SRM 2125 Final Exam Review

Competitive balance can be measured by

Which of the following are not shared among closed-league teams?

The Law of Demand states that as the ____ of a good decreases, the quantity that consumers demand increases.

Drew Brees and Von Miller are two of four players ever to receive the

Under which type of free agency must the player give the current team the first right of refusal?

Which league has the highest salary cap?

When players refuse to play with athletes of a different race or ethnicity, it is known as   

A team increases the price of its tickets for weekend games. This is an example of

When workers earn a large salary, they will generally choose to work more. This is known as the

Which type of union represents workers with a common skill?

_______ is when spending is shifted from one form of leisure to another.

Fans benefit from new stadiums in all of these ways except

Generally, the Income Effect is stronger than the Substitution Effect.

The portion of income that people spend is known as the

A luxury tax is a surcharge on the teams

The Uncertainty of Outcome Hypothesis states that the possibility of a team losing stimulates

Which type of league uses promotion and relegation?

An example of a non-rival good is (select all that apply)

What is the difference between what conumers are willing to pay and what they actually pay?

Which of the following is an opportunity costs of using taxpayer funds to construct a new stadium?

These types of skills increase productivity regardless of the industry one chooses to work in.

An example of a negative externality resulting from an Eagles game is

Which type of union assigns workers to employers?

The labor supply curve is

Which league as the softest salary cap?

What occurs when a consumer drops out of the market due to price increases?

A measurement of distaste in employer discrimination is the

Team owners tend to pay the largest portion of new stadiums.

If Sara saves 15% of her income then her marginal propensity to consume is

Once a good is available to someone, it is available to everyone. This means the good is

Which of these refers to outperforming those you are competing against during a specific competition?

The theory that people will attend more games is there is a possibility of favorite teams losing is:

Which type of union uses collective bargaining?

Players’ Associations are a form of

Specialization leads to greater

As a student, you get a discount on the price of tickets to an NHL game. This is an example of

If Bob's marginal propensity to save is 20%, then his marginal propensity to consume is

Politicians trade votes; 'I'll vote for yours if you vote for mine" regardless of what the people want. This is known as

Human capital is a measurement of one's

Which type of Franchise Tag offers the original team two additional draft picks if they let the player go?

Players Associations use features from both craft unions and industrial unions.

A _____ occurs when management does not allow employees to work.

If Sara saves 10% of her income then the money multiplier is

Which approach to discrimination focuses on the outcomes rather than the causes?

The Superstar Effect is not possible without

When workers earn a large salary, they will generally use the money on more leisure activities. This is known as the

The equilibrium price of hot dogs is $3.00. The vendor is selling the hot dogs for $4.50. What will be the result?

A player who can solicit offers from other teams but must give their current team first right of refusal is a/an

If a player refuses a transition tag, they are not permitted to play in the league for ____ year?

Stacking is another term for

Increasing the number of luxury boxes helps generate more revenue for the home team because

Using group averages to judge a player’s potential skills and abilities is known as

The sole buyer of a good or service is known as a

Politicians make decisions that do not always align with the will of the people. This is known as

The multiplier effect demonstrates how added ______ can spillover into the broader economy.