Public goods are characterized by the free-rider problem because
A) no one can be excluded from the benefits of public goods once they are produced.
B) public goods are usually things that people really do not want to consume.
C) public goods are characterized by the principle of rival consumption.
D) public goods can easily be subdivided into small units.
A
Economics
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The short-run Phillips curve shows
A) a tradeoff between the unemployment rate and the inflation rate. B) a tradeoff between real GDP and unemployment. C) the expected inflation rate. D) the natural unemployment rate. E) potential GDP.
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In Figure 3-7 above, the multiplier is
A) 2. B) 0.2. C) 5. D) 2.5.
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