Economics

When indifference curves are bowed inward, the marginal rate of substitution is

When indifference curves are bowed inward, the marginal rate of substitution is Answer: increasing as the consumer moves to the right along an indifference curve. decreasing as th…

When inflation rose in the late 1970s, consumers moved money out of money market

When inflation rose in the late 1970s, consumers moved money out of money market mutual funds because their returns did not keep pace with inflation. consumers were unable to take…

When interest rates decrease, how might businesses and consumers change their ec

When interest rates decrease, how might businesses and consumers change their economic behavior? A. There will be more consumption spending on interest-sensitive items and more in…

When interest rates in a given economy are reduced, it causes firms to employ __

When interest rates in a given economy are reduced, it causes firms to employ __________ capital goods. In terms of the production function (graphed with labor on the horizontal a…

When is a producer\'s self-interest aligned with the social interest? This is on

When is a producer's self-interest aligned with the social interest? This is one of the major questions addressed by economic theory. The previous chapter explored the behavior of…

When is it not in the best interest of a company to hire additional workers in t

When is it not in the best interest of a company to hire additional workers in the short run? ___when the average product of labor is decreasing ___when the firm is in Stage II of…

When it appeared that the Affordable Healthcare Act was going to become a realit

When it appeared that the Affordable Healthcare Act was going to become a reality, various media outlets offered several predictions regarding how this was going to impact tempora…

When it comes to calculating the subsitution effect, for some reason I get reall

When it comes to calculating the subsitution effect, for some reason I get really confused as to why we calculate a new income. The book I'm reading says: "Let us calculate how mu…

When it comes to price and what we choose and what drivessales pls answer the qu

When it comes to price and what we choose and what drivessales pls answer the questions below Explain how increasing consumer price sensitivity affects thedemand curve. Are these …

When it comes to vehicle performance, there is often a tradeoff between speed &

When it comes to vehicle performance, there is often a tradeoff between speed & acceleration and safety features (high performance sports cars often have fewer safety features…

When making the decision to invest, the evaluation of the expected flow of futur

When making the decision to invest, the evaluation of the expected flow of future productive services that the investment project being considered will yield is an important consi…

When marginal cost is greater than marginal revenue at the current rate of produ

When marginal cost is greater than marginal revenue at the current rate of production, a decision maker can increase profits by decreasing production because Answer average revenu…

When marginal cost of another unit ofoutput is less than the current value of av

When marginal cost of another unit ofoutput is less than the current value of average total cost,producing another unit of output: A.   Decreases average total cost B.   Increases…

When marketing a new energy drink, what is product positioning? The place a prod

When marketing a new energy drink, what is product positioning? The place a product occupies in the minds of consumers. Shelf locations in mass retailers, grocery, and convenience…

When marketing and managing a business in another country, it is generally belie

When marketing and managing a business in another country, it is generally believed that business leaders should: Question 6 options: follx the same approach to management/marketi…

When marketing business-to-business products, the key to an effective segmentati

When marketing business-to-business products, the key to an effective segmentation, targeting, and positioning approach depends on: Using the proper multivariate statistical analy…

When markets are competitive, property rights are well defined, and decision-mak

When markets are competitive, property rights are well defined, and decision-makers are well informed, then Question 2 options: a) the market equilibrium is not economically effic…

When markets don\'t achieve efficiency, then: Choose one answer. a. they must ac

When markets don't achieve efficiency, then: Choose one answer. a. they must achieve equity. b. government must be participating in the market. c. government may intervene to impr…

When medical fee schedules are negotiated by two monopolists-one representing pa

When medical fee schedules are negotiated by two monopolists-one representing patients and one representing providers-the equilibrium medical fees will be greater than fees determ…

When monitoring an economy\'s overall performance. A.) the key short-run issue i

When monitoring an economy's overall performance. A.) the key short-run issue is fluctuations in economic activity and the key long-run issue is growth in productivity and living …

When more and more labor is employed (by keeping employment of all other factors

When more and more labor is employed (by keeping employment of all other factors of production constant) then in the short run, marginal physical product (or productivity) of labo…

When one commercial bank borrows from another commercial bank, it pays the _____

When one commercial bank borrows from another commercial bank, it pays the __________ rate, when the bank borrows from The Fed it pays the ____________ rate. Question 6 options: d…

When output is below its potential, what would most likely be happening in the e

When output is below its potential, what would most likely be happening in the economy? A. The unemployment rate is equal to its target rate and the capacity utilization rate is a…

When patent protection expires for a pharmaceutical company, it forces changes w

When patent protection expires for a pharmaceutical company, it forces changes within the company to adjust its business strategies from a monopolist position to a position that i…

When patent protection expires for a pharmaceutical company, it forces changes w

When patent protection expires for a pharmaceutical company, it forces changes within the company to adjust its business strategies from a monopolist position to a position that i…

When people feel wealthier they tend to consume a greater percentage of their di

When people feel wealthier they tend to consume a greater percentage of their disposable income and save a smaller percentage of their disposable income? True or false When people…

When people take out a loan, they pay a nominal interest rate. Likewise, bond yi

When people take out a loan, they pay a nominal interest rate. Likewise, bond yields are quoted in nominal terms. The nominal interest rate times the loan amount equals the dollar…

When people talk about the merit of Adam Smith\'s \"invisible hand,\" \"laissez

When people talk about the merit of Adam Smith's "invisible hand," "laissez faire," and how government should leave the market alone and it is only then the economy will work at i…

When performing tests of significance (i.e., t-test and F-test) in regression an

When performing tests of significance (i.e., t-test and F-test) in regression analysis, one must assume that the disturbance term follows the ___________ probability distribution.…

When policy-makers discuss ways of \"stabilizing the macro economy,\" what are t

When policy-makers discuss ways of "stabilizing the macro economy," what are they focused on? Police makers are focused on finding ways of establishing a balance between public se…

When price is greater than average variable cost but less than average total cos

When price is greater than average variable cost but less than average total cost at the profit-maximizing level of output, a firm should Answer continue to produce the level of o…

When price is greater than marginal cost for a firm in acompetitive market. a. m

When price is greater than marginal cost for a firm in acompetitive market. a. marginal cost must be falling. b. the firm must be minimizing it losses. c. there are opportunities …

When price rises, quantity supplied increases, and vice versa. This statement is

When price rises, quantity supplied increases, and vice versa. This statement is known in economics as: the Law of Increasing Opportunity Costs the Law of Supply the Law of Demand…

When prices of outputs in an economy become sufficiently high, causing productio

When prices of outputs in an economy become sufficiently high, causing production to exceed potential GDP, the results is that A) higher wages will encourage workers to take more …

When prices rise, but wages remain fixed in the short run? A)firms face profit o

When prices rise, but wages remain fixed in the short run? A)firms face profit opportunities, because real wages fall. B) firms reduce output, because the costs of their inputs in…

When profit-maximizing firms in competitive markets areearning profits, a.market

When profit-maximizing firms in competitive markets areearning profits, a.market demand must exceed market supply at themarket-equilibium price. b. market supply must exceed marke…

When quantity demanded responds substantially to change its price, demand is sai

When quantity demanded responds substantially to change its price, demand is said to be inelastic. elastic. unit elastic. perfectly elastic Demand for a good would tend to be more…

When quantity moves proportionately to the same amount as price, demand is: a. e

When quantity moves proportionately to the same amount as price, demand is: a. elastic, and the price elasticity of demand is 1. b. perfectly elastic, and the price elasticity of …

When real estate agents sell their own, rather than clients\', houses, they leav

When real estate agents sell their own, rather than clients', houses, they leave the houses on the market for a longer time (10 days longer on average) and wind up with better pri…

When referring to the question of whether the experimental stimulus made some di

When referring to the question of whether the experimental stimulus made some difference in the specific instance under investigation, one is referring to: external validity inter…

When referring to the question of whether the experimental stimulus made some di

When referring to the question of whether the experimental stimulus made some difference in the specific instance under investigation, one is referring to: external validity inter…

When resource markets are free to adjust, temporary differentials will cause b,

When resource markets are free to adjust, temporary differentials will cause b, c, and e to occur the allocation of fewer resources to lower-paid uses the equalization of payments…

When retailers sell flowers, candy, and jewelry, specifically targeting consumer

When retailers sell flowers, candy, and jewelry, specifically targeting consumers who are looking to buy Valentine's Day gifts, they are using segmentation. A) occasion B) usage r…

When selling e-books, music on iTunes, and downloadable software, the marginal c

When selling e-books, music on iTunes, and downloadable software, the marginal cost of producing and selling one more unit of output is essentially zero: MC = 0. All firms are try…

When short-term interest rates become lower in Tokyo than in New York, interest

When short-term interest rates become lower in Tokyo than in New York, interest arbitrage operations will most likely result in a(n)? Sale of dollars in the forward market Increas…

When should firms use cost-plus pricing? Cost-plus pricing may be the best way t

When should firms use cost-plus pricing? Cost-plus pricing may be the best way to determine the optimal price when A. it is easy to estimate demand and demand is relatively elasti…

When society produces the combination of goods and services on the PPF that it v

When society produces the combination of goods and services on the PPF that it values the most highly, society has achieved only production efficiency and definitely not allocativ…

When solving an assignment problem, if there are 5 sources and 5 destinations, w

When solving an assignment problem, if there are 5 sources and 5 destinations, which of the following statements is true? Select one: a. There are 10 arcs in network form and 10 o…

When someone owns an asset (such as a share of stock) that rises in value, he ha

When someone owns an asset (such as a share of stock) that rises in value, he has an "accrued" capital gain. If he sells the asset, he "realizes" the gains that have previously ac…

When someone owns an asset (such as a share of stock) that rises in value, he ha

When someone owns an asset (such as a share of stock) that rises in value, he has an "accrued" capital gain. If he sells the asset, he "realizes" the gains that have previously ac…