An example of a good that is excludable is:
A. broadcast television.
B. an outdoor sculpture visible from the street.
C. an aerial fireworks display.
D. a television set.
Answer: D
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The price of a ride on the Washington, D.C. metro depends on the time of day you ride. This is an example of
A. exploitation. B. inefficiency. C. political interference with a market. D. pricing to spread out demand.
Pollution taxes are more efficient in cleaning up the environment than direct controls. What role is there for direct controls?
a. They are useful standby mechanisms. b. They are useful if it is decided to prohibit the substance altogether. c. They are useful where dependable metering devices are not available or prohibitively costly to install. d. All of the above are true.
A recent study on enrollment at a liberal arts college concluded that demand elasticity is 0.65 . The administration is considering a tuition increase to help balance the budget. The revenue-maximizing decision is to
a. decrease tuition, which should boost enrollment enough to balance the budget. b. decrease tuition, which would bring in more revenue. c. leave tuition as is-an increase would not help balance the budget. d. increase tuition, which would generate more revenue.
Mary is a bagger at Glen's Market. On a weekly average, she works 30 hours and fills 876 bags of groceries. Her productivity is ___________ bags of groceries per hour.
A. 29.2 B. 26.2 C. 28.6 D. 22.8