Chapter 14 Online quizzes

Many university students drink more alcohol than recommended. Which of the following might be an explanation for this decision?

Attention bias

Optimistic bias

Information gaps

All of the given options are correct

Which of the following answers is correct for completing the table on the typology of goods:

A = Common Pool resources; B = Public Goods; C = Private Goods; D = Club Goods

A = Common Pool resources; B = Private Goods; C = Public Goods; D = Club Goods

A = Public Goods; B = Club Goods; C = Common Pool resources; D = Private Goods

None of the above options are correct

What is a collective action problem? Select the best answer.

A situation in which people fail to achieve an objective.

A situation in which people fail to cooperate even though it would be in their collective interest to do so.

A situation in which a group of people fail to achieve a shared objective.

A situation in which people are in conflict with each other.

Confirmation bias refers to which of the following?

A situation in which the way in which a problem is posed affects the solutions people come up with.

Taking into account only information that people have recently been exposed to.

The use of rules of thumb that help us think more efficiently.

The selective gathering and neglecting of (or giving undue weight to) information in order to support a previously held belief.

Is education a public good?

Yes.

No.

This is a difficult question, but it is clear that education has positive externalities.

The answer depends on the level of education you focus on.

In classical economics, private property rights lead to which of the following?

Ownership bias.

Fewer collective action problems.

Greater demand.

Innovation.

Which of the following examples is a case of free riding?

a student does not want to help another student with an individual essay for the class they take together.

a group of students decide collectively not to clean up their common room.

a group of students fails to submit a group paper because no one takes the initiative.

All of the options provided are correct.

Which of the following assumptions is not true for the Prisoner's Dilemma?

Players know the rules of the game and the different outcomes in the payoff matrix.

The game is non-cooperative.

Players are rational and want the shortest possible sentence.

Players know the moves of the other players.

Which of the following are possible solutions to the Tragedy of the commons?

Privatisation

Coercion

Information campaigns about the costs of overexploitation

All of the options provided are correct.

One of Ostrom's 8 principles for effective natural resource management is 'graduated sanctions'. What does this mean?

There should be congruence between appropriation rules, provision rules, and the resource system.

External governments should not challenge the right of local users to create their own institutions and sanctions.

Monitoring and sanctioning should be done by members of the community or by people accountable to those members.

Sanctions increase with the severity or repetition of violations.

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