Which of the Following Statements Concerning Efficiency Is Correct

question 143

Multiple Choice

Which of the following statements concerning efficiency is correct?

• A)If a toll road is heavily used so that traffic movement is slowed, the price per vehicle should be reduced since the road is generating more revenue.
• B)Economists advocate high prices for abundant resources and low prices for scarce resources.
• C)If a toll road is heavily used and traffic movement is difficult, the price per vehicle should be increased to shift some traffic to less-crowded roads.
• D)None of the above is desirable in promoting efficient use of scarce road space.

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Definitions:

Rollo May

An American existential psychologist who emphasized the importance of anxiety as a condition of living and the role of existential crisis in personal growth.

Responsibility for Actions

The accountability or duty of an individual to account for their actions, make amends, or face consequences.

Oedipus Complex

A concept in psychoanalytic theory introduced by Sigmund Freud, which posits a child's unconscious sexual desire for the opposite-sex parent and jealousy toward the same-sex parent.

Freud

Sigmund Freud was an Austrian neurologist who founded the discipline of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.