The term "tragedy of the commons" describes:
a. how communal ownership of property leads to overuse and speedy exhaustion of resources.
b. the very difficult circumstances that the every-day citizens faced when the first arrived in colonial America.
c. how collective ownership of property produces a greater incentive for people to shirk, or work less than they otherwise would.
d. how establishing governments was very difficult in the initial settlements.
a. how communal ownership of property leads to overuse and speedy exhaustion of resources.
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The demand curve for Japanese yen will shift to the right when
A) there is a decrease in demand for Japanese-made goods in the United States. B) there is no change in the demand for Japanese-made goods in the United States. C) there is a decrease in the demand for U.S.-made goods in Japan. D) there is an increase in the demand for Japanese-made goods in the United States.
Some economists believe that corporate bailouts are bad for the economy because they ________________ gains and they _____________ the costs, which ultimately lead to _____________ companies needing to be bailed out
A) privatize; socialize; fewer B) socialize; privatize; fewer C) privatize; socialize; more D) socialize; privatize; more
Diversification can eliminate:
A. the systematic risk in a portfolio. B. the idiosyncratic risk in a portfolio. C. all risk in a portfolio. D. risk only if the investor is risk averse.
Tina walks into Ted's sporting goods store and buys a punching bag for $100. That $100 payment counts as _______________ for Tina and _______________ for Ted.
Fill in the blank(s) with the appropriate word(s).