
Methods of government intervention
Authored by IB Economics
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9th - 12th Grade
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When does the producers take incidence of the indirect tax?
When PED>PES
When PES>PED
It is up to the producers
The tax burden is always split equally between consumers and producers
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does imposing the maximum price affect the market?
excess demand
excess supply
unemployment
good becomes inelastic
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is NOT a way to solve excess demand?
Subsidies to the producers
Direct provision to the consumers
Distribute stored goods
Sell goods abroad
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How to maintain a minimum price?
Impose an indirect tax
Subsidize producers
Quota for the producers
None are correct
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is NOT a reason for governments to impose minimum price?
Increase income
Protect minimum wage
Increase the demand for a good
To limit consumption of e.g inexpensive alcohol or cigarettes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the quantity demanded is lower because of the higher price
The good is inelastic
There is an excess demand
There is an excess supply
The supply is inelastic
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Indirect tax is imposed upon the expenditure in order to
Increase the quantity demanded
Increase the quantity supplied
Generate government income
To stabilize market’s equilibrium
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