Refer to Table 3.2, which shows some costs and benefits of having your car repaired. Suppose you use your car to deliver pizzas. If you earn $10 per hour delivering pizzas, what is your best choice of hours to spend on car repairs?

Nominal GDP can change

A) only if prices change. B) only if the quantities of goods and services change. C) only if prices increase. D) if either prices or the quantities of goods and services change. E) only if prices and the quantities of the goods and services change.

What causes the Tragedy of the Commons? (i) Social and private incentives differ. (ii) Common resources are not rival in consumption and are not excludable. (iii) Common resources are not excludable but are rival in consumption

a. (i) only b. (ii) only c. (i) and (ii) only d. (i) and (iii) only