Park rangers at Yellowstone National Park are known to have low wages. This is probably because
a. park rangers are required to be college graduates.
b. park rangers don't need much money to live.
c. park ranger jobs are perceived to be dangerous.
d. park ranger jobs are perceived to be "fun."
d
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The "lemons problem" exists in the market for goods because
A) sellers tend to try to take advantage of buyers. B) buyers tend to try to take advantage of sellers. C) differences in the quality of the goods being exchanged. D) of moral hazard.
One of the reasons that price elasticities of demand are always stated as positive numbers is because
a. the numerators and denominators of the formula are both negative b. the numerators and denominators of the formula are both positive c. price increases always lead to increases in quantity demanded d. price decreases always lead to decreases in quantity demanded e. price elasticities are always negative, so we ignore the sign