V moodle.uleth. C + Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 2 of 17) Course Hero UofL THAT LUA Time left 2:24:18 Question 1 G DEFINITION Not yet answered The time spent looking for someone with whom to do business. Ch 06 - Matching Marked out of Definition .000 1 1 3 4 5 6 Flag question Ch 06 - Multiple Choice 7 8 9 10 11 12 13 14 15 Question 2 MATCHING DEFINITION 16 17 18 19 20 Not yet answered An illegal market in which the equilibrium price exceeds the price ceiling. Marked out of + Ch 06 - Application 1.000 21 22 23 24 25 Flag question Ch 07 - Matching Definition 26 27 28 29 30 Question 3 MATCHING DEFINITION Not yet answered A regulation that makes it illegal to trade at a price lower than a specified level. Marked out of Ch 07 - Multiple Choice 1.000 32 33 34 Flag question Ch 07 - Fill in the Blanks 35 36 37 38 39 40 41 42 43 44 45 46V moodle.uleth. C + Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 2 of 17) Course Hero UofL THAT LUA Time left 2:24:16 Question 1 MATCHING DEFINITION Not yet The time spent looking for someone with whom to do business. answered Ch 06 - Matching V C Marked out of Definition .000 Ad valorem tax Flag Black market 1 1 3 4 5 6 question Excise tax Inefficiency Ch 06 - Multiple Choice Marginal social benefit 7 8 9 10 11 12 13 14 15 Marginal social cost Question 2 Minimum wage 16 17 18 19 20 Not yet Price ceiling answered he equilibrium price exceeds the price ceiling. Price floor Marked out of Production quota Ch 06 - Application 1.000 Rent ceiling 21 22 23 24 25 Flag question Search activity Shortage Subsidy Ch 07 - Matching Tax incidence Definition Tax 26 27 28 29 30 Question 3 Voucher Not yet answered A regulation that makes it illegal to trade at a price lower than a specified level. Ch 07 - Multiple Marked out of 1.000 31 32 33 34 Flag question Ch 07 - Fill in the DIaTINS 35 36 37 38 39 40 41 42 43 44 45 46v moodle.uleth. C + Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 3 of 17) Course Hero UofL Time left 2:24:11 Question 4 MATCHING DEFINITION Not yet answered A token that the government provides to households, which they can use to buy specified goods and services. Ch 06 - Matching Marked out of Definition Flag 1 2 3 4 5 6 question Ch 06 - Multiple Choice 8 9 10 11 12 13 14 15 Question 5 MATCHING DEFINITION 16 18 19 20 Not yet answered The price sellers receive which also equals the sellers' minimum supply-price. Marked out of Ch 06 - Application 1.000 21 22 23 24 25 Flag question Ch 07 - Matching Definition 26 27 28 29 30 Question 6 MATCHING DEFINITION Not yet answered A regulation that makes the hiring of labour below a specified wage rate illegal. The lowest wage at which a firm may legally hire labour. Marked out of Ch 07 - Multiple 1.000 31 32 33 34 Flag question Ch 07 - Fill in the BlankS 35 36 37 38 39 40 41 42 43 44 45 46v moodle.uleth. + Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 8 of 17) Course Hero UofL Dan QUIZ TIaviyauon Untitled section Time left 2:23:59 Question 21 Wage Rate Quantity Supplied Quantity Demanded Not yet answered ($ per hour) (hours per week) (hours per week) Ch 06 - Matching Marked out of 15 5400 400 Definition 1.000 14 4900 900 Flag 13 4400 1400 1 2 3 4 5 question 12 3900 1900 11 3400 2400 Ch 06 - Multiple Choice 10 2900 2900 7 8 9 10 11 12 13 14 15 2400 3400 16 17 18 19 20 The table gives the supply and demand schedules for teenage labour in Genoa City. Suppose the Genoa City Council sets a minimum wage of $14 per hour. Teenage unemployment is hours. Ch 06 - Application 21 22 23 24 25 Previous page Next page Ch 07 - Matching Definition 26 27 28 29 30 Ch 07 - Multiple Choice 31 32 33 |34 Ch 07 - Fill in the Blanksv moodle.uleth. C + Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 9 of 17) Course Hero UofL Question 22 Refer to the figure to answer the following two questions. Time left 2:23:54 Not yet P answered 165 Ch 06 - Matching Marked out of Definition 8.000 150 Flag 1 2 3 4 5 135 question 120 Ch 06 - Multiple Choice 105 8 9 10 11 12 13 14 15 90 16 17 18 19 20 75 60 Ch 06 - Application 45 21 22 23 24 25 30 15 Ch 07 - Matching Q Definition 0 80 160 240 320 400 480 560 640 720 800 880 26 27 28 29 30 1) If the government imposes a binding price floor of $135.00 in this market, what is the result? a. There will be a units Ch 07 - Multiple Choice b. The redistribution of surplus from consumers to the producer is equal to $ 31 32 34 c. The deadweight loss due to price floor is $ Ch 07 - Fill in the Blanks 2) If the government imposes a binding price ceiling of $15.00 in this market, what is the result? 35 36 37 38 39 40 41 42 43 a. There will be a units . 44 45 46 b. The highest price that would be charged in a black market is $v moodle.uleth. C + 88 Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 9 of 17) Course Hero UofL MAY LUAS 120 Time left 2:23:51 Ch 06 - Multiple Choice 105 8 9 10 11 12 13 14 15 90 16 17 18 19 20 75 60 Ch 06 - Application 45 21 22 23 24 25 30 15 Ch 07 - Matching Q Definition 0 80 160 240 320 400 480 560 640 720 800 880 26 27 28 29 30 1) If the government imposes a binding price floor of $135.00 in this market, what is the result? a. There will be a units. Ch 07 - Multiple Choice b. The redistribution of surplus from consumers to the producer is equal to $ 31 32 33 34 c. The deadweight loss due to price floor is $ Ch 07 - Fill in the Blanks 2) If the government imposes a binding price ceiling of $15.00 in this market, what is the result? 35 36 37 38 39 40 41 42 43 a. There will be a of units . 44 |45 46 b. The highest price that would be charged in a black market is $ c. The deadweight loss due to price ceiling is $ Finish attempt ... 28 :58- Previous page Next pagev moodle.uleth. C + Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 10 of 17) Course Hero UofL Question 23 Refer to the figure to answer the following 8 questions. Time left 2:23:47 Not yet P answered Ch 06 - Matching 20 Marked out of Definition 8.000 18 Flag 1 2 3 4 5 question 16 14 Ch 06 - Multiple Choice 9 10 11 12 13 14 15 12 7 8 10 16 17 18 19 20 8 Ch 06 - Application 21 22 23 24 25 D after tax N Ch 07 - Matching Q Definition 0 80 160 240 320 400 480 560 640 720 800 26 27 28 30 1) The price buyers pay after the tax is imposed is $ 2) The price sellers receive after the tax is imposed is $ Ch 07 - Multiple Choice 31 32 33 34 3) The amount of the tax per unit imposed in this market is $ 4) The share of the tax burden per unit that buyers would pay is $ Ch 07 - Fill in the 5) The share of the tax burden per unit that sellers would pay is $ 35 36 37 38 39 40 41 42 43 6) The total tax amount collected by the government is $ 44 45 46v moodle.uleth. C + 88 Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 10 of 17) Course Hero UofL THAT LUAS Time left 2:23:44 8 9 10 11 12 13 14 15 12 10 16 17 18 19 20 8 Ch 06 - Application 21 22 23 24 25 N Ch 07 - Matching Q Definition 0 80 160 240 320 400 480 560 640 720 800 26 27 28 29 30 1) The price buyers pay after the tax is imposed is $ 2) The price sellers receive after the tax is imposed is $ Ch 07 - Multiple Choice 31 32 33 34 3) The amount of the tax per unit imposed in this market is $ 4) The share of the tax burden per unit that buyers would pay is $ Ch 07 - Fill in the Blanks 5) The share of the tax burden per unit that sellers would pay is $ 35 36 37 38 39 40 41 42 43 6) The total tax amount collected by the government is $ 44 45 46 7) The loss of consumer surplus is $ Finish attempt ... 8) The loss of producer surplus is $ X Previous page Next pagev moodle.uleth. C + Apple Google Search | Perlego U ECON-1010-N-Fall 2023: E3 U E3 (page 11 of 17) Course Hero UofL Question 24 Refer to the figure to answer the following three questions. Time left 2:23:37 Not yet answered Ch 06 - Matching Marked out of Definition 3.000 Flag 1 2 5 6 question Ch 06 - Multiple Choice 13 14 15 16 17 18 19 20 (a) Ch 06 - Application 21 22 23 24 25 Ch 07 - Matching Definition 26 27 28 29 30 (c) Q In which market(s) will the majority of a tax be paid by the buyer? Ch 07 - Multiple Choice O (a) 31 32 33 34 0 (b) O (c) Ch 07 - Fill in the Bla O (d) 35 36 37 38 39 40 41 In which market(s) will the majority of a tax be paid by the seller? 44 45 46 (a)G moodle.uleth,ca Apple Boogie SearchlPerlego U E3 (page 11 of 17) Time left 2:23:35 Ch 07 - Matching 0 Definition D 26'27'28'29'30' C a a In which market(s) will the majority of a tax be paid by the buyer? Ch 07 _ Multiple Choice '3' \" EB (17) _ 'C' Ch 07 - Fill in the Blanks \"\" 35'36'37'38'39H40H41H42H43' In which market(s) will the majority of a tax be paid by the seller? 3 E E (a) _ ('3) Finish attempt (C) (d) In which market(s) will the tax be most equally divided between the buyer and the seller? (a) (b) (0) (d) Previous page Next page 8 moodle.u|eth.ca Apple Google SearchlPerlego U E3 (page 12 of 17) Untitled section Time left 212331 E \"95m\" 25 Refer to the demand and supply equations to answer the following questions. Not yet i a D _ - answered Market demand Is glven as O 220 4P. Ch 06 _ Matchlng Marked cm of Market supply is given as 05 = 2P + 40. Definition 10.000 1) If the government imposes a binding price floor of $37.00 in this market, what is the result? 1 2 3 4 5 6 \\V Flag a. There will be a S of D units. 7 questlon b. The loss of consumer surplus to deadweight loss is equal to $ [3. Ch 06 - Multiple Choice 7 89101112131415 c The loss of consumer surplus to producer surplus is equal to $ t 1 17 1 1 2 do The TOTAL loss of consumer surplus is equal to $ . 6 8 Bl Bl e. The loss of producer surplus due to deadweight loss is equal to S D. Ch 06 - Application 2) If the government imposes a binding price ceiling of $18.00 in this market, what is the result? a E F 24 a. There will be a E: of units, b. The highest price that would be charged in a black market is 3 D. Ch 07 _ Matching c. The deadweight loss due to price ceiling is equal to $ D, Deflnltlon 26' 27 '28 '29 '30' Previous page Ch 07 ' MUItipl E 32 E E Ch 07 - Fill in the Blanks