Who is considered to be a free rider according to economists?
A person who derives benefit from the consumption of a commodity without paying for it is called a free rider.
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Changes in which of the following do NOT shift the AS curve? i. the price level ii. potential GDP iii. the money wage rate
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
Firm A and Firm B emit 300 tons of pollution each and each have marketable permits that allow each to emit 100 tons of pollution
If it costs $5,000 for Firm A to eliminate 100 tons of pollution and it costs Firm B $6,000 to eliminate 100 tons of pollution, then A) Firm B sells its permits to Firm A for a price above $6,000. B) Firm A sells its permits to Firm B for a price below $6,000. C) Firm A sells its permits to Firm B for a price above $6,000. D) Firm B sells its permits to Firm A for a price below $6,000. E) Neither Firm A nor Firm B sells permits because neither has extra permits.
The European Union started out as a
A) regional trade agreement. B) union of nations with identical currency. C) union of nations where the same language was spoken. D) union of nations with identical tariffs.
A decrease in the price of rice from 50 cents to 40 cents a pound increases consumption from 16 to 20 tons a week in Gainesville and from 160 to 200 tons in the larger city of Miami. The elasticity of demand for rice is
a. greater in Miami than in Gainesville, even taking into account the population difference. b. greater in Gainesville than in Miami in spite of the population difference. c. equal in Gainesville and Miami regardless of the population difference. d. impossible to compare because of the population difference.