Which of the following cases can create a? free-rider problem? ?(Check all that apply.)
A. Opening a savings account in a bank.
B. Use of a personal television by the owner.
C. Use of public parks by locals.
D. The street light on the road.
C. Use of public parks by locals.
D. The street light on the road.
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The opportunity cost of more capital goods today is
A) fewer capital goods in the future. B) fewer consumer goods in the future. C) fewer consumer goods today. D) more unemployed resources in the future.
A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. This is an example of
A) cyclical unemployment. B) frictional unemployment. C) seasonal unemployment. D) structural unemployment.
Under socialism, no markets can operate at all
a. True b. False Indicate whether the statement is true or false
A visual expression of income distribution is depicted by
a. the Gini coefficient b. the IRS curve for incomes held by households c. supply and demand curves for the four resources: labor, capital, land, and entrepreneurship d. the Lorenz curve e. the diagonal on a Gini distribution