Which of the following would not be an external cost associated with gambling?
A. The increase in homelessness associated with casinos
B. The increase in crime near casinos
C. The cost of security at casinos
D. The effects on the gamblers' family
Answer: C
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A simple economic model predicts that a fall in the price of bus tickets means that more people will take the bus. However, you observe that some people still do not take the bus even after the price of a ticket fell
a. Is the model incorrect? b. How would you test this model?
The introduction of human capital to the Solow neoclassical growth model reduces the significance of the contribution of ________ to increases in per capita income
A) K B) L C) K and L D) None of the above.
Which of the following does NOT describe an advantage of experiments?
A. With experiments, it is easier to determine whether people's choices are consistent with standard economic theory. B. With experiments, it is often easier to establish causality. C. With experiments, researchers can double check their assumptions and conclusions by testing and debriefing subjects. D. It is generally cheaper to conduct experiments than it is to compute mathematical models.
What do Baack and Ray (1983) find in their survey of U.S. tariff history?
(a) Tariff rates in the U.S. were low. (b) Tariff cuts were associated with the fast-growing industries. (c) The highest tariff rates in the U.S. were associated with the fastest growing industries. (d) The U.S. was a world leader in free trade policy.