3. Leagues evolved as the best way for teams to maximize profits because they: A

Question

3. Leagues evolved as the best way for teams to maximize profits because they: A. allowed more teams to participate. B. negotiated nationwide media contracts. C. always shared revenue while other organizations did not. D. provided stability.

4. Just before the 2007 Daytona 500, NASCAR heavily fined several racing teams for using fuel additives that make cars go slightly faster. Why would NASCAR want to take steps to lower the speed of their race cars? A. Like MLB with steroids, NASCAR fears that if they don’t act to prevent the use of illegal substances, the federal government will step in and regulate their league. B. NASCAR fans prefer absolute quality over relative quality. C. NASCAR fans prefer relative quality over absolute quality. D. Slower cars provide for significantly better track safety. E. All of the above.

5. Because of the rent gradient, most stadiums are built: A. for multiple purposes. B. in the center of town. C. larger than they used to be. D. on the outskirts of town.

6. The Green Bay Packers could threaten to leave the city of Green Bay because: A. they are privately owned. B. they are a public corporation. C. they are a municipal corporation. D. None of the above.

7. Teams can persuade host cities to build them new stadiums because: A. they can always threaten to relocate the team. B. players are great at arguing for new stadiums. C. All of the above. D. None of the above.

8. Businesses like to locate in the center of town because: A. it will help to revitalize downtown. B. they can attract more customers. C. rent is low in the center of town. D. All of the above.

9. A small town is likely to have a smaller multiplier effect because: A. so much expenditure leaks out to surrounding towns. B. professional athletes are more likely to reside there due to cheaper real estate. C. the direct benefits of a professional franchise are smaller. D. fewer franchises locate in small towns than in large cities.

10. According to the principle of comparative advantage, Charles Woodson plays defensive back rather than receiver for the Green Bay Packers because: A. he plays defensive back better than he plays receiver. B. his advantage as a defensive back exceeds his advantage as a receiver. C. he is the best defensive back on the team. D. the other receivers on the team are better than he is.

Explanation / Answer

3)

Shared revenue

Leagues always share revenue among members

4)

B. NASCAR fans prefer absolute quality over relative quality

This is because additives can alter everything, If you use a very special chemical to go faster competitors might not be able to use similar chemicals, Further NASCAR is about cars not fuels

5) A

Multipurpose because they can use it for many purposes maximizing rent

6) A

Private organizations can always threaten to leave

7) D

If city thinks it is economically feasible then they will build stadiums

8) B

The main intention to stay downtown is to attract more customers

9) A

Small town needs to get everything from outside, This is reason for lower multiplier effect.

10) B

His advantage is more.

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