Economics

1) A manufacturer produces fasteners for the aircraft industry. For each order o

1) A manufacturer produces fasteners for the aircraft industry. For each order of fasters, it costs $3500 to set up the lathe and $1500 for the grinder and $1050 for the automatic…

1) A manufacturer purchased $4,000 worth of ingredients and produced 2000 units

1) A manufacturer purchased $4,000 worth of ingredients and produced 2000 units of output. All units were sold for $10 each to a local wholesale. The wholesale sold the items to c…

1) A market with a large number of sellers A) can only be a monopolistically com

1) A market with a large number of sellers A) can only be a monopolistically competitive market. B) might be a monopolistically competitive or a perfectly competitive market. C) c…

1) A monopolist firm faces a demand with constant elasticity of –2.0.–2.0. It ha

1) A monopolist firm faces a demand with constant elasticity of –2.0.–2.0. It has a constant marginal cost of $20 per unit and sets a price to maximize profit. If marginal cost sh…

1) A monopolist wishing to increase its profit has just discovered that lowering

1) A monopolist wishing to increase its profit has just discovered that lowering its price and selling more output yielded the desired result. Profit increased. Based on this, we …

1) A monopolistic competitior wishing to maximize profit will select profit will

1) A monopolistic competitior wishing to maximize profit will select profit will select a quantity where: a) marginal cost equals average cost b) marginal revenue equals marginal …

1) A natural gas distribution company is evaluating the economic desirability of

1) A natural gas distribution company is evaluating the economic desirability of replacing or repairing existing gas mains, it is estimated that 100,000 Mcf of gas being lost per …

1) A new machine tool costs $500,000, and has a useful life of 10 years. Its est

1) A new machine tool costs $500,000, and has a useful life of 10 years. Its estimated salvage value at the end of year 10 is $50,000. (a)    Determine the depreciation for years …

1) A patient visits a clinic. She incurs $10 in travel costs and has a copayment

1) A patient visits a clinic. She incurs $10 in travel costs and has a copayment of $20. The clinical's total charge is $60. The clinic spends $9 to bill the insurance company for…

1) A player involved in a one-shot game will: A) cooperate with its rivals due t

1) A player involved in a one-shot game will: A) cooperate with its rivals due to the threat of punishment. B) follow punitive strategies. C) take actions aimed at creating a repu…

1) A pollution tax will: Select one: a. always be paid entirely by producers. b.

1) A pollution tax will: Select one: a. always be paid entirely by producers. b. not change the price buyers pay for a good. c. be shared between buyers and sellers. 2) As compare…

1) A production function specifies the maximum output attainable from a given am

1) A production function specifies the maximum output attainable from a given amount of inputs. TRUE OR FALSE 2) The relation between output and variation in only one input is: re…

1) A production possibilities table for two products, shoes and handbags, is fou

1)       A production possibilities table for two products, shoes and handbags, is found below. Usual assumptions regarding production possibilities are implied. Combination a) Wh…

1) A random sample of 25 employees of a local company has been measured. A 95% c

1) A random sample of 25 employees of a local company has been measured. A 95% confidence interval estimate for the mean systolic blood pressure for all company employees is 123 t…

1) A recessionary gap can theoretically close on its own because. A) Aggregate s

1) A recessionary gap can theoretically close on its own because. A) Aggregate supply will gradually shift to the right as input prices decrease in the time of recession. B) Aggre…

1) A rise in the wages of workers in the beef industry will: Decrease the supply

1) A rise in the wages of workers in the beef industry will: Decrease the supply of beef, raising the equilibrium price and quantity of beef. Decrease the supply of beef, raising …

1) A rise in the wages of workers in the beef industry will: Decrease the supply

1) A rise in the wages of workers in the beef industry will: Decrease the supply of beef, raising the equilibrium price and quantity of beef. Decrease the supply of beef, raising …

1) A shift of the demand curve for loanable funds may occur due to changes in go

1) A shift of the demand curve for loanable funds may occur due to changes in government ___ while a shift of the supply curve of loanable funds may occur due to changes in privat…

1) A ski resort wishes to evaluate two alternative machines for ski and board tu

1) A ski resort wishes to evaluate two alternative machines for ski and board tuning. Select the best alternative using the AW method at 9% per year Machine R Machine S First cost…

1) A software producer has fixed costs of $20,000 per month and her Total Variab

1) A software producer has fixed costs of $20,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below: Q TVC Price 2,000 $5,000 $20 4,000 7,000 …

1) A student committee has 6 members -- 4 undergrad and 2 grad students. A subco

1) A student committee has 6 members -- 4 undergrad and 2 grad students. A subcommittee of 3 members is to be chosen randomly so that each possible combination of 3 of the 6 stude…

1) A sudden technological advance will generally result in (a) higher output and

1) A sudden technological advance will generally result in (a) higher output and lower investment (b) higher output and higher investment (c) higher output but no impact on invest…

1) A) All of the choices. B) Transferring money from savers to spenders C) Lendi

1) A) All of the choices. B) Transferring money from savers to spenders C) Lending funds held on deposit. D) Creating money. 2) A) $25 billion. B) $750 million. C) $50 billion. D)…

1) A) Excerpt from a SWOT analysis: The company faces threats of intense competi

1) A) Excerpt from a SWOT analysis: The company faces threats of intense competition and increasing commoditization in the mobile sector. Its mobiles face fierce competition acros…

1) According to new growth theory, A) physical capital is nonexcludable. B) know

1) According to new growth theory, A) physical capital is nonexcludable. B) knowledge capital is excludable. C) knowledge capital is subject to increasing returns. D) knowledge ca…

1) According to the shut-down rule, a firm should shut down in the short run whe

1) According to the shut-down rule, a firm should shut down in the short run whenever- at the output level where MR=MC-___ A) total variable cost excedds total revenue B) total co…

1) According to the text, the introduction of e-commerce is likely to do all of

1) According to the text, the introduction of e-commerce is likely to do all of the following except: a) decrease competition b) reduce overhead by creating virtual office space c…

1) Adrian and Fran operate their computer tech support company “Best Techs,” as

1) Adrian and Fran operate their computer tech support company “Best Techs,” as an S corporation, file the appropriate incorporation and registration paperwork with the Secretary …

1) Adults have more money than teenagers and perhaps more inelastic demand for v

1) Adults have more money than teenagers and perhaps more inelastic demand for video games than teenage video gamers. Why might it be difficult to price discriminate based on this…

1) All else being equal, the more imprtant an item is in buyers\' budgets, the m

1) All else being equal, the more imprtant an item is in buyers' budgets, the more elastic is demand for the good. (TRUE/FALSE) 2) If the demand curve for a good is a steep, strai…

1) All of the following statements about the US trade policy are correct except

1) All of the following statements about the US trade policy are correct except a) Protectionist interests are politically over-represented in the US b) NAFTA did not have much of…

1) Alt_A borrowers were those who a) used mortgages to purchase apartments. b) c

1) Alt_A borrowers were those who a) used mortgages to purchase apartments. b) chose adjustable-rate mortgages instead of fixed-rate mortgages. c) borrowed using "interest-only" m…

1) Although the unemployment rate is the single best indicator of how well the l

1) Although the unemployment rate is the single best indicator of how well the labor market is working, it is considered incomplete because it: I. does not measure how well people…

1) An American Company that sells consumer electronics products has manufacturin

1) An American Company that sells consumer electronics products has manufacturing facilities in Mexico, Taiwan, and Canada. The average hourly wage, output, and annual overhead co…

1) An American firm that buys foreign exchange because its managers expect the i

1) An American firm that buys foreign exchange because its managers expect the is dollar to depreciate A) speculating. B) increasing the supply of foreign exchange. C) decreasing …

1) An American is considering relocating their Oregon facility to Nicaragua. The

1) An American is considering relocating their Oregon facility to Nicaragua. The current exchange rate is 1 U.S. dollar (USD) to 25 Nicaragua Cordobas (NIO). The current wage rate…

1) An appreciation of the U.S. dollar ________ the price of U.S. imports, and __

1) An appreciation of the U.S. dollar ________ the price of U.S. imports, and ________ the price of U.S. exports. lowers, increases 2) The short-run aggregate supply (SRAS) curve …

1) An economic model: A) generalizes about economic behavior. B) is directed at

1) An economic model: A)         generalizes about economic behavior. B)         is directed at specific situations. C)         makes use of advanced physics. D)        is never u…

1) An economist who is studying the relationship between the money supply, inter

1) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in A.     microeconomic research B.     macroeconom…

1) An economist who is studying the relationship between the money supply, inter

1) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in A.     microeconomic research B.     macroeconom…

1) An example of \"Evergreening\" is only choosing organic drug ingredients prol

1) An example of "Evergreening" is only choosing organic drug ingredients prolonging patents by applying for a patent for a drug that contains a 95% change in the chemical structu…

1) An example of a negative externality is the: A. decrease in your real income

1) An example of a negative externality is the: A. decrease in your real income that results when photographic equipment you purchase increases in price because of increased deman…

1) An expansionary monetary policy action by the FED is which of the following?

1) An expansionary monetary policy action by the FED is which of the following? Select one: a. the sales of government bonds b. increasing the required reserve ratio c. increasing…

1) An externality is a) a cost or benefit resulting from some activity or transa

1)  An externality is             a)  a cost or benefit resulting from some activity or transaction that is imposed or bestowed on parties outside the activity or transaction     …

1) An increase in government spending \"crowds out\" private investment because

1) An increase in government spending "crowds out" private investment because Answer a) an increase in government spending causes output and prices to rise, which in turn causes i…

1) An increase in market price, given a fixed number of firms, causes market sup

1) An increase in market price, given a fixed number of firms, causes market supply to shift to the right. True False 2) In a perfectly competitive market, an increase in market d…

1) An increase in net exports leads to an increase in real GDP. Further, a) cons

1) An increase in net exports leads to an increase in real GDP. Further, a) consumption spending and saving increase b) consumption spending increases while investment spending de…

1) An individual commercial bank\'s potential loans are limited by its Select on

1) An individual commercial bank's potential loans are limited by its Select one: a. required dollar reserves b. checking deposits c. excess reserves d. discretion as to the appro…

1) An industrial union is a union composed of -workers in numerous occupations b

1) An industrial union is a union composed of -workers in numerous occupations but working in the same industry. -workers sharing a similar industrial job. -workers in manufacturi…

1) An industrial union is a union composed of -workers in numerous occupations b

1) An industrial union is a union composed of -workers in numerous occupations but working in the same industry. -workers sharing a similar industrial job. -workers in manufacturi…