If parking spaces on a college campus are scarce, with quantity demanded during the "peak" hours, from 8 a.m. to 11 a.m., far greater than the number of spaces, an economist would propose as an efficient solution,
a. lowering the parking fees during those hours to compensate students for the longer search time.
b. charging the same parking fees during all hours of the school day.
c. raising parking fees during the peak hours to encourage some students to schedule classes during other hours when parking fees are lower.
d. hiring more security guards to patrol for illegal parkers.
c
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Alternative approaches for reducing carbon dioxide emissions are
A) carbon taxes and carbon trading. B) carbon trading and carbon subsidies. C) carbon taxes and carbon scrubbing. D) burning low carbon coal and deforestation.
Mass adoption of technology, like the steam engine, was not influenced greatly by the relative benefits and costs of the new technology compared to existing technology
Indicate whether the statement is true or false
At a price of $5, Tyrone buys 10 units of a product; when the price increases to $6, Tyrone buys 8 units. Which of the following is correct about Tyrone's behavior?
a. Tyrone's demand has decreased. b. Tyrone's demand has increased. c. Tyrone's quantity demanded has decreased, and his demand has not changed. d. Tyrone's quantity demanded has increased, and his demand has increased. e. Tyrone's demand has increased, and his quantity demanded has decreased.
Exports are
A. Not included in GDP. B. Goods and services purchased from foreign sources. C. Goods and services produced by the public sector. D. Goods and services sold to international buyers.