Economics

5. A local restaurant initially estimated a large demand for dining in a space n

5. A local restaurant initially estimated a large demand for dining in a space near a floor-to-ceiling fish tank. The cost of the tank is $8 million. (Assume that such a tank has …

5. A member of Congress proposes a law to provide unemployment insurance. Resear

5. A member of Congress proposes a law to provide unemployment insurance. Research finds that when workers are uninsured, their average spell of unemployment per year per worker i…

5. A monopolistically competitive firm that is incurring a loss will shut down i

5. A monopolistically competitive firm that is incurring a loss will shut down if (Points : 1) marginal revenue is less than marginal cost. revenues are less than variable costs. …

5. A new vaccine offers protection against otitis media. Administering the vacci

5. A new vaccine offers protection against otitis media. Administering the vaccine to 10,000,000 children under age 5 would reduce otitis media cases from 14,000,000 to 11,000,000…

5. A one-tail hypothesis test is used when the alternative hypothesis is stated

5. A one-tail hypothesis test is used when the alternative hypothesis is stated asor> 6. A Type Il error occurs when we fail to reject the null hypothesis when it is not true 7…

5. A perfectly competitive firm\'s total cost (TC) schedule is given in the foll

5. A perfectly competitive firm's total cost (TC) schedule is given in the following Table. Use this information to answer the questions that follow. Units of output (Q)Total cost…

5. A perfectly competitive firm\'s total cost (TC) schedule is given in the foll

5. A perfectly competitive firm's total cost (TC) schedule is given in the following Table. Use this information to answer the questions that follow. Units of output (Q)Total cost…

5. A price index was 250 at this time last year, and it is now at 260. What was

5. A price index was 250 at this time last year, and it is now at 260. What was the rate of inflation over the last year? 3.8% 4.0% 5.0% 10.0% 6. When the rate of inflation is hig…

5. A software producer has fixed costs of $18,000 per month and her Total Variab

5. A software producer has fixed costs of $18,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below: Q           TVC          Price 1,000   $1…

5. A) B) C) D) Consumption is said to follow a random walk if: consumers have ra

5. A) B) C) D) Consumption is said to follow a random walk if: consumers have rational expectations. consumption is proportional to permanent income. changes in consumption are un…

5. Absolute advantage and comparative advantage Aa Aa suppose you have the follo

5. Absolute advantage and comparative advantage Aa Aa suppose you have the following information on the marginal product of labor in rice production and apparel production in Japa…

5. Absolute advantage and comparative advantage Aa Aa suppose you have the follo

5. Absolute advantage and comparative advantage Aa Aa suppose you have the following information on the marginal product of labor in rice production and apparel production in Japa…

5. Achieving lower pollution Suppose the government decides to raise the gasolin

5. Achieving lower pollution Suppose the government decides to raise the gasoline tax as a way to reduce air pollution and traffic congestion to their optimal levels. Which of the…

5. Adverse Selection, numerical example. In the Shire, every hobbit has an incom

5. Adverse Selection, numerical example. In the Shire, every hobbit has an income of 10 each year and a utility function represented by U(I) I-0.0512. Hobbits occasionally get sic…

5. Allocation of government expenditures Federal and local governments tax and s

5. Allocation of government expenditures Federal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in …

5. An Edmonton firm is deciding whether to build a factory to produce Mayor Don

5. An Edmonton firm is deciding whether to build a factory to produce Mayor Don Iveson action figures. It will then sell these figures in local retail outlets. The factory, if bui…

5. An event that shifts the short-run aggregate supply curve is a A. Vital Shock

5. An event that shifts the short-run aggregate supply curve is a A. Vital Shock B. Demand Shock C. Interest Shock D. Supply Shock 6. is the combination of infiation and falling a…

5. An increase in demand and a decrease in supply will A. Reduce price but may i

5. An increase in demand and a decrease in supply will A. Reduce price but may incrcase, decrcase, or leave quantity unchanged B. Questions 11-13 are based on the following inform…

5. Approximately how large is the federal debt per capita? (a) $1,000 (b) $4,000

5. Approximately how large is the federal debt per capita? (a) $1,000 (b) $4,000 (c) $10,000 (d) over $20,000. 6. State and local governments spend the most on (a) roads and highw…

5. Approximately how large is the federal debt per capita? (a) $1,000 (b) $4,000

5. Approximately how large is the federal debt per capita? (a) $1,000 (b) $4,000 (c) $10,000 (d) over $20,000. 6. State and local governments spend the most on (a) roads and highw…

5. As opposed to a closed economy, in an openeconomy _______. (Points: 1) the ex

5. As opposed to a closed economy, in an openeconomy _______. (Points: 1)       the exchange rate is determined by thegovernment        specialization inactivities with a comparat…

5. As the exclusive carrier on a local air route, a regional airline must determ

5. As the exclusive carrier on a local air route, a regional airline must determine the number of flights it will provide per week and the fare it will charge. The estimated cost …

5. As the exclusive carrier on a local air route, a regional airline must determ

5. As the exclusive carrier on a local air route, a regional airline must determine the number of flights it will provide per week and the fare it will charge. The estimated cost …

5. Assume Angelina paid $3,000 for her laptop computer. The probability of the c

5. Assume Angelina paid $3,000 for her laptop computer. The probability of the computer being stolen is 0.02 if she exercises care and 0.05 if she is not. Exercising care may incl…

5. Assume an increase in England’s economic growth. Holding everything else cons

5. Assume an increase in England’s economic growth. Holding everything else constant, we can expect: a. An increase in England’s current account surplus as the demand for exports …

5. At $7.25 per hour the 2016 inflation adjusted minimum wage was low. B) at an

5. At $7.25 per hour the 2016 inflation adjusted minimum wage was low. B) at an all-time high. C) near its historical average. D) statutorily constant. At $5.15 per hour the 2007 …

5. Average daily balance,average monthly balance

Suppose that you never carry cash. Your paycheck of $1,000 permonth is deposited directly into your checking account on the firstday of the month, and you spend your money at a co…

5. Balanced growth and convergence The economy of Amandier conforms to the Solow

5. Balanced growth and convergence The economy of Amandier conforms to the Solow model with population growth and technological progress, so it is on a balanced-growth path. What …

5. Ball Bearings, Inc. faces costs of production as follows: Total Fixed Costs $

5. Ball Bearings, Inc. faces costs of production as follows: Total Fixed Costs $100 100 100 100 100 100 100 Total Variable Costs $0 50 70 90 140 200 360 Quantity 0 2 4 Calculate t…

5. Ball Bearings, Inc. faces costs of production as follows: Total Variable Cost

5. Ball Bearings, Inc. faces costs of production as follows: Total Variable Costs $O 50 70 90 140 200 360 Total Fixed Costs Quantity 0 $100 100 100 100 100 100 100 2 5 b. The pric…

5. Bank runs and regulation Aa Aa Which of the following describe a common facto

5. Bank runs and regulation Aa Aa Which of the following describe a common factor behind the occurrence of bank runs? Check all that apply. Fear regarding a bank's solvency can be…

5. Based on the historical experience of US economic policy, it is observed that

5.         Based on the historical experience of US economic policy, it is observed that whenever Congress decides to increase the rate of government spending, gross private inves…

5. Because follows that: corsumers can often substitute cheaper goods for those

5. Because follows that: corsumers can often substitute cheaper goods for those that have increased in price, ceteris paribus, it B)the CPI overstates inflation. D. the GDP deflat…

5. Behavioral economics Indicate whether each of the following examples of behav

5. Behavioral economics Indicate whether each of the following examples of behavior is consistent with the utility-maximization framework of traditional economics or is better exp…

5. Below are the demand curves of three individuals for air quality in their nei

5.   Below are the demand curves of three individuals for air quality in their neighborhood. Air quality is measured in terms of mg/m3 of SO2 removed. (a)   If the marginal cost o…

5. Below is the three-year bond real interest rate from 2000-2015. Explain why t

5. Below is the three-year bond real interest rate from 2000-2015. Explain why the real interest rate is positive for most of the 2000s and what explains it being negative in 2008…

5. Best Buy offers a protection plan for new smartphones at $195. The absolutely

5. Best Buy offers a protection plan for new smartphones at $195. The absolutely most expensive iPhone you can buy right now is $849. Assume for a moment you are a very cautious b…

5. Bretton Woods Aa Aa Suppose that after World War II, the United States and Gr

5. Bretton Woods Aa Aa Suppose that after World War II, the United States and Great Britain agree to peg their currencies to each other under the Bretton Woods system at an exchan…

5. Calculate the current minimum wage working 40hrs/week 52weeks/yr. Don\'t worr

5. Calculate the current minimum wage working 40hrs/week 52weeks/yr. Don't worry about taxes or any deductions. Explain why you think this is or is not a suitable wage Do the same…

5. Calculating Aa Aa Jan, who has been working for a consulting firm, is thinkin

5. Calculating Aa Aa Jan, who has been working for a consulting firm, is thinking of starting his own consulting company. He has determined that, based on how much business he wou…

5. Calculating tax incidence Suppose that the U.S. govemment decides to charge b

5. Calculating tax incidence Suppose that the U.S. govemment decides to charge beer producers a tax. Before the tax, 35 billion cases of beer were sold every year at a price of $4…

5. Calculating tax incidence Suppose that the U.S. government decides to charge

5. Calculating tax incidence Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 25 million bottles of wine were sold every month at a price o…

5. Calculating tax incidence Suppose that the U.S. government decides to charge

5. Calculating tax incidence Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 25 billion bottles of wine were sold every year at a price of…

5. Canada goes to considerable lengths to protect its television program and mag

5. Canada goes to considerable lengths to protect its television program and magazine producers from U.S. competitors. The United States often seeks protection from food imports f…

5. Certainty Equivalent (10 points) Suppose Charles has a utility function defin

5. Certainty Equivalent (10 points) Suppose Charles has a utility function defined as: U(Y) = VY, where Y is income. Suppose that Eric offers Charles a risky investment opportunit…

5. Changes in incentives Due to the violent nature of the sport, professional Am

5. Changes in incentives Due to the violent nature of the sport, professional American football players are at risk of suffering concussions (or brain injuries) during the violent…

5. Changes in incentives e the large number of auto accidents in a small town re

5. Changes in incentives e the large number of auto accidents in a small town results in new legislation that requires all citizens of the town to install new anti-lock brakes on …

5. Changes in the foreign-exchange market The following questions focus on the e

5. Changes in the foreign-exchange market The following questions focus on the exchange rate between the Malaysian ringgit and the Mexican peso. Assume the exchange rate is flexib…

5. Changes in the supply of sedans The following calculator shows the supply cur

5. Changes in the supply of sedans The following calculator shows the supply curve for sedans in an imaginary market. For simplicity, assume that all sedans are identical and sell…

5. ChooChoo Paper Company makes various types of paper products. One of their pr

5. ChooChoo Paper Company makes various types of paper products. One of their products is a 30 mils thick paper. In order to ensure that the thickness of the paper meets the 30 mi…