If taxpayers can enjoy mosquito abatement whether or not they pay for it and, therefore, they tend to understate their true valuation of the spraying, this is an example of
a. private goods
b. the median-voter model
c. an open-access good
d. the free-rider problem
e. irrational ignorance
D
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Economic models are rarely constructed using
A. equations. B. words. C. graphs. D. physical objects.
A highly liquid asset
A) generally has a very limited market for its resale. B) has high transaction costs associated with its sale. C) must be held for a substantial period of time. D) can be disposed of easily without loss of value.
Those individuals 16 years of age and over who are working in a job or actively seeking employment are called:
A) the labor force. B) the employed. C) the unemployed. D) none of the above.
Interest payments on the national debt are projected to be about ____% by 2046.
Fill in the blank(s) with the appropriate word(s).