Reading 1/1:
1) 'Price Gouging' after a disaster is good because
A. It motivates people to adapt, ensures the allocation of resources, and stabilizes supplies and prices.
B. It upsets the balance between demand and supply.
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C. It creates problems for the poor during a disaster.
D. It proves that Senators policies reinvigorate the economy.
2) The word "surge" in paragraph 2 probably means
A. descend B. Sink
C. Rocket
D. Crawl
3) "Mr. Nelson's office declared victory. Economists wept." - You can infer that A. Economists thought the plan would help undercut the price.
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B. Economists disagreed with Mr. Nelson.
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Economists totally agreed with Mr. Nelson's decision.Economists thought the decision was rational.
4) Which of the following statements is NOT true about price hikes?
A. Price hikes reduce the pressure on supplies.
Price hikes help raise public awareness about scarcity.
Price hikes make it more difficult for people to recover from disasters.
D. Price hikes encourage supplies to be moved to places that have higher demand.
5) Artificially low prices
A. reduce both demand and supply.
make customers stock more than they need.
C. help balance demand and supply.
D. limit artificial shortages.
6) What does "price-gouging" mean?
A. increasing prices for essential goods and services
B. restraining prices during natural disasters
Exit 1
