Olympic Games Bids

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Questions and Answers

How much did the 2020 Tokyo Olympics cost?

$35 billion (correct)
$7 billion
$15 billion
$28 billion

What percentage of television revenue does the IOC keep from the Olympics?

10%
75%
25%
50% (correct)

What was the revenue generated by Beijing's 2008 Summer Olympics?

$40 billion
$5.2 billion
$3.6 billion (correct)
$18 billion

Which decade marked a turning point in the costs of hosting the Olympic Games?

1970s (B) Signup and view all the answers

What was the average cost overrun for each Summer Olympics since 1976?

250 percent (B) Signup and view all the answers

Which city was the only one to bid for the 1984 Summer Olympics?

Los Angeles (B) Signup and view all the answers

What costs do cities incur for hosting the games?

Cities invest millions of dollars in evaluating, preparing, and submitting a bid to the IOC, as well as planning, hiring consultants, organizing events, and necessary travel. (D) Signup and view all the answers

What is the range of infrastructure costs for hosting the games?

$5 billion to over $50 billion (C) Signup and view all the answers

What are the implicit costs of hosting the games?

The opportunity costs of public spending that could have been spent on other priorities. (A) Signup and view all the answers

According to the text, why do economists argue that the Olympic Games need reforms?

All of the above (D) Signup and view all the answers

What is one of the recommendations included in the Olympic Agenda 2020?

All of the above (D) Signup and view all the answers

What is one argument made by economists Baumann and Matheson regarding hosting the Olympic Games?

All of the above (D) Signup and view all the answers

According to the text, what are some of the reforms that many have called for in the process of selecting a host city for the Olympic Games?

Reducing the cost of bidding and encouraging cities to develop more sustainable development strategies (B) Signup and view all the answers

What has led to criticisms about the process for selecting a host city for the Olympic Games?

Massive costs and dubious benefits associated with hosting the Olympic Games (A) Signup and view all the answers

Which of the following statements accurately reflects the content of the text?

Reforms to the process of selecting a host city for the Olympic Games are necessary due to the high costs and lack of benefits associated with hosting the Games (C) Signup and view all the answers