Regulation Multiple Choice Question Answers
Autor: goude2017 • October 15, 2018 • 11,789 Words (48 Pages) • 787 Views
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c. the probability of being convicted and the probability of being incarcerated
d. all of the above probabilities
- Disagreements between those who believe in the right to life and those who believe in the right of a woman to choose to have an abortion, rest basically, and most importantly, on
a. differences in logical understanding
b. differences in social understanding
c. differences in fundamental moral beliefs
d. differences in intelligence.
- The chapter on the tragedy of slavery in Sudan suggests that the effort to redeem slaves
a. is likely to succeed in eliminating slavery
b. is likely to succeed in reducing slavery
c. is likely to have no effect
d. may well increase the supply of slaves.
- You may have noticed that the price of gasoline has gone up recently owing to a relative increase in demand. Suppose we try to solve this problem by imposing a price ceiling on the price of gas at the pump. This would
- increase the amount of gas demanded
- decrease the amount of gas supplied
- cause a shortage of gas to emerge
- result in lines at gas stations
- all of the above
- Which of the following is not an example of non-price rationing
- a minimum wage law
- a maximum wage law
- rent control
- a tax on gas
- the sale of tickets to a movie that will be sold out
- Which of the following is true? The criminalization of the addictive drug trade
- has attracted those with a comparative advantage in the use of violence as suppliers
- has exerted a corrupting influence on crime enforcement
- has demanded a decreasing amount of enforcement over time as the war on drugs has progressed
- all of the above
- a and b of the above
Solution
- a
- c
- b
- b
- b
- b
- b
- a
- d
- a
- b
- c
- b
- e
- d
- a
- a
- c
- c
- d
- c
- d
- e
- d
- e
- In order to determine the share of any simple excise tax paid by the buyer and by the seller of the product being taxed, one must know
a. the size of the tax
b. the slope of the demand and supply curves to the left of the market price
c. the point at which the tax is collected
d. all of the above
e. a and b of the above
- A simple excise tax on cigarettes is likely to be borne
- mostly by the consumers of cigarettes
- mostly by the producers of cigarettes
- equally by both
- by neither producers nor consumers
- A simple excise tax on luxury goods is likely to be borne
- mostly by the consumers of cigarettes
- mostly by the producers of cigarettes
- equally by both
- by neither producers nor consumers
- An expenditure tax is usually collected from the
a. buyer, because it is the buyer who really pays the tax
b. seller, because it is the seller who really pays the tax
c. seller, because there are fewer seller than buyers and it is cheaper to collect it that way
d. none of the above is relevant; it is collected from either
- The provision of a subsidy per unit of good produced will result in
- more of that good being produced
- less of that good being produced
- a social loss
- a social gain
- a and c of the above
- According to Milton Friedman’s Capitalism and Freedom which of the following is true?
a. democracy is necessary for (economic) freedom
b. (economic) freedom is necessary for democracy
c. economic freedom and democracy always occur together
d. democracy never leads to dictatorship
- Increasing the time taken by the FDA to decide whether a drug is safe or not will result in which of the following?
a. a decrease in Type I errors
b.
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