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Author Question: The text uses traffic congestion as an example of A) a surplus of automobiles. B) a negative ... (Read 120 times)

Themember4

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on: Jun 29, 2018
The text uses traffic congestion as an example of
 
  A) a surplus of automobiles.
  B) a negative externality.
  C) a good priced above equilibrium.
  D) an engineering rather than an economic problem.

Question 2

Suppose a ski resort decides to sell its lift tickets below cost all season long, charging 20 per day as opposed to 30 per day. In principle, how would each ticket sale affect GDP?
 
  A) GDP would fall by 10.
  B) GDP would rise by 10.
  C) GDP would rise by 20.
  D) GDP would rise by 30 after the appropriate cost-price adjustment has been made.


smrerig

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


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