4 out of 4 points When an individual incurs costs in the form of negative personal satisfaction, the costs are Answer Selected Answer: Psychic costs Correct Answer: Psychic costs
Question 17 4 out of 4 points A group project has been assigned and most of the work ends up being produced by only one or two of the group's members. This is an example of Answer Selected Answer: Correct Answer: The free-rider problem Question 18 4 out of 4 points Job training programs, remedial education courses, and recreational activities might lead to reduced crime rates in depressed areas by Answer Selected Answer: Correct Answer: Increasing the opportunity costs of committing crimes Question 19 4 out of 4 points If a law is passed making it illegal for unlicensed barbers to cut hair, which of the following will result? Answer Selected Answer:
Correct Answer: Higher priced haircuts Question 20 4 out of 4 points Which of the following exists when an individual consumes benefits from a public good but does not pay for its cost? Answer Selected Answer: Free-riding Correct Answer: Free-riding Question 21 4 out of 4 points If you are willing to take a pay cut to live near a ski resort, the ski resort provides you with Answer Selected Answer: Psychic benefits Correct Answer: Psychic benefits Question 22 4 out of 4 points Which of the following goods or services is a public good? Answer
Selected Answer: National defense Correct Answer: National defense Question 23 4 out of 4 points In any city with a given crime prevention budget, additional suppression of prostitution Answer Selected Answer: Correct Answer: Will usually be achieved at the expense of an increase in other kinds of crime Question 24
You've reached the end of your free preview.
Want to read all 12 pages?
- Spring '12
- Economics, Correct Answer, Externality