Economics

1.If the federal deficit was $3 trillion, economic growth was 2%, and the unempl

1.If the federal deficit was $3 trillion, economic growth was 2%, and the unemployment rate was 10%, a functional finance economist would suggest increasing taxes in order to bala…

1.If the firm operates in the short run and goes out of business in the long run

1.If the firm operates in the short run and goes out of business in the long run, then the price A. must be between the shutdown point and the break-even point. B. above the break…

1.If the government regulates a natural monopolist to produce the allocatively e

1.If the government regulates a natural monopolist to produce the allocatively efficient level of output, it will require the monopolist to set a price that is    a.equal to its m…

1.If the income elasticity of demand for laptops is 3.5 you know that laptops ar

1.If the income elasticity of demand for laptops is 3.5 you know that laptops are a(n) a. substitute good b. inferior good c. luxury good d. complement good e. necessity good 2.Su…

1.If the monopolist\'s demand is given by P = 100 – Q, marginal revenue is given

1.If the monopolist's demand is given by P = 100 – Q, marginal revenue is given by: A) MR = 100 – 2Q. B) MR = 100 – Q. C) MR = 100Q. D) MR = 100Q – Q2. 3. ' A monopolist sells in …

1.If the price of capital declines, the consequent output effect would be: 2.Whi

1.If the price of capital declines, the consequent output effect would be: 2.Which of the following describes the equilibrium condition in a purely competitive labor market? 3.Sup…

1.If there is perfect Price discrimination then the monopolist will produce at a

1.If there is perfect Price discrimination then the monopolist will produce at a) P= MC and output will be socially efficient b) P = MR output will be socially efficient c) MR = M…

1.If you want to deflate the current price of something to eliminate the effect

1.If you want to deflate the current price of something to eliminate the effect of inflation, a. divide the number by the price index b.multiply the number by the price index c.mu…

1.Imagine that Cupertino is a town comprised of just one street that is 1 mile l

1.Imagine that Cupertino is a town comprised of just one street that is 1 mile long. There are 10,000 students (consumers) evenly spaced along the road. Suppose that Josh’s is the…

1.Imagine that virtual reality equipment eventually becomes so good that it can

1.Imagine that virtual reality equipment eventually becomes so good that it can simulate sound, smell, taste, and touch as well as sight when you are wearing it. Imagine, too, tha…

1.Imagine that virtual reality equipment eventually becomes so good that it can

1.Imagine that virtual reality equipment eventually becomes so good that it can simulate sound, smell, taste, and touch as well as sight when you are wearing it. Imagine, too, tha…

1.In 2015 the country of Westeros experienced a population growth rate of 3%, an

1.In 2015 the country of Westeros experienced a population growth rate of 3%, and an economic growth rate of 5%. How much did GDP per capita grow by in this time period? 2.Environ…

1.In M&A transactions, a Target’s Board of Directors is concern about their fidu

1.In M&A transactions, a Target’s Board of Directors is concern about their fiduciary responsibility to shareholders. They must be assured that shareholders are receiving the …

1.In a congressional debate about agricultural price supports, senators, members

1.In a congressional debate about agricultural price supports, senators, members of congress, and other experts made the following four statements. Which of these is a normative s…

1.In a perfectly competitive market, all of the following are true EXCEPT: buyer

1.In a perfectly competitive market, all of the following are true EXCEPT: buyers take prices as given. 2. In a perfectly competitive market: buyers are price setters. 3.Graphical…

1.In discussing the distribution of income among families, the term “lowest fift

1.In discussing the distribution of income among families, the term “lowest fifth” indicates a.the poorest five percent of families b.the poorest twenty percent of families c.the …

1.In economy as a whole: A. wages must equal profit. B. consumption must equal s

1.In economy as a whole: A.   wages must equal profit. B.   consumption must equal saving. C.   income must equal expenditure. D.   the number of buyers must equal the number of s…

1.In terms of perfectly competitive or monopolistic competition, determine wheth

1.In terms of perfectly competitive or monopolistic competition, determine whether one, both, or neither of the two markets possess the following feature: The firm maximizes profi…

1.In the IS-LM model, if there is a positive exogenous shock to investment, what

1.In the IS-LM model, if there is a positive exogenous shock to investment, what happens to income (Y) and the rate of interest (r) ? r rises, Y rises r rises, Y falls r falls, Y …

1.In the Keynesian model, suppose that the economy has the following values : C

1.In the Keynesian model, suppose that the economy has the following values : C = 100 + 0.75*(Y-T)        G = 300            I = 200             NX = 0                         T =…

1.In the balance of payments, capital transactions include all a.transactions in

1.In the balance of payments, capital transactions include all a.transactions in which money changes hands b.flows of capital investments between nations c.net deficit items d.net…

1.In the movie “Cast Away”, Tom Hanks plays aFedEx efficiency expert stranded on

1.In the movie “Cast Away”, Tom Hanks plays aFedEx efficiency expert stranded on a deserted island. While on theisland, he divides his time between catching fish, gatheringcoconut…

1.In the rational expectations view, Multiple Choice a.discretionary policy tend

1.In the rational expectations view, Multiple Choice a.discretionary policy tends to be countercyclical. b.wages are flexible downward but prices are inflexible downward. c.discre…

1.In theory, some people might lose in the short run from outsourcing, but in th

1.In theory, some people might lose in the short run from outsourcing, but in the long run, all should benefit. Which option demonstrates that this theory might NOT be true? A.Low…

1.Indicate [i.e. state either ‘yes’ or ‘no’] whether each of the following is co

1.Indicate [i.e. state either ‘yes’ or ‘no’] whether each of the following is considered by economists to be money in Canada. [a]   A cheque you write against deposits you have at…

1.Inflationary pressure is a growing problem for the economy. Therefore, the Fed

1.Inflationary pressure is a growing problem for the economy. Therefore, the Federal Reserve decides to pursue a policy to reduce the inflationary pressure. Which policy changes b…

1.International earnings elasticities in the U.S., Japan, and Norway are 0.6, 0.

1.International earnings elasticities in the U.S., Japan, and Norway are 0.6, 0.3, and 0.2 respectively. Which country has the highest and lowest rates of economic mobility? a)U.S…

1.It is estimated that the U.S. financial crisis of 2008 led to a loss of $7 tri

1.It is estimated that the U.S. financial crisis of 2008 led to a loss of $7 trillion in the real estate industry due to the decline in housing prices. The stock market decline br…

1.Jack earns $90,000 while Priscilla earns $130,000. A regressive social securit

1.Jack earns $90,000 while Priscilla earns $130,000. A regressive social security tax of 5%, paid only up to $90,000, would mean that A. Priscilla pays more tax dollars than Jack.…

1.Joe Jones, Inc. has a beta of .85. The risk-free rate is 5% and the expected r

1.Joe Jones, Inc. has a beta of .85. The risk-free rate is 5% and the expected rate of return on the market portfolio is 10%. a. Compute the required return for Joe Jones using th…

1.John has been in the habit of mowing Willa\'s lawn each week for $20. John\'s

1.John has been in the habit of mowing Willa's lawn each week for $20. John's opportunity cost is $15, and Willa would be willing to pay $25 to have her lawn mowed. What is the ma…

1.Kelly tells Jimmy she will pay him $1,000 if he builds a shed in her backyard.

1.Kelly tells Jimmy she will pay him $1,000 if he builds a shed in her backyard. Kelly is a(n)        offeree.        offeror.        promisee.        contractor. 2. When Jeff's c…

1.Kevin has lost his job in an automobile plant because of the use of robots for

1.Kevin has lost his job in an automobile plant because of the use of robots for welding on the assembly line. Kevin plans to go to technical school to learn how to repair microco…

1.Kyle goes out to a club with his friends instead of staying home to study for

1.Kyle goes out to a club with his friends instead of staying home to study for his Macroeconomics exam. What is Kyle's opportunity cost of going to the club? Select one: a. He do…

1.Leakages from the circular flow include: a. Household savings, government spen

1.Leakages from the circular flow include: a. Household savings, government spending, investment spending b. Government spending, exports, and investment spending c. Exports, impo…

1.Let’s examine the history of LSUS undergraduate enrollment vs. its tuition and

1.Let’s examine the history of LSUS undergraduate enrollment vs. its tuition and fees. Download the “A3Q1 LSUS enrollment data” Excel file (in CSV format if you don’t have Excel);…

1.Limiting the price of rentals to an artificially low level makes the quantity

1.Limiting the price of rentals to an artificially low level makes the quantity supplied less than the quantity demanded. What is the economic term for this? How is this related t…

1.List and discuss the five important labor market trends How do these trends ei

1.List and discuss the five important labor market trends How do these trends either support or qualify the proposition that increasing labor productivity leads to higher standard…

1.Long-term effects of the FED lowering interest rates: If the Fed wants to perm

1.Long-term effects of the FED lowering interest rates: If the Fed wants to permanently lower interest rates, then it should raise the rate of money growth if a.there is slow adju…

1.Look at the article “Are Wal-Mart Goods Normal?” to answer this question. Acco

1.Look at the article “Are Wal-Mart Goods Normal?” to answer this question. According to the author’s findings, how would we describe Wal-Mart goods? A) Wal-Mart goods are inferio…

1.Marginal revenue product is defined as the change in total revenue that result

1.Marginal revenue product is defined as the change in total revenue that results from the employment of an additional unit of a resource. A widget producer wishes to determine ho…

1.Money must be ________ which includes the fact that it should ________. (I thi

1.Money must be ________ which includes the fact that it should ________. (I think it's B?) A. in physical form; not be transferable using electronic means   B. generally accepted…

1.Name the unnamed curves in diagram #1 Diagram #1 b. Average Reane Preshet labe

1.Name the unnamed curves in diagram #1 Diagram #1 b. Average Reane Preshet labe 2. Using diagram #1 Deb n gabor MARKT (1) price oflabor or (w)= 20 (2) total employment in the LAB…

1.Natural Gas: Fracking technology is improved allowing easier access to natural

1.Natural Gas: Fracking technology is improved allowing easier access to natural gas reserves. A. "Change D, Increase P, Increase Q" B. "Change D, Decrease P, Decrease Q" C. "Chan…

1.Obtain the most recent annual report of a company of your choice by accessing

1.Obtain the most recent annual report of a company of your choice by accessing the company's website and discuss/answer the following questions. Instructions: (a) What is the nam…

1.One difference between sales and excise taxes is that: A .sales taxes are only

1.One difference between sales and excise taxes is that: A .sales taxes are only applied at the state level, while excise taxes are only applied at the federal level. B .excise ta…

1.One of the reasons why it is hard to get people to pay for online content is t

1.One of the reasons why it is hard to get people to pay for online content is that there are many free options available on the Internet. True or False 2.When the demand for tabl…

1.One reason firms in monopolistic competition can charge different prices is th

1.One reason firms in monopolistic competition can charge different prices is that their products are 1 identical 2 similar   3 differentiated 4 guaranteed 2.In the long run, econ…

1.Other things being equal, an increase in the labor force resulting from increa

1.Other things being equal, an increase in the labor force resulting from increased immigration tends to: a. decrease the demand for labor b. decrease wages c. increase wages d. h…

1.Other things being equal, the relationship between price and quantity supplied

1.Other things being equal, the relationship between price and quantity supplied is a. negative b. positive c. random d. nonexistent 2.what is true at prices above the equilibrium…