Which of these arises when an individual listens to loud music late in the night?
a. An externality
b. The free-rider problem
c. An asymmetric information problem
d. The common-pool problem
a
Economics
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An economy is judged efficient if
a. it is good at producing what people want. b. it produces things that people may not want but in the least wasteful way. c. produces whatever people want in a way that may not be the least wasteful. d. it is a free-market economy and not a command market.
Economics
If the current level of GDP is below full employment, the level of GDP can be raised by:
A. increasing the money supply. B. raising taxes. C. reducing government spending. D. raising the interest rates.
Economics