When a Canadian citizen enjoys military protection in Canada without contributing to the cost of Canada's defense budget, then
A. this citizen receives no benefits if Canada is attacked.
B. this Canadian citizen is a free rider.
C. Canada is a free rider.
D. Canada's defense budget will run out of funds.
Answer: B
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According to the above table, if the marginal revenue product is $24, how many workers will the profit maximizing monopsonist hire?
A) 4 B) 5 C) 6 D) 7
Compare the effectiveness of monetary policy in an open economy with mobile international capital with monetary policy in a closed economy. Why is it different? Use an appropriate diagram to illustrate your answer.
What will be an ideal response?
A monopolist will operate where
a. MR = MC and charge a price equal to marginal revenue. b. MR = MC and charge a price equal to marginal cost. c. MR = MC and charge a price corresponding to demand at that level. d. MC = MR and charge a price corresponding to average cost.
Autonomous consumption is NOT influenced by
A. Aggregate household wealth. B. Expectations of future income and wealth. C. Aggregate household debt. D. Disposable income.