The term "free riders" refers to people who:
A) selflessly pay for others' consumption of goods and services.
B) make economic decisions randomly and are not rational.
C) haggle over the prices of the goods and services that they buy.
D) don't contribute but still benefit from others' actions.
D
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Assume the Fed wants to lower the interest rate. How does the Fed lower the interest rate in the short run?
What will be an ideal response?
The diamond-water paradox of value can be explained by
A) distinguishing between total utility and marginal utility. B) water's high level of utility relative to diamonds. C) water's low price relative to diamonds. D) the fact that utility cannot be measured.
Everything else held constant, when financial frictions increase, the real cost of borrowing ________ so that planned investment spending ________ at any given inflation rate
A) increases; falls B) decreases; falls C) decreases; rises D) increases; rises
A mutual life insurance company is owned and controlled by its
A) partners. B) managers. C) stockholders. D) policyholders.