Which of the following is likely to result from the regulation of taxicabs in Mexico City?
a. The price of taxi rides will decrease.
b. The price of taxi rides will increase.
c. The income of taxi owners will increase.
d. Taxi owners will have greater monopoly power.
e. The supply of taxis will decrease.
A
You might also like to view...
Which of the following policies would a Keynesian expect to produce the largest increase in income?
A. A reduction in government spending of $100 billion B. An increase in transfer payments of $100 billion C. An increase in government spending of $100 billion D. A tax cut of $100 billion
Last year, Casey grew fresh vegetables, which she sold at her local farmers market, but this year, Casey did not plant any vegetables and went to work at a bank instead. Which of the following best explains Casey's career change?
A. Casey's opportunity costs of gardening exceeded Casey's opportunity costs of working at the bank. B. Casey's opportunity costs of working at the bank exceeded Casey's benefits from gardening. C. Casey's opportunity costs of gardening exceeded Casey's benefits from working at the bank. D. Casey's opportunity costs of working at the bank exceeded Casey's opportunity costs of gardening.