The external costs associated with gambling include
A. the crowd control problems at casinos.
B. the effects on the gamblers' family.
C. the cost of security at casinos.
D. the losses to gamblers.
Answer: B
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Assume that a perfectly competitive firm hires workers from a perfectly competitive market for labor. The marginal product of a worker is 10 units per day
If the good that the worker produces is sold for $5, what is the maximum daily wage that should be offered to the worker?
If the price elasticity of demand (Ep) equals one in the short run, then, other things being equal, in the long run Ep will be
A) one. B) less than one. C) greater than one. D) indeterminate without more information.
Unless you accept his 'final offer' your negotiation opponent threatens to scrap the whole deal:
a. His threat is more believable if both parties would be harmed by scrapping the deal b. His threat is more believable if he has invested resources that lower his return to other options c. His threat is more believable if he puts his threat 'in writing' d. His threat is more believable if he has balked at this course of action in the past
Taken as a whole, antipoverty programs may actually put a poor family in a position in which the family becomes worse off if its earnings rise
a. True b. False Indicate whether the statement is true or false