Suppose That a Toll of $15 Is Charged to Drive

question 3

Multiple Choice

Suppose that a toll of $15 is charged to drive on a road,regardless of the time of day.If this toll brings about equilibrium travel flows at the busiest time of day,it will create __________ at all other times of day.

• A) equilibrium
• B) a shortage of toll road space
• C) a surplus of toll road space
• D) b or c

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Definitions:

Appetizers

Small dishes served before the main meal to stimulate the appetite.

Entrees

The main dishes of a meal.

Desserts

Sweet courses concluding a meal.

Capital Levy

A one-time tax imposed on capital or assets, often used by governments during times of national crisis or to fund specific projects.