Use the figure below to answer the following question.
The total benefit of the second unit of X is ________.
A. 11
B. 4
C. 5
D. 17
Answer: A
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If people come together through the political process and agree to pay taxes and make group decisions about the quantity of public goods produced, they can defeat the free rider problem with laws that require people pay taxes to contribute to public goods
a. True b. False Indicate whether the statement is true or false
Jones lost his job in industry A, but he has skills that can be transferred to industry B (which is currently hiring). Smith lost a job in industry C, but his skills cannot be transferred to industry B or to any other industry. Jones is __________ unemployed and Smith is __________ unemployed
A) structurally; frictionally B) structurally; structurally C) frictionally; frictionally D) frictionally; structurally
Externalities can be produced by ____________, as well as ____________.
A. individuals; firms B. market prices; market incomes C. oceans; streams D. none of these answer options are correct.
If designed correctly, tournaments
A. always reward a single winner. B. reduce the applicant pool to just those workers with the best degrees. C. discourage competition. D. reward players according to their ranked productivity. E. elicit equal effort from all workers.