A neighborhood uses well water, and no individual family has to pay for the water they consume. Thus, each family waters their grass excessively and doesn't bother to conserve water. The well runs dry. This is an example of the economic model known as
a. the tragedy of the commons.
b. the Prisoner's Dilemma.
c. the chicken game.
d. the overabundance problem.
a
You might also like to view...
There are more than 45 million people, or about 14.5 percent, living officially below the poverty line in the United States in 2013
a. True b. False Indicate whether the statement is true or false
Reinventing or reengineering government referred to _____
a. bureaucrats who implemented policy b. a national and state movement during the 1990s to improve government and make it more efficient c. pseudo laissez faire d. the growth of government at the state and local levels e. populism
When people who share attitudes organize to influence government policy,
A) they are forming a political party. B) they are participating in direct action. C) they are forming an interest group. D) they are committing civil disobedience. E) they are indicating a lack of interest in economic matters.
A new state is admitted to the Union
A) by Congress. B) by a resolution adopted by two-thirds of the existing state legislatures. C) by presidential decree seconded by a majority of the Supreme Court. D) by a majority of delegates attending a special convention called to admit new states to the Union. E) by a unanimous vote of the Supreme Court.