题目内容

Among the sources of economic inefficiency are all of the following EXCEPT

A.price regulations.
B.rapid technological change.
C.monopoly.
D.taxes and subsidies.

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The elasticity of supply measures the sensitivity of

A.quantity supplied to a change in price.
B.quantity supplied to quantity demanded.
C.supply to changes in costs.
D.price to changes in supply.

The statement that ( ) is a positive statement.

A.too many people in the United States have no health care insurance
B.more students should study economics
C.the price of gasoline is too high
D.the price of sugar in the United States is higher than the price in Australia

The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bottle of soda?

A.1/3 bag of corn chips per bottle of soda
B.3 bags of corn chips per bottle of soda
C.33¢
D.$3

If buyers of illegal goods are punished but sellers are not, then the price ( ) and the equilibrium quantity ( ).

A.rises; increases
B.falls; decreases
C.falls; increases
D.rises; decreases

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