When unskilled teens earn less than college graduates, society answers the ________ question
A) why
B) social interest versus self-interest
C) how
D) for whom
E) what
D
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Imposing an entry fee on a public park will: a. increase the number of free riders
b. decrease the number of free riders. c. reduce the benefit received by society. d. increase the marginal cost borne by society.
What do economists mean when they say there is "market failure"?
A. Markets have surpluses or shortages so that government rationing is necessary. B. Free markets have led to excessive profits. C. Business has introduced a product that consumers do not want. D. Free markets yield results that economists do not consider socially optimal.
Lydia was born with an aptitude for composing music. This aptitude is an example of
A. property. B. natural capital. C. human capital. D. a compensating differential.
Which of the following is not a market incentive to discourage pollution?
A. Emission charges. B. Regulatory intervention. C. Higher user fees. D. Green taxes.