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.Management Sciences
Category: Market
Satellite television subscription and television detection devices are ways in which broadcasting companies address the ________ problem?
A. externality
B. market imperfection
C. deadweight burden
D. free rider
Which of the following is the government most likely to subsidies ?
A. Negative externalies
B. Positive externalities
C. Monopolies
D. Oligopolies
Which of the following shifts the demand for watches to the right ?
A. an increase in the price of watches
B. none of these answers
C. a decrease in the price of watch batteries if watch batteries and watches are complements
D. a decrease in consumer incomes if watches are a normal good
E. a decrease in the wage of workers employed to manufacture watches
The law of demand states that an increases in the price of a good ?
A. None of these answers
B. decreases the quantity supplied of that good
C. decreases the quantity demanded for that good
D. increases the quantity supplied of that good
A shift in supply will have more effect on price than quantity if ?
A. The price elasticity of supply is – 3
B. The price elasticity of supply is – 0.2
C. The price elasticity of supply is – 2
D. The price elasticity of supply is infinity
VAT is a good example of which kind of tax ?
A. Specific
B. Exercise duty
C. Direct
D. Ad valorem
A decrease (leftward shift) in the supply for a good will tend to cause ?
A. an increase in the equilibrium price and quantity
B. a decrease in the equilibrium price and an increase in the equilibrium quantity
C. none of these answers
D. a decrease in the equilibrium price and quantity.
E. an increase in the equilibrium price and a decrease in the equilibrium quantity
If a government were to fix a minimum wage for adult workers, economists would predict ?
A. wages in general would fall as employers tried to hold down costs
B. fewer young workers would be employed
C. the costs and prices of firms employing cheap labour would increase
D. there would be more unemployment
The effect of a tax to offset a negative externality will be to ____ price and ______ quantity?
A. reduce , reduce
B. increase, increase
C. increase, reduce
D. reduce, increase
Economists use the term Black Markets for situations where ?
A. goods are sold at prices above legal or official price.
B. buyers and/or sellers are not paying taxes as they should
C. illegal substances are sold
D. transactions are not recorded in the GDP figures.
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