The Commons Problem could be addressed by
A) charging a fee proportional to the use of the common property.
B) charging a fee unrelated to the use of the common property.
C) charging no fee.
D) prohibiting the use of the common property.
A
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If goods are complements, then their
A) cross elasticities are positive. B) income elasticities are positive. C) income elasticities are negative. D) cross elasticities are negative.
If output falls, which of the following could be an explanation?
a. a rise in the interest rate b. a fall in foreign income c. a decline in government spending d. a rise in the interest rate, a fall in foreign income, or a decline in government spending
The vertical part of the aggregate supply curve is the _____ range.
Fill in the blank(s) with the appropriate word(s).
The exchange rate is the:
A. value of one currency expressed in terms of the goods and services it can buy. B. value of currency adjusted for inflation. C. value of one currency expressed in terms of another currency. D. reciprocal of the currency's real value.