A) John Maynard Keynes B) Adam Smith C) Milton Friedman D) Vilfredo Pareto
A) Laissez-faire B) Utilitarianism C) Keynesian economics D) Monetarism
A) Excessive government regulation in the market B) Successful coordination of supply and demand C) Economic prosperity reached through competition D) When markets do not allocate resources efficiently
A) Negative impacts on market efficiency B) Direct financial gains from market exchanges C) Benefits received by individuals not directly involved in a market transaction D) Costs borne by those who did not benefit from a transaction
A) Progressive tax B) Value-added tax C) Income tax D) Sales tax
A) Total cost of production for a given product B) Tax revenue generated from consumer spending C) Profit margin for producers D) The difference between what consumers are willing to pay for a good/service and what they actually pay
A) Minimizing government intervention in economic activities B) Encouraging competition for market efficiency C) Maximizing overall happiness or utility in society D) Promoting individual rights and liberties
A) Fast food B) National defense C) Luxury cars D) Designer clothing
A) Keynesian economics B) Neoclassical economics C) Austrian economics D) Marxist economics
A) Perfect competition B) Information asymmetry C) Externalities D) Public goods
A) Income inequality B) Inflation rate C) Labor force participation D) Market demand
A) Government intervention to redistribute wealth B) Any policy change that reduces taxes C) A strategy to increase overall market competition D) A change that benefits at least one person without making anyone else worse off
A) Regulatory capture B) Monopoly pricing C) Market failure D) Pareto efficiency |