Most economists believe that the market __________ produce nonexcludable public goods because of __________.
A. will; the monetary incentive they have to produce them
B. will not; the externality problem
C. will not; the free rider problem
D. will; the market shortage that often accompanies the production of public goods.
E. none of the above
Answer: C
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When the Federal Reserve buys bonds on the open market, it decreases the money supply
Indicate whether the statement is true or false
A 45-degree line on a graph with expenditures, E, on the vertical axis and production, Y, on the horizontal axis, represents
A) the line of disequilibrium levels of income. B) all possible equilibrium levels of production and expenditures. C) some of the equilibrium levels of production and expenditures. D) None of the above.
Suppose that the own-price elasticity for Ragu spaghetti sauce is -1.25. Which of the following is (are) true?
A) The demand for Ragu spaghetti sauce is unitary elastic. B) A 10% decrease in price leads to an 8% increase in quantity demanded. C) A 4% increase in price leads to a 5% decrease in quantity demanded. D) None of the above.
An example of the type of crime that is contemplated by the rational criminal model is
A. spousal abuse. B. murder for hire. C. rape. D. school shooting.