Quiz

MONETARY ECONOMICS: What is the primary function of money in an economy?

A. A tool for measuring inflation

B. A medium of exchange, store of value, and unit of account

C. A means to eliminate credit transactions

D. A way to avoid taxation

HEALTH ECONOMICS: In health economics, what does the term 'moral hazard' refer to?

A. The risk of losing access to healthcare

B. The tendency of insured individuals to consume more healthcare services

C. The increase in the price of healthcare services

D. The government's role in healthcare financing

INTERNATIONAL ECONOMICS: What is the main goal of free trade agreements between countries?

A. To increase government intervention in trade

B. To restrict imports and exports

C. To reduce trade barriers and promote economic cooperation

D. To increase tariffs and protect domestic industries

-Friedrich Hayek

-Tyler Cowen

-Jean-Paul Kauffmann