Questions from Microeconomics


Q: What is the Patient Protection and Affordable Care Act (ACA)?

What is the Patient Protection and Affordable Care Act (ACA)? Briefly list its major provisions.

See Answer

Q: What is the Sarbanes-Oxley Act? Why was it passed

What is the Sarbanes-Oxley Act? Why was it passed?

See Answer

Q: Define the following terms: a. Asymmetric information b

Define the following terms: a. Asymmetric information b. Adverse selection c. Moral hazard d. Principal–agent problem

See Answer

Q: What is a tariff? What is a quota? Give an

What is a tariff? What is a quota? Give an example, other than a quota, of a nontariff barrier to trade.

See Answer

Q: What does it mean to be economically rational?

What does it mean to be economically rational?

See Answer

Q: Briefly discuss the difference between microeconomics and macroeconomics.

Briefly discuss the difference between microeconomics and macroeconomics.

See Answer

Q: Between them, Zillow and Trulia have a very large share of

Between them, Zillow and Trulia have a very large share of the market for online real estate listings. Real estate brokers who want to advertise their services next to online listings of houses for sa...

See Answer

Q: If, over time, the demand curve for a product shifts

If, over time, the demand curve for a product shifts to the right more than the supply curve does, what will happen to the equilibrium price? What will happen to the equilibrium price if the supply cu...

See Answer

Q: What do economists mean by an efficient tax?

What do economists mean by an efficient tax?

See Answer

Q: What is free riding? How is free riding related to the

What is free riding? How is free riding related to the need for public goods?

See Answer