PPOG 502 Quiz 2

PPOG 502 Quiz 2 Liberty Answers

  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
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