In Figure 34.5, the effect of a well-enforced anti-scalping law is to 
Figure 34.5
A. increase the welfare of consumers and decrease the welfare of scalpers.
B. reduce the welfare of consumers and scalpers by GFB.
C. increase the welfare of consumers by ABC.
D. decrease the welfare of scalpers by AFGC.
Answer: B
You might also like to view...
An increase in government expenditure shifts the ________
A) labor demand curve to the left B) labor supply curve to the left C) labor demand curve to the right D) labor supply curve to the right
When people who buy insurance change their behavior after the purchase because they are protected from loss by the insurance, the insurance market is said to face the problem of
A) economic irrationality. B) asymmetric information. C) adverse selection. D) moral hazard.
What is the largest category of bank assets?
A) loans B) reserves C) securities D) cash items in the process of collection
A proposed increase in the federal income tax rate should:
A. have no impact on the slope of the yield curve since the tax laws impact all maturities the same. B. cause the slope of the yield curve to become negative. C. flatten the yield curve. D. increase the slope of the yield curve since it increases the risk premium of longer maturities.