Economics

8. Assume the economy is at full employment and the Fed restricts money supply.

8. Assume the economy is at full employment and the Fed restricts money supply. What will be the effects on output and prices? a. In the medium run output and prices will both dec…

8. Automatic, or built-in, stabilizers Which of the following are examples of au

8. Automatic, or built-in, stabilizers Which of the following are examples of automatic stabilizers? Check all that apply. As incomes rise, domestic investment rises as well. In 2…

8. Award: 5 out of 10.00 points You are considering a stock investment in one of

8. Award: 5 out of 10.00 points You are considering a stock investment in one of two firms (NoEquity, Inc. and NoDebt, Inc), both of which operate in the same industry and have id…

8. Banking panics and regulations Which of the following describe a common cause

8. Banking panics and regulations Which of the following describe a common cause of bank panics? Check all that apply. a.Bank executives are not trained in risk management. b.Rumo…

8. Banks and the fractional reserve system Aa Aa Which one of the following func

8. Banks and the fractional reserve system Aa Aa Which one of the following functions that goldsmiths performed is the most important in terms of modern-day fractional reserve ban…

8. Based on the production function parameter estimates reported in Table 7.4: a

8. Based on the production function parameter estimates reported in Table 7.4: a. Which industry (or industries) appears to exhibiting constant returns to scale? (Ignore the issue…

8. Based on the production function parameter estimates reported in Table 7.4: a

8. Based on the production function parameter estimates reported in Table 7.4: a. Which industry (or industries) appears to exhibiting constant returns to scale? (Ignore the issue…

8. Bretton Woods Aa Aa Suppose that after World War II, Canada and Great Britain

8. Bretton Woods Aa Aa Suppose that after World War II, Canada and Great Britain agree to peg their currencies to each other under the Bretton Woods system at an exchange rate of …

8. CTable: Balance of Payment) Refer to the table Balance of Payments. The count

8. CTable: Balance of Payment) Refer to the table Balance of Payments. The country's balance of payments on current account is: A) $355 billion. B)-$395 billion. C) $375 billion. …

8. Calculate gross domestic product (GDP), net domestic product (NDP), national

8. Calculate gross domestic product (GDP), net domestic product (NDP), national income (NID, personal income (PI), and disposable income (DI) from the following data: Exports Impo…

8. Capital goods are treated as _______ goods and, therefore, _______ GDP. A. fi

8. Capital goods are treated as _______ goods and, therefore, _______ GDP. A. final; included in B. final; excluded from C. intermediate; included in D. intermediate; excluded fro…

8. City government has collected the following data on annual sales tax collecti

8. City government has collected the following data on annual sales tax collections and new car registrations:                   Y: Annual Sales Tax Collections ($ millions) X: Ne…

8. Colin Kreevy, a student of economics, has only $20 of his monthly budget left

8. Colin Kreevy, a student of economics, has only $20 of his monthly budget left. He wants to spend this amount on movies and burgers and decides to apply the tools of consumer be…

8. Collusive outcome versus Nash equilibrium Consider a remote town in which two

8. Collusive outcome versus Nash equilibrium Consider a remote town in which two restaurants, All-You-Can-Eat Café and GoodGrub Diner, operate in a duopoly. Both restaurants disre…

8. Computing the national debt from government data Aa Aa Consider Eastern Kraka

8. Computing the national debt from government data Aa Aa Consider Eastern Krakatowa, a fictional nation with no budget deficit or surplus when the government declared its indepen…

8. Consider a firm with the following total variable costs (TVC). Q TVC Q TVC 0

8. Consider a firm with the following total variable costs (TVC). Q    TVC                                                       Q    TVC 0        0                               …

8. Consider a market basket consisting of three goods. Use the table to answer t

8. Consider a market basket consisting of three goods. Use the table to answer the following questions. Use as the base year. (round any decimals to 2 places) Price per unit in ye…

8. Consider an economy characterized by the following: C = $3.5 trillion I = $1.

8. Consider an economy characterized by the following: C = $3.5 trillion I = $1.8 trillion G = $2 trillion T = $2 trillion NX = -$1 trillion mpc = .75 d = 10 x=5 =1 r = .01 f =.01…

8. Controlling quantities Aa Aa The following graph shows the market for Marylan

8. Controlling quantities Aa Aa The following graph shows the market for Maryland crab. Suppose the state of Maryland limits the crab harvest to 500 million pounds per year in Mar…

8. Covered interest arbitrage involves both A) the purchase of a foreign asset a

8. Covered interest arbitrage involves both A) the purchase of a foreign asset and a forward contract in the market for foreign exchange B) the purchase of a domestic asset and a …

8. Critical analysis Q16 The accompanying graph shows the short-run demand and c

8. Critical analysis Q16 The accompanying graph shows the short-run demand and cost situation for a price searcher in a market with low barriers to entry 5 +ATC MR 30A 5) Quantity…

8. Demand-pull inflation is an increase in the general price level which results

8. Demand-pull inflation is an increase in the general price level which results from: (a) an upward shift of the aggregate supply curve (b) an increase in the price of a vital pr…

8. Diversification is an investment strategy to A) maximize the return in stock

8. Diversification is an investment strategy to A) maximize the return in stock investment B) minimize the risk in personal finance C) outperform the average stock market return. …

8. Division of labor Which of the following are examples of specialization? Chec

8. Division of labor Which of the following are examples of specialization? Check all that apply. Felix and Megan each spend half the day tutoring and half the day grading papers.…

8. Dumping goods is profitable whenever: the foreign market than marginal cost b

8. Dumping goods is profitable whenever: the foreign market than marginal cost but lower than the home price. price (including transportation costs) is higher reign firm eventuall…

8. Effect of a tax on buyers and sellers The following graph shows the daily mar

8. Effect of a tax on buyers and sellers The following graph shows the daily market for jeans when a tax on sellers is set at $0 per pair. Suppose the government institutes a tax …

8. Effects of a quota on domestic prices The following graph shows the domestic

8. Effects of a quota on domestic prices The following graph shows the domestic demand for and supply of barley in Canada. The horizontal green line shows the world price of $1 fo…

8. Equilibrium quantity must increase when demand a. increases and supply does n

8. Equilibrium quantity must increase when demand a. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply increa…

8. Fiat money A. has no intrinsic value. B. is backed by gold. C. is a medium of

8. Fiat money A. has no intrinsic value. B. is backed by gold. C. is a medium of exchange but not a unit of account. D.is any close substitute for currency such as checkable depos…

8. For a firm in a perfectly competitve industry a. the demand curve is unitary

8. For a firm in a perfectly competitve industry a. the demand curve is unitary elastic throughout b. more output can be sold only if the firm unliaterally lowers its product pric…

8. For each of the following possible events, indicate whether the global value

8. For each of the following possible events, indicate whether the global value of the U.S. dollar will A: rise or B: fall. ( a ) American cars become suddenly more popular abroad…

8. For what lifetime of cast- in-place concrete curbs in question #7 below (inst

8. For what lifetime of cast- in-place concrete curbs in question #7 below (instead of 50 years) will the two alternatives be equally attractive, if all other conditions remain th…

8. Gross domestic product constitutes the a total quantitative output in an econ

8. Gross domestic product constitutes the a total quantitative output in an economy b. current market value of all goods and services peoduced in a given year c. total spending in…

8. How have corporate profits been effected by the recession and the recovery? S

8. How have corporate profits been effected by the recession and the recovery? Select one: a. Corporate profits fell during the Great Recession and have continued to fall. b. Corp…

8. Human capital refers to people\'s knowledge gained primarily through experien

8. Human capital refers to people's knowledge gained primarily through experience, education, and on-the-job training. True False 11. Inflation is a one-time rise in the general p…

8. Identify following arguments about economic ing either anti-growth or pro-gro

8. Identify following arguments about economic ing either anti-growth or pro-growth. LO8.6 a. Growth means worker burnout and frantic schedules. Rising incomes allow people to buy…

8. If DeBeers has a monopoly in the diamond market, then DeBeers must be engagin

8. If DeBeers has a monopoly in the diamond market, then DeBeers must be engaging in perfect price discrimination if it is charging every customer the same price for a diamond. th…

8. If DeBeers has a monopoly in the diamond market, then: a. DeBeers must be en

8. If DeBeers has a monopoly in the diamond market, then: a. DeBeers must be en b. th eBeers must be engaging in perfect price discrimination if it is charging every customer the …

8. If a corporation compares its compensation and performance evaluation systems

8. If a corporation compares its compensation and performance evaluation systems to its best competitors, it has engaged in b. patent infringement e. corporate comparisons that ma…

8. If both aggregate output and the aggregateprice level increase ______. (Point

8. If both aggregate output and the aggregateprice level increase ______. (Points: 1)       real GDP will increase faster than nominalGDP        nominal GDP will increasefaster th…

8. If the aggregate supply curve slopes up before reaching potential real GDP, (

8. If the aggregate supply curve slopes up before reaching potential real GDP, (Points : 7) the effect of government spending on real GDP is enhanced the government must increase …

8. Imagine a Small open economy in the Classical theory. What happens to NX and

8. Imagine a Small open economy in the Classical theory. What happens to NX and real exchange rate if aggregate savings go down? a) NX goes into deficit and real exchange rate ris…

8. In a study published in 1980, B.B. Gibson estimated the following price and i

8. In a study published in 1980, B.B. Gibson estimated the following price and income elasticities of demand for six types of public goods. Income Elasticity .36 .67 .88 1.25 1.09…

8. Investment is A. the production of goods for immediate satisfaction. B. the p

8. Investment is A. the production of goods for immediate satisfaction. B. the purchasing of stocks and mutual funds. C. spending by consumers on items that account for large shar…

8. It is inconceivable and impossible for a central bank to pursue a negative-in

8. It is inconceivable and impossible for a central bank to pursue a negative-interest rate policy because interest rates simply cannot turn negative. True or False 15.The Fed's r…

8. Kaya Identity. Year 1960 2014 Pop. (mil.) 180 318 Y/P ($) 17,036 50,782 E/Y (

8. Kaya Identity. Year 1960 2014 Pop. (mil.) 180 318 Y/P ($) 17,036 50,782 E/Y (kg oil per $) 0.331 0.137 M/E(kg CO2 per kg oil) 2.836 2.371 For each component of the Kaya Identit…

8. Key facts about economic fluctuations Aa Aa The following graph approximates

8. Key facts about economic fluctuations Aa Aa The following graph approximates business cycles in the United States from January 1973 to January 1983. (Not This problem uses U.S.…

8. Kodak currently sells its camera at $90 and sells 200 cameras per month. A cl

8. Kodak currently sells its camera at $90 and sells 200 cameras per month. A close competitor, Olympic, has cut the price of a similar camera it makes from $100 to $80. Suppose t…

8. Labor demand will tend to be relatively wage elastic if- a) there are no good

8. Labor demand will tend to be relatively wage elastic if- a) there are no good substitute inputs available and the wage bill is a large proportion olf b) there are good substitu…

8. Labor productivity and GDP The following table shows data for a hypothetical

8. Labor productivity and GDP The following table shows data for a hypothetical economy in 2006 and 2007. Use the table to answer the questions that follow. The growth rate of the…