Economics

Which statement best describes a command economy? A The production of goods and

Which statement best describes a command economy? A The production of goods and services is determined primarily through the action competitive markets, but the allocation (Le., t…

Which statement best describes the law of demand as it relates to currency marke

Which statement best describes the law of demand as it relates to currency markets? a. The law of demand only applies to goods and services, not currency. b. When the price of a M…

Which statement best exemplifies feminist theory? Society is composed of interre

Which statement best exemplifies feminist theory? Society is composed of interrelated parts that work to maintain society’s cohesion. Society has continuous struggles between the …

Which statement best illustrates the law of diminishing returns? A. The average

Which statement best illustrates the law of diminishing returns? A. The average total cost of the last unit of a resource used is less than the average total cost of the previous …

Which statement best illustrates the law of diminishing returns? Answer The aver

Which statement best illustrates the law of diminishing returns? Answer The average total cost of the last unit of output produced is less than the average total cost of the prece…

Which statement does NOT correctly describe bonds? Question 19 options: a. Munic

Which statement does NOT correctly describe bonds? Question 19 options: a. Municipal bonds are used by state and local governments to finance school, roads and other public projec…

Which statement is FALSE? A. When a bank borrows reserves from the Fed itself, i

Which statement is FALSE? A. When a bank borrows reserves from the Fed itself, it is said to be borrowing at the discount window. B. If the Fed reduces reserve requirements, banks…

Which statement is FALSE? a.If an economy is in a depression, an increase in out

Which statement is FALSE? a.If an economy is in a depression, an increase in output will have no effect on the aggregate price level. b.If an economy faces a horizontal aggregate …

Which statement is TRUE? Diminishing returns is said to occur as the marginal pr

Which statement is TRUE? Diminishing returns is said to occur as the marginal productivity of labor falls when a firm adds additional workers to a fixed amount of capital. Constan…

Which statement is TRUE? Diminishing returns is said to occur as the marginal pr

Which statement is TRUE? Diminishing returns is said to occur as the marginal productivity of labor falls when a firm adds additional workers to a fixed amount of capital. Constan…

Which statement is accurate in its description of consumer protection? The Consu

Which statement is accurate in its description of consumer protection? The Consumer Product Safety Commission has the power to order recalls, public warnings, and refunds. Safety …

Which statement is consistent with the law of supply? a. An increase in market p

Which statement is consistent with the law of supply? a. An increase in market price will lead to an increase in quantity supplied                                                 …

Which statement is correct? Answer In the short run the pure monopolist will max

Which statement is correct? Answer In the short run the pure monopolist will maximize total profits by producing at that level of output where the difference between price and ave…

Which statement is correct? Answer In the short run the pure monopolist will max

Which statement is correct? Answer In the short run the pure monopolist will maximize total profits by producing at that level of output where the difference between price and ave…

Which statement is correct? Answer Marginal cost is the change in average cost w

Which statement is correct? Answer Marginal cost is the change in average cost when there is a change in output of 1 unit The marginal cost curve cuts the average variable cost cu…

Which statement is correct? Answer Marginal cost is the change in average cost w

Which statement is correct? Answer Marginal cost is the change in average cost when there is a change in output of 1 unit The marginal cost curve cuts the average variable cost cu…

Which statement is correct? Answer Monopoly firms tend to be more internally eff

Which statement is correct? Answer Monopoly firms tend to be more internally efficient than competitive firms because they have a single goal of profit maximization Monopoly firms…

Which statement is correct? Answer Monopoly firms tend to be more internally eff

Which statement is correct? Answer Monopoly firms tend to be more internally efficient than competitive firms because they have a single goal of profit maximization Monopoly firms…

Which statement is correct? Answer To maximize profits a firm should produce at

Which statement is correct? Answer To maximize profits a firm should produce at that output at which total revenue is greatest In long-run equilibrium a competitive firm will prod…

Which statement is correct? The long-run supply curve for a purely competitive:

Which statement is correct? The long-run supply curve for a purely competitive: Answer Decreasing-cost industry will be upward-sloping Increasing-cost industry will be perfectly e…

Which statement is correct? The long-run supply curve for a purely competitive:

Which statement is correct? The long-run supply curve for a purely competitive: Answer Decreasing-cost industry will be upward-sloping Increasing-cost industry will be perfectly e…

Which statement is false? Cigarettes, motor vehicles, and pipelines are industri

Which statement is false? Cigarettes, motor vehicles, and pipelines are industries with high concentration ratios. Oligopolized industries have higher concentration ratios than mo…

Which statement is false? Under our economic system, most of the important decis

Which statement is false? Under our economic system, most of the important decisions are made in the market place. In our economy the price mechanism typically determines the answ…

Which statement is incorrect about the federal funds rate and discount rate? O T

Which statement is incorrect about the federal funds rate and discount rate? O The fed funds rate is indirectly changed by buying and selling 3-month Treasury bills ? The fed fund…

Which statement is incorrect? O Government Purchases will directly impact the ec

Which statement is incorrect? O Government Purchases will directly impact the economy A high marginal propensity to consume will have larger impact on aggregate demand than an eco…

Which statement is not correct? Answer The real cost of producing X is the amoun

Which statement is not correct? Answer The real cost of producing X is the amounts of products Y, Z, etc., which might have been produced with the resources devoted to X Diseconom…

Which statement is not correct? Answer The real cost of producing X is the amoun

Which statement is not correct? Answer The real cost of producing X is the amounts of products Y, Z, etc., which might have been produced with the resources devoted to X Diseconom…

Which statement is not true? You might have more than one option Market interest

Which statement is not true? You might have more than one option Market interest rate is always higher than Real interest rate The nominal dollar is Actual dollar Real interest ra…

Which statement is the most accurate? When we talk about big business in the U.S

Which statement is the most accurate? When we talk about big business in the U.S., we're talking about oligopoly. All oligopolists are very large firms. Oligopolists produce at th…

Which statement is true about products in the decline stage of the product life

Which statement is true about products in the decline stage of the product life cycle? A. Brand managers should phase-out this product as quickly as possible. B. A declining produ…

Which statement is true for perfectly competitive frims? A. Short run profit are

Which statement is true for perfectly competitive frims? A. Short run profit are always zero B. Each frim faces the industry (downward-sloping) demand curve. C. Each frim produces…

Which statement is true within the framework of rational choice economics? A. Wh

Which statement is true within the framework of rational choice economics? A. When the relative prices change a rational consumer's preference pattern will be altered. B. The budg…

Which statement is true? ( LO1 ) The utility of a plasma TV is greater than the

Which statement is true? (LO1) The utility of a plasma TV is greater than the utility of a 2001 Honda Accord. A $50 ticket to a Broadway show provides the ticket-holder with more …

Which statement is true? A. There was a great deal of stagfla B. We had the wors

Which statement is true? A. There was a great deal of stagfla B. We had the worst recession since World War Il in the late 2000s C. We have had twelve reces D. All of the choices …

Which statement is true? Product differentiation can take place even if there ar

Which statement is true? Product differentiation can take place even if there are no physical differences among products. Price discrimination is not possible in monopolistically …

Which statement is true? Punishment: a. b. c. does not teach reinforces learning

Which statement is true? Punishment: a. b. c. does not teach reinforces learning is an ineffective process d. should be avoided at all costs 28) The real goal of discipline is to:…

Which statement is true? d. Trade cannot take place unless each trading partner

Which statement is true? d.  Trade cannot take place unless each trading partner has an absolute advantage in the production of the good or service that it is trading. Statement I…

Which statement reflects the most probable impact on the prime interest rate of

Which statement reflects the most probable impact on the prime interest rate of a change in the federal funds rate? O The prime rate will move in the same direction as the federal…

Which statement(s) is (are) true? I. In the long-run, a firm can experience incr

Which statement(s) is (are) true? I. In the long-run, a firm can experience increasing, decreasing, or constant returns to scale. II. If a firm doubles all of its inputs with the …

Which statement(s) is (are) true? I. In the long-run, a firm can experience incr

Which statement(s) is (are) true? I. In the long-run, a firm can experience increasing, decreasing, or constant returns to scale. II. If a firm doubles all of its inputs with the …

Which statements are true and which are false? The point at which the economy tu

Which statements are true and which are false? The point at which the economy turns from expansion to contraction is called a business cycle peak. Its possible that the economic o…

Which tax is paid by consumers to vendors at the point of sale? sales tax proper

Which tax is paid by consumers to vendors at the point of sale? sales tax property tax wealth tax excise tax Which of the following is equal to government revenue losses attributa…

Which term below refers to a nation\'s transportation and communications network

Which term below refers to a nation's transportation and communications networks, power generating facilities, educational institutions, and the legal, economic, and financial sys…

Which tool of monetary policy will the Federal Reserve Bank use to raise the fed

Which tool of monetary policy will the Federal Reserve Bank use to raise the federal funds rate from 2% to 2.25%? Question 1 options: Open-market operations The discount rate A ch…

Which two curves are tangent to each other in amonopolistically competitive mark

Which two curves are tangent to each other in amonopolistically competitive market with zero economicprofit. a. Demand and average variable cost b.Demand and average total cost. c…

Which two spot interest rates are needed to find a two-year forward rate expecte

Which two spot interest rates are needed to find a two-year forward rate expected three years from now? A. three- and five-year rates B. two- and three-year rates C. two- and five…

Which two things happened more or less simultaneously to bring an end to the era

Which two things happened more or less simultaneously to bring an end to the era of low productivity growth that lasted from 1973 to 1995? The information revolution and the creat…

Which type of discrimination is easier to address legally—demand side or institu

Which type of discrimination is easier to address legally—demand side or institutional? Explain your answer. a.Institutional because it is relatively easy to use legal action to f…

Which type of state is most likely to follow an international treaty protecting

Which type of state is most likely to follow an international treaty protecting human rights? Select one A strong autocracy A weak autocracy. An anocracy. . A weak democracy A str…

Which value is typically larger, accounting profits or economic profits? When ar

Which value is typically larger, accounting profits or economic profits? When are accounting profits equal to economic profits? Please refer to the Cadbury income statement in Tab…