Questions from General Economics

Q: We can measure how much someone values the personal touch of a

We can measure how much someone values the personal touch of a small grocery store by using the amount extra they pay at that store even when there is a Walmart in town. Economists call that a) revea...

Q: Which one of the following communities would likely see the greatest economic

Which one of the following communities would likely see the greatest economic impact from a new casino? a) Plainfield, IN (just outside Indianapolis) b) Gary, IN (outside Chicago and already has one...

Q: Which advantage does a typical developing country have in attempting to draw

Which advantage does a typical developing country have in attempting to draw foreign investment? a) Very low wages b) Poor education c) Easy profit repatriation d) Independent central banks

Q: Economists call the reduction in consumer confidence that resulted from the September

Economists call the reduction in consumer confidence that resulted from the September 11th attacks an _____ shock which leads to the ________. a) aggregate demand, aggregate demand curve shifting lef...

Q: Monopoly creates prices that are _____ which would exist under perfect competition

Monopoly creates prices that are _____ which would exist under perfect competition. a) lower than that b) equal to that c) greater than that d) more volatile than that

Q: The method of detecting sex discrimination most likely to minimize it would

The method of detecting sex discrimination most likely to minimize it would be to use a) simple differences in income between men and women. b) simple differences in full-time wages for men and wom...

Q: Using the monopoly power in one area to compel costumers to buy

Using the monopoly power in one area to compel costumers to buy goods in another area a) is a violation of the Sherman Anti-Trust Act. b) is legal, but bad business practice. c) is illegal but woul...

Q: The method of detecting sex discrimination most likely to maximize it would

The method of detecting sex discrimination most likely to maximize it would be to use a) simple differences in income between men and women. b) simple differences in full-time wages for men and wom...

Q: Wealth inequality is _____ related to the ratio of mean to median

Wealth inequality is _____ related to the ratio of mean to median wealth. a) positively b) negatively c) not

Q: A price support mechanism a) can only regulate supply.

A price support mechanism a) can only regulate supply. b) can only regulate demand. c) must involve government purchases. d) can involve government manipulation of the supply or demand of the goo...