Free riding would be an appropriate description of which of the following behaviors?
a. People who enjoy having nature conserved by The Nature Conservancy but who do not contribute to the organization.
b. People crowding into a public park on a nice summer day.
c. A fisher putting a more powerful motor on her boat so as to get to the fishing grounds before others.
d. Computer software developers who do not charge for their finished programs.
a. People who enjoy having nature conserved by The Nature Conservancy but who do not contribute to the organization.
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If the government has no debt initially, but then has annual revenues of $10 billion per year for 4 years and annual expenditures of $10.5 billion per year for 4 years, then the government has
A) a budget surplus of $0.5 billion per year and a debt of $2 billion at the end of the 4 years. B) a budget deficit of $0.5 billion per year and a debt of $2 billion at the end of the 4 years. C) a budget surplus of $0.5 billion per year and a surplus of $2 billion at the end of the 4 years. D) a budget deficit of $0.5 billion per year and a budget surplus of $2 billion at the end of the 4 years.
When describing the IMF broad country classification, the most accurate statement is that
A) most of the nations in Western Europe are considered emerging market economies. B) the emerging market economies are countries that were, until the early 1990s, part of the Soviet Union or its satellites. C) about 50 percent of the world's population live in the advanced economies and the other 50 percent live in the emerging market and developing economies. D) most of the world's population lives in advanced economies. E) the category with the greatest number of countries is the advanced economies.
Economic modeling requires
A) mathematics. B) logic. C) calculus. D) trigonometry.
Governments grant patents to encourage
A) research and development on new products. B) competition. C) low prices. D) firms to form public enterprises.