Question 1 he bulk of the nation\'s output is produced by: A-partnerships. B-pro

Question

Question 1 he bulk of the nation's output is produced by:

A-partnerships.

B-proprietorships.

C-corporations.

D-none of the above

Question 2 The relationship between the value and price of a stock suggests that:

A-the equilibrium price of a stock strikes a balance between those who think the stock is worth more and those who think it's worth less at the current price.

B-it is the market's best guess regarding the expected value of the company's future profits.

C-stocks are overvalued.

D-both A and B are true

Question 3 The regime changes in Tunisia, Egypt, and Libya through 2011 resulted in

A-an increase in the demand for oil and an increase in price.

B-a decrease in the demand for oil and a decrease in price.

C-an increase in the supply of oil and a decrease in price.

D-a decrease in the supply of oil and an increase in price.

Question 4: The equilibrium price is often considered to be "just right" because:

A-it equates the amount supplied with the amount demanded.

B-it does not result in a shortage.

C-it does not result in a surplus.

D-of all of the above.

Question 5: A minimum price set above the equilibrium price is a: A minimum price set above the equilibrium price is a:

A-demand price.

B-supply price.

C-price floor.

D-price ceiling.

Question 6: A market price support policy establishes price ________ the market equilibrium.

A-floors below

B-floors above

C-ceilings below

D-ceilings above

Question 7: A maximum price set below the equilibrium price is a

A-demand price.

B-supply price.

C-price floor.

D-price ceiling.

Question 8: A persistent shortage may occur if: A persistent shortage may occur if:

A-the government imposes a price ceiling.

B-a price floor is imposed.

C-demand keeps falling.

D-all of the above occur.

Question 9: Which of the following is a criticism that has been raised of government spending in support of corn-based ethanol?

A-limited reduction in dependence on foreign oil.

B-detrimental effects on the environment.

C-increased food prices and an increase in world hunger.

D-All of the above

Question 10: An arrangement in which consumers choose their health-care services while other institutions pay a share of the cost of those services is called a(n) ________ payer system.

A-provider fees

B-insurance premiums

C-third-party

D-catastrophic insurance

Explanation / Answer

(1) The bulk of the nation's output is produced by:corporations

(2)The relationship between the value and price of a stock suggests thatthe equilibrium price of a stock strikes a balance between those who think the stock is worth more and those who think it's worth less at the current price

(3)The regime changes in Tunisia, Egypt, and Libya through 2011 resulted ina decrease in the supply of oil and an increase in price.

(4)The equilibrium price is often considered to be"just right"becauseof all the above

(5)A minimum price set above the equilibrium price is a: A minimum price set above the equilibrium price is a: price floor

(6)A market price support policy establishes pricefloors above market equilibrium

(7)A maximum price set below the equilibrium price is a price ceiling

(8)A persistent shortage may occur ifthe government imposes a price ceiling

(9)Which of the following is a criticism that has been raised of government spending in support of corn-based ethanol

All of the above

(10)

An arrangement in which consumers choose their health-care services while other institutions pay a share of the cost of those services is calledinsurance premiumspayer system

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