Question 1

State one possible objective of introducing a price ceiling on rent.

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Question 2

A per-unit subsidy of $s on a good will:

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Question 3

State one objective of introducing a minimum wage.

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Question 4

Define a price ceiling (maximum price).

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Question 5

State two reasons why a government might provide a subsidy.

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Question 6

A government subsidy on a good will shift:

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Question 7

An indirect tax on a good will shift:

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Question 8

Define a price floor (minimum price).

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Question 9

State two reasons why a government might impose an indirect tax.

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Question 10

State one possible objective of introducing a price ceiling on rent.

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Question 11

State two reasons why a government might impose an indirect tax.

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Question 12

An indirect tax on a good will shift:

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Question 13

Explain one opportunity cost of providing subsidies.

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Question 14

State two reasons why a government might provide a subsidy.

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Question 15

State one objective of introducing a minimum wage.

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Question 16

Define a price floor (minimum price).

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Question 17

Define a price ceiling (maximum price).

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Question 18

A government subsidy on a good will shift:

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Question 19

Explain one opportunity cost of providing subsidies.

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Question 20

Explain why consumers bear more of an indirect tax when demand is price inelastic.

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Topic 2.7: Role of Government in Microeconomics Questions

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