Three friends stay in an apartment. Their landlord offers to air-condition the apartment if they pay for the installation charges. Although they all want an air-conditioner, none of them say so. This is an example of the ________
A) free-rider problem
B) paradox of thrift
C) tragedy of commons
D) paradox of plenty
A
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In which of the following cases is the slope of a line positive?
A) As x increases, y increases. B) As x increases, y decreases. C) As x increases, y remains the same. D) As x increases, y equals a positive number.
If the per-worker production function shifts up
A) it now takes more capital per hour worked to get the same amount of real GDP per hour worked. B) the per-worker production function becomes flatter. C) an economy can increase its real GDP per hour worked without changing the level of capital per hour worked. D) negative technological change has occurred in the economy.
Voluntary exchanges between ____________ generates surplus.
A. firms B. countries C. individuals D. All of these are true.
A positive statement is:
a. something good or desirable. b. a call for improvement. c. a statement of opinion. d. a statement testable by facts. e. a suggestion for policy.