Filters
Question type
Study Flashcards

If a binding price floor were placed in the market shown in the graph: A) quantity demanded would exceed quantity supplied. B) quantity supplied would exceed quantity demanded. C) the demand curve would have to shift. D) the supply curve would have to shift. If a binding price floor were placed in the market shown in the graph:


A) quantity demanded would exceed quantity supplied.
B) quantity supplied would exceed quantity demanded.
C) the demand curve would have to shift.
D) the supply curve would have to shift.

E) All of the above
F) C) and D)

Correct Answer

verifed

verified

If a price ceiling is set at $8 in the market shown in the graph, which area(s) would represent the surplus that is transferred from producers to consumers? A) C + D + F + G B) C + D C) F + G D) C If a price ceiling is set at $8 in the market shown in the graph, which area(s) would represent the surplus that is transferred from producers to consumers?


A) C + D + F + G
B) C + D
C) F + G
D) C

E) A) and B)
F) A) and C)

Correct Answer

verifed

verified

Which action could cause the price ceiling shown in the graph to become non-binding? A) An increase in demand (shift to the right) B) A decrease in supply (shift to the left) C) An increase in supply (shift to the right) D) None of these would cause the price ceiling to become non-binding. Which action could cause the price ceiling shown in the graph to become non-binding?


A) An increase in demand (shift to the right)
B) A decrease in supply (shift to the left)
C) An increase in supply (shift to the right)
D) None of these would cause the price ceiling to become non-binding.

E) A) and C)
F) All of the above

Correct Answer

verifed

verified

When a tax is placed on sellers:


A) sellers always bear a higher tax incidence than buyers.
B) buyers always bear a higher tax incidence than sellers.
C) its effect on the price buyers pay and sellers receive equals that of a tax on buyers.
D) None of these are correct.

E) B) and C)
F) C) and D)

Correct Answer

verifed

verified

The graph shown portrays a subsidy to buyers. What area(s) represent the deadweight loss that arises from this subsidy? A) D + H B) K C) E D) I + M The graph shown portrays a subsidy to buyers. What area(s) represent the deadweight loss that arises from this subsidy?


A) D + H
B) K
C) E
D) I + M

E) B) and C)
F) A) and B)

Correct Answer

verifed

verified

If a price ceiling is set at $8 in the market in the graph shown, the total number of units traded will: A) fall by 8, relative to equilibrium. B) fall by 15, relative to equilibrium. C) fall by 23, relative to equilibrium. D) increase by 15, relative to equilibrium. If a price ceiling is set at $8 in the market in the graph shown, the total number of units traded will:


A) fall by 8, relative to equilibrium.
B) fall by 15, relative to equilibrium.
C) fall by 23, relative to equilibrium.
D) increase by 15, relative to equilibrium.

E) A) and D)
F) A) and C)

Correct Answer

verifed

verified

Which action could cause the price ceiling shown in the graph to become non-binding? A) An increase in demand (shift to the right) B) A decrease in demand (shift to the left) C) A decrease in supply (shift to the left) D) None of these would cause the price ceiling to become non-binding. Which action could cause the price ceiling shown in the graph to become non-binding?


A) An increase in demand (shift to the right)
B) A decrease in demand (shift to the left)
C) A decrease in supply (shift to the left)
D) None of these would cause the price ceiling to become non-binding.

E) B) and D)
F) None of the above

Correct Answer

verifed

verified

If a price floor is set at $23 in the market shown in the graph, which area(s) would represent total surplus? A) A B) B + C + E + F C) A + B + E D) A + B + C + E + F If a price floor is set at $23 in the market shown in the graph, which area(s) would represent total surplus?


A) A
B) B + C + E + F
C) A + B + E
D) A + B + C + E + F

E) A) and C)
F) B) and C)

Correct Answer

verifed

verified

The graph shown demonstrates a tax on sellers. What is the amount of tax revenue being generated? A) $150 B) $80 C) $310 D) $135 The graph shown demonstrates a tax on sellers. What is the amount of tax revenue being generated?


A) $150
B) $80
C) $310
D) $135

E) C) and D)
F) A) and B)

Correct Answer

verifed

verified

For a price ceiling to have an impact on a market it must be set:


A) above the equilibrium price.
B) below the equilibrium price.
C) equal to the equilibrium price.
D) anywhere along the demand curve.

E) None of the above
F) B) and C)

Correct Answer

verifed

verified

The graph shown demonstrates a tax on buyers. How many fewer units are being sold due to the imposition of a tax on this market? A) 6 B) 9 C) 3 D) 12 The graph shown demonstrates a tax on buyers. How many fewer units are being sold due to the imposition of a tax on this market?


A) 6
B) 9
C) 3
D) 12

E) A) and B)
F) None of the above

Correct Answer

verifed

verified

Showing 161 - 171 of 171

Related Exams

Exam 1

Economicsand Life

149 Questions

Exam 2

Specializationand Exchange

154 Questions

Exam 3

Markets

170 Questions

Exam 4

Elasticity

159 Questions

Exam 5

Efficiency

145 Questions

Exam 7

Measuringgdp

127 Questions

Exam 8

Thecost of Living

115 Questions

Exam 9

Unemploymentand the Labor Market

115 Questions

Exam 10

Economicgrowth

134 Questions

Exam 11

Aggregateexpenditures

134 Questions

Exam 12

Aggregatedemand and Aggregate Supply

166 Questions

Exam 13

Fiscalpolicy

122 Questions

Exam 14

Thebasics of Finance

170 Questions

Exam 15

Moneyand the Monetary System

146 Questions

Exam 16

Inflation

151 Questions

Exam 17

Financialcrisis

108 Questions

Exam 18

Open-Marketmacroeconomics

124 Questions

Exam 19

Developmenteconomics

122 Questions

Show Answer