Tag: Liberty ECON 213

Liberty ECON 213 Quiz 1 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 What is the strongest argument for why we need more economists today than ever before? Question 2 Google has started a project to scan all books and make those that are not copyrighted available to people free of charge. Why is it important that only books without a copyright are available? Question 3 How are changes in opportunity cost

Liberty ECON 213 Quiz 2 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 Economists use the scientific method and the tools of economics to study: Question 2 Ceteris paribus, if a society is producing at a point on the production possibilities frontier (PPF), it can only increase the production of one good by: Question 3 Goods that are produced today in order to make other valuable goods and services in the future

Liberty ECON 213 Quiz 3 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 When both supply and demand shift to the left, the: Question 2 If the price of a good increases, holding all else constant, Question 3 If all else is held constant, what would happen to the equilibrium price and quantity of iPhones if the price of an Android phone decreased? Question 4 Leading economic indicators suggest that incomes will

Liberty ECON 213 Quiz 4 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 What will happen in a market where a binding price floor is removed? Question 2 If a good is subject to a binding price ceiling and you purchase it on the black market, what do you expect to happen to the price over time? Question 3 Imagine you find yourself in a heat wave and your air conditioner has

Liberty ECON 213 Quiz 5 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 Taxing goods with very inelastic demand generates less deadweight loss than taxing goods with very elastic demand because: Question 2 When looking at a graph, the area under the demand curve and above market price is defined as: Question 3 If a tax is imposed on a good with a perfectly inelastic supply, the burden of the tax will

Liberty ECON 213 Quiz 6 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 Copyright laws exist to: Question 2 Externalities are minimized if: Question 3 To reduce the level of pollution emitted by firms in an industry, the government could use a capandtrade policy or a carbon tax. Which of the following is true? Question 4 External benefits arise from the actions of: Question 5 What type of good is often provided

Liberty ECON 213 Quiz 7 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 Which one of the following pairs of goods is likely to have a positive cross­price elasticity of demand? Question 2 If the income elasticity of demand for noodles is –2 and the percentage change in the quantity consumed is 5%, what is the percentage change in income? Question 3 The reason that Darren buys a lot more paintings when

Liberty ECON 213 Quiz 8 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 Accounting profit is equal to: Question 2 In the short run, average total costs and average variable costs converge as output increases because: Question 3 If the marginal cost curve is U­shaped: Question 4 Darrell owns a furniture store. His total costs are $225,000 per year, and his fixed costs are $150,000 per year. This means that his variable

Liberty ECON 213 Quiz 9 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 When marginal revenue equals marginal cost: Question 2 Dave’s Batting Cages is located in Boston, Massachusetts. During the first year of operation, Dave’s Batting Cages incurred many costs. In that year, Dave spent $5,000 on labor, $2,000 on maintenance, and $1,000 on electricity. Dave took out a loan to open his business, in which he would have earned $1,500,

Liberty ECON 213 Quiz 10 Answers Complete Solutions   Complete many different versions to get an A on your grade! The below shown is just one version sample. Download it for more and ace on your quizzes and exams! Question 1 Most economists are against monopolies because: Question 2 Refer to the accompanying table, which represents the costs and production for a monopolist, to answer the questions that follow. As production increases, the price consumers are willing to pay for the good: Question 3 Lobbying the government to place harsh tariffs on imports is a form of: Question 4 Refer