PPOG 502 Quiz 2

PPOG 502 Quiz 2 Liberty University

Covers the Learn material from Module 3: Week 3 – Module 4: Week 4.

1. Setting maximum prices tends to:
2. Gwartney et al. says that “just one indicator, __________________, spontaneously carries so much information that it guides buyers and sellers to make decisions that help both obtain what they want.
3. All of the following would be examples of public goods except:
4. If the equilibrium price of gasoline is $4 and the price at this moment is $3, then the result will be
5. Adam Smith said that the individual “intends only his own gain, and he is… led by an invisible hand to promote an end which was not part of his intention.” By this, Smith meant that
6. Mises, in the assigned reading, says that the only legitimate function of government is:
7. According to Mises, efforts to control prices during the French Revolution
8. According to Gwartney et al., when the government spends money on a project, such as a high-speed train linking San Diego and San Francisco, the result will likely be
9. When property rights to resources are not defined or enforced, the resources
10. Mises mentions the Roman emperor Diocletian who mixed more and more inexpensive copper into the silver coinage. The result of this practice was:
11. According to Gwartney et al., a special interest group will be most effective in gaining what they want politically if
12. Profits result from which of the following?
13. “Protecting jobs” by imposing tariffs on imported goods is likely to
14. Public goods have two characteristics. They are:
15. Among the effects of rent control policies are:
16. Mises said, “when the government interferes with the market, it is more and more driven towards
17. Mises advocated
18. Mises argued in the assigned reading that
19. Mises says in the assigned reading that, while private businesses cannot operate at a continuing loss, governments can do so because:
20. The primary function of market prices is

Set 1

1. Among the effects of rent control policies are:
2. Mises mentions the Roman emperor Diocletian who mixed more and more inexpensive copper into the silver The result of this practice was:
3. “Protecting jobs” by imposing tariffs on imported goods is likely to
4. If the equilibrium price of gasoline is $4 and the price at this moment is $3, then the result will be
5. Gwartney et says that “just one indicator, , spontaneously carries so much information that it guides buyers and sellers to make decisions that help both obtain what they want.
6. Mises said, “when the government interferes with the market, it is more and more driven towards .”
7. According to Mises, efforts to control prices during the French Revolution
8. Mises advocated
9. Adam Smith said that the individual “intends only his own gain, and he is… led by an invisible hand to promote an end which was not part of his intention.” By this, Smith meant that
10. Mises says in the assigned reading that, while private businesses cannot operate at a continuing loss, governments can do so because:
11. Mises, in the assigned reading, says that the only legitimate function of government is:
12. Mises argued in the assigned reading that
13. According to Gwartney et , when the government spends money on a project, such as a high-speed train linking San Diego and San Francisco, the result will likely be
14. Public goods have two They are:
15. When property rights to resources are not defined or enforced, the resources
16. Profits result from which of the following?
17. The primary function of market prices is
18. All of the following would be examples of public goods except:
19. According to Gwartney et , a special interest group will be most effective in gaining what they want politically if
20. Setting maximum prices tends to:

Set 2

1. Profits result from which of the following?
2. Public goods have two characteristics. They are:
3. Mises said, “when the government interferes with the market, it is more and more driven towards
4. Mises says in the assigned reading that, while private businesses cannot operate at a continuing loss, governments can do so because:
5. Mises advocated
6. All of the following would be examples of public goods except:
7. Mises argued in the assigned reading that
8. According to Gwartney et al., when the government spends money on a project, such as a high-speed train linking San Diego and San Francisco, the result will likely be
9. The primary function of market prices is
10. Gwartney et al. says that “just one indicator, __________________, spontaneously carries so much information that it guides buyers and sellers to make decisions that help both obtain what they want.
11. If the equilibrium price of gasoline is $4 and the price at this moment is $3, then the result will be
12. Adam Smith said that the individual “intends only his own gain, and he is… led by an invisible hand to promote an end which was not part of his intention.” By this, Smith meant that
13. Mises mentions the Roman emperor Diocletian who mixed more and more inexpensive copper into the silver coinage. The result of this practice was:
14. According to Mises, efforts to control prices during the French Revolution
15. Among the effects of rent control policies are:
16. Mises, in the assigned reading, says that the only legitimate function is:
17. Setting maximum prices tends to:
18. When property rights to resources are not defined or enforced, the resources
19. “Protecting jobs” by imposing tariffs on imported goods is likely to
20. According to Gwartney et al., a special interest group will be most effective in gaining what they want politically if