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to 9. The state of Minnesota rations camping sites on a first come, first served system. This has led and is to what America did

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to 9. The state of Minnesota rations camping sites on a first come, first served system. This has led and is to what America did during World War II. Venezuela on to distribute food which is with camping sites. to what Minnesota does similar a. An increase in the demand for camping sites and a decrease in supply; not similar; relies; prices; b. A surplus of camping sites and downward pressure on prices; similar to; does not rely; non-price rationing; similar c. The state failing to maximize revenue from this shortage-creating system; similar to; does not rely; prices; similar . The opportunity cost of wasted time for many would-be campers; similar to; refuses to rely; the invisible hand; similar e. C and D only. 10. An increase in the minimum wage to $15 per hour would drive wages market equilibrium for low-level workers at Wal-Mart in poorer urban areas and would the market for the same type of workers in Williston, North Dakota. a. Below; have no impact on b. Above; have no impact on Below; cause unemployment d. Above; cause unemployment e. None of the above 11. Which of the following is the clearest example (according to the lessons of Adam Smith) of when government should attempt to interfere, in some manner, with a market outcome? a. When people refuse to get vaccinated for the Covid-19 virus and therefore expose others to possible infection or when they purchase offensive tattoos. b. When market transactions create negative externalities that threaten human lives or property. C. When people engage in price gouging during hurricanes or pandemics. d. When businesses pay wages that are too low to support a family. e. When people allow crab grass to be grown in their yards, destroying property values for their neighbors

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