GOVT 350 Midterm Study Guide
According to Richards, private ownership of homes and other property - ANS-is
important because people can use the property as collateral, and long‑ term
investments in the property can be made.
A "compensating differential" in labor markets, discussed by Miller et al. in their chapter
"(Why) Are Women Paid Less," is - ANS-extra pay for taking on a job that is more
dangerous or unpleasant
Uber is a taxicab alternative, providing smartphone links between people wanting rides
and drivers willing to take people where they want to go. Which of the following would
we not expect when Uber begins to operate in a city? - ANS-passengers pay higher
prices for transportation, whether by Uber or in taxis.
Which of the following is not consistent with Karl Marx's ideas? - ANS-NOT: The number
of unemployed workers would grow and become more discontent, until it finally revolted
and overthrew its capitalist oppressors.
Which of the following results are we most likely to see from farm subsidies? -
ANS-NOT: Prices that are closer to the equilibrium price for farm products.
Which of the following are consequences we can expect from rent control laws? -
ANS-Developers and mortgage lenders are less likely to build new rental properties.
Taxicab licensing in New York City has which of the following effects? - ANS-Those who
use taxis have to pay higher fares than they would otherwise.
According to Marx, the value of a good is determined by - ANS-the amount of labor that
went into its production.
When governments impose price ceilings, such as a rent control law, - ANS-the volume
of trade falls and the gains from exchange are reduced.
According to Miller et al., wind energy is - ANS-less sustainable than natural gas and
some other sources of energy, since building wind farms and backup generators uses
up more resources.
According to Richards, private ownership of homes and other property - ANS-is
important because people can use the property as collateral, and long‑ term
investments in the property can be made.
A "compensating differential" in labor markets, discussed by Miller et al. in their chapter
"(Why) Are Women Paid Less," is - ANS-extra pay for taking on a job that is more
dangerous or unpleasant
Uber is a taxicab alternative, providing smartphone links between people wanting rides
and drivers willing to take people where they want to go. Which of the following would
we not expect when Uber begins to operate in a city? - ANS-passengers pay higher
prices for transportation, whether by Uber or in taxis.
Which of the following is not consistent with Karl Marx's ideas? - ANS-NOT: The number
of unemployed workers would grow and become more discontent, until it finally revolted
and overthrew its capitalist oppressors.
Which of the following results are we most likely to see from farm subsidies? -
ANS-NOT: Prices that are closer to the equilibrium price for farm products.
Which of the following are consequences we can expect from rent control laws? -
ANS-Developers and mortgage lenders are less likely to build new rental properties.
Taxicab licensing in New York City has which of the following effects? - ANS-Those who
use taxis have to pay higher fares than they would otherwise.
According to Marx, the value of a good is determined by - ANS-the amount of labor that
went into its production.
When governments impose price ceilings, such as a rent control law, - ANS-the volume
of trade falls and the gains from exchange are reduced.
According to Miller et al., wind energy is - ANS-less sustainable than natural gas and
some other sources of energy, since building wind farms and backup generators uses
up more resources.
