1.With an increase in labor productivity, there will be: A. A movement along the production-possibilities curve toward the cheaper good. B. An outward shift of the production-possibilities curve. C. No change in the production-possibilities curve. D. An inward shift of the production-possibilities curve. 2. A minimum wage law set above the current market equilibrium: A. Has no effect on the market for labor. B. Is justified because the burden of the law falls only on employers. C. Creates more employment opportunities for low skill workers. D. None of the above. 3.When the number of sellers in a market increases, ceteris paribus: A. The market supply curve shifts right. B. The market supply curve shifts left. C. So too will the number of buyers. D. Both (A) and (C). 4. If a farmer could plant either corn or wheat on the same plot of land, a change in the supply of wheat will take place when, ceteris paribus: A. The price of corn changes. B. The price of wheat changes. C. The demand for wheat changes. D. All of the above. 5. If the quantity demanded of a good is less than the quantity supplied of the good at the current price, then: A. Price will increase until it reaches the equilibrium price. B. The demand curve will shift to the left to create an equilibrium. C. The supply curve will shift to the right to create an equilibrium. D. There is a surplus of the good. 6. A leftward shift in a demand curve and a rightward shift in a supply curve both result in a: A. Lower equilibrium price. B. Higher equilibrium price. C. Lower equilibrium quantity. D. Higher equilibrium quantity. 7. When supply decreases, ceteris paribus, the equilibrium price will increase because: A. A shortage exists at the old equilibrium price. B. A surplus exists at the old equilibrium price. C. The quantity demanded has increased. D. The quantity supplied has decreased. 8. A leftward shift of the market demand curve, ceteris paribus, causes equilibrium: A. Price to increase and quantity exchanged to decrease. B. Price to increase and quantity exchanged to increase. C. Price to decrease and quantity exchanged to decrease. D. Price to decrease and quantity exchanged to increase. 9. Which of the following is a predictable effect of a price ceiling set below the current price? A. An increase in the quantity supplied. B. A market surplus. C. A decrease in the quantity demanded. D. None of the above. 10. In economics, a public good: A. Is any good produced by the government. B. Has social costs of production lower than private costs of production. C. Cannot be denied to consumers who have not paid. D. All of the above. 11. If a production of a good yields external benefits, then the: A. Social demand is less than the market demand. B. Social demand is greater than the market demand. C. Market demand is equal to the government demand. D. Both (B) and (C). 12. Suppose that if your income is $50,000, your tax is $10,000, but if your income is $100,000, your tax is $20,000. Such a tax is: A. Proportional. B. Progressive. C. Regressive. D. Similar to our current federal income tax structure. 13. If the United States decides to convert automobile factories to tank production, as it did during World War II, but finds that some auto manufacturing facilities are not well suited to tank production, then: A. Increasing opportunity costs will occur with greater tank production. B. The production-possibilities curve between tanks and automobiles will shift outward. C. Decreasing opportunity costs will occur with greater automobile production. D. The production-possibilities curve between tanks and automobiles will curve inward. 14. In a market with negative externalities, a tax on producers in that market will: A. Raise the market price and increase economic efficiency. B. Raise the market price and reduce economic efficiency. C. Lower the market price and reduce economic efficiency. D. Lower the market price and increase economic efficiency. 15. Which of the following changes in the market for HDTV's can best explain an increase in the equilibrium price? A. An increase in demand and a decrease in supply. B. A decrease in demand and an increase in supply. C. An increase in both demand and supply. D. A decrease in both demand and supply.
Why Choose Us
We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.
Professional Academic Writers
Over the years, MyEssay.Help has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.
Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.
We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.
At MyEssay.help, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.
Customer Support 24/7
Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: email@example.com.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
MyEssay.help has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.
At MyEssay.help, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.
Admission and Business Papers
Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.
Editing and Proofreading
Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.
We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.