In the absence of government
A) public goods are likely to be overprovided.
B) market failure is less likely to occur.
C) public goods are likely to be underprovided.
D) the free-rider problem is more likely to occur.
C
Economics
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"Underground" economic activity can best be described as
a. the construction of subway transportation. b. the building of foundation structures for skyscrapers. c. the mining and oil industries. d. barter or cash activity that is not reported as income.
Economics
A change in any of the ceteris paribus conditions for demand leads to a
A. change in supply. B. a good going from an inferior good to a normal good. C. shift of the demand curve. D. movement along the demand curve.
Economics