GOVT 350 mid-term
Of the factors affecting economic growth in a nation, which is likely to be the most
important, according to Miller et al.? - ANS-Political and legal institutions in the country.
In several states, music therapists—who use music to aid in healing—have successfully
persuaded their state governments to license their occupation, so that no one who has
not satisfied the state's qualification requirements can advertise as a music therapist.
Which group would not benefit from these additional requirements? - ANS-Not: All
groups would benefit from these additional requirements.
According to Marx, the value of a good is determined by - ANS-the amount of labor that
went into its production.
Which of the following results are we most likely to see from farm subsidies? - ANS-Not:
Lower prices of food.
According to Miller et al., wind energy is - ANS-less sustainable than natural gas and
some other sources of energy, since building wind farms and backup generators uses
up more resources.
Which of the following is not consistent with the economic way of thinking? - ANS-Not:
The relevant costs and benefits are the marginal (incremental) ones.
Raising the minimum wage, according to Miller et al., will have the effect of -
ANS-increasing unemployment rates, particularly among the least skilled workers.
Which of the following is not consistent with Karl Marx's ideas? - ANS-Not: Business
owners try to increase their profits by paying workers as little as possible while taking
the "surplus value" for themselves.
In Iran, it is legal to sell a kidney. Suppose it became legal for Iranians to sell their
kidneys to non-Iranians for whatever price is negotiated between buyer and seller.
Which of the following would you expect to see as a consequence? - ANS-An increase
in the price of kidneys in Iran
Common law systems, like those in the US, UK, Australia, Canada, and Israel: -
ANS-reflect a conscious decision in favor of a limited role for government and
Of the factors affecting economic growth in a nation, which is likely to be the most
important, according to Miller et al.? - ANS-Political and legal institutions in the country.
In several states, music therapists—who use music to aid in healing—have successfully
persuaded their state governments to license their occupation, so that no one who has
not satisfied the state's qualification requirements can advertise as a music therapist.
Which group would not benefit from these additional requirements? - ANS-Not: All
groups would benefit from these additional requirements.
According to Marx, the value of a good is determined by - ANS-the amount of labor that
went into its production.
Which of the following results are we most likely to see from farm subsidies? - ANS-Not:
Lower prices of food.
According to Miller et al., wind energy is - ANS-less sustainable than natural gas and
some other sources of energy, since building wind farms and backup generators uses
up more resources.
Which of the following is not consistent with the economic way of thinking? - ANS-Not:
The relevant costs and benefits are the marginal (incremental) ones.
Raising the minimum wage, according to Miller et al., will have the effect of -
ANS-increasing unemployment rates, particularly among the least skilled workers.
Which of the following is not consistent with Karl Marx's ideas? - ANS-Not: Business
owners try to increase their profits by paying workers as little as possible while taking
the "surplus value" for themselves.
In Iran, it is legal to sell a kidney. Suppose it became legal for Iranians to sell their
kidneys to non-Iranians for whatever price is negotiated between buyer and seller.
Which of the following would you expect to see as a consequence? - ANS-An increase
in the price of kidneys in Iran
Common law systems, like those in the US, UK, Australia, Canada, and Israel: -
ANS-reflect a conscious decision in favor of a limited role for government and
