The use of common property resources:
A. reduces positive externalities in many cases.
B. reduces negative externalities in many cases.
C. leads to positive externalities in many cases.
D. leads to negative externalities in many cases.
D. leads to negative externalities in many cases.
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The oversimplified multiplier formula assumes that the
a. level of consumption spending is fixed. b. price level is fixed. c. government spending is fixed. d. net exports depend on income.
The answer is: "rational ignorance." What is the question?
A) Why do special interest groups lobby politicians? B) What causes a candidate in a two-person political race to take polls? C) What explains why voters often know very little about the candidates and the issues? D) What motivates the free rider?
Suppose that the total production of an economy consists of 10 oranges and 5 candy bars, each orange sells for $0.20, and each candy bar sells for $1.00. What is the market value of production in this economy?
A. $1.20 B. $5.00 C. $7.00 D. $2.00
Which of the following transactions will decrease the U.S. current account deficit?
A. A U.S. corporation builds a new factory in Seoul, South Korea. B. Dutch tourists visiting Los Angeles. C. U.S. department stores buy shoes from Italy. D. American firms invest in Tokyo real estate.