A charity that used to offer contributors private goods such as coffee mugs, books, or magazine subscriptions, but no longer does, is likely to ________ the free-rider problem and lead to a ________ level of contribution to the public good.
A. increase; smaller
B. increase; larger
C. reduce; smaller
D. reduce; larger
Answer: A
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When there is a shortage I. there is a tendency for price to increase. II. there is an excess quantity demanded
A) I only B) II only C) Both I and II D) Neither I nor II
The longer the unemployment rate remains above the natural rate, the higher the natural rate. This theory is known as historical analysis
a. True b. False Indicate whether the statement is true or false
In a monopolistic competition scenario, as long as a firm is earning positive economic profits:
a. new competitors will be discouraged from entering the market. b. new competitors will continue to enter the market. c. a state of perfect competition will continue, balanced between new and existing competitors. d. the firm’s demand and marginal revenue curves will increase because of new competitors.
A firm's demand curve for labor shifts when the
a. price of its output changes. b. wage rate changes. c. number of available workers changes. d. All of the above are correct.