ECO 204 Week 5 Quiz | Assignment Help | Ashford University
- ashford university / ECO 204
- 23 Aug 2020
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ECO 204 Week 5 Quiz | Assignment Help | Ashford University
Question 1
The profit-maximizing
firm equates the marginal benefit of labor to the marginal __________.
o
cost of labor
o
units of labor
o
profit
o
production
Question 2
What does the
monopolist do to keep price high?
o
use more resources
o
restrict the quantity of output
available
o
purchase low-quality resources
o
increase the number of workers
Question 3
The direct costs of
pursuing a higher education do NOT include __________.
o
books and supplies
o
student fees
o
college tuition
o
opportunity costs
Question 4
What is the largest
income redistribution program in the United States?
o
No Child Left Behind
o
Social Security
o
Temporary Assistance for Needy Families
o
Medicaid
Question 5
The personal
distribution of income measures how income is divided __________.
o
Among a society’s disadvantaged and
elderly
o
By a firm’s owner to his or her staff
o
By a firm’s financial officer to all
employees Correct!
o
Among a society’s population
Question 6
In the United States,
where do the poorest individuals tend to live?
o
in northern cities and the rural South
You Answered
o
in southern cities
o
in the rural North
o
in the rural Southwest and Northeast
Question 7
All but which of the
following are likely goals of a government bureau manager?
o
ease of management
o
profit maximization
o
greater bureau output
o
budget maximization
Question 8
Public choice theory
suggests that voters are more likely to adopt proposals with long-delayed
benefits if the __________.
o
benefits favor one region over another,
so that there is the opportunity for logrolling
o
benefits are dispersed rather than
concentrated
o
costs are presented as present values
o
costs can be delayed or concealed
Question 9
All of the following
are advantages of successful privatization EXCEPT __________.
o
privatization may encourage competition
with its resulting efficiencies
o
privatization may remove government from
labor negotiations and retirement commitments
o
privatization may enable smaller groups
to combine for purchasing services
o
privatization may avoid taxes by moving
revenue-consuming activities back to government
Question 10
Government failure
typically occurs because __________.
o
the public’s interest is hard to define
o
politicians act in their own
self-interest
o
no one gains from government action
o
large economies are difficult to manage
USA 
India