The Tragedy of the Commons occurs because
a. government property is most heavily used by the wealthy.
b. everyone deserves an equal share of government property.
c. social and private incentives differ.
d. established property rights create competition.
c
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When there is a liquidity trap, the money demand curve is ________.
A. downward sloping B. flat C. upward sloping D. vertical
Parties who have bought a futures contract and thereby agreed to ________ (take delivery of) the bonds are said to have taken a ________ position
A) sell; short B) buy; short C) sell; long D) buy; long
Suppose the government increases its expenditures by $100 billion and simultaneously reduces the money supply by $100 billion. We definitely know that
A) equilibrium GDP will fall. B) equilibrium GDP will rise. C) the interest rate will rise. D) the interest rate will fall.
The measurement of industry concentration which calculates the percentage of all sales contributed by a specific number of leading firms is called the
A) Herfindahl-Hirschman Index. B) concentration ratio. C) producer price index. D) P/E ratio.