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29 Nov 2019
ECONOMICS 520 -INTERMEDIATE MICROECONOMICS
9. The demand curve for a good will shift outward whenever
(a) the price of the good falls.
(b) consumers wish to purchase more of the good at any given price.
(c) firms experience an increase in their marginal costs of production.
(d) both a and b
10. Which of the following statements is a normative statement?
(a) Rent controls lead to a reduction in the quality of rental housing.
(b) The dairy price support program gives rise to large surpluses of milk.
(c) Import quotas reduce overall economic welfare.
(d) The government should increase taxes on vice goods such as alcohol and cigarettes.
ECONOMICS 520 -INTERMEDIATE MICROECONOMICS
9. The demand curve for a good will shift outward whenever
(a) the price of the good falls.
(b) consumers wish to purchase more of the good at any given price.
(c) firms experience an increase in their marginal costs of production.
(d) both a and b
10. Which of the following statements is a normative statement?
(a) Rent controls lead to a reduction in the quality of rental housing.
(b) The dairy price support program gives rise to large surpluses of milk.
(c) Import quotas reduce overall economic welfare.
(d) The government should increase taxes on vice goods such as alcohol and cigarettes.
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