题目内容

If a nation has high and persistent inflation, the most likely explanation is ( )

A. the central bank creating excessive amounts of money.
B. unions bargaining for excessively high wages.
C. the government imposing excessive levels of taxation.
D. firms using their monopoly power to enforce excessive price hikes.

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Which of the following government activities is motivated by a concern about equality . ( )

A. regulating cable TV prices
B. providing some poor people with vouchers that can be used to buy food
C. prohibiting smoking in public places
D. breaking up Standard Oil (which once owned 90 percent of all oil refineries) into several smaller companies

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Which of the following is a positive, rather than a normative, statement? ( )

A. Law X will reduce national income.
B. Law X is a good piece of legislation.
Congress ought to pass law X.
D. The president should veto law X.

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Producing a quantity larger than the equilibrium of supply and demand is inefficient because the marginal buyer’s willingness to pay is ( )

A. negative.
B. zero.
C. positive but less than the marginal seller’s cost.
D. positive and greater than the marginal seller’s cost.

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If production costs on the price and quantity of flat-screen TVs fall, ( )

A. Producer surplus increases
B. Producer surplus increases
Consumer surplus increases
D. Consumer surplus decreases

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If a nation has high and persistent inflation, the most likely explanation is ( )

A. the central bank creating excessive amounts of money. B. unions bargaining for excessively high wages. C. the government imposing excessive levels of taxation. D. firms using their monopoly power to enforce excessive price hikes.

Which of the following government activities is motivated by a concern about equality . ( )

Which of the following is a positive, rather than a normative, statement? ( )

Producing a quantity larger than the equilibrium of supply and demand is inefficient because the marginal buyer’s willingness to pay is ( )

If production costs on the price and quantity of flat-screen TVs fall, ( )

A. the central bank creating excessive amounts of money.
B. unions bargaining for excessively high wages.
C. the government imposing excessive levels of taxation.
D. firms using their monopoly power to enforce excessive price hikes.