The "free rider" problem occurs when a good is
a. not available.
b. not excludable.
c. not depletable.
d. not sold in free markets.
b
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Which of the following factors is the most significant in determining the pattern of international trade?
a. absolute advantage b. diplomatic expertise c. comparative advantage d. overpowering military strength e. a country's size relative to another country's
Suppose a budget line is drawn with X on the horizontal axis and Y on the vertical axis. A decrease in the price of X will cause:
a. an increase in the vertical intercept and no change in the horizontal intercept. b. a decrease in the vertical intercept and no change in the horizontal intercept. c. an increase in the horizontal intercept and no change in the vertical intercept. d. a decrease in the horizontal intercept and no change in the vertical intercept. e. a parallel, rightward shift of the budget line.