
What is Economics
Authored by Juan Sandoval
Other
12th Grade
Used 1+ times

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13 questions
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1.
FILL IN THE BLANK QUESTION
2 mins • 1 pt
What is Economics?
2.
FILL IN THE BLANK QUESTION
2 mins • 1 pt
All economics questions fall under which two categories?
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which one is an example of a normative question?
A person's opinion about a painting
The amount of money a person has in their bank account
A list of U.S. Presidents
A debate between two governmental candidates
4.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
Identify the POSITIVE statement made by Edward Glaeser in his research on the effects of income inequality.
The rich have profited the most from our open economic system, so it is only fair that their taxes are raised to help lift poor families out of the poverty they helped create.
The more unequal the distribution of income in a society, the more mental illness that society experiences.
5.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
Identify the NORMATIVE statement made by followers of Karl Marx.
Laborers should receive greater parts of capitalist profits.
The average income of the richest 10% of the population is about nine times that of the poorest 10% across the OECD, up from seven times 25 years ago.
6.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
Identify the POSITIVE statement mady by David Neumark in their research and his colleagues Lev Drucker and Katya Mazirov on the impacts of raising minimum wages in Israel.
Higher minimum wages will do more to redistribute income if the owners of businesses who pay the higher minimum are at the top of the income distribution, and conversely if minimum wage employers have relatively low incomes, the redistributional effects are weakened.
The minimum wage should be increased to $15.
7.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
Identify the NORMATIVE statement made by Harvard economist Raj Chetty regarding his research on social mobility and income inequality in America.
Rises in income inequality in America since the 1950s has caused social mobility to decline rapidly.
The government should giving low-income families housing vouchers to move into more desirable neighborhoods in order to increase their chances of improving their social status.
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