The situation described in the book as “Smart for One, Dumb for All” occurs when: A.individuals, when acting rationally, fail to take advantage of all opportunities for social benefit. B.a market is in equilibrium. C.individuals, when acting rationally, benefit society as a whole … 阅读详情>> "The situation described in the book as “Smart for One, Dumb for All” occurs when:"

Suppose the local slaughterhouse gives off an unpleasant stench. The price of meat would then be _ because not all of the _ are accounted for in the marketplace. A.too high; benefits B.too high; costs C.too low; costs D.too low; benefits 正确答案：too low; costs

Suppose that the production of oranges reduces global warming. The equilibrium price of oranges is _ because not all of the _ are accounted for in the marketplace. A.optimal; costs B.too low; benefits C.too low; costs D.too high; benefits 正确答案：too low; benefits

Which of the following is NOT a condition for maximizing total economic surplus in a particular market? A.All social costs of production must be included. B.All private benefits of consumption must be included. C.Government regulation of the market is needed. D.All private costs … 阅读详情>> "Which of the following is NOT a condition for maximizing total economic surplus in a particular market?"

Everyone in the neighborhood has been complaining about the deteriorating condition of the park, but nobody has cleaned it up. Why not? A.There is an excess supply of parks in the neighborhood. B.The reservation price for a clean park exceeds the cost of cleaning it. C.No single … 阅读详情>> "Everyone in the neighborhood has been complaining about the deteriorating condition of the park, but nobody has cleaned it up. Why not?"

The No Cash on the Table Principle asserts that: A.in disequilibrium, no opportunities exist. B.sometimes tips aren’t picked up. C.in equilibrium, all opportunities have been exploited. D.in equilibrium, a few unexploited opportunities exist. 正确答案：in equilibrium, all opportunitie … 阅读详情>> "The No Cash on the Table Principle asserts that:"

Which of the following directly follows from the No Cash on the Table Principle? A.In a transaction, the parties will negotiate over prices until neither one earns any surplus. B.For a transaction to occur, the buyer’s reservation price must be less than the seller’s reservation … 阅读详情>> "Which of the following directly follows from the No Cash on the Table Principle?"

According to the equilibrium principle: A.market equilibrium exploits all opportunities for individual gain, but may not exploit gains possible through collective action. B.once a market has reached equilibrium, price will not change. C.collective action cannot improve on individ … 阅读详情>> "According to the equilibrium principle:"

In Cuba, a bureaucratic committee makes the production decisions for the country’s firms and factories. Therefore, Cuba is an example of a: A.centralized economy. B.capitalist economy. C.pure free-market economy. D.mixed economy. 正确答案：centralized economy.

A good example of central planning at work in the U.S. would be: A.union wages. B.McDonald’s fries being the same everywhere in the U.S. C.Burger King’s value meal price control. D.New York City’s rent control. 正确答案：New York City’s rent control.

The entire group of buyers and sellers of a particular good or service makes up: A.only the supply curve. B.the equilibrium. C.a market. D.only the demand curve. 正确答案：a market.

Suppose you bought three tickets to a concert in advance at the University ticket window. At the last minute one friend cancelled, so you could use only two of those tickets. You scalped, or sold, the third ticket just outside the entrance to the concert for slightly more than th … 阅读详情>> "Suppose you bought three tickets to a concert in advance at the University ticket window. At the last minute one friend cancelled, so you could use only two of those tickets. You scalped, or sold, the third ticket just outside the entrance to the concert"