If there is a great deal of violence and uncertainty in the country of Crazico, people will be less willing to invest in their own future or in the future of Crazico

Which of the following is a property of a public good?

a. It is established by legislation. b. Free riders are excluded. c. Users collectively consume benefits. d. It is determined by positive economics.

The supply of human capital to a particular use is

a. perfectly inelastic in the short run. b. perfectly elastic in the long run. c. more inelastic in the short run since it takes time for persons to acquire a particular skill. d. more elastic in the short run since individuals who already possess the particular skill can be attracted into the labor force in the short run.