When we consider solving a free rider problem through changing social norms, it is helpful to remember:
A. conflict with those in your community can be considered a cost.
B. all costs aren't financial.
C. social disapproval can be considered a cost.
D. All of these statements are true.
Answer: D
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What is marginal cost? Which curve is also referred to as the marginal cost curve?
What will be an ideal response?
The spending multiplier equals 1/marginal propensity to save if an economy:
a. has a trade surplus. b. is open to international trade. c. does not trade with any other country. d. has a higher level of saving than consumption. e. reduces its investment expenditures to zero.
The rate of real economic growth a. is underestimated using measures of income growth
b. is overestimated using measures of income growth. c. is underestimated using measures of technological growth. d. is overestimated using measures of technological growth.
Choosing from among the following, the worst recession was in
A. 1937-1938. B. 1980. C. 1990-1991. D. 2001.