Which of the following is NOT a reason why we see little international policy coordination?
A. The benefits of international policy coordination are likely to be small in most situations.
B. Governments often have difficulty in delivering on their commitments as part of any international policy coordination.
C. The interventions by the different governments according to the policy coordination are usually effective only in the very long run.
D. The policy goals of different countries are often incompatible.
Answer: C
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Refer to Common Property II. Suppose the common property becomes privately owned. If the owner charges a competitive entrance fee for the right to use the property, social gain will equal
The following questions refer to the accompanying diagram, which shows the benefits and costs associated with the use of a common property.
a. area C + D + F + G + I.
b. area F + G + H + I.
c. area A + B + C + D + F + G + I.
d. area A + B + C + D + E + F + G + H + I.
The "tragedy of the commons" refers to the phenomenon where
A) there is rivalry in consumption. B) people overuse a common resource. C) people do not internalize an externality. D) individuals are free riders.
If the value of bank's loans declines, what is the corresponding reduction in a liability entry that the bank makes?
A) Deposits are reduced by the amount of the decline in the value of the loan. B) Borrowings are reduced by the amount of the decline in the value of the loan. C) Net worth is reduced by the amount of the decline in the value of the loan. D) Cash items in the process of collection are reduced by the amount of the decline in the value of the loan.
Which of the following is a merit good?
A. Health care. B. Electricity. C. Automobiles. D. Local telephone service.