Project #106691 - econamic

 Question 1 Unsaved
 

Which of the following groups is concerned with tragedy of commons according to the video on Tragedy of Commons?  

 
Question 1 options:
a) 

Lobbyists and politicians

b) 

Biologists and social scientists

c) 

Department of parks and recreations

d) 

None of the above

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Question 2 (1 point)

 Question 2 Unsaved
 

Which of the following is an example of a real life situation similar to the tragedy of commons?

 
Question 2 options:
a) 

My roommate is not a very pleasant person but we have to share the living area anyways

b) 

My roommate pays half of the cable bill. He watches TV more often than I do

c) 

My roommate pays half of the electricity bill. He never turns off lights when he leaves the house

d) 

My roommate pays half of the water bill. He often stays with his parents so he doesnt shower in the apartment as often as I do.

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Question 3 (1 point)

 Question 3 Unsaved
 

Which of the following policies can help to solve the problem of tragedy of commons?

 
Question 3 options:
a) 

Imposing a per-use tax

b) 

Privatizing public property

c) 

Imposing restrictions on usage of public property

d) 

All of the above

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Question 4 (1 point)

 Question 4 Unsaved
 

Rent controls that keep rental rates low can result in the following consequences:

 
Question 4 options:
a) 

Make rental units scarcer

b) 

Make rental units more affordable

c) 

Make rental units more available 

d) 

Increase the quality of the rental units

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Question 5 (1 point)

 Question 5 Unsaved
 

Sometimes when Environmental Protection Agency tries to protect endangered species, the result is the opposite of intended.  The reason for this is that

 
Question 5 options:
a) 

By restricting the use of the land, the Environmental Protection Agency endangers other species of animals

b) 

By restricting the use of the land, the Environmental Protection Agency limits the supply of food for the endangered species

c) 

By restricting the use of the land, the Environmental Protection Agency gives incentives to land owners to kill the remaining species to avoid regulation

d) 

By restricting the use of the land, the Environmental Protection Agency encourages land owners to take better care of the animals which results in animals dying from being over fed.

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Question 6 (1 point)

 Question 6 Unsaved
 

Which of the following statements is correct?

 
Question 6 options:
a) 

Intentions and results are always aligned

b) 

If intentions are good, the result will be good as well

c) 

Intentions are not necessarily the same as the result

d) 

All of the statements are true

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Question 7 (1 point)

 Question 7 Unsaved
 

Which of the following is NOT an example of creative destruction

 
Question 7 options:
a) 

Typewriters become obsolete with invention of the computer

b) 

Small mom and pop shops go out of business due to the Walmart moving in the neighborhood

c) 

Small towns become ghost towns when large highways are built

d) 

Digital cameras become cheaper due to the new production technology

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Question 8 (1 point)

 Question 8 Unsaved
 

Given that Firm A decides on a large budget, firm B can decide on Large Budget and make a profit of

 
Question 8 options:
a) 

20, or decide on a Small Budget and make a profit of 0

b) 

30, or decide on a Small Budget and make a profit of 70

c) 

0, or decide on a Small Budget and make a profit of 50

d) 

30, or decide on a Small Budget and make a profit of 40

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Question 9 (1 point)

 Question 9 Unsaved
 

Given that Firm A decides on a large budget, the best choice for Firm B is to

 
Question 9 options:
a) 

Set a Large Budget

b) 

Set a Small Budget

c) 

Set a profit = 20

d) 

Set a profit = 0

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Question 10 (1 point)

 Question 10 Unsaved
 

Which of the following statements are true?

 
Question 10 options:
a) 

Firm A has a dominant strategy while Firm B does not

b) 

Firm B has a dominant strategy while Firm A does not

c) 

Both firms have a dominant strategy

d) 

Neither firm has a dominant strategy

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Question 11 (1 point)

 Question 11 Unsaved
 

Nash equilibrium is

 
Question 11 options:
a) 

Both Firms set Large Budget

b) 

Both Firms set Small Budget

c) 

Firm A sets large budget, Firm B sets small budget

d) 

Firm A sets small budget, Firm B sets large budget

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Question 12 (1 point)

 Question 12 Unsaved
 

Under which of the following scenarios a park would be considered a common resource?

 
Question 12 options:
a) 

Visitors to the park must pay an admittance fee, but there are always plenty of empty picnic tables.

b) 

Visitors to the park must pay an admittance fee and frequently all of the picnic tables are in use.

c) 

Visitors can enter the park free of charge and there are always plenty of empty picnic tables.

d) 

Visitors can enter the park free of charge, but frequently all of the picnic tables are in use.

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Question 13 (1 point)

 Question 13 Unsaved
 

Principle-agent problem arises because

 
Question 13 options:
a) 

Principles are usually not very nice people

b) 

Principles and agents live in the different towns and it is hard for them to communicate with each other

c) 

Principle and agents incentives are not necessarily the same

d) 

Agents are trying to recruit principles but principles do not want to do work

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Question 14 (1 point)

 Question 14 Unsaved
 

Trivia Question! This person illustrated that incentives may lead to non-cooperation, which in return makes us worse-off.

 
Question 14 options:
a) 

Jon Stewart

b) 

Jon Bon Jovi

c) 

John Nash

d) 

Nash Equilibrium

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Question 15 (1 point)

 Question 15 Unsaved
 

In the classic prisoners dilemma example

 
Question 15 options:
a) 

Bonnie and Clyde both confess as it is the strategy that benefits them both the most

b) 

Bonnie and Clyde both keep quite as it is the strategy that benefits them both the most

c) 

Bonnie and Clyde both confess even though keeping quite is a better strategy for both of them

d) 

Bonnie confesses and Clyde keeps quite as girls cannot keep secrets

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Due By (Pacific Time) 02/01/2016 09:25 pm
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