Why do private markets tend to undersupply nonrivalrous goods?
a. Because free riders will refuse to pay for these goods.
b. Because the tragedy of the commons will reduce their value to zero.
c. Because people have an incentive to understate their preferences for these goods.
d. Because the efficient price for these goods is zero.
d. Because the efficient price for these goods is zero.
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Assume that a perfectly competitive firm hires workers from a perfectly competitive market for labor. The marginal product of a worker is 10 units per day
If the good that the worker produces is sold for $5, what is the maximum daily wage that should be offered to the worker?
In a sharp regression discontinuity design,
A) crossing the threshold influences receipt of the treatment but is not the sole determinant. B) the population regression line must be linear above and below the threshold. C) Xi will in general be correlated with ui. D) receipt of treatment is entirely determined by whether W exceeds the threshold.
What percent of the families classified as poor in 2010 were headed by an elderly (age 65 and over) person?
a. approximately two-thirds b. approximately 9 percent c. approximately 32 percent d. approximately 50 percent
Virtual Currency System 2 (VCS2) is poses a __________ risk to nations in which is it used because ___________________________
a. High; it can be used directly by end users to buy real-world goods and services. b. High, it weakens central banks' abilitiesto control their monetary bases. c. Low; it can be spent only in virtual worlds. d. Low; when it is exchanged for real-world currencies, only a small portion of the exchange actually influences the nation's monetary base. e. Medium; its conversion into real-world currencies causes only minor movements in nations' M2 money multiplier.