Economics Basics: Think Like an Economist

Без верните отговори, за да са изненада, когато играеш.

1. Въпрос 1

   Maya skips a $50 shift at work to attend a free concert. What is her opportunity cost?

   • The $50 she would have earned
   • Nothing, since the concert was free
   • The cost of the concert ticket
   • The scarce seats at the concert

2. Въпрос 2

   Why does scarcity exist even in very wealthy countries?

   • Stores sometimes run out of goods
   • Governments print too little money
   • Resources are limited but wants are not
   • Some people cannot find a job

3. Въпрос 3

   The price of coffee rises. What happens to the demand curve for coffee?

   • It shifts left, then back right
   • It stays put; we move along it
   • It shifts to the right
   • It becomes perfectly vertical

4. Въпрос 4

   Which event would shift the demand curve for electric cars to the right?

   • A drop in the price of electric cars
   • A rise in the price of electric cars
   • A fall in buyers' incomes
   • A big rise in gasoline prices

5. Въпрос 5

   A city sets a maximum rent below the market equilibrium. What is the most likely result?

   • A shortage of apartments
   • A surplus of apartments
   • Rents rise above equilibrium
   • No change in the market

6. Въпрос 6

   The minimum wage is set above the equilibrium wage. Economists call it a…

   • Price ceiling
   • Price floor
   • Subsidy
   • Tariff

7. Въпрос 7

   When the price of a good rises 10%, sales fall 30%. Demand for this good is…

   • Inelastic
   • Perfectly inelastic
   • Unit elastic
   • Elastic

8. Въпрос 8

   Why is demand for insulin very inelastic?

   • Patients buy less when prices rise
   • It has few substitutes and is essential
   • Its price rises with inflation
   • Its supply curve keeps shifting

9. Въпрос 9

   Which of these is counted in this year's US GDP?

   • A used car sold this year
   • A share of stock bought online
   • A new house built this year
   • A grandparent's gift of $100

10. Въпрос 10

    Nominal GDP grew 5% while prices rose 3%. About how much did real GDP grow?

    • 15%
    • 8%
    • 3%
    • 2%

11. Въпрос 11

    Inflation was 4% last year. What does that tell you?

    • Every price rose by exactly 4%
    • The average price level rose by 4%
    • The economy grew by 4%
    • The money supply fell by 4%

12. Въпрос 12

    Zimbabwe printed huge amounts of money in the 2000s. What was the main result?

    • Citizens became much richer
    • Output grew rapidly
    • Prices fell across the economy
    • Prices rose out of control

13. Въпрос 13

    To fight high inflation, the Federal Reserve will most likely…

    • Raise interest rates
    • Lower interest rates
    • Raise income taxes
    • Cut interest rates to zero

14. Въпрос 14

    Congress cuts taxes and increases highway spending during a recession. This is an example of…

    • Monetary policy
    • Fiscal policy
    • A Federal Reserve rate cut
    • Contractionary policy

15. Въпрос 15

    Which person is counted as unemployed in official US statistics?

    • A retiree who doesn't want a job
    • A teenager too young to work legally
    • A stay-at-home parent not looking
    • A laid-off worker applying for jobs

16. Въпрос 16

    A US tariff on imported steel is mainly paid by…

    • The foreign steel makers
    • The exporting countries
    • US importers and buyers
    • The Federal Reserve

17. Въпрос 17

    Country A makes both cloth and wine faster than Country B. Can both gain from trade?

    • No, A should make everything
    • No, trade only helps the faster one
    • Only if B pays tariffs to A
    • Yes, by comparative advantage

18. Въпрос 18

    You paid $15 for a movie and hate it after 20 minutes. What should an economist do?

    • Stay, or the $15 is wasted
    • Stay until the $15 feels worth it
    • Leave if the rest of the time has better uses
    • Ask for an extra free movie

19. Въпрос 19

    A bakery decides whether to bake one more cake. Which comparison should it make?

    • Total cost versus total revenue
    • Extra cost versus extra revenue
    • Rent paid versus cakes sold
    • Last year's price versus today's

20. Въпрос 20

    A worker's pay rose 2% while prices rose 5%. What happened to her real wage?

    • It rose by 2%
    • It rose by 7%
    • It fell by about 3%
    • It stayed the same