A hilly, public golf course is often used by sledders in the winter. One of the sledders was quoted as saying, "This is public property, so we have just as much a right to be on these hills as anyone else. Besides, when it snows, golfers can't use the course anyway. Sledding doesn't harm anything." Is he correct? Why or why not?

Sledding can inflict external costs to golf courses. First, it damages the course as runners from the sled dig into the ground and destroy the frozen grass underneath. Second, sledders often build bonfires on the course to stay warm, further damaging the course. Third, sledders often leave trash behind, and this is quite evident when the snow thaws. While none of these factors absolutely will occur, experience suggests they are quite prevalent.

Economics

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Which of the four government policies to stimulate saving is essential? That is, which policy can on its own, regardless of the other policies, determine the level of the national saving rate?

What will be an ideal response?

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Which of the following is the most likely cause of most recessions according to the new classical model?

a. a change in the money supply. b. an increase in taxation and government spending. c. a fall in expected profits. d. a rise in the price of oil. e. an unanticipated change in the money supply.

Economics