Who among the following is a free rider?
a. Ernie listens to National Public Radio, but does not contribute to any fundraising efforts.
b. Bert takes the commuter rail to work, but he purchases the discounted monthly passes rather than buying tickets each day.
c. Grover sends his 5 children to a private school rather than to the public school in his neighborhood.
d. Oscar goes to Elmo's house to watch a football game on the local television channel.
a
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When the price of only one good rises, the relative price of that good
A) falls. B) rises. C) does not change. D) rises if it is a normal good and falls if it is an inferior good.
An increase in demand could arise from which of the following factors
a. an increase in income b. a decrease in the price of a substitute c. an increase in the price of a complement d. all of the above
The socially optimal rate of growth is:
a) Zero b) Negative c) Where the marginal social benefit = the marginal social cost d) Total social costs are minimized
an increase in marginal tax rates will
What will be an ideal response?