Which of the following is an example of the Tragedy of the Commons?
a. The number of professional football teams increases to the point where the quality of the games decreases, as does television viewership.
b. The number of satellites increases to the point where they begin running into each other.
c. Disney World becomes so crowded that it institutes a lottery for admissions.
d. A tiger breeding program becomes so successful that local zoos have to build additional exhibits so that visitors can view the cats.
b
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Consider a mutual fund with a 6 percent back-end load that decreases to 0 percent in the seventh year. How much of the load will an investor have to bear if she sells it off in the seventh year?
a. 1 percent of the load b. 0 percent of the load c. 2 percent of the load d. 6 percent of the load e. 4 percent of the load
In the long run, firms in a monopolistically competitive market operate:
A. at less than full capacity. B. on an efficient scale. C. at lowest average total costs possible. D. at full capacity.
If bundles A, B, and C lie on the same indifference curve, then:
A. A ~ B ~ C. B. B > C > A. C. A > B > C. D. A ~ B > C.
According to international comparisons, which nation had the highest hourly pay in U.S. dollar terms in 2011?
A. United States. B. Germany. C. Denmark. D. Sweden.