In economics, ________ means a shortage or insufficient amount of supply. a. Scarcity b. Supply considerations c. Leveraging d. Risk ANSWER A
Date: September 9th, 2020
Ramsey pricing is a good private enterprise basis for setting access prices. Indicate whether the statement is true or false ANSWER F Ramsey prices for access can easily will bring more revenue to one party than another, and that result is usually not wanted in a private enterprise context.
Date: September 9th, 2020
There is no good basis for dividing federal and state regulatory jurisdictions. Indicate whether the statement is true or false ANSWER F Although imperfect, having states regulate matters within there borders and the federal government regulate matters that spill across states has served quite well as a dividing line between jurisdictions.
Date: September 9th, 2020
________ recognizes that obtaining any scarce good involves a cost which affects behavior and goal setting. a. The Dagher Theory b. Fiduciary thinking c. The Nish-Byer Theory d. Economic thinking ANSWER D
Date: September 9th, 2020
___________ is the highest valued alternative that must be sacrificed to satisfy a want or attain something. a. Intangible resource b. Choice c. Opportunity cost d. Availability ANSWER C
Date: September 9th, 2020
The public enterprise usually pursues a well defined purpose with exact controls over its behavior. Indicate whether the statement is true or false ANSWER F The purpose of a public enterprise can be quite vague and to the extent it is controlled by a break-even constraint it has wide scope to arrange its activities, […]
Date: September 9th, 2020
According to the book, the characteristic way an individual or family manages resources is shaped by 5 forces, which of the following is not one of them. a. Psychological/personality b. Economic c. Technological d. Cognitive ANSWER D
Date: September 9th, 2020
The rate-of-return regulated public utility has a strong profit-seeking motive. Indicate whether the statement is true or false ANSWER F In the typical case, the public utility is limited in the profit it can earn, and it can earn that profit quite easily (it is a monopoly), so it need not strive hard to […]
Date: September 9th, 2020
The ______________ Resource Model illustrated in the book shows the interdependence of resources, how they exchange. a. Foa & Foa b. Elbing c. Hertford & Myers d. Eccles & Ward ANSWER A
Date: September 9th, 2020
The rate-of-return regulated public utility can have incentive to use more capital than is efficient relative to other inputs. Indicate whether the statement is true or false ANSWER T The rate-of-return regulated public utility earns profit based on how much capital it uses, and if the return it is allowed to earn per unit […]
Date: September 9th, 2020
