The establishment of a government redistributive program such as price supports creates _____

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.

Suppose you read in the French daily Le Monde that saving in France in 2003 was greater than the intended investment French businesses had hoped to make. You would conclude that in 2003 the French economy was

a. in equilibrium, and no change occurred in its national income b. not in equilibrium, and its national income rose c. not in equilibrium, and its national income fell d. in equilibrium, and its national income rose e. in equilibrium, and its national income fell