Economics

1.What is the price? 2. What is the Total Revenue? 3. What is the Average Fixed

1.What is the price? 2. What is the Total Revenue? 3. What is the Average Fixed Cost? 4. What is the Average Variable Cost? 5. What is the Total Cost? 6. What is the Total Profit …

1.What is the supply curve for a perfectly competitive firm in the short run? Th

1.What is the supply curve for a perfectly competitive firm in the short run? The supply curve for a firm in a perfectly competitive market in the short run is A, that firm's marg…

1.What kind of crisis was Latvia experiencing in 2008, a currency crisis, a bank

1.What kind of crisis was Latvia experiencing in 2008, a currency crisis, a banking crisis, or a debt crisis? 2.If the IMF had not stepped in with support, what do you think might…

1.What was the percentage increase in the Ontario general minimum wage between O

1.What was the percentage increase in the Ontario general minimum wage between October 1, 2016 and January 1, 2018? Round your answer to one decimal place. ________ % Please enter…

1.What would happen to the size of the cattle population if Americans decided to

1.What would happen to the size of the cattle population if Americans decided to eat substantially less beef? Explain the logic underlying your answer. 2.Does private ownership en…

1.When TR=100,TC=140,TVC=80 and TFC=60, a factory should shut down or continue o

1.When TR=100,TC=140,TVC=80 and TFC=60, a factory should shut down or continue operations? Why? 2.When TR=100,TC=190,TVC=130 and TFC=60, a factory should shut down or continue ope…

1.When a U.S. citizen buys goods from a foreign merchant, the goods are usually

1.When a U.S. citizen buys goods from a foreign merchant, the goods are usually paid for by having the U.S. citizen send a personal check or dollars directly to the exporter. True…

1.When demand is elastic, marginal revenue will be: a)positive. b)negative. c) z

1.When demand is elastic, marginal revenue will be: a)positive. b)negative. c) zero. d)There is not sufficient information to determine the marginal revenue. 2. If the cross-price…

1.When negative externalities are present, it means that: a.All of these stateme

1.When negative externalities are present, it means that: a.All of these statements are true. production and consumption is above the socially optimal level. b.society bears part …

1.When rival firms choose to take actions that represent a Nash equilibrium, a.

1.When rival firms choose to take actions that represent a Nash equilibrium, a.   the firms’ CEOs no doubt saw the movie “A Beautiful Mind” because Nash equilibrium is an outcome …

1.When the government places a production subsidy on a product in an efficient m

1.When the government places a production subsidy on a product in an efficient market a. without additional information, such as the elasticity of demand for this product, it is i…

1.When the inflation rate is 4% per year, how many inflated dollars will be requ

1.When the inflation rate is 4% per year, how many inflated dollars will be required 20 years from now to buy the same things that $10,000 buys now? 2.Find the present worth of a …

1.When the inflation rate is 4% per year, how many inflated dollars will be requ

1.When the inflation rate is 4% per year, how many inflated dollars will be required 20 years from now to buy the same things that $10,000 buys now? 2.Find the present worth of a …

1.When the minimum wage is raised in a competitive market, ceteris paribus : Sel

1.When the minimum wage is raised in a competitive market, ceteris paribus: Select one: a. All workers are better off. b. All workers are worse off. c. Some workers are better off…

1.When we look at two currencies, a floating exchange rate is best described as

1.When we look at two currencies, a floating exchange rate is best described as a. The number of dollars in circulation in both domestic and foreign markets b. The value of the cu…

1.Whether a tax is shifted forward or backward depends on the price elasticities

1.Whether a tax is shifted forward or backward depends on the price elasticities of demand and supply. True or False 2.The effect of a tax is the same thing as the incidence of th…

1.Whether practiced domestically or internationally, franchising tends to what e

1.Whether practiced domestically or internationally, franchising tends to what encounter a general risk or problem with? 2.There are different motives for foreign market entry. Ja…

1.Which is an example of discounting? A.Prejudice B.Depreciation C.Interest paym

1.Which is an example of discounting? A.Prejudice B.Depreciation C.Interest payments on bonds D.Future free cash flows 2.The interest rate on the U.S. 10-year Treasury measures: A…

1.Which of the following cost concepts is correctly defined? A. B. ATC = VC + FC

1.Which of the following cost concepts is correctly defined? A. B. ATC = VC + FC C. ATC = AVC + AFC D. TC = AVC + AFC 2. A cost that does not depend on the quantity of output prod…

1.Which of the following describe a product with an elastic demand? A computer t

1.Which of the following describe a product with an elastic demand? A computer tablet for surfing the internet B a pack of cigs to a chain smoker 2. What is the name of the method…

1.Which of the following does NOT contribute to long-term economic growth? A)An

1.Which of the following does NOT contribute to long-term economic growth? A)An increase the price level. B)Development of a new technologies that improve productivity C)An increa…

1.Which of the following does NOT describe oligopolies? A.The rivals react to bu

1.Which of the following does NOT describe oligopolies? A.The rivals react to business decisions made by other firms. B.The firms are price-takers. C.There are just a few firms. D…

1.Which of the following events is likely to lower interest rates in the economy

1.Which of the following events is likely to lower interest rates in the economy? Select one: a. The Fed raising the Required Reserve Ratio b. The Fed selling government bonds c. …

1.Which of the following indicates when Stage I ends and Stage II begins in the

1.Which of the following indicates when Stage I ends and Stage II begins in the short-run production? a. when AP = 0 b. when MP = 0 c. when MP starts to diminish d. when MP = AP 2…

1.Which of the following is NOT a way to express the formula for profit? 2. Dan

1.Which of the following is NOT a way to express the formula for profit? 2. Dan is the owner of a price-taking company that manufactures sporting goods. One particular facility Da…

1.Which of the following is NOT true about a perfectly competitive market? a.The

1.Which of the following is NOT true about a perfectly competitive market? a.There are many sellers b.There are many buyers c.Exit from the market is hard d.Entry into the market …

1.Which of the following is a characteristic of perfect competiton? a. Easy Entr

1.Which of the following is a characteristic of perfect competiton? a. Easy Entry and exit b. Differentiated products c. Few Firms d. None of the above 2. The demand curve for a p…

1.Which of the following is a rate that should theoretically serve as a floor fo

1.Which of the following is a rate that should theoretically serve as a floor for the Fed funds rate? The discount rate U.S. dollar Libor The rate of interest on excess reserves (…

1.Which of the following is a rate that should theoretically serve as a floor fo

1.Which of the following is a rate that should theoretically serve as a floor for the Fed funds rate? a.The discount rate b.U.S. dollar Libor c.The rate of interest on excess rese…

1.Which of the following is a tool that is most used by the Fed to control the q

1.Which of the following is a tool that is most used by the Fed to control the quantity of money? real interest rate government expenditure multiplier open market operations exces…

1.Which of the following is an example of a financial intermediary? a)Banks. b)

1.Which of the following is an example of a financial intermediary? a)Banks. b) The Federal Reserve. c) The U.S. Treasury. d) The department of finance. 2.The price paid for the u…

1.Which of the following is considered to be a part of Learning-About? a.Reading

1.Which of the following is considered to be a part of Learning-About? a.Reading technical articles b.Interacting with customers c.Attending conferences on a topic d.All of the ab…

1.Which of the following is the correct expression for the real exchange rate? M

1.Which of the following is the correct expression for the real exchange rate? Mexican pesos per dollar × (U.S. price level/Mexican price level) Mexican pesos per dollar/Mexican p…

1.Which of the following is the most non-rival? a. a local public park b. govern

1.Which of the following is the most non-rival? a. a local public park b. government provided school lunches c. services from the fire department d. the light from a lighthouse e.…

1.Which of the following is true about the European Parliament? A. It cannot pro

1.Which of the following is true about the European Parliament? A. It cannot propose amendments to legislations. B. It is directly elected by the populations of the member-states.…

1.Which of the following is true of oligopoly? A.It is characterized by substant

1.Which of the following is true of oligopoly? A.It is characterized by substantial diseconomies of scale. B.Firms change their prices less frequently than do perfect competitors.…

1.Which of the following is true of the requirements for ratification to be effe

1.Which of the following is true of the requirements for ratification to be effective? A.The principal can accept certain parts of the agents act and reject others. B. An individu…

1.Which of the following statements best represents economists\' beliefs about t

1.Which of the following statements best represents economists' beliefs about the bias in the CPI as a measure of the cost of living? a.Economists agree that the bias in the CPI i…

1.Which of the following statements is not true? a.growing employment in retaili

1.Which of the following statements is not true? a.growing employment in retailing and restaurants contributes to the wage decline of high school graduates b.the decline in union …

1.Which of the following statements is true? a.Macroeconomics focuses on specifi

1.Which of the following statements is true? a.Macroeconomics focuses on specific decision-making units of the economy; microeconomics examines the economy as a whole. b.Every top…

1.Which of the following subcomponents of GDP can be either positive or negative

1.Which of the following subcomponents of GDP can be either positive or negative? a. inventory investment b. exports c. government purchases d. All of the above are correct. 2. Th…

1.Which of the following would cause velocity to decrease? 2. If demand for loan

1.Which of the following would cause velocity to decrease? 2. If demand for loanable funds decreases, what will happen to real interest rates and the economic growth? Real Interes…

1.Which of the following would decrease aggregate demand? a) an improvement in c

1.Which of the following would decrease aggregate demand? a) an improvement in consumer confidence b) a decrease in the foreign exchange value of the dollar c) an increase in the …

1.Which of these would be true in the short run, but not the long run, for a fir

1.Which of these would be true in the short run, but not the long run, for a firm that has two variables: labor and three machines. A. Machines would be a fixed cost for unit of p…

1.Which one of the following statements is generally correct? a. Less developed

1.Which one of the following statements is generally correct? a. Less developed economies tend to have good institutions that promote growth b. Less developed economies tend to at…

1.Which one of these goods is likely to have the largest substitution effect? Se

1.Which one of these goods is likely to have the largest substitution effect? Select one: a. Diamonds b. Nike Shoes c. A toll road (a road drivers have to pay to use) d. Healthcar…

1.Which one of these is an effect that raising minimum wage is likely to create?

1.Which one of these is an effect that raising minimum wage is likely to create? Select one: a. Employment in the economy will increase as more workers join the labor force b. Fir…

1.Which one of these items is not a part of the U.S. infrastructure? Select one:

1.Which one of these items is not a part of the U.S. infrastructure? Select one: a. Highway 95 b. Grand Strand Hospital c. A Santee Cooper Power Plant d. Charleston Port e. Time W…

1.Which problem is not an issue in a universal public insurance? a. Moral hazard

1.Which problem is not an issue in a universal public insurance? a. Moral hazard b. Adverse selection c. Overutilization d. None of the above 2.Which medical specialty is sued the…

1.Which type of unemployment is most likely to fall as a result of government po

1.Which type of unemployment is most likely to fall as a result of government policies that stimulate aggregate demand? a.frictional unemployment b.structural unemployment c.natur…