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