Economics

When car makers began to cut the costs of producing cars by designing the chassi

When car makers began to cut the costs of producing cars by designing the chassis, engine, and transmissions so that different models could be produced on the same assembly line, …

When coins were first used, they only had an image on one side. Why did coins st

When coins were first used, they only had an image on one side. Why did coins start to have images on two To prevent people from shaving precious metals off the back side of coins…

When conducting incremental analysis, what step must always be taken immediately

When conducting incremental analysis, what step must always be taken immediately prior to beginning the pairwise comparisons? OPTIONS: Order the alternatives from highest to lowes…

When considering GDP as a measure of the nation\'s economic performance, which o

When considering GDP as a measure of the nation's economic performance, which of the following statements is not true? Question options: GDP is useful to map changes in the econom…

When considering effects on the automobile market, an increase in auto worker he

When considering effects on the automobile market, an increase in auto worker health benefits leads to: a. movement along the supply curve. b. movement along the demand curve. c. …

When considering the whole economy; marco economic equilibrium is defined as: A)

When considering the whole economy; marco economic equilibrium is defined as: A) total investment = total inventories B) total spending = total production C) total consuming = tot…

When consumer income increased from $5,000 to $6,000, the quantity demanded for

When consumer income increased from $5,000 to $6,000, the quantity demanded for a product falls from 100 units to 70 units. The point income elasticity of the product is Select on…

When consumers go into Walmart or Kroger or many major retail stores, they find

When consumers go into Walmart or Kroger or many major retail stores, they find store brands alongside national brands on the shelves. Often, the retail store puts signs up asking…

When consumers receive tax rebates and use them to pay down debt rather than to

When consumers receive tax rebates and use them to pay down debt rather than to increase spendng Select one the resulting fiscal stimulus will be the same size as the initial tax …

When current output is greater than potential output, which of the following mon

When current output is greater than potential output, which of the following monetary policies is the Federal Reserve (the Fed) likely to enact? Making imports more costly to incr…

When current output is greater than potential output, which of the following mon

When current output is greater than potential output, which of the following monetary policies is the Federal Reserve (the Fed) likely to enact? Decreasing reserves to increase in…

When customers purchase products or services, they expect them to meet certain s

When customers purchase products or services, they expect them to meet certain standards. For example, when customers seek medical services from an x-ray laboratory, they expect t…

When dealing with multinational operations, organizations must be conscious of b

When dealing with multinational operations, organizations must be conscious of both short- and long-term production costs. In this particular case, Apple is considering both of th…

When deciding between U.S. and British government securities, an American invest

When deciding between U.S. and British government securities, an American investor typically considers? .S. and British interest rates and anticipated changes in the exchange rate…

When deciding whether or not to undertake an activity, economists compare: Selec

When deciding whether or not to undertake an activity, economists compare: Select one: a. the total cost of the activity against the total benefit received. b. the total benefit o…

When deciding whether to leave a gap in a contract, the parties should consider

When deciding whether to leave a gap in a contract, the parties should consider all of the following except: the probability of an event occuring that will give rise to a loss the…

When defining the principle of diversification, we find that: Select one: a. con

When defining the principle of diversification, we find that: Select one: a. concentrating an investment in two or three large stocks will eliminate all of the unsystematic risk b…

When demand for a firm\'s product decreases, the firm can take a number of steps

When demand for a firm's product decreases, the firm can take a number of steps to adjust costs and quantities supplied to the market. Some are listed below. Which actions are sho…

When demand is inelastic, an increase in price will cause an increase in total r

When demand is inelastic, an increase in price will cause an increase in total revenue a decrease in total revenue no change in total revenue but an increase in quantity demanded …

When demand isunit elastic, price elasticity of demand a. equals 1 and total rev

When demand isunit elastic, price elasticity of demand a. equals 1 and total revenue and price move in the samedirection. b. equals 1 and total revenue and price move in opposited…

When demand remains the same and supply decreases the same, the new equilibrium

When demand remains the same and supply decreases the same, the new equilibrium price (increases, decreases, indeterminate) and the the equilibrium quantity (increases, decreases,…

When deriving the aggregate demand (AD) curve from the aggregate expenditure mod

When deriving the aggregate demand (AD) curve from the aggregate expenditure model, an increase in U.S. product prices would cause an increase in: the value of household wealth an…

When determining the amount of interest to be paid on a bond, which of the follo

When determining the amount of interest to be paid on a bond, which of the following information is not necessary? a.The length of the interest period, annually or semiannually. b…

When developing marketing plans, it\'s critical that marketing managers stay on

When developing marketing plans, it's critical that marketing managers stay on top of social change. There is no doubt that social media has changed consumer behavior, as nearly h…

When economic choice involves an adjustment to an existing situation, marginal a

When economic choice involves an adjustment to an existing situation, marginal analysis a. has no practical applications or real-world uses b. eliminates incorrect decisions and b…

When economists say that a good is non-rival in consumption, they mean that: A.

When economists say that a good is non-rival in consumption, they mean that: A. no one wants the good B.moe than one person can enjoy the good at the same time C.everyone wants th…

When economists say that people act as rational decision makers, that means a. t

When economists say that people act as rational decision makers, that means a. they gather all relevant information before making their purchases b. once a pattern of behavior has…

When economists say “sticky inflation,” they mean: inflation does not react dire

When economists say “sticky inflation,” they mean: inflation does not react directly to changes in fiscal policy. inflation does not immediately react to changes in monetary polic…

When economists speak of demand, they are referring to: Answer A. the quantities

When economists speak of demand, they are referring to: Answer A. the quantities people are able to buy at a point in time. B. the quantities people are willing to buy at a point …

When economists think about history, fluctuations often stand out--oil shocks an

When economists think about history, fluctuations often stand out--oil shocks and stagflation in the 1970s, a recession followed by a long expansion in the 1980s, a recession foll…

When economists think about history, fluctuations often stand out--oil shocks an

When economists think about history, fluctuations often stand out--oil shocks and stagflation in the 1970s, a recession followed by a long expansion in the 1980s, a recession foll…

When economists think about history, fluctuations often stand out--oil shocks an

When economists think about history, fluctuations often stand out--oil shocks and stagflation in the 1970s, a recession followed by a long expansion in the 1980s, a recession foll…

When existing firms in a competitive market are profitable, an incentive exists

When existing firms in a competitive market are profitable, an incentive exists for Answer new firms to seek government subsidies that would allow them to enter the market. new fi…

When explaining civil law one would say that it is concemed with disputes betwee

When explaining civil law one would say that it is concemed with disputes between persons and O a the public as a whole only Ob other persons only. O C other persons and between d…

When farmers raise hogs, there are a number of external costs. In particular, ho

When farmers raise hogs, there are a number of external costs. In particular, hogs generate methane gas. Without government regulation, the equilibrium price and quantity of ova r…

When final sales are larger than GDP, a. inventories did not change b. a net inc

When final sales are larger than GDP, a. inventories did not change b. a net increase in inventories took place c. a net decrease in inventories took place d. the direction of any…

When firms analyze the relationship between their level of protection and their

When firms analyze the relationship between their level of protection and their costs, they separate the lime period invoiced into morning and evening. 6 months or less; 6 months …

When firms are faced with making strategic choices in order to maximize profit,

When firms are faced with making strategic choices in order to maximize profit, economists typically use ____ to model their behavior. a. monopoly theory b. game theory c. cartel …

When firms are faced with making strategic choices in order tomaximize profit. e

When firms are faced with making strategic choices in order tomaximize profit. economists typically use a.the theory of monopoly to model their behavior b.the theory of aggressive…

When firms choose to standardize a product worldwide, what assumptions are they

When firms choose to standardize a product worldwide, what assumptions are they making about external and internal situations? Name and briefly describe five (5) assumptions these…

When firms in a competitive industry with low barriers to entry are earning posi

When firms in a competitive industry with low barriers to entry are earning positive economic profits 3.   When firms in a competitive industry with low barriers to entry are earn…

When firms leave a perfectly competitive market, then, other things remaining un

When firms leave a perfectly competitive market, then, other things remaining unchanged: the market demand will decrease but the market price will rise. the market supply will dec…

When firms reduce their target level of inventories, equilibrium expenditure and

When firms reduce their target level of inventories, equilibrium expenditure and real GDP . When firms plan to restock their inventories. equilibrium expenditure and real GDP . Th…

When free trade is allowed, the price of steel in this country is ______ and dom

When free trade is allowed, the price of steel in this country is ______ and domestic consumers purchase ______ tons of steel. $850; 60 $590; 60 $590; 140 $850; 100 Flag this Ques…

When govenment sets price equal to average total cost for a natural monopoly: a.

When govenment sets price equal to average total cost for a natural monopoly: a. the firm will experience losses b. economic profit is equal to zero. c. price will also be equal t…

When grocery stores issue special discount membership cards for shoppers effecti

When grocery stores issue special discount membership cards for shoppers effectively offering different prices based on quantities consumed, this is an example of Question 15 opti…

When grocery stores issue special discount membership cards for shoppers effecti

When grocery stores issue special discount membership cards for shoppers effectively offering different prices based on quantities consumed, this is an example of Question 15 opti…

When home owners became less concerned with the true value of their homes and in

When home owners became less concerned with the true value of their homes and instead focused on the value of their homes continually increasing, we had: A) idiotic speculation B)…

When hurricane Katrina devastated the Gulf coast, the businesses in the area, ev

When hurricane Katrina devastated the Gulf coast, the businesses in the area, even those not physically damaged by the storm, had losses. Explain how this illustrates the principl…

When income increases, not all of the additional income is spent. The increase i

When income increases, not all of the additional income is spent. The increase in saving that occurs expressed as % increase in income is known as ... the saving rate savings the …