Econ 213 quiz Study guides, Class notes & Summaries

Liberty University ECON 213 Quiz 7 · Question 1 2 out of 2 points A carbon tax would be an efficient method of addressing the problem of global warming because: · Question 2 0 out of 2 points When a negative externality is not internalized, then the equilibrium price of the good produced is too __________ and the equilibrium quantity produced is too __________. · Question 3 2 out of 2 points The government identifies a situation where production of a good is generating a negative ...

ECON 213 (Principles of Microeconomics) – Quiz Five Foundations of Economics – 30 out of 30 points Questions 1. Actions and activities are discouraged with which type of incentive? 2. In economics, choices are necessary because of the presence of: 3. What is the indirect incentive in the unemployment insurance program? 4. The government controls for many indirect incentives in safety net social program by: 5. Economists believe that optimal decisions are made up to the point where: 6....

Liberty University ECON 213 Quiz 4 QUIZ # 4 ECON 213 26 OUT OF 30 · Question 1 2 out of 2 points Use the following table to answer the questions that follow. What is the surplus when the price floor is $0.75 in the market for public transportation? · Question 2 2 out of 2 points Let’s say that you have a friend who was caught illegally buying a good on the black market. When the judge asks you to describe your friend’s motivati...

Liberty University ECON 213 Quiz 4 QUIZ # 4 ECON 213 26 OUT OF 30 · Question 1 2 out of 2 points Use the following table to answer the questions that follow. What is the surplus when the price floor is $0.75 in the market for public transportation? · Question 2 2 out of 2 points Let’s say that you have a friend who was caught illegally buying a good on the black market. When the judge asks you to describe your friend’s motivati...

Liberty University ECON 213 Quiz 3 Question 1 2 out of 2 points Assume that the market for baseballs is in equilibrium. There is a sudden decrease in income throughout the economy. If all else is held constant, we would expect that: Question 2 2 out of 2 points Some studies have shown that eating chocolate before a test can increase brain activity, thereby causing students to score higher on exams. When these findings were announced, the price and quantity sold of chocolate increased in coll...

Liberty University ECON 213 Quiz 6 · Question 1 2 out of 2 points Let’s say that you have a friend who was caught illegally buying a good on the black market. When the judge asks you to describe your friend’s motivation as a buyer, which of the following would most likely be your reply? · Question 2 2 out of 2 points How would an economist explain a teenager’s continued unemployment where there exists a minimum wage? · Question 3 2 out of 2 points If the local government tel...

Liberty University ECON 213 Quiz 1 ECON 213 QUIZ 1 100% 1. A health insurance company may offer its policy-holders a discount on their premiums if they prove that they have stopped smoking. What type of incentive is the health insurance company offering? 2. Comparative advantage emerges because of the presence of: The opportunity cost of a purchase is: Indirect incentive creates: A good is ____ if it takes even a small amount of time, energy, or money to ...

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