Tag: Economics – Others

3Which of the following was the basic social and economic unit of early America during Jefferson’s time?
Multiple Choice
The legislature
The government
The school
The family

(Consider This) The term “economic investment” refers to money spent purchasing newly created capital goods such as factories and wireless networks.
True or False

Assuming the demand for gas is inelastic. The gov’t puts an increased tax on gas at the producer level. Will the producer or the consumer bear the burden of the tax? Why?

105 pointsAssuming the $12 price floor represented above is the current minimum wage, what area would firms gain in surplus as a result of eliminating the mandate?

Which of the following is the major monetary policy-making body of the U.S. Federal Reserve System?
Multiple Choice
FOMC
OCC
FRB bank presidents
U.S. Congress
Group of Eight

In microeconomics, the term ___________________ is synonymous with decreasing returns of scale.
diseconomies of scale
economies of scale
diminishing reutrns
monopoly

Pareto optimal or efficient represents a situation where there is no way to make someone better off without making anyone else worse off. Question 11 options: True False
True
False

Which of these countries have the most container port traffic per the CFR module on globalization?
Singapore; UAESouth Korea; JapanUnited States; JapanChina; United States

Suppose a price ceiling is binding. Either a decrease in demand or an increase in supply could turn the binding price ceiling into a non-binding price ceiling.
True
False

Identify whether each of the following is labor, capital, or a natural resource.a department storeuntapped oil deposits in Texasyour economics professora beach in Florida