Question

1. Over the past few years, the price of home insurance has increased in Florida. Based on what we know about the fundamental problem all humans perpetually face: a. There is an imbalance between the amount of money Floridians would like to have in their bank accounts and the amount they have. b. Higher insurance premiums would end the problem of financial scarcity for the insurance industry. c. Financial scarcity is not an issue for people who own homes if they can afford the new insurance premiums. d. There would be no change in the amount of financial scarcity faced by Floridians since they have no choice but to pay the higher premiums. 2. In the wake of the pandemic, men between the ages of 25 to 54 make up the largest group of people who have refused to go back to work or seek employment. For those people we could conclude: a. The benefits of working are greater than the direct cost and opportunity cost of working. b. They are irrational. c. The opportunity cost of not working equals zero because people have a lot to gain by staying home and living off their fellow taxpayer. d. The benefits of remaining at home \textendash{} for these men \textendash{} are greater than the sum of the direct and opportunity cost. e. The benefits of remaining at home are greater than the direct cost of lost earnings. 3. Which of the following statements is true, based on what you learned about the economics of climate change policies? a. Prices for electric power have fallen drastically, especially in Europe, as a result of climate change mandates. b. Energy poverty has increased for nations in Africa that cannot afford to pay for alternative energy sources. c. Poorer people around the world have been able to have greater access to affordable energy, reducing energy poverty by over half. d. Based on the principles addressed in the essay, \textquotedbl{}I, Pencil\textquotedbl{}, there is no reason to expect for-profit companies to produce energy-saving devices without government subsidies. e. A and C only.

          1. Over the past few years, the price of home insurance has
increased in Florida. Based on what we know about the
fundamental problem all humans perpetually face:
a. There is an imbalance between the amount of money
Floridians would like to have in their bank accounts
and the amount they have.
b. Higher insurance premiums would end the problem
of financial scarcity for the insurance industry.
c. Financial scarcity is not an issue for people who own
homes if they can afford the new insurance
premiums.
d. There would be no change in the amount of financial
scarcity faced by Floridians since they have no
choice but to pay the higher premiums.
2. In the wake of the pandemic, men between the ages of 25
to 54 make up the largest group of people who have
refused to go back to work or seek employment. For
those people we could conclude:
a. The benefits of working are greater than the direct
cost and opportunity cost of working.
b. They are irrational.
c. The opportunity cost of not working equals zero
because people have a lot to gain by staying home
and living off their fellow taxpayer.
d. The benefits of remaining at home \textendash{} for these men \textendash{}
are greater than the sum of the direct and
opportunity cost.
e. The benefits of remaining at home are greater than
the direct cost of lost earnings.
3. Which of the following statements is true, based on what
you learned about the economics of climate change
policies?
a. Prices for electric power have fallen drastically,
especially in Europe, as a result of climate change
mandates.
b. Energy poverty has increased for nations in Africa
that cannot afford to pay for alternative energy
sources.
c. Poorer people around the world have been able to
have greater access to affordable energy, reducing
energy poverty by over half.
d. Based on the principles addressed in the essay, \textquotedbl{}I,
Pencil\textquotedbl{}, there is no reason to expect for-profit
companies to produce energy-saving devices
without government subsidies.
e. A and C only.

1. Over the past few years, the price of home insurance has
increased in Florida. Based on what we know about the
fundamental problem all humans perpetually face:
a. There is an imbalance between the amount of money
Floridians would like to have in their bank accounts
and the amount they have.
b. Higher insurance premiums would end the problem
of financial scarcity for the insurance industry.
c. Financial scarcity is not an issue for people who own
homes if they can afford the new insurance
premiums.
d. There would be no change in the amount of financial
scarcity faced by Floridians since they have no
choice but to pay the higher premiums.
2. In the wake of the pandemic, men between the ages of 25
to 54 make up the largest group of people who have
refused to go back to work or seek employment. For
those people we could conclude:
a. The benefits of working are greater than the direct
cost and opportunity cost of working.
b. They are irrational.
c. The opportunity cost of not working equals zero
because people have a lot to gain by staying home
and living off their fellow taxpayer.
d. The benefits of remaining at home – for these men –
are greater than the sum of the direct and
opportunity cost.
e. The benefits of remaining at home are greater than
the direct cost of lost earnings.
3. Which of the following statements is true, based on what
you learned about the economics of climate change
policies?
a. Prices for electric power have fallen drastically,
especially in Europe, as a result of climate change
mandates.
b. Energy poverty has increased for nations in Africa
that cannot afford to pay for alternative energy
sources.
c. Poorer people around the world have been able to
have greater access to affordable energy, reducing
energy poverty by over half.
d. Based on the principles addressed in the essay, I,
Pencil, there is no reason to expect for-profit
companies to produce energy-saving devices
without government subsidies.
e. A and C only.

Added by Tracy P.

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