Which of the following goods is NOT subject to the free-rider problem?
A) national defense
B) the local police force
C) public fireworks
D) a public transit system
D
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A skilled worker is an example of:
a. unproductive resources. b. land resources. c. labor resources. d. capital resources. e. both labor and capital resources.
The unemployment rate that would be consistent with full employment is:
A. a fixed unemployment rate that does not change over time. B. equal to the cyclical unemployment rate. C. equal to zero. D. equal to the total of frictional and structural unemployment.
Consider the data in Table 9.6. Both firms can benefit if Firm A sells its pollution permit allowing it to generate 100 gallons of wastewater to Firm B for:
A. a price between $7 and $12. B. a price between $0 and $7. C. a price between $12 and $18. D. Both firms cannot benefit if A sells permits to B.
The demand curve for a Giffen good is
A) non-linear but downward sloping. B) vertical. C) upward sloping. D) nonexistent.