Question :
81.ResidentsofHongKongareabletofindrestaurantsthatadvertiseadishthatcontainsgrizzlybearpaws.Sinceitisunlikelythatgrizzlybearpawsarepurchasedfromaprivateproducerofanimalpaws,wecanlikelyconcludethat
a.inte : 1261450
81.ResidentsofHongKongareabletofindrestaurantsthatadvertiseadishthatcontainsgrizzlybearpaws.Sinceitisunlikelythatgrizzlybearpawsarepurchasedfromaprivateproducerofanimalpaws,wecanlikelyconcludethat
a.internationallawsmakingitillegaltosellgrizzlybearpawsarelikelytobeveryeffectiveateliminatingtheseofferingsatHongKongrestaurants.
b.higherpenaltiesforpoachinggrizzlybearswillpreventpoachersfromkilling.
c.therearelikelytobeveryfewgrizzlybearpoachers.
d.allowingindividualstoownandraisegrizzlybearsformeatwouldlikelyreducethethreatofextinctiontogrizzlybearpopulations.
82.Imaginea2,000-acreparkwithpicnicbenches,trees,andapond.Supposeitispubliclyowned,andpeopleareinvitedtoenjoyitsbeauty.Whentheweatherisnice,itisdifficulttofindparking,andthetrashcansoverflowwithfoodwrappersonsummerafternoons.Otherwise,itisagreatplace.Theparkisacommonresourcebecause
a.peoplecanbepreventedfromusingit.
b.accessislimitedduetodrivingdistances.
c.iftoomanypeopleuseit,oneperson’susediminishesotherpeoples’use.
d.anyonecanuseitwithoutaffectinganyoneelse.
83.Imaginea2,000-acreparkwithpicnicbenches,trees,andapond.Supposeitispubliclyowned,andpeopleareinvitedtoenjoyitsbeauty.Whentheweatherisnice,itisdifficulttofindparkingonsummerafternoons.Otherwise,itisagreatplace.Anefficientsolutiontotheparkingproblemwouldbeto
a.prohibitparkingin thevicinityof thepark.
b.chargehigherpricesforparkingatbusytimes.
c.policetheparkingareaandticketcarsthatareparkedillegally.
d.donothing.
84.Astairwellinacertainofficebuildingisalwayscongestedat12:00p.m.and1:00p.m.Thecongestionissobadthatpeoplehavebeencomplainingtothebuilding’sowner.Whichofthefollowingmethodswouldbethemostefficientwayofreducingcongestion?
a.Assigneachpersoninthebuildingatimewhentheyareallowedtousethestairwell.
b.Encouragepeopletovoluntarilykeepoffthestairwellduringpeaktimes.
c.Chargeeveryonewhousesthestairwellwhenitiscongestedthesamefee.Peoplewhovaluetheuseofthestairsthemostwillbetheoneswhousethestairwellatpeaktimes.
d.Holdalotterytodeterminewhowinstherighttousethestairwellatpeaktimes.
85.Onhotsummerdays,electricity-generatingcapacityissometimesstretchedtothelimit.Atthesetimes,electriccompaniesmayaskpeopletovoluntarilycutbackontheiruseofelectricity.Aneconomistwouldsuggestthat
a.everyelectriccustomerhasanincentivetopreventthesystemfromoverloading,sothisvoluntaryapproachisthemostefficient.
b.itwouldbemoreefficientiftheelectriccompanyraiseditsratesforelectricityatpeaktimes.
c.itwouldbemoreefficienttohavealotterytodecidewhohadtocutbacktheiruseofelectricityatpeaktimes.
d.itwouldbemoreefficienttoforceeveryonetocuttheirusageofelectricitybythesameamount.
86.Onhotsummerdays,electricity-generatingcapacityissometimesstretchedtothelimit.Atthesetimes,electriccompaniesmayaskpeopletovoluntarilycutbackontheiruseofelectricity.Onthesedays,electricityis
a.excludable,butnonrivalinconsumption.
b.notexcludable,butrivalinconsumption.
c.excludableandrivalinconsumption.
d.notexcludableandnonrivalinconsumption.
87.Seymourowns3acresofbeautifulwaterfrontpropertyonalargeinlandlake.Inhiswill,Seymourdonatesthelandtothestatewiththeunderstandingthatthelandwillbeusedasastatebeachthatanyonemayusewithoutpayinganyfees.Thisstatebeach
a.willtendtobeoverusedbecauseitisnonexcludable.
b.isacommonresourcewhenitbecomescrowdedonsunnysummerweekends.
c.isrivalinconsumptionwhenitbecomescrowdedonsunnysummerweekends.
d.Alloftheabovearecorrect.
88.Seymourowns3acresofbeautifulwaterfrontpropertyonalargeinlandlake.Inhiswill,Seymourdonatesthelandtothestatewiththeunderstandingthatthelandwillbeusedasastatebeach.Seymourwantsanefficientwaytopreventovercrowdingatthebeach,soheshouldrequire
a.thatallbeachvisitorspaythesameentryfeeregardlessofthedayoftheweekortimeoftheyear.
b.thatthebeachlimitthenumberofvisitorsto500perday,withoutanentryfee.
c.anentryfeebechargedonsummerweekenddayswhenmanypeopletendtovisitthebeach.
d.thatonlylocalresidentsbeadmittedtothebeach.
89.Aneconomicsprofessor,upsetabouttherisingcostoftextbooks,proposedthathisdepartmentpurchase50copiesofastatisticsbooksothestudentsinthestatisticsclasswouldnothavetopurchasetheirownbooksbutrathercouldborrowabookforthesemesterandthenreturnitforthenextclasstouse.Whichofthefollowingstrategies wouldnotpreventacommonresourceproblemwiththetextbooks?
a.Studentswillberequiredtopayadepositforthetextbook,whichisrefundableattheendofthesemesterwhenthebookisreturnedingoodcondition.
b.Thetextbooksareplacedinacommonareaofthedepartmentsostudentscanborrowandreturnthemasneeded.
c.Studentsmustsignaformagreeingtoreturnthebookorpayafineequaltothereplacementcostofthebook.
d.Thetextbooksareplacedintheprofessor’sofficeandwillonlybegiventostudentswhoareregisteredmembersoftheclass.Thesestudentswillnotreceivetheirfinalcoursegradesuntilthebooksarereturned.
90.Pollutionis a
a.problemthatisentirelyunrelatedtotheparablecalledtheTragedyoftheCommons.
b.problemthatcannotberemediedwithregulationsorcorrectivetaxes.
c.negativeexternalitythatcanbeviewedasapublic-goodsproblem.
d.negativeexternalitythatcanbeviewedasacommon-resourceproblem.
91.Whichofthefollowingstatementsiscorrect?
a.Theefficientprovisionofprivategoodsisintrinsicallymoredifficultthantheefficientprovisionofpublicgoods.
b.Theefficientprovisionofpublicgoodsisintrinsicallymoredifficultthantheefficientprovisionofprivategoods.
c.Privatemarketsprovidequantitiesofpublicgoodsthatexceedthesocially-efficientquantitiesofthosegoods.
d.Privatedecisionmakersutilizequantitiesofcommonresourcesthatfallshortofthesocially-efficientquantitiesofthoseresources.
92.TheenclosuremovementinEnglandinthe17thcenturyrepresentedanattempttotransform
a.apublicgoodintoaprivategood.
b.aprivategoodintoapublicgood.
c.aprivategoodintoacommonresource.
d.acommonresourceintoaprivategood.
93.Thefailureofmarketstoadequatelyprotecttheenvironmentcanviewedeitherasaproblemof
a.externalitiesorasaproblemofcommonresources.
b.externalitiesorasaproblemofprivategoods.
c.theoverprovisionofpublicgoodsorasaproblemoftheunderprovisionofprivategoods.
d.clubgoodsorasaproblemthatariseswhenthequantityofexcludablegoodsexceedsthesocially-efficientquantity.
94.Aregionallobstermanagementboardrecentlyproposedafive-yearmoratoriumonlobsterfishingintheAtlanticwaterssouthofCapeCodbasedonastudyofthelobsterpopulation.Whichofthefollowingstatementsisnotcorrect?
a.Lobstersarerivalbutnotexcludable.
b.Thelobsterpopulationisanexampleofthetragedyofthecommons.
c.Reducingthequotaonthenumberoflobstersanyfishercancatchwouldhaveaprotectiveeffectonthelobsterpopulation.
d.Ifleftunregulated,thelobsterpopulationwilllikelyincrease.
95.WhatdocleanairinNewYorkCityandelephantsinAfricahaveincommon?
a.Theyarebothcommonresources.
b.Theyarebothpublicgoods.
c.Theyarebothclubgoods.
d.Bothareexcludable.