Pollution is a negative externality, but it is not appropriate to view the problem of pollution as a common-resource problem

If voters do not have single-peaked preferences then a cyclical majority will arise

a. True b. False

All of the following are examples of macroeconomic problems EXCEPT

A) inflationary pressures caused by an increase in the cost of petroleum. B) unemployment caused by a fall off in the level of residential construction. C) a decline in the rate of overall economic growth. D) consumers deciding to buy more fish and less beef because of concerns about a healthier diet.