
2.7-2.9 Econ Quiz
Authored by Brittany Camp
History
12th Grade
Used 4+ times

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47 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In order to be binding, a price floor must be [ ] the equilibrium price.
above
below
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In order to be binding, a price ceiling must be [ ] the equilibrium price.
above
below
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a nation's income increases by 5% and quantity demanded for sports cars rises by 15%, income elasticity of demand for sports cars is
3
-3
0.33
-0.33
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The pre-tax consumer surplus would be
P6-L-P3
P6-J-P5
P3-L-P1
P2-N-P1
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The post-tax consumer surplus would be
P6-L-P3
P6-J-P5
P3-L-P1
P2-N-P1
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The post-tax producer surplus would be
P6-L-P3
P6-J-P5
P3-L-P1
P2-N-P1
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The tax revenue is represented by
P5-J-N-P2
P5-J-M-P3
JLN
JKL
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