Which of the following corresponds with non-competitivemarket failure?

• One international corporation with a monopoly on cotton seed production
• A tax on imported cotton that raises the price of cotton for consumers
• Pesticide used to keep cotton free of insects makes people sick
• Farmers unaware of market price for cotton

CEO "say on pay" was a result of __________.

• greater CEO involvement in "green initiatives"
• closer investor scrutiny of CEO pay
• CEOs deciding what type of stock options to issue their executive employees
• CEO involvement in selection of mutual funds in which to place their companies

Which of the following always occurs when a tax is imposed?

• Consumers pay more of the tax than producers.
• The price of the good will increase.
• Producers pay more of the tax than consumers.
• The quantity sold of the good will increase.

The following is a list of methods used togatherinformation on the burden pollution places on society.

Which of theseis used to analyze how regulation affects market prices?

• Hedonic pricing
• Cost-benefit analysis
• Healthcare outcomes
• Contingent valuation

In a pure market economy, public goods ___________.

• are over-provided, because the government is not involved in the economy
• are provided by the government
• tend to be under-provided
• are sold at a higher price than private goods

Which of the following is an example of a sustainable business practice as it relates to employment?

• Businesses lay off workers to keep costs down.
• Businesses trade labor for capital during periods of economic growth.
• Businesses lay off workers during downturns in the business cycle.
• Businesses recognize the benefit of keeping skilled workers in the long run.

Which potential shortcoming below matches the contingent valuation method?

• It might not consider the heterogeneity of the population.
• It is limited by assessed inputs and might not consider wider economic impacts.
• It assumesceteris paribusto evaluate observed pricing as a means to attribute costs to externalities.
• It relies on survey-based information that is subject to biases.

Which of the following describes the visual representation of the steps that form a process?

• Every process needs to be constructed as a closed loop.
• Almost all processes have been documented in this way.
• It plays an important role in efficiency evaluation.
• It is an established process that's been used for over a century.

A(n) __________ good is one that, when consumed by one person, cannot be consumed by another.

• rivalrous
• non-exclusive
• non-rivalrous
• exclusive

Which of the following is an example of the "tragedy of the commons?"

• It is difficult to keep people from polluting the air because it is rivalrous but not exclusive.
• It is difficult to keep common people out of private gardens because they are rivalrous and excludable.
• It is difficult to keep people from watching a fireworks display even if they don't pay because it is not rivalrous and not exclusive.
• It is difficult to keep people from watching the same movie because it is not rivalrous.

Which one of the answers listed is NOT a reason why businesses have been slow to adopt sustainable practices in regard to unemployment?

• Businesses might lay off people in order to meet profitability in a given quarter.
• Employment levels follow the business cycle.
• Sustainable business practices often seem counterintuitive.
• Sustainable business practices mean larger profits in the long run.

Which of the following is NOT related to governmentfailure?

• Information failure
• Principal-agent problems
• Moral failure
• Externalities

Which statement below does NOT describe the effect of climate change seenininsurance claim activities?

• Climate change has resulted in heightened weather volatility, which is reflected in insurance claims.
• The damage from climate change is expected to influence the spread of vector-borne disease.
• The limitation of insurance availability is expected to reduce economic growth.
• Global property and casualty insurers have paid out unprecedented sums related to natural disasters.

Choose the example below that is a coincidence indicator.

• LafferCurve
• Weekly jobless claims
• Unemployment rate
• Consumer confidence index

Where the supply curve is more inelastic than the demand curve, who bears more of the burden of a tax?

• There is not enough information to answer this question
• Both consumers and producers share the burden equally
• Consumers
• Producers

Sarah is a great teacher;however, she struggles with the technology used by potential students and school districts, and thus is not able to find work.

Sarah's type of unemployment is considered __________.

• frictional
• seasonal
• structural
• cyclical

Joe owns an electrical company that specializes in work on custom homes.

Which of the following economic indicators would be most helpful in Joe's line of business for helping him to decide whether or not toadd a permanent employee to payroll?

• The Conference Board Consumer Confidence Index
• The S & P 500
• The unemployment rate
• Building permits

A public good is considered which of the following?

• Non-rivalrous and exclusive
• Rivalrous and non-exclusive
• Non-rivalrous and non-exclusive
• Rivalrous and exclusive

Which statement below regarding welfare analysis is NOT true?

• It allows us to analyze the effects of public policy by evaluating consumer and producer surplus.
• We still need to exercise our judgment when analyzing these effects.
• It gives us clear-cut rules for knowing when costs outweigh benefits.
• We can use it to determine potential benefits of certain policies.