According to Elinor Ostrom's view of The Tragedy of the Commons:
A. The only way to prevent the collapse of the commons is government intervention.
B. The only way to prevent the collapse of the commons is to privatize the commons so that it is owned by a single individual.
C. Individuals will create institutions to prevent the collapse of the commons.
D. Individuals will use the commons beyond the socially efficient point.
Answer: C
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Which of the following would not be classified as a capital expenditure for decision-making purposes?
a. purchase of a building b. investment in a new milling machine c. purchase of 90-day Treasury Bills d. investment in a management training program e. all of the above are capital expenditures
Recall the Application about the merger of Office Depot and Office Max to answer the following question(s).Recall the Application. Which of the following represent increased competition in the office supplies market?
A. general superstores like Wal-Mart and Target B. membership warehouse clubs like Costco and Sam's Club C. internet retailers like Amazon D. All of these
Answer the following statements true (T) or false (F)
1. There tends to be a high positive correlation between the rate of productivity growth and the rate of economic growth. 2. There tends to be a positive correlation between real wages of workers and the productivity of labor in the economy. 3.Global competition has tended to slow down the rate of productivity growth in the United States. 4. Simultaneous consumption and network effects are sources of increasing returns and economies of scale that promote productivity growth.
In calculating GDP, governmental transfer payments, such as Social Security or unemployment compensation, are ________.
A. counted as investment spending. B. counted as consumption spending. C. counted as government spending. D. not counted.