Economics

4. The circular flow model The following diagram presents a circular flow model

4. The circular flow model The following diagram presents a circular flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the in…

4. The convergence hypothesis helps explainwhy ______. (Points: 1) highly educat

4. The convergence hypothesis helps explainwhy ______. (Points: 1)       highly educated people converge in high-incomecountries        high-income individualsmarry other high-inc…

4. The data below is for a firm in a perfectly competitive market. Complete the

4. The data below is for a firm in a perfectly competitive market. Complete the following table by calculating Average Cost (AC) and Marginal Cost (MC) for the various levels of o…

4. The demand curve The following calculator shows the demand curve for sedans (

4. The demand curve The following calculator shows the demand curve for sedans (for example, Toyota Camrys or Honda Accords) in New York City. For simplicity, assume that all seda…

4. The demand curve shown below has four points depicting possible total market

4. The demand curve shown below has four points depicting possible total market oligopoly outcomes of quantity and price. For the given demand and price coordinates labeled A-D, p…

4. The figure below depicts the macroeconomic situation of stagflation inflicted

4. The figure below depicts the macroeconomic situation of stagflation inflicted by the negative supply shock. SRAS LRAS SRAS p? AD® As the economic advisor to PM Scott Morrison (…

4. The figure below is sometimes used to argue that the total government expendi

4. The figure below is sometimes used to argue that the total government expenditure multiplier should be higher than unity. In the figure the government spending increases from G…

4. The following are the demand and total cost schedules for the Normal Telephon

4. The following are the demand and total cost schedules for the Normal Telephone Company, a local monopoly. Output (# of calls) Price (dollars per call) Total Cost (dollars) 0 .1…

4. The following information describes an open economy. Given the following vari

4. The following information describes an open economy. Given the following variables in the open economy aggregate expenditure model, autonomous consumption (C0) = 970, autonomou…

4. The following is a cost function for clinic visits in a small inner city clin

4. The following is a cost function for clinic visits in a small inner city clinic: (Jacobs 142-143) a. Determine the marginal cost for each level of output. b. If the price per v…

4. The following regression equation examines the relationship between house pri

4. The following regression equation examines the relationship between house prices (in dollars) and the number of parks in a city houseprice 225, 000+4,500parks Interpret the coe…

4. The following table gives some figures from a forecast of real GDP (in 2005 d

4. The following table gives some figures from a forecast of real GDP (in 2005 dollars) and population done in mid-2010. According to the forecast, approximately how much real gro…

4. The growth rates of capital and output. Given the production function: Assume

4. The growth rates of capital and output. Given the production function: Assume that Nis constant and equal to 1. if z rates of z and x. x", then gPa g, where g, and g, are the g…

4. The inability of the government to stabilize the economy in the 1970s when re

4. The inability of the government to stabilize the economy in the 1970s when real GDP omic policy prescriptions. Which of the following is the main tenet of his has fallen, but i…

4. The issued BHT bonds have interest rates ranging from 2.75% to 5.25% over thi

4. The issued BHT bonds have interest rates ranging from 2.75% to 5.25% over this timeframe. In order to calculate the cost of debt, BHT decides to use the interest expense method…

4. The labor supply table below is for a firm of hiring labor competitively and

4. The labor supply table below is for a firm of hiring labor competitively and selling its product in a competitive market for $2 per unit.. Units of Labor 1 2 3 4 5 6 Total prod…

4. The long-run effect of Federal Reserve action (or inaction) in the AD-AS mode

4. The long-run effect of Federal Reserve action (or inaction) in the AD-AS model The following graph shows the short-run aggregate supply (SRAS) and aggregate demand (AD) curves …

4. The long-run effect of Federal Reserve action (or inaction)in the AD-AS model

4. The long-run effect of Federal Reserve action (or inaction)in the AD-AS model The following graph shows the short-run aggregate supply (SRAS) and aggregate demand (AD) curves f…

4. The monetary policy rule and the velocity of money Aa Aa The quantity equatio

4. The monetary policy rule and the velocity of money Aa Aa The quantity equation shows that the product of the money supply (M) and the velocity of money (V) is equal to the prod…

4. The multiplier effect of a change in government purchases Consider a hypothet

4. The multiplier effect of a change in government purchases Consider a hypothetical closed economy in which households spend $0.65 of each additional dollar they earn and save th…

4. The multiplier effect of a change in government purchases Consider a hypothet

4. The multiplier effect of a change in government purchases Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save th…

4. The negative income tax Aa B A negative income tax system provides low-income

4. The negative income tax Aa B A negative income tax system provides low-income families with a subsidy (a negative tax). Consider a negative income tax system in which families …

4. The own price elasticity ofNazmul\'s demand for bagels is --2.0, the income e

4. The own price elasticity ofNazmul's demand for bagels is --2.0, the income elasticity of demand for bagels is EB-0.5, the cross price elasticity of demand between donuts and ba…

4. The probability that a telephone call lasts no more than t minutes is often m

4. The probability that a telephone call lasts no more than t minutes is often modeled as an exponential cumulative distribution function F(t)={(1-e^(-t/3), t?0,@0 otherwise.)? a)…

4. The profit-maximizing price will a. equal $12.50 b. cannot be equal to $10 c.

4. The profit-maximizing price will a.   equal $12.50 b.   cannot be equal to $10 c.   equal $25 which is the highest price the monopolist can charge d.   both b and c e.   all of…

4. The public debt - Ownershlp The folowing table contains approximate figures f

4. The public debt - Ownershlp The folowing table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2001 and June 2…

4. The publisher of an online Economics Primer course is trying to sell the prim

4. The publisher of an online Economics Primer course is trying to sell the primer to a group of MBA students and a group of EMBA students in the US. The maximum willingness to pa…

4. The purchasing power of the dollar would fall by 20% if the price index rises

4. The purchasing power of the dollar would fall by 20% if the price index rises by: A. 44 percent B. 12.5 percent C. 25 percent D. 10 percent 5. Refer to the above table. Suppose…

4. The purpose of this problem is to study the sacrifice ratio. Suppose that ini

4. The purpose of this problem is to study the sacrifice ratio. Suppose that initially actual and natural real GDP both equal 11,000 and that the rate of inflation is 3.5 percent.…

4. The reserve ratio, open-market operations, and the money supply Aa Assume tha

4. The reserve ratio, open-market operations, and the money supply Aa Assume that banks do not hold excess reserves and that households do not hold currency-the only form of money…

4. The role of brand names and advertising Which of the following statements abo

4. The role of brand names and advertising Which of the following statements about expenditures on advertising is true? When a firm spends a small amount of money on advertising, …

4. The role of brand names and advertising Which of the following statements abo

4. The role of brand names and advertising Which of the following statements about expenditures on advertising is true? When a firm spends a large amount of money on advertising, …

4. The role of brand names and advertising Which of the following statements abo

4. The role of brand names and advertising Which of the following statements about expenditures on advertising is true? When a firm spends a large amount of money on advertising, …

4. The role of brand names and advertising Which of the following statements abo

4. The role of brand names and advertising Which of the following statements about expenditures on advertising is true? When a firm spends a small amount of money on advertising, …

4. The small city of Le Locle has been served by the same local newspaper for th

4. The small city of Le Locle has been served by the same local newspaper for the last 30 years called the Le Locle Tribune. The Tribune is written in a fairly conservative style …

4. The study of market failures comprises a large part of the microeconomic lite

4. The study of market failures comprises a large part of the microeconomic literature. To show that you understand the concept of market failure, match each of the right hand ter…

4. The term \"externalities\" refers to: a. Black-market activity b. Illegal eco

4. The term "externalities" refers to: a. Black-market activity b. Illegal economic activity. c. All costs and benefits of a market activity borne by a third party d. The impact o…

4. There are economies of scale in ranching, especially with re- gard to fencing

4. There are economies of scale in ranching, especially with re- gard to fencing land. Suppose that barbed-wire fencing cost S10,000 per mile to set up. How much would it cost to …

4. There are two consumers in a market, and two goods (X and Y). Consumer 1\'s d

4. There are two consumers in a market, and two goods (X and Y). Consumer 1's demand for good X is given by: C1 = 15 – 3P, – P, + .211. Consumer 2's demand for good X is given by:…

4. This problem shows the effect of changes in the required reserve ratio on req

4. This problem shows the effect of changes in the required reserve ratio on required and excess reserves Consolidated Balance Sheet of all Commercial Banks (in billions of dollar…

4. Tom is thinking of purchasing Pizza Hot Inc., a pizza restaurant in New Lynn.

4. Tom is thinking of purchasing Pizza Hot Inc., a pizza restaurant in New Lynn. After conducting a due diligence review of the company, Tom finds out that cash flows of the compa…

4. Total real production of goods and services in the US increased 10 times sinc

4. Total real production of goods and services in the US increased 10 times since what year? _______. 5. In 1930 the US population was 123 million; in 2016 it was 323 million. Usi…

4. Two companies, Firm 1 and Firm 2 sell the same product y. The market demand f

4. Two companies, Firm 1 and Firm 2 sell the same product y. The market demand for the good y is given by y 200 -2p. Denote by c the marginal cost of Firm 1 and c2 the marginal co…

4. Two companies, Firm 1 and Firm 2 sell the same product y. The market demand f

4. Two companies, Firm 1 and Firm 2 sell the same product y. The market demand for the good y is given by y = 200-2p. Denote by ci the marginal cost of Firm 1 and c2 the marginal …

4. Two gas stations are competing on one corner. Each firm is trying to pick a s

4. Two gas stations are competing on one corner. Each firm is trying to pick a strategy. The market conditions are such that they face the following payo Station 2 A 0 4 2 5 B 12 …

4. Two gas stations are competing on one corner. Each firm is trying to pick a s

4. Two gas stations are competing on one corner. Each firm is trying to pick a strategy. The market conditions are such that they face the following payo Station 2 A 0 4 2 5 B 12 …

4. U.S. Trucking pays its drivers S40,000 per year, while American Trucking pays

4. U.S. Trucking pays its drivers S40,000 per year, while American Trucking pays its drivers $38,000 per year For both firms, truck drivers average 240,000 miles per year. Truck d…

4. Understanding changes in equilibrium price and quantity Aa Aa Suppose you are

4. Understanding changes in equilibrium price and quantity Aa Aa Suppose you are an analyst in the oil refinery industry and are responsible for estimating the equilibrium price a…

4. Understanding different policy options to correct for negative externalities

4. Understanding different policy options to correct for negative externalities Carbon dioxide emissions have been linked to global warming. The following table lists some possble…

4. Understanding different policy options to correct for negative externalities

4. Understanding different policy options to correct for negative externalities Carbon dioxide emissions have been linked to global warming. The following table lists some possibl…