Economics

Attempts Average: /2 1. Individual Problems 19-1 In the late 1990s, car leasing

Attempts Average: /2 1. Individual Problems 19-1 In the late 1990s, car leasing was very popular in the United States. A customer would lease a car from the manufacturer for a set…

Attempts Average: 11 S. Problems and Applications Q Classity the following topic

Attempts Average: 11 S. Problems and Applications Q Classity the following topics as relating to microeconomics or macroeconomics Topic s Macroeconomics The effect of minimum-wage…

Attempts Average: ?, B. Baskc concepts A Aa During the wake of the financial cri

Attempts Average: ?, B. Baskc concepts A Aa During the wake of the financial crisis, Ben Bernanke, chairman of the Fedenal workihg capital" are the most Important factors as priva…

Attempts Average:/1 7. Determinants of short-run aggregate supply The following

Attempts Average:/1 7. Determinants of short-run aggregate supply The following graph shows an increase in short-run aggregate supply (AS) in a hypothetical economy where the curr…

Attempts Average:14 4 Monopoly outcome versus competition outcome Consider the d

Attempts Average:14 4 Monopoly outcome versus competition outcome Consider the daily market for hot dogs in a small city. Suppose that this market is in long- run competitive equi…

Attempts Average:4 Aa Aa 5. Reading a supply curve Suppose that the following gr

Attempts Average:4 Aa Aa 5. Reading a supply curve Suppose that the following graph shows the supply curve for aluminum. PRICE (Dollars per ton 6400 5600 800 000- 3200 400- 600 80…

Attempts Keep the Highest: /2 10. Using a payoff matrix to determine the equilib

Attempts Keep the Highest: /2 10. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms that sell Blu-ray players, Movietonia and Videctech. …

Attempts Keep the Highest: 3 5. A decision at the margin Lorenzo is a hard-worki

Attempts Keep the Highest: 3 5. A decision at the margin Lorenzo is a hard-working college freshman. One Thursday, he decides to work nonstop until he has answered 200 practice pr…

Attempts Keep the Highest: 3 7. Understanding the U.S. poverty line The followin

Attempts Keep the Highest: 3 7. Understanding the U.S. poverty line The following table shows the U.S. poverty thresholds for 2011 by size of family and number of related children…

Attempts Score: /1 13. Chapter se3sem05r, Section.12, Problem 065 Which of the f

Attempts Score: /1 13. Chapter se3sem05r, Section.12, Problem 065 Which of the following statements would be represented by a backward-bending labor supply curve? O a. The CEO of …

Attempts as Keep the Highest 05/3 Working through an open market operation Assum

Attempts as Keep the Highest 05/3 Working through an open market operation Assume that the following balance sheet portrays the state of the banking system. The banks currently ha…

Attempts to predict leadership effectiveness in different situations is called:

Attempts to predict leadership effectiveness in different situations is called: A Ratio reinforcement B Reinforcement interval C A content theory of leadership D A contingency lea…

Attempts2 verage 27/4 Structural unemployment s sometimes sed to resit froma mon

Attempts2 verage 27/4 Structural unemployment s sometimes sed to resit froma monotch between the rob skli that emplorers went and the Nb sklth-workers have. t To explore this idea…

Attempts2.5 Keep the Highest: 2.5/4 6. Costs in the short run versus the long ru

Attempts2.5 Keep the Highest: 2.5/4 6. Costs in the short run versus the long run Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

Attempts: 0 1 Average: 0.5/1 4. Sources of market power Aa Aa Consider the marke

Attempts: 0 1 Average: 0.5/1 4. Sources of market power Aa Aa Consider the market for radio stations. At the national level, the Federal Communications Commission (FCC) only licen…

Attempts: 0 Average: 0/1 4. Sources of market power Aa Aa Consider the market fo

Attempts: 0 Average: 0/1 4. Sources of market power Aa Aa Consider the market for public water. In this industry, low average costs are obtained only through large-scale productio…

Attempts: 0 Keep the Highest: 0/1 1. Accounting versus economic profit In a give

Attempts: 0 Keep the Highest: 0/1 1. Accounting versus economic profit In a given year, an advertising firm has the following costs: $550,000 in wages and salaries paid to employe…

Attempts: 0.8 0.8 Do No Harm: 0.8/1 4. Fractional reserve banking Which of the f

Attempts: 0.8 0.8 Do No Harm: 0.8/1 4. Fractional reserve banking Which of the following statements about financial institutions in the U.S. are correct? Check all that apply. Fin…

Attempts: 1-T-) Keep the Highest: /3 1. Calculating inflation using a simple pri

Attempts: 1-T-) Keep the Highest: /3 1. Calculating inflation using a simple price Index Consider a fictional price Index, the College Student Price Index (CSPD, based on a typica…

Attempts: 1. Characteristics of competitive markets The model of competitive mar

Attempts: 1. Characteristics of competitive markets The model of competitive markets relies on the following three core assumptions: Average: 14 Aa Aa * There must be many buyers …

Attempts: 1.8 1.2 Keep the Highest: 1.8/4 4. Redistributive philosophies and inc

Attempts: 1.8 1.2 Keep the Highest: 1.8/4 4. Redistributive philosophies and incentives Consider a society comprised of two people. Jacques earns an income of $100,000 per year an…

Attempts: 16. Problems and Applications Q6 Analyze the following two scenarios f

Attempts: 16. Problems and Applications Q6 Analyze the following two scenarios for firms in competitive markets. Suppose that TC = 100 + 150, where TC is total cost and Q is the q…

Attempts: 2 Do No Harm: 2/11 Aa Aa 2. Contractionary fiscal policy in the AD-AS

Attempts: 2 Do No Harm: 2/11 Aa Aa 2. Contractionary fiscal policy in the AD-AS model Suppose an economy is initially at point F in the graph below. At point F, the economy is at …

Attempts: 2 Keep the Highest: 2/3 4. A decision at the margin Megan is a hard-wo

Attempts: 2 Keep the Highest: 2/3 4. A decision at the margin Megan is a hard-working college freshman. One Tuesday, she decides to work nonstop until she has answered 150 practic…

Attempts: 2. Price controls in the Florida orange market The following graph sho

Attempts: 2. Price controls in the Florida orange market The following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes. Average: 14 Us…

Attempts: 2. Problems and Applications Q2 Suppose that the Live-Long-and-Prosper

Attempts: 2. Problems and Applications Q2 Suppose that the Live-Long-and-Prosper Health Insurance Company charges $5,000 annually for a family insurance policy. The company's pres…

Attempts: 2. Problems and Applications Q2 The New York Times (Nov. 30, 1993) rep

Attempts: 2. Problems and Applications Q2 The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into…

Attempts: 2. What triggers economic fluctuations Select the most likely outcome

Attempts: 2. What triggers economic fluctuations Select the most likely outcome for each of the following steps to show the expected result of the following scenario: Average: 14 …

Attempts: 5. The price of trade Suppose that Italy and Germany both produce beer

Attempts: 5. The price of trade Suppose that Italy and Germany both produce beer and cheese. Italy's opportunity cost of producing a pound of cheese is 5 barrels of beer while Kee…

Attempts: 6·Limitations of GDP Although GDP is a reasonably good measure of a na

Attempts: 6·Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Whi…

Attempts: 8. Problems and Applications Q8 Consider an economy with two labor mar

Attempts: 8. Problems and Applications Q8 Consider an economy with two labor markets: one for manufectunng workers and one for service workers. Which of the following will happen …

Attempts: 9. Application: Elasticity and hotel rooms The following graph input t

Attempts: 9. Application: Elasticity and hotel rooms The following graph input tool shows the daily demand for hotel rooms at the Peacock Hotel and Casino in Las Average: /3 Vegas…

Attempts: A firm produces in a perfectly competitive market and hires labor in a

Attempts: A firm produces in a perfectly competitive market and hires labor in a perfectly competitive laber market The firm hires four workers, the marginal product of the fourth…

Attempts: Average: /1 1. Conditions for price discrimination Aa Aa Price discrim

Attempts: Average: /1 1. Conditions for price discrimination Aa Aa Price discrimination is the practice of selling the same good at more than one price when the price differences …

Attempts: Average: /1 1. Imports, exports, and the trade balance The following t

Attempts: Average: /1 1. Imports, exports, and the trade balance The following table shows the approximate value of exports and imports for the United States from 1983 through 198…

Attempts: Average: /1 4. Sources of market power Aa Aa Consider the market for d

Attempts: Average: /1 4. Sources of market power Aa Aa Consider the market for diamonds. Throughout much of the twentieth century, many people viewed South Africa's De Beers group…

Attempts: Average: /2 3. Solving for dominant strategies and the Nash equilibriu

Attempts: Average: /2 3. Solving for dominant strategies and the Nash equilibrium Suppose Alex and Becky are playing a game in which both must simultaneously choose the action Lef…

Attempts: Average: /2 5. A change in supply versus a change in quantity supplied

Attempts: Average: /2 5. A change in supply versus a change in quantity supplied The following calculator shows the supply curve for sedans in an imaginary market. For simplicity,…

Attempts: Average: /2 5. The negative income tax Many economists believe that a

Attempts: Average: /2 5. The negative income tax Many economists believe that a more effective way to supplement the income of the poor is through a negative income tax. Under thi…

Attempts: Average: /2 6. Substitutability of inputs Aa Aa Below are the isoquant

Attempts: Average: /2 6. Substitutability of inputs Aa Aa Below are the isoquants for two different businesses, a taxi company and a grocery store. Each isoquant represents a set …

Attempts: Average: /2 government decides to charge cola producers a tax. Before

Attempts: Average: /2 government decides to charge cola producers a tax. Before the tax, 40 million cases of cola were sold every month at a price of la are sold every month; cons…

Attempts: Average: /3 3. Productivity and growth policies Consider a small islan

Attempts: Average: /3 3. Productivity and growth policies Consider a small island country whose only industry is printing. The following table shows information about the small ec…

Attempts: Average: /3 5. Interest, inflation, and purchasing power Suppose Debor

Attempts: Average: /3 5. Interest, inflation, and purchasing power Suppose Deborah is an avid reader and buys only mystery novels. Deborah deposits $3,000 in a bank account that p…

Attempts: Average: /3 6. The relationship between marginal product and marginal

Attempts: Average: /3 6. The relationship between marginal product and marginal cost Kevin's Big Burger is a small restaurant that sells hamburgers. For Kevin, grills are a fixed …

Attempts: Average: /3 7. Relationship between returns to scale, isoquants, produ

Attempts: Average: /3 7. Relationship between returns to scale, isoquants, production frontiers, and cost Aa Aa curves The following graph shows two isoquants that represent the f…

Attempts: Average: /5 2. The consumption function and its components ct to earn

Attempts: Average: /5 2. The consumption function and its components ct to earn an annual income of $8,000 under normal circumstances and $10,000 in the event that Caroline can ex…

Attempts: Average: 1 1. Sources of monopoly power Aa Aa A monopoly, unlike a per

Attempts: Average: 1 1. Sources of monopoly power Aa Aa A monopoly, unlike a perfectly competitive firm, assumes some market power. It can raise its price, within limits, without …

Attempts: Average: 1 AaAa 4. Institutions matter Suppose it is the year 2525, an

Attempts: Average: 1 AaAa 4. Institutions matter Suppose it is the year 2525, and you are considering emigrating from your home country. The fictional country of Klaxon has the sa…

Attempts: Average: 1/2 8. Ag gree ment a mon Suppose that Paolo, an economist fr

Attempts: Average: 1/2 8. Ag gree ment a mon Suppose that Paolo, an economist from a research institute in Texas, and Sharon, an economist from a public television program, are ar…

Attempts: Average: 11 4. Dialogue: Thinking at the margin Consider the following

Attempts: Average: 11 4. Dialogue: Thinking at the margin Consider the following dialogue between Lorenzo, a student in an introductory economics class, and Lorenzo's teaching ass…