The tragedy of the commons can be solved by:
a. turning the good into a public good
b. government regulation or taxation to prevent overconsumption
c. both of the above
d. neither of the above
Answer: b. government regulation or taxation to prevent overconsumption
Economics
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The Solow model is used to explain ________
A) why some economies experience higher rates of growth than others B) the relationship between price and quantity demanded C) the relationship between the rate of inflation and the rate of unemployment D) the notion of opportunity cost
Economics
In recent U.S. history
A) GDP has been much higher than GNP. B) GNP has been much higher than GDP. C) the difference between GNP and GDP has been very volatile. D) there has been little practical difference between GNP and GDP.
Economics