The problem generally associated with public goods is:
A. free-riding.
B. adverse selection.
C. moral hazard.
D. self-selection.
Answer: A
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Government actions designed to affect the performance of the economy as a whole are called ________ policies.
A. macroeconomic B. social C. microeconomic D. global
The AD curve is the relationship between
A) aggregate planned expenditure and the price level. B) aggregate planned expenditure and real GDP when the price level is fixed. C) the quantity of real GDP demanded and the unemployment rate. D) aggregate planned expenditure and the quantity of real GDP demanded. E) the quantity of real GDP demanded and the quantity of real GDP supplied. The above figure shows a nation's consumption function.
A firm maximizes profits when the ________ equals the ________
A) actual marginal product of capital; actual marginal product of labor B) actual marginal product of capital; expected marginal product of capital C) expected marginal product of capital; the opportunity cost of capital D) expected marginal product of capital; user cost of capital
If you have flipped a fair coin and tails has come up 49 times in a row, what are the odds that the next flip will be a head?
A) 1/50 B) 1/25 C) 1/2 D) 1 (100%)