A free rider:
A. contributes little or nothing to a public good while benefiting from others' contributions.
B. prevents a market failure.
C. contributes little or nothing to a public good, but also does not benefit from others' contributions.
D. creates both positive and negative externalities.
A. contributes little or nothing to a public good while benefiting from others' contributions.
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In the foreign exchange market, a change in which of the following will result in a movement along the demand curve for U.S. dollars?
A) the exchange rate B) the U.S. interest rate C) the interest rate in the foreign country D) the expected future exchange rate
Economic growth can be depicted as a
A) shift in the contract curve. B) a change in the dimensions of the Edgeworth box. C) a change in the preference curves of individuals. D) a change in the number of people in the Edgeworth box.
A consumer values a house at $525,000 and a producer values the same house at $485,000 . If the transaction is completed at $510,000 . what level of tax rate will result in unconsummated transaction?
a. 1% b. 5% c. 3% d. 2%
An inferior good:
a. exists only in theory. b. is only purchased by people who do not recognize quality. c. is sometimes called a "lemon." d. has an income elasticity between zero and one. e. is one where the demand curve shifts to the left when income goes up.