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5 Written questions

5 Matching questions

  1. If supply is constant, a decrease in the demand for potato chips will cause:
  2. One reason our full employment goal is not zero percent is because:
  3. A price floor:
  4. According to the law of diminishing marginal utility:
  5. Which of the following is an example of the wealth effect during a period of inflation?
  1. a Creates a market surplus.
  2. b Marginal utility of a good declines as more of it is consumed in a given time period
  3. c Frictional unemployment will always exist.
  4. d A decrease in equilibrium price and a decrease in equilibrium quantity.
  5. e You hold money in a savings account that earns 5 percent interest while the price level doubles

5 Multiple choice questions

  1. The source of the free-rider dilemma.
  2. A laissez-faire approach.
  3. Decreases and the demand curve shifts to the left.
  4. -$76.
  5. The existence of substitute goods.

5 True/False questions

  1. Which of the following is not true about money?Property taxes

          

  2. The study of economics focuses on:Price and quantity demanded are inversely related.

          

  3. People find it difficult to get along without necessities, therefore demand for necessities:A recession.

          

  4. The goal of most business firms is to:Price and quantity demanded are inversely related.

          

  5. Which of the following events would cause a rightward shift in the supply curve for automobiles?Property taxes