Question 2
Question 2 of 30

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Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct

Topics Tested

The tax and spending changes, in the form of fiscal policy, that cause budget balance or imbalance. Including calculations of the size of a budget deficit or surplus.

With respect to public goods, merit and demerit goods, external costs and external benefits, abuse of monopoly power and factor immobility.

Definition and examples of opportunity cost in different contexts.