When the government implements programs such as progressive income tax rates, which of the following is likely to occur（）
A. equality is increased and efficiency is increased
B. equality is increased and efficiency is decreased
C. equality is decreased and efficiency is increased
D. equality is decreased and efficiency is decreased
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Your opportunity cost of going to a movie is（）
A. the price of the ticket
B. the price of the ticket plus the cost of any soda and popcorn you buy at the theater
C. the total cash expenditure needed to go to the movie plus the value of your time
D. zero, as long as you enjoy the movie and consider it a worthwhile use of time and money
The word “economy” comes from the Greek word oikonomos, which means（）
A. “environment.”
B. “production.”
C. “one who manages a household.”
D. “one who makes decisions.”
Adam Smith’s “invisible hand” refers to（）
A. the subtle and often hidden methods that businesses use to profit at consumers’ expense
B. the ability of free markets to reach desirable outcomes, despite the self-interest of market participants
C. the ability of government regulation to benefit consumers,even if the consumers are unaware of the regulations
D. the way in which producers or consumers in unregulated markets impose costs on innocent bystanders
Which of the following products would be considered scarce（）
A. bread
B. baseballs autographed by Babe Ruth
C. motorcycles
D. All of the above are correct
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