he graph below to answer questions 50& s 67. Which of the following is the most

Question

he graph below to answer questions 50& s 67. Which of the following is the most seldom-used tool of monetary policy by the Fed? The Reserve Requirement b. The Discount Rate Open Market Operations d. c. None of the above Which of the following terms means selling a product below cost in foreign markets? 68. price leadership price warring D' b. loss leadership 69. Which type of economist that would be more likely to Qd believe the financial sector will be self-correcting? 50. Moving from point A to point B represents.. 51. Moving from point A to point C represents. ad 52. In the graph above, at price P, there is what condition exists? What will price do? 20 40 60 80 100 120 140 160 180 53. From 9:00 to 10:00 AM, Fred can sleep in, go to his economics lecture, or play tennis. Suppose that Fred decides to go to the lecture but thinks that, if he hadn't, he would otherwise have slept in. The opportunity cost of attending the lecture is... 70. Based on the graph above, it can be concluded that which of the following statements is (are) true? I.Hamilton has an absolute advantage in radios. 54. When grocery stores offer "buy 1 get I free" sales, they 55. In the expression, GDP-C+G+I+F, why is F usually 56. If the United States and Japan eliminated all trade barriers 57. If the United States and Japan eliminated all trade barriers 58. For what reason(s) are brain surgeons paid more than 59. If a new method made the production of pizzas three IL.Hamilton has an absolute advantage in televisions. Ill,Hamilton has a comparative advantage in televisions. IV.Hamilton has a comparative advantage in radios. are attempting to take advantage of the… represented by a negative number for the United States? between them, how might each benefit? between them, how might each suffer? ditch-diggers? 71. As the value of the U.S. dollar appreciates versus a foreign currency, which of the following is (are) true? I U.S. exports become more expensive to foreigners Il. Imports become more expensive for U.S. citizens. III. U.S. exports become cheaper for foreigners. IV. Imports become cheaper for U.S. citizens. 72. Which term describes the percentage of each additional 73. What is induced consumption? 74. What is autonomous consumption? dollar earned that one will spend? times faster than old methods, what would the impact be on the equilibrium price and quantity of pizzas sold? 65. If the federal government spends more in any given year than it receives in revenues, what is the difference called? 66. What is the single largest area of federal government Delallo Final Exam A

Explanation / Answer

Question 67). Answer :- Option c). Open market operations.

Question 68). Answer :- Option a). Dumping.

Question 69). Answer :- Monetarist economists.

Question 71). Answer :- Option IV). Imports become cheaper for U.S. citizens.

Question 72). Answer :- Marginal propensity to consume (MPC).

Explanation :- Marginal propensity to consume (MPC) refers to the ratio between change in consumption expenditure and change in income level. Marginal propensity to consume (MPC) denotes the percent of each additional dollar earned that one person will spend in an economy.

Question 73). Answer :- A consumption which is influenced by the level of income is called induced consumption. At higher levels of income, consumption expenditure tend to increase and at the lower level of income, consumption expenditure tend to decrease.

Question 74). Answer :- A consumption which is not influenced by the level of income is called autonomous consumption. In other words, Consumption expenditure as independent of the level of income is called autonomous consumption.

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