4) Which of the following is the problem with using price and quantity controls to decrease obesity rates?

A) setting a quota too low would lead to a black market

B) setting a price floor too high would lead to a black market

C) setting a price ceiling too high would be ineffective

D) they are not be effective due to substitutability

E) setting a price floor too low would be ineffective

7) The problem of market failure associated with imperfect information was government mandated food labels. The ineffectiveness of this solution is supported by the results of studies presented in lecture, in particular the 2011 Duke taco time study.

A) True

B) False

8) the application of an excise tax cause

A) the MC curve to shift downward

B) the MC curve to shift upward

C) the MB curve to shift downward

D) the MB curve to shift upward

9) In Edward Glaeser's model of hatred, it's important for the suppliers of hate to arrange for their audience (X) to have easy access to the hated group (Y) so that their (X's) resources can be directed towards their (X's) favoured politician and policies rather than wasted on 'information gathering' efforts.

A) True

B) False

11) Which of the following is not a general motive for why we care about each other?

A) altruism

B) fairness

C) reciprocity

D) self-preservation

13) The basis for 'friendship' in vampire bats is

A) Communal Parenting of Chicks

B) Feeding Reciprocity

C) Cooperative Hunting / Social Predation

D) Territorial and Roost Defense