Multiple-Choice Questions

  1. Question

    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
    When the price of a normal good falls, consumers will ______ the quantity they want, in part because they now have more money to spend on these units, which economists call ______ .
  2. Question

    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
    Suppose market prices for potatoes were to increase by 10%, and potato farmers wanted to know whether or not their overall total revenues would rise or fall as a consequence. The farmers could figure this out by calculating which of the following economic concepts?
  3. Question

    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
    Suppose Jolene buys apples weekly. If the price of apples were to drop, Jolene would experience ______ in _____ .
  4. Question

    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
    Pizza and soda are often consumed together at Joe’s Diner. Suppose that the price of pizza rises from $0.75 a slice to $1.25 a slice, and consequently April sales of pizza drop from 1,050 to 950 slices. Using the midpoint method and this information, an economist could conclude the following:
  5. 529

    Question

    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
    Use the following information to answer Questions
  6. Question

    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
    After this tax is levied, total surplus will _______ , and the price received by producers (not including the tax) will ________ .
  7. Question

    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
    If economists were to study the tax incidence in this cigarette market, they would conclude which of the following?
  8. Question

    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
    In this example, cigarettes have
  9. Question

    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
    Jill is willing to sell her used calculator for $20. Her friend Jack is willing to pay $90 for a used calculator. They agree and trade at a price of $50. Which of the following is correct?
  10. Question

    image
    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
    Refer to the figure for Questions 1
  11. Question

    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
    Using the midpoint method, the price elasticity of supply between points
  12. Question

    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
    Suppose the government levies a tax on the buyers of jeans that shifts the demand curve from
  13. 530

    Question

    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
    Which of the following statements about the tax on jeans is true?
  14. Question

    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
    How much revenue would the government collect from the tax on jeans?
  15. Question

    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
    Buyers in the jeans market gain ______ in consumer surplus before the imposition of the tax, and they gain ______ in consumer surplus after the imposition of the tax.
  16. Question

    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
    Jeans and product X (not shown) have a cross price elasticity of 3.7. After the imposition of the tax on jeans, buyers’ consumption of product X would ______ because jeans and product X are ______ .
  17. Question

    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
    The deadweight loss caused by the tax on jeans is
  18. Question

    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
  19. 531

    Question

    kEXjFeBcACvG0vO9USnEm2+wIJcXM+taUSkF83iPTuTiFLMeA4PosdnP2LqtSGFRjWUzUpLV1wocCPpBiwcFoo1xbmsLDOKZ5Dg+N+JE4Rl5BuxC+YXR9QOfuVAwNsxmzACpfbk8HG0ZPPJcIcWgu6Rcl6g2Ea1gXo6Yc3MhAAkORDGtFPNckL2+E71e4Kv2fmbseKUD/X+UyGDgbdvzNzvHBQ2kTKbGJ5DT46jKBrgL0uTfHuTX3EPLMjapJtXtrED9O0pba1fateoEGLTUHk9hofguyizuZ44kheL+aYZpv7MsMLcIQjws3HXhRAg9q/QIP0i9F++yI5NL/n3ARD6XedC0vN7gH1GYjESwbueSHmAVAPY2+hG86ALDUxtd+EHjPkcBIdaBYnaN+N4Gpn1Zp8rd9hERS+Yoj44epGGayFRAK7YOmmkmbRHdlzwf8mMBDLq4Q4DtQ5Hiy0RlR4iSMKIFSuHGa4rmzkNhVnOhKBElbEcb3LS1rJJuXjib2l96ZymVNkiYqkVoRprwqcsKGn9PJ0NtpstawRJzbROpXjJI3CWpF4hG4uMyWBxFFJegSSgF8jAcR8NKSx3iRNy8zJ88j3aUUuGjgrrQidm7opR8FBBFOV+oAL8H0LkBbXm6YDZBXXDXMNd3yivo79DknnHywmfIhHHAtcEUxdb9eMGod/9lxm5VXDJQ7Urq+Gb1/MQuX1Ufdq8bfiIHknrY/HBykKoDkw9iHfhKJjnDHHRyR5O1uPL/NGlWDYt1qtjflZdCmJWDvWP/AazBO6JvG9v5cXubcveKcyMkzwuPgAaIQomHsUk1xvDgSPPhcRunz3s38+CMG+CXoiI04bSlXyqkQkbc71HGiWE+htwFg2HajbuHAYX41BhUWZjexM+IgvU05SA+MrU96+EnOJKDkCau0hgDpXoCXZmKa+TFSuqg9Fj+J3V6Z4ktkjhEz3K2/a8xcvi24sxtOXeAk/g/2Td9ZcgsIlvMwq4oVH+/sP+peJcJCUh2+RtwmB6wxZA/db3vSUneAfuZpmST9H72fwShDSsBAbA+v2HdK+TT4h2CshY09TvHavRxIOUokJdGDNPSUq957eIQ3sl2XgEKfoXqRoSaTqnhrzO6ZDrXY7MVW17EJd209GaOLo9u9sN0T3IRUNJcxgdWVIRlplWyXhpGmKmK7UckDut6HprdtDCY5KGjb4z7tLT5oM4TnPEbWjjmCrkDYMKw4lYBM4e9J3B0IhSL0byHa1iJh7qlsgeDg3UI3GvEWzKCZfR5rYXo7ZQlF0Ej06i05hnWqpe96ilJt9eyIL0oxbxLCFJh5mZakhRW4ztNifZHsPM+KBDlu0A5G93ysqp7/ZUHdcMORQiO+/Bv0KsK8pyniteuF81/aJZGI56acIsw9P9Xnmz4tQ==
    At the arcade, Jill likes the video games, which cost $0.50 to play, and the ball toss, which costs $2 to play. She has $6 to spend at the arcade. If Jill maximizes her utility, she will
  20. Question

    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
    Suppose that video games still cost $0.50 and the ball toss still costs $2, but Jill now has $10.50 to spend at the arcade. If Jill chooses her optimal consumption bundle, she will purchase 9 video games and 3 games of ball toss.