In many rural areas, electric generation and distribution utilities were initially set up as cooperatives in which the electricity customers were member-owners. Like most cooperatives, the objective of these firms was to:
A) maximize profits for the member-owners.
B) maximize total revenue that could be redistributed to the member-owners.
C) operate at zero profit in order to provide low electricity prices for the member-owners.
D) minimize the costs of production.
C
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Which of the following are criticisms of voucher programs?
a. They do not allow government to exercise enough control over education finance. b. Exclusionary admission standards under a voucher program would be unjust. c. Vouchers might be used at sub-standard schools. d. all of the above e. b and c
The Lorenz curve shows the
a. functional distribution of income b. personal distribution of income c. relative percentage of income going to each of the resources d. demand for unskilled versus unskilled labor e. cumulative percentage of income received by cumulative percentages of households
Suppose that for a given good demand decreases and supply increases at the same time. If demand decreases by a greater amount than supply increases, then equilibrium price __________ and equilibrium quantity __________ for that good
A) rises; rises B) rises; falls C) falls; rises D) falls; falls
Which of the following is a free trade agreement?
A) the Trans-Pacific Partnership (TPP) B) the Transatlantic Trade and Investment Partnership (TTIP) C) the Caribbean Basin Initiative (CBI) D) the African Growth and Opportunity Act (AGOA)