Public goods are characterized by the:
a. free-rider problem.
b. adverse selection problem.
c. principal-agent problem.
d. moral-hazard problem.
A
Economics
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Which of the following equations is correct?
A) AVC - ATC = AFC B) AVC + ATC = AFC C) AFC + AVC = ATC D) ATC + AVC = AFC
Economics
In a simple closed economy, the income approach to calculating GDP is:
A. wages + interest + rental income - profits. B. wages + government - earned interest + rental income + profits C. wages + interest + government income + profits D. wages + interest + rental income + profits.
Economics