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