The fundamental cause of the tragedy of the commons is:
a. international trade.
b. lack of defined property rights.
c. ignorance.
d. tariffs.
Ans: b. lack of defined property rights.
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A call option is said to be "in the money" if
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If the value of non-cash assistance to the poor were included in their income
A. the official number of persons classified as poor would be higher. B. the official number of persons classified as poor would be lower. C. the poverty income threshold would decrease. D. the poverty income threshold would increase.