When people try to benefit from a public good without paying for it, we call it the:
A. free-rider problem.
B. duopolists' dilemma.
C. public goods problem.
D. taxation problem.
Answer: A
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The consumption function describes the relationship between
A) investment and interest rates. B) consumer spending and income. C) consumers and firms. D) prices and demand.
In the relevant price range a demand curve for a Giffen good would be
A) upward sloping. B) downward sloping. C) horizontal. D) vertical.
If something happens to alter the quantity demanded at any given price, then the demand curve shifts
a. True b. False Indicate whether the statement is true or false
The multiplier measures the:
A. number of times each dollar is spent in the economy. B. effect of government spending or tax cuts on national income. C. supply of money in the economy. D. effect of household spending on national income.