Why do historians argue that there was a mixture of enterprise, partly private and partly governmental, in building our transportation system?
(a) Private individuals took the initiative and were able to extract special privileges and financial assistance from government for the purpose of enhancing their profits.
(b) Political leaders, who wanted transportation improvement for reasons of local or national ambition, took the initiative and coaxed private enterprise into building the transportation
system by the offer of special financial advantages.
(c) The sheer size of the investment required for a transportation system was beyond the capability of private enterprise alone.
(d) All of the above ideas have been used by historians to explain the mixture of enterprise in building our transportation system.
(d)
You might also like to view...
If the demand for a good is determined to be "elastic," then the elasticity measure
A) is greater than 1.0. B) is equal to 1.0. C) is less than 1.0. D) is infinite.
Which of the following is a reason why airline yield management is an effective method to increase revenue?
A) because airlines have successfully induced customers to reveal their resources and preferences by offering them different versions of the product such as business class and coach plane tickets B) because airlines have a monopoly in long-distance carriage C) because a ticket is a contract to transport a specific person, and is not transferable D) because airlines have invested heavily in developing computer models that identify optimal pricing strategies in the various market segments
Price discrimination is based on observable customer characteristics:
A. when a firm can distinguish consumers with a high versus low willingness to pay. B. when a firm offers a menu of alternatives, designed so that different customers will make different choices based on their willingness to pay. C. when a monopolist knows perfectly the customer's willingness to pay for each unit its sells and can charge a different price for each unit. D. in all cases.
In the Keynesian DMP model
A) There is a fiscal multiplier. B) The government post vacancies in the labor market. C) There is no unemployment. D) There can be more than one wage consistent with equilibrium.