Documentos de Académico
Documentos de Profesional
Documentos de Cultura
A Problem-Solving Approach
3rd Edition
Chapter 2.............................................................................................................................1
Chapter 3.............................................................................................................................5
Chapter 4.............................................................................................................................9
Chapter 5...........................................................................................................................13
Chapter 6...........................................................................................................................17
Chapter 7...........................................................................................................................21
Chapter 8...........................................................................................................................25
Chapter 9...........................................................................................................................30
Chapter 10.........................................................................................................................34
Chapter 11.........................................................................................................................38
Chapter 12.........................................................................................................................41
Chapter (13)-14..................................................................................................................45
Chapter 15.........................................................................................................................50
Chapter 16.........................................................................................................................55
Chapter 17.........................................................................................................................60
Chapter 18.........................................................................................................................65
Chapter 19.........................................................................................................................70
Chapter 20.........................................................................................................................74
Chapter 21.........................................................................................................................78
Chapter 22.........................................................................................................................82
Chapter 23.........................................................................................................................87
Chapter 2
Multiple Choice Questions
4. Government regulation
a. provides incentives to conduct business in an illegal black market
b. plays no role in generating wealth
c. is the best way to eliminate poverty
d. does not enforce property rights
6. A price ceiling:
a. Is a government-set price above market equilibrium price.
b. Is the equivalent of an implicit tax on producers and an implicit subsidy to consumers.
c. Will create a surplus.
d. Causes an increase in consumer and producer surplus.
7. Taxes:
a. Impede the movement of assets to higher valued uses
b. Reduce incentives to work
c. Decreases the number of wealth creating transactions
d. All the above
8. A consumer values a car at $30,000 and a producer values the same car at $20,000. If the transaction is
completed at $24,000, the transaction will generate:
a. No surplus
b. $4,000 worth of seller surplus and unknown amount of buyer surplus
c. $6,000 worth of buyer surplus and $4,000 of seller surplus
d. $6,000 worth of buyer surplus and unknown amount of seller surplus
9. A consumer values a car at $525,000 and a producer values the same car at $485,000. If sales tax is 8%
and is levied on the seller, then the sellers bottom line price is
a. $527,000
b. $523,800
c. $525,000
d. $500,000
1. B
2. D
3. D
4. A
5. A
6. B
7. D
8. C
9. B
10. B