What are some of the ways a private group can overcome a free rider problem?
What will be an ideal response?
Giving a private gift with a contribution, arranging matching contributions, and appealing to civic or moral responsibility by such methods as publicizing contributors names.
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Which of the following counts as part of money?
A) $10,000 in gold bars B) $10,000 in government bonds C) $10,000 in a checking account D) $10,000 in corporate bonds
The yardstick most often used to compare living standards across nations is
a. average production cost per unit b. sales revenue per month c. utility per capita d. output per capita e. imports per year
If at the profit-maximizing level of output, a typical perfectly competitive firm's price is greater than its average total cost, the firm should increase output
a. True b. False Indicate whether the statement is true or false
We say that a firm is vertically integrated if
A. it centralizes all its output decisions but decentralizes its pricing decisions. B. it decentralizes all its input purchases but centralizes its decisions on output. C. it develops differentiated products that command price premiums. D. it makes some of its own inputs.