The phenomenon of free riding is most closely associated with which type of good?
a. private goods
b. club goods
c. common resources
d. public goods
d
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The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. When marginal social benefit is equal to the marginal social cost of coffee in Kaffenia
A) three hundred pounds per day will be produced and consumed. B) the efficient quantity of coffee is being produced and consumed. C) any decrease in coffee consumption or production would result in a deadweight loss. D) All of the above are correct.
Which of the following serves as the central banker for private banks in the United States?
A. The legislative branch of the government. B. The executive branch of government. C. The Federal Open Market Committee. D. The 12 Federal Reserve banks.