When is a demand curve smooth?
a. when there are no consumers
b. when there are few consumers
c. when there is one consumer
d. when there are many consumers
d. when there are many consumers
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The main objective of financial liberalization is ________
A) to encourage financial innovation B) to improve the allocation of financial capital C) to discourage volatility in financial markets D) to reduce the likelihood of a credit boom
The problem of overfishing in waters that are commonly owned can be solved when the government determines the total amount of fish can be removed from a given area during each fishing season. Then the fishermen
A) will not be able to fish. B) can trade their rights (shares) to fish or not. C) will externalize their private costs to the government. D) will lower their private costs to fish.