The Tragedy of the Commons can be corrected by
a. conducting a cost-benefit analysis.
b. assigning property rights to individuals.
c. providing government subsidies for the resource.
d. making certain everyone in the economy has access to the resource.
b
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Which statement is TRUE about Mr. McConaughey's marginal utility from spending time with family and friends and breaking a sweat?
A) The marginal utility Mr. McConaughey gets from the first hour of spending time with his family is less than the marginal utility from the first hour of breaking a sweat. B) The marginal utility Mr. McConaughey gets from the third hour of spending time with his family is less than the marginal utility from the fourth hour of breaking a sweat. C) The marginal utility Mr. McConaughey gets from the fourth hour of spending time with his family is greater than the marginal utility from the fourth hour of breaking a sweat. D) The marginal utility Mr. McConaughey gets from the second hour of spending time with his family is greater than the marginal utility from the first hour of breaking a sweat.
Which of the following statements best describes relative inflation?
a. If the country Economia experiences a relatively low inflation rate compared with other economies, then the buying power of its currency is eroding, which will tend to discourage anyone from wanting to acquire or to hold the currency. b. If the country Economia experiences a relatively high inflation rate compared with other economies, then the buying power of its currency is eroding, which will tend to discourage anyone from wanting to acquire or to hold the currency. c. If the country Economia experiences a relatively high inflation rate compared with other economies, then the buying power of its currency is increasing, which will tend to discourage anyone from wanting to acquire or to hold the currency. d. If the country Economia experiences a relatively low inflation rate compared with other economies, then the buying power of its currency is increasing, which will tend to discourage anyone from wanting to acquire or to hold the currency.
A compensating differential is a difference in wages due to higher levels of education or other forms of human capital
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30. B. exactly 60. C. fewer than 30. D. exactly 30.