AP Microeconomics Unit 6
Quiz
•
Social Studies
•
10th Grade - University
•
Practice Problem
•
Medium
Brent Pfeiffer
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61 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the quantity demanded is lower that the social optimum what should the government do to raise the equilibrium to that optimum?
Nothing
tax the buyers
subsidize the sellers
subsidize the buyers
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the tax per unit?
$10
$18
$12
$8
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
G. Zachary Wilickers earns $35,000 per year and pays a 15% income tax while Hugh Mann earns $50,000 per year and pays a 17% income tax. This is an example of...
A Regressive Tax
A Progressive Tax
A Proportional Tax
A Flat Tax
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Octan is the leading producer of the Kragle. What will cause President Business to offer more world ending Kragle?
A competitor, Turbo Oil, lowers the price of their Kragle.
The price of a key ingredient increases.
The price of a key ingredient decreases.
The demand for the Kragle increases.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mr. Vergo finally realizes his dream of opening Holy Smokes. What will increase his demand for labor?
The price of charcoal increases?
Swine flu hits the US.
There is a baby boom among pigs and price of pork decreases.
The government taxes spare ribs.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Producer surplus is measured by
the area to the right of the supply curve but below the price equilibrium.
the sum of buyer and seller surplus
the area above the supply curve but below the equilibrium price.
the right of the demand curve and above the price.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following will cause the Production Possibilities Curve to shift outwards?
Workers become better trained
Forrest fires destroy 100,000 acres of land
War destroys factories
Skilled workers leave the country.
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