Exam 2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | normative
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| The concept of equity focuses on: | show 🗑
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| show | above the price and below the demand curve.
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| On a market graph, producer surplus is the area that is: | show 🗑
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| show | the economic surplus at the efficient quantity minus the economic surplus at the actual quantity.
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| show | an inefficient outcome.
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| To maximize production, people should | show 🗑
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| The person who has an absolute advantage in a task | show 🗑
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| Comparative advantage explains why people | show 🗑
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| When a manager uses comparative advantage to assign tasks in a workplace, then each | show 🗑
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| Barlow and Rusia own a nail salon. A manicure takes Barlow 60 minutes to complete and takes Rusia 45 minutes to complete. Completing a pedicure takes Barlow 45 minutes and takes Rusia 30 minutes. Who has a comparative advantage in pedicures? | show 🗑
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| A trade cost is: | show 🗑
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| Which of the following is a source of comparative advantage? | show 🗑
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| A tariff is a: | show 🗑
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| show | It is government-provided financial funding to households to compensate for bad outcomes such as unemployment, illness, disability, or outliving their savings.
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| Which of the following is a social insurance program in the United States? | show 🗑
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| show | social insurance system.
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| show | the economic status of children is independent of the economic status of their parents.
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
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