Questions from Microeconomics


Q: Angela puts $1,000 in a savings account that pays

Angela puts $1,000 in a savings account that pays 3 percent per year. What is the future value of her money one year from now? a. $970. b. $1,000. c. $1,003. d. $1,030.

See Answer

Q: A community has a nighttime energy demand of 50 megawatts but a

A community has a nighttime energy demand of 50 megawatts but a peak daytime demand of 75 megawatts. It has the chance to build a 90-megawatt coal-fired plant that could easily supply all of its energ...

See Answer

Q: Eric and Kyle are fishermen with different equipment and, as a

Eric and Kyle are fishermen with different equipment and, as a result, different costs for catching fish. Eric’s costs for catching fish are $1,000 per ton for the first five tons and then $2,500 per...

See Answer

Q: Good methods for helping to protect natural resources include: a

Good methods for helping to protect natural resources include: a. Establishing property rights and giving them to local users. b. Encouraging first-come-first-served property rights. c. Teaching peop...

See Answer

Q: What is the most important source of revenue and the major type

What is the most important source of revenue and the major type of expenditure at the federal level?

See Answer

Q: Identify each of the following taxes as being either progressive or regressive

Identify each of the following taxes as being either progressive or regressive. a. Personal income tax b. Sales taxes c. Payroll taxes d. Property taxes

See Answer

Q: Why might one administration interpret and enforce the antitrust laws more strictly

Why might one administration interpret and enforce the antitrust laws more strictly than another? How might a change of administrations affect a major monopoly case in progress?

See Answer

Q: True or false. Under the “rule of reason” that

True or false. Under the “rule of reason” that was established by the Supreme Court in the U.S. Steel case, a monopoly seller should be found guilty of violating antitrust laws even if it is charging...

See Answer

Q: Which of the following is the correct name for the idea that

Which of the following is the correct name for the idea that certain firms prefer government regulation because regulation shields them from the pressures of competition and, in effect, guarantees the...

See Answer

Q: The key to efficient resource allocation is shifting resources from low-

The key to efficient resource allocation is shifting resources from low-productivity to high-productivity uses. In view of the high and expanding physical productivity of agricultural resources, expla...

See Answer