Governments around the world tend to auction quota licenses
A) never.
B) seldom.
C) often.
D) always.
B
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Why might the economy as a whole conform to the predictions of a model even if not all people are rational?
A. It won't; for the standard model to work, all people must be rational. B. The standard model doesn't assume rationality. C. People who are rational will profit from those who are not. D. People who are irrational will profit from those who are not.
Table 21.2Output (units per day)0102030Total cost (dollars per day)$40$54$62$80At 30 units of output in Table 21.2, the total variable cost is
A. $40. B. $80. C. $50. D. $30.
When deciding whether to install visible countdown timers for pedestrians at crosswalks, which of the following would be considered in the cost-benefit analysis? (Check all that apply.)
A. The higher maintenance bill associated with fixing these more complex signals when they break down. B. The value of the pedestrians' lives saved by having the timers to assist in crossing the street. C. The cost in terms of dollars of installing these new timers all over the city. D. The value of the lives lost by drivers who watch the countdown timers and try to make it through a light.
Tom was out shopping for a sweater and learned that they will all go on sale tomorrow. We would expect Tom's demand for sweaters today to:
A. shift to the right. B. increase. C. move down along his demand curve. D. shift to the left.