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Quiz

Micro Quiz

zoems 11 perguntas

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Perguntas do quiz (11)

  1. 1In August 2000, the World Health Organisation said that a 10 % increase in cigarette prices worldwide would reduce consumption of cigarettes by 4 % in high-income countries and by 8 % in low-income countries.
    The above statement suggests that....
    1. ASmokers in high-income countries are twice as addicted to cigarettes as those in low-income countries.
    2. BDemand for cigarettes is price elastic in both low-income and high-income countries.
    3. CIncome elasticity of demand for cigarettes is higher in low-income countries than in high-income countries.
    4. DPrice elasticity of demand for cigarettes is negative in both high-income and low-income countries.
  2. 2The diagram shows the demand and supply curves for wheat in the European Union (EU).
    The free market price of wheat is OP1. It has been agreed as part of the Common Agricultural Policy (CAP) to maintain a price of OP2 within the EU and to do so through intervention buying. In achieving a price of OP2, the amount spent on intervention buying by the EU would be....    Imagem da pergunta 2
    1. AOP1 x OQ1
    2. BOP2 x OQ2
    3. COP2 x Q2Q3
    4. DOP2 x OQ3
  3. 3In July 2007, smoking in enclosed public places in England became illegal.
    Such a policy would inevitably lead to government failure if
    1. AThe government’s tax revenue from cigarette sales fell.
    2. BThe economic benefits arising from the ban were outweighed by its costs.
    3. CSome people continued to smoke cigarettes in their own homes.
    4. DJobs were lost in the tobacco industry.
  4. 4The table below shows the shares of disposable income in an economy for five income groupings, as a percentage of the total, for the period 2004 to 2009.
    From the data it can be concluded that....    Imagem da pergunta 4
    1. AOver the period shown all income groups, except the Top 40%, experienced a fall in their disposable income.
    2. BBetween 2007 and 2009 there was a small increase in inequalities of disposable income.
    3. CBetween 2004 and 2009 the rich became poorer and the poor became richer.
    4. DTotal disposable income remained constant over the entire period shown.
  5. 5A pure public good (or service) is always....
    1. AProvided by the government for all consumers.
    2. BProvided free of charge for all consumers.
    3. CAvailable for consumption by others when consumed by an additional person.
    4. DHeavily subsidised by the government.
  6. 6In a buffer stock scheme....
    1. AAn organisation might buy in the open market to maintain a minimum price in the market for a product.
    2. BGovernments restrict supplies of a product coming onto an open market in order to lower prices of the product.
    3. CBuffer stocks are kept to sell if the price of a product starts to fall.
    4. DBuffer stocks are sold when there are surpluses in the market.
  7. 7The cross elasticity of demand between two complementary products is always....
    1. ANegative
    2. BPositive
    3. CZero
    4. DGreater than 1
  8. 8Which one of the following is an appropriate form of government intervention for the problem identified?
    1. AThe introduction of pollution permits to limit positive externalities
    2. BThe use of a buffer-stock scheme to stabilise the price of a public good
    3. CThe imposition of a maximum price for a merit good
    4. DThe provision of a subsidy for a product which generates negative externalities
  9. 9Which one of the following is associated with a missing market?
    1. AA monopoly restricting output
    2. BThe production of a negative externality
    3. CA firm deciding to produce a private good
    4. DA government subsidising agricultural production
  10. 10‘Electricity suppliers are required to buy a growing amount of electricity from renewable
    energy generators. By 2010, this must amount to at least 10 per cent of total electricity bought from all generators. Green energy generators are paid more for their electricity because there is a scarcity of supply of electricity generated from renewable resources.’
    It can be deduced from the data above that....
    1. Athe government is subsidising the production of renewable energy.
    2. Bthe social cost of electricity generated from renewable resources is greater than the
      private cost.
    3. Cthe government is subsidising the negative externalities arising from the production of
      ‘green energy’.
    4. Delectricity suppliers are paying higher average prices for their electricity because some
      of the electricity is generated from ‘green sources’.

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Descrição
Quiz sobre Micro Quiz, criado por zoems em 11-05-2014.
Autor
zoems
Idioma
English
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