Questions from General Economics

Q: If someone is in the 25 percent tax bracket, this means

If someone is in the 25 percent tax bracket, this means that ______ is owed in taxes. a) 25 percent of his or her salary b) 25 percent of his or her adjusted gross income c) 25 percent of his or...

Q: Economists note that a reason exists for policy makers to subsidize sports

Economists note that a reason exists for policy makers to subsidize sports stadiums, and it is that a) they bring in billions of dollars to their communities. b) they result in large increases in ci...

Q: A stock market exists a) only to service the sale

A stock market exists a) only to service the sale of new issues, called IPOs. b) to provide liquidity to all stocks, including recent IPOs. c) help policy makers predict the future. d) to make the...

Q: The predominant market form for the grocery business in the majority of

The predominant market form for the grocery business in the majority of U.S. cities is one of a) monopoly. b) oligopoly. c) monopolistic competition. d) perfect competition.

Q: If an attorney wishes to combine the small claims of many people

If an attorney wishes to combine the small claims of many people into one lawsuit against a defendant, he or she is engaging in a a) summary judgment. b) frivolous tort. c) pointed claim. d) class...

Q: The argument that increasing the number of casinos in a state will

The argument that increasing the number of casinos in a state will increase overall tax revenue in the state is a) substantially correct, because they pay substantial taxes. b) overstated but still...

Q: The chief effect of reinsurance is that a) insurance premiums

The chief effect of reinsurance is that a) insurance premiums are higher. b) insurance companies are prevented from engaging in fraud. c) insurance companies can offer insurance without fear of a m...

Q: Labor unions have greater representation in ________ employees. a)

Labor unions have greater representation in ________ employees. a) public b) service c) manufacturing d) retail

Q: To an economist, the correct distribution of money among police,

To an economist, the correct distribution of money among police, the justice system and prisons is one that a) sets an equal amount to each. b) sets the amount each gets equal to its average benefit...

Q: The suit against Microsoft accused it of a) using its

The suit against Microsoft accused it of a) using its own innovation to thwart competition. b) using its Windows monopoly to foster other monopolies. c) incorporating more innovations into the Off...