Micro Quiz

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In August 2000, the World Health Organisation said that a 10 % increase in cigarette prices worldwide would reduce consumption of cigarettes by 4 % in high-income countries and by 8 % in low-income countries.
The above statement suggests that....

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The diagram shows the demand and supply curves for wheat in the European Union (EU).
The free market price of wheat is OP1. It has been agreed as part of the Common Agricultural Policy (CAP) to maintain a price of OP2 within the EU and to do so through intervention buying. In achieving a price of OP2, the amount spent on intervention buying by the EU would be....

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In July 2007, smoking in enclosed public places in England became illegal.
Such a policy would inevitably lead to government failure if

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The table below shows the shares of disposable income in an economy for five income groupings, as a percentage of the total, for the period 2004 to 2009.
From the data it can be concluded that....

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A pure public good (or service) is always....

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In a buffer stock scheme....

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The cross elasticity of demand between two complementary products is always....

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Which one of the following is an appropriate form of government intervention for the problem identified?

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Which one of the following is associated with a missing market?

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‘Electricity suppliers are required to buy a growing amount of electricity from renewable
energy generators. By 2010, this must amount to at least 10 per cent of total electricity bought from all generators. Green energy generators are paid more for their electricity because there is a scarcity of supply of electricity generated from renewable resources.’
It can be deduced from the data above that....

Quiz on Micro Quiz, created by zoems on 11/05/2014.

In August 2000, the World Health Organisation said that a 10 % increase in cigarette prices worldwide would reduce consumption of cigarettes by 4 % in high-income countries and by 8 % in low-income countries. The above statement suggests that....

In July 2007, smoking in enclosed public places in England became illegal. Such a policy would inevitably lead to government failure if

The table below shows the shares of disposable income in an economy for five income groupings, as a percentage of the total, for the period 2004 to 2009. From the data it can be concluded that....

A pure public good (or service) is always....

In a buffer stock scheme....

The cross elasticity of demand between two complementary products is always....

Which one of the following is an appropriate form of government intervention for the problem identified?

Which one of the following is associated with a missing market?

The income elasticity of demand for bus travel is − 1.5. This means that....

In August 2000, the World Health Organisation said that a 10 % increase in cigarette prices worldwide would reduce consumption of cigarettes by 4 % in high-income countries and by 8 % in low-income countries.
The above statement suggests that....

In July 2007, smoking in enclosed public places in England became illegal.
Such a policy would inevitably lead to government failure if

The table below shows the shares of disposable income in an economy for five income groupings, as a percentage of the total, for the period 2004 to 2009.
From the data it can be concluded that....