A "free rider" is an individual who reaps
A. Indirect benefits from someone else's purchase of a public good.
B. Direct benefits from someone else's purchase of a public good.
C. Direct benefits from someone else's purchase of a private good.
D. Indirect benefits from someone else's purchase of a private good.
Answer: B
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Tomas wants the city to convert a portion of an existing public park to a covered bus stop so it is more convenient to catch a bus to work each day
Michelle wants the city to expand the park so the neighborhood kids have an even larger place to play outside. In this situation, A) Tomas is the villain and Michelle is the victim. B) Michelle should get her way because a larger park is more important than a covered bus sto
Money serves the following function(s):
(a) Medium of exchange (b) Store of value (c) Unit of account (d) All of the above
Which of the following is not a valid explanation for government provision and forced consumption of education?
a) myopic individuals make time-inconsistent decisions b) education is a public good c) forced education redistributes income d) education has positive externalities, or benefits to non-consumers e) education enhances human capital and raises GDP
If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only the United States would benefit from trade if the actual terms of trade between corn and wheat were 2:1.
Answer the following statement true (T) or false (F)