Questions from General Economics

Q: The evidence is that welfare reform in 1996 resulted in ____ welfare

The evidence is that welfare reform in 1996 resulted in ____ welfare rolls. a) a substantial increase in b) a slight increase in c) a substantial decrease in d) no impact on

Q: The off-budget – on-budget distinction a)

The off-budget – on-budget distinction a) is important because two large programs, Social Security and Medicare, largely run off-budget. b) is a historical fiction. c) deals with long-lasting prod...

Q: In which type of mortgage to you build equity the fastest?

In which type of mortgage to you build equity the fastest? a) A zero-down mortgage b) A traditional constant-payment, 20 percent-down mortgage c) An interest-only mortgage d) A negative-amortizati...

Q: In 2015, which country had the largest trade surplus with the

In 2015, which country had the largest trade surplus with the United States? a) Saudi Arabia b) Canada c) China d) Japan

Q: For developed economies sustained increases in aggregate supply, absent increases in

For developed economies sustained increases in aggregate supply, absent increases in aggregate demand, will result in a) growth for a while, but ultimately it will result in only inflation. b) conti...

Q: Trade agreements are enforced a) militarily by the United States

Trade agreements are enforced a) militarily by the United States. b) militarily by the United Nations. c) by the consent of the parties to abide by the judgment of the arbitrators. d) only by the...

Q: When discussing an addictive drug, an economist is likely to focus

When discussing an addictive drug, an economist is likely to focus on a) both the external costs and the “information problem” associated with addiction. b) the moral costs totally. c) the cost of...

Q: If a chemical does environmental damage but is used in the production

If a chemical does environmental damage but is used in the production of a good that provides satisfaction to the consumer and profit to the producer an economist a) will insist that the market be le...

Q: The risk-averse person will buy health insurance a)

The risk-averse person will buy health insurance a) only if the expected health costs equal the insurance premium. b) only if the expected health costs are greater than the insurance premium. c) ev...

Q: When a 65-year-old goes to the hospital,

When a 65-year-old goes to the hospital, the part of Medicare that pays for the hospital bill is a) Part A. b) Part B. c) Part C. d) Part D.