1. According to the Social Cooperation and the Marketplace article, what is NOT
ID: 1231825 • Letter: 1
Question
1. According to the Social Cooperation and the Marketplace article, what is NOT necessary for social cooperation?A. For everyone to care about each other
B. Knowledge about people's preferences
C. Information about constantly changing conditions
D. Understanding the relative scarcity of items
2.According to Dwight Lee, what is the most difficult part of obtaining the right balance between energy production and conservation?
A. Getting people to accept cap and trade programs
B. Producing enough energy
C. Getting people to conserve energy
D. Gathering the information about available technology and what changes people are willing to make
3.According to Hayek, why is the price system important?
A. Prices deliver information to people in a condensed form
B. Prices tell us why people want more of a particular product
C. Prices are based solely on what consumers value
D. Prices tell us why producers have less of a particular product to sell
4.According to The Economic Advantages of a Commitment to Liberty, why is a commitment to liberty necessary?
A. The cost of government programs is often unseen
B. The benefits of government programs go to a few while the costs are paid by many
C. The costs of government programs are delayed and indirect
D. All of the above
5.
According to Politics and Foreign Trade, why do politicians put in place trade restrictions they know are harmful to consumers?
A. The cost to any one consumer is so small they have no incentive to lobby against it
B. The benefits to any one producer are so small they have no incentive to lobby against it
C. The larger the number of people harmed by a policy the greater their political influence
D. All of the above
Explanation / Answer
A. For everyone to care about each other
B. Producing enough energy
D. Prices tell us why producers have less of a particular product to sell
B. The benefits of government programs go to a few while the costs are paid by many
B. The benefits to any one producer are so small they have no incentive to lobby against it
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