Which of the following goods is most likely to be overconsumed? Fish in:
A. the ocean
B. the grocery store
C. a fishery
D. a pet store
Answer: A
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In the United States, runs on banks are prevented because
A) banks are forbidden to make unprofitable loans. B) banks have the option of denying depositors access to their funds. C) the government guarantees bank accounts for up to $250,000. D) banks keep 100 percent of their deposits on hand.
Unanticipated moral hazard contingencies can be reduced by
A) screening. B) long-term customer relationships. C) specialization in lending. D) credit rationing.
When someone does not have to pay for a good it:
A. is rational to overconsume. B. is irrational to overconsume. C. is rational to underconsume. D. means there is zero demand for the good.
Which of the following are government franchises?
a. Regional phone companies. b. The United States Postal Service. c. Electric utilities. d. All of the above.