Which of the following is an example of a free rider?
A. Listening to NPR without donating at their annual fundraiser.
B. Sitting inside of the gate with a ticket to watch an outdoor concert.
C. Walking through a public park.
D. Completing work for a group project.
Answer: A
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The average income per capita of a country in its own currency is 75,000 units. If one US dollar is worth 20 units of its currency, the income per capita of the country in dollars is ________
A) $1,850 B) $15,000 C) $3,750 D) $2,500
Why does the substitution bias cause the consumer price index to overstate inflation and the cost of living? Why does the increase in quality bias cause the consumer price index to overstate inflation and the cost of living?
What will be an ideal response?
If the economic growth rate INCREASES from 1% to 5%, the simple accelerator hypothesis suggests that
A) investment will continue to rise as output increases. B) investment will fall as output increases. C) investment will rise since the rate of change in output increases. D) None of the above is correct.
The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, which one of the following statements is TRUE?
A) Firm A has a dominant strategy. B) Firm B has a dominant strategy. C) Neither firm entering is a Nash equilibrium. D) The outcome of the game is unpredictable.