Tag: Economics – Others

Which of the following would NOT change demand?
Question 7 options:
the price of the product
information about the product’s health effects
the income of the consumers
the price of related products

Question 1What was Lincoln’s primary goal immediately following the Civil War?
reunifying the country
punishing the rebel states
improving the lives of former slaves
paying off the debts of the war

For a production possibility frontier with constant opportunity costs, the slope of the production possibility frontier will be:
Question 2 options:
0.
vertical.
positive.
negative.

. Question 8 Section 4-3c According to the text, the shifts in supply curve occurs when _______ factors change. (I) Input prices (II) Technology (III) Expectations (IV) Number of sellers

A real-life, long-running example of a binding price floor isQuestion 34 options:a) a ration price.b) a minimum wage law.c) an illegal market price.d) rent control.e) a price gouging law.

Multiple Choice Question
A policy designed to ensure that sellers receive a minimum price that is greater than what would be available at the market is a:
price ceiling
adjustment
reduction
floor

If the supply of land is fixed, a tax on land would be paidentirely by the landowners.entirely by the renters or users of the land.partly by landowners and partly by land users.only by workers.

nique Creations holds a monopoly position in the production and sale of magnometers. The cost function facing Unique is estimated to be TC = $100,000 + 20Q
What is the marginal cost (MC) for Unique?

If the price of a good or service rises, we generally expect the:
demand for the good to fall.
quantity of the good demanded to rise.
quantity of the good supplied to rise.
supply of goods to rise.

It is very easy for Evelyn to find inexpensive inputs for her business. Evelyn’s supply is therefore likely to be:
elastic.
inelastic.
neither elastic nor inelastic.
perfectly elastic.