To an economist, a free rider is a person who
A) uses private goods without paying for them.
B) benefits from consuming public goods without paying for them.
C) consumes demerit goods.
D) uses the public transportation system without paying for it.
Answer: B
Economics
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If banks do not loan out all their excess reserves, then the real world multiplier is
A) smaller than 1/RR. B) larger than 1/RR. C) equal to 1/RR. D) not related to 1/RR.
Economics
Which of the following models relies on emphasizing the importance of sticky wages and prices?
A) the monetarist model B) the new classical model C) the real business cycle model D) the new Keynesian model
Economics