Economics

30. (2 pts) Why would an ounce of gold be priced higher than an ounce of coffee

30. (2 pts) Why would an ounce of gold be priced higher than an ounce of coffee beans, even though coffee is generally considered more essential than gold? Explain the paradox in …

30. (new question): Fred, from class, is a competitive firm that produce snerd e

30. (new question): Fred, from class, is a competitive firm that produce snerd edibles. Consider her marginal product of labor curve (hours of labor (Lucas's time) on the horizont…

30. An increase in supply is shown graphically as a __________ shift of the supp

30.       An increase in supply is shown graphically as a __________ shift of the supply curve, and as a result of an increase in supply, equilibrium price will __________.       …

30. Assume a 10% reserve in cash for credit to her d ve requirement. If a custom

30. Assume a 10% reserve in cash for credit to her d ve requirement. If a customer came into the Bank and deposited $1,000 emand deposit account (a) Friedman National's assets wou…

30. Assume a 10% reserve requirement. If a customer came into the Bank and depos

30. Assume a 10% reserve requirement. If a customer came into the Bank and deposited S 1,000 in cash for credit to her demand deposit account (a) Friedman National's assets would …

30. Assuming the level of investment is S11 billion and independent of the level

30. Assuming the level of investment is S11 billion and independent of the level of total output, complete the following table and determine the equilibrium levels of output and e…

30. Both Monetarist and Keynesian economists argue that stabilization policies (

30. Both Monetarist and Keynesian economists argue that stabilization policies (policies designed to solve the two economic problems) are transmitted primarily through changes in(…

30. Demand is said to be inelastic if a. buyers respond substantially to changes

30. Demand is said to be inelastic if a. buyers respond substantially to changes in the price of thegood. b. demand shifts only slightly when the price of the goodchanges. c. the …

30. Economies of scale refer to: (Points : 2) the minimum point on the short-run

30. Economies of scale refer to: (Points : 2) the minimum point on the short-run average total cost curve. the flat portion of the long-run average total cost curve. a decrease in…

30. In a pure m arket econo m y, the govern m ent \' s pri m ary roles do not in

30. In a pure market economy, the government's primary roles do not include: A)                           protecting property rights. B)                           enforcing contra…

30. In the random walk hypothesis, the asset price follows a random walk, where

30. In the random walk hypothesis, the asset price follows a random walk, where the price movement in each period is completely uncorrelated with movements in prior periods. For p…

30. Refer to Exhibit 24-1. If the product is produced under single-price monopol

30.   Refer to Exhibit 24-1. If the product is produced under single-price monopoly, what quantity will be produced and what price will be charged in order to maximize profit? a. …

30. Structural unemployment occurs when: A) Workers do not have the skills requi

30. Structural unemployment occurs when: A) Workers do not have the skills required to fill the vacant positions in the job market. B) Firms fail in the normal course of business …

30. Suppose a farmer is a price taker in soybeans with cost functions given by T

30. Suppose a farmer is a price taker in soybeans with cost functions given by TC = .1q2 + 2q + 100 MC = .2q + 2 Suppose the farmer has to pay a 10% tax on revenue. The new profit…

30. The Budget of the United States Government is officially submitted by a. the

30. The Budget of the United States Government is officially submitted by a. the President to the Congress and contains proposals for government expenditures b. the Congress to th…

30. The frequency of govermment interventions in the foreign eschange markets (i

30. The frequency of govermment interventions in the foreign eschange markets (i.e. China) explains why the Because of this, system is often referred to as a managed-float sysiem …

30. The main point of Frederic Bastiat\'s satire is that: A. French candle maker

30. The main point of Frederic Bastiat's satire is that: A. French candle makers would benefit from government restrictions on trade B. French soybean farmers would benefit from a…

30. The market structure in which the behavior of any given firm depends on the

30. The market structure in which the behavior of any given firm depends on the behavior of the other firms in the industry is A. monopoly. B. perfect competition. C. oligopoly. D…

30. We subsidize public education because it ha:s b. Positive Its part of the co

30. We subsidize public education because it ha:s b. Positive Its part of the constitution a. Negative c. Externalities Externalities 31. High School Student performance a. b. c. …

30. When the economy is at its potential output level, which of the following is

30.   When the economy is at its potential output level, which of the following isnottrue? a. Firms' and workers' expectations about the price level are realized. b. The nominal w…

30. When the price of a product rises, theincrease in quantity supplied will gen

30.   When the price of a product rises, theincrease in quantity supplied will generally be greater in the longrun than the short run because A.   producers maximize short-run, no…

30. Which of the following statements is/are TRUE about a risk-based premium? CI

30. Which of the following statements is/are TRUE about a risk-based premium? CIRCLE ALL THAT APPLY (2 points) a. The amount a policyholder must pay for a policy based upon the in…

30. Which statement about the multiplier is correct? A. If a $20 billion increas

30. Which statement about the multiplier is correct? A. If a $20 billion increase in spending creates $20 billion of new income in the first round of the multiplier process and $1…

30. Woods argues that consumption is: a. the act of using things up. b. the domi

30. Woods argues that consumption is: a. the act of using things up. b. the dominant driving force in our economy. c. the key to economic growth and progress. d. the foundation of…

30.3 (1) This is an example of the game of \"Chicken.\" Two teenagers in soupedu

30.3 (1) This is an example of the game of "Chicken." Two teenagers in soupedup cars drive toward each other at great speed. The first one to swerve out of the road is "chicken." …

300 Refer to Table 12-1. To maximize its profit, how many w 42. b. 2 workers wil

300 Refer to Table 12-1. To maximize its profit, how many w 42. b. 2 workers will the firm hire Martha and Don are competitors in a local market and each i trying to decide if it …

307393 Mind I. Calculating inflation using a simple price index Consider a fotio

307393 Mind I. Calculating inflation using a simple price index Consider a fotional proe ndex, the College Student Pice Index (CSP, b sed on atmodetlege dudents amul purchases, a …

31 32 QUESTION 15 Rational ignorance occurs when: O a legislation generates larg

31 32 QUESTION 15 Rational ignorance occurs when: O a legislation generates large benefits for a few people but imposes costs on many people. o b the preferences of the median vot…

31) Compared to a perfectly competitive market, a single-price monopoly sets A)

31) Compared to a perfectly competitive market, a single-price monopoly sets A) a lower price. B) the same price. a higher price. D) a price that might be higher, Jower, or the sa…

31) Compared to a perfectly competitive market, a single-price monopoly sets A)

31) Compared to a perfectly competitive market, a single-price monopoly sets A) a lower price. B) the same price. a higher price. D) a price that might be higher, Jower, or the sa…

31) Please refer to the figure below depicting cost curves for Micro Oven Corpor

31) Please refer to the figure below depicting cost curves for Micro Oven Corporation to answer the following questions. Costs ($) TC 800 i TVC 500- 450 0 12 3 4 5 6 7 8 9 10 I 12…

31) Since the price of antibiotics does not include all the costs of using antib

31) Since the price of antibiotics does not include all the costs of using antibiotics, the price is too: A) low, and so antibiotics are underused B) high, and so antibiotics are …

31) The main difference between the cost structure of the monopoly firm and that

31) The main difference between the cost structure of the monopoly firm and that of a perfectly competitive firm is 31) A) the shut-down point B) marginal cost is downward sloping…

31) Under which one of the following contracts does an agent have the least ince

31) Under which one of the following contracts does an agent have the least incentive to behave 31) opportunistically? A) The agent pays a fixed fee to the principal for the right…

31) Under which one of the following contracts does an agent have the least ince

31) Under which one of the following contracts does an agent have the least incentive to behave 31) opportunistically? principal for the right to all future payoffi. A) The agent …

31) Which statement best illustrates the concept of diminishing marginal utility

31) Which statement best illustrates the concept of diminishing marginal utility? A) As one consumes more hamburgers per week, one would be willing to pay a higher price for addit…

31) With fixed costs of $400, a firm has average total costs of $3 and average v

31) With fixed costs of $400, a firm has average total costs of $3 and average variable costs of $2.50. Its output is: a) 200 units. b) 400 units. c) 800 units. d) 1,600 units. 32…

31, Suppose the US. one-year interest rate is 3% per year, while a foreign count

31, Suppose the US. one-year interest rate is 3% per year, while a foreign country has a one-year interest rate of 5% per year. Ignoring risk and transaction costs, a U.S. investo…

31- A rightward shift of a demand curve is called a(an): Question 31 options: a-

31- A rightward shift of a demand curve is called a(an): Question 31 options: a- increase in demand. b- decrease in demand. c- increase in quantity demanded. d- decrease in quanti…

31-33 It has seemed reasonable, from the standpoint of financial theory, that st

31-33 It has seemed reasonable, from the standpoint of financial theory, that stock prices are approrimately AR-1 process (First-Order Autoregressive Process specifies that the ou…

31-33] The following table is the details for the population for age 16 or older

31-33] The following table is the details for the population for age 16 or older. Refer to the table and answer the questions. Looking for job (having job) Cat Housewife Students …

31. (15 pts.) Use the following cost data to answer all six questions: three for

31. (15 pts.) Use the following cost data to answer all six questions: three for a purely competitive producer and three for a monopolist. (BE SURE TO SHOW YOUR WORK) Average Aver…

31. A defined-benefit pension plan: CIRCLE ALL THAT APPLY. (2 points) a. Puts th

31. A defined-benefit pension plan: CIRCLE ALL THAT APPLY. (2 points) a. Puts the burden on the employer to provide adequate funds to ensure that the agreed payments can be made t…

31. A nation\'s impoet import demand curve for a specific product is upsloping t

31. A nation's impoet import demand curve for a specific product is upsloping the amount of the peodact it will import at prices below itu above its export supply curve for the pe…

31. A perfect-price-discriminating monopoly\'s marginal revenue curve a. lies be

31. A perfect-price-discriminating monopoly's marginal revenue curve a. lies below the demand curve b. is the demand curve e. varies for each consuner d. is the same as the monopo…

31. A perfectly inelastic demand curve is: a. horizontal. b. downward sloping. c

31. A perfectly inelastic demand curve is: a. horizontal. b. downward sloping. c. upward sloping. d. vertical. 32. A trade-off involves weighing costs and benefits. a. true b. fal…

31. Assume you pay a tax of $4,000 on an income of $20,000. If your income were

31. Assume you pay a tax of $4,000 on an income of $20,000. If your income were $30,000 your tax would be $6,000. This suggests that the tax is (a) progressive (b) proportional (c…

31. Complete the following analogy: A criminal is to a police artist\'s sketch a

31.Complete the following analogy: A criminal is to a police artist's sketch as the economy is to: A) an economic model. B) a resource. C) ceteris paribus. D) money. E) scarcity. …

31. Critics of advertising argue that it: A) establishes brand loyalty, which pr

31. Critics of advertising argue that it: A) establishes brand loyalty, which promotes competition. B) results in more variety of products. C) lowers price by increasing competiti…

31. Economists and environmentalists agree that pollution is undesirable and tha

31. Economists and environmentalists agree that pollution is undesirable and that government policy should aim to achieve a zero-pollution society. True False 32. An externality i…