Questions from General Economics

Q: Looking at the Figure 32.3, maintaining Pfloor as the

Looking at the Figure 32.3, maintaining Pfloor as the target minimum price (rather than equilibrium) would a) raise consumer surplus more than it would decrease producer surplus. b) raise producer...

Q: The argument that the minimum wage does not significantly increase unemployment is

The argument that the minimum wage does not significantly increase unemployment is based on a) producer surplus. b) consumer surplus. c) elasticity. d) aggregate demand.

Q: The model for a promoter is _____ whereas the model for scalpers

The model for a promoter is _____ whereas the model for scalpers is that of ________. a) monopoly; monopolistic competition b) monopolistic competition; perfect competition c) monopoly; oligopoly d...

Q: When an existing prescription drug goes over the counter a)

When an existing prescription drug goes over the counter a) everyone wins. b) drug companies win but consumer lose. c) drug companies lose but consumers win. d) drug companies likely win because...

Q: Which of the following is likely to occur after several years of

Which of the following is likely to occur after several years of relevant rent control? a) Rents exceeding equilibrium b) An increase in available housing c) A decrease in available housing d) Ren...

Q: The evidence on charter schools is that they a) have

The evidence on charter schools is that they a) have had no impact in any locations they have been tried. b) have had an enormously positive impact on education generally. c) have had a negative im...

Q: The evidence on charter schools is that they a) have

The evidence on charter schools is that they a) have had no impact in any locations they have been tried. b) have had an enormously positive impact on education generally. c) have had a negative im...

Q: Using a poverty line of $12,500, under the

Using a poverty line of $12,500, under the current system of calculating the poverty rate, which of the following people are considered to be in poverty and probably ought not to be? a) A rural famil...

Q: The typical Head Start teacher is a) an ill-

The typical Head Start teacher is a) an ill-trained minimum-wage worker. b) a professional credentialed worker making more than typical day-care worker. c) a college graduate making $30,000 a year...

Q: In 2013, a worker who earned $125,000 would

In 2013, a worker who earned $125,000 would have _____ in Social Security taxes taken out of his or her pay and _____ would also be paid by the employer. a) $17,396; $17,396 (both equal to $113,700*....