Economics

1) Suppose Nina is a monopolist who faces the following demand and cost schedule

1) Suppose Nina is a monopolist who faces the following demand and cost schedules.  How does the Price Nina charges compare to her MC? 2) Suppose Nina is a monopolist who faces th…

1) Suppose U.S. interest rates fall. This reduction in U.S. interest rates will

1) Suppose U.S. interest rates fall. This reduction in U.S. interest rates will cause which of the following to occur? an inflow of capital to the United States 2) If a country wa…

1) Suppose a public referendum is being held on whether or not to levy a tax on

1) Suppose a public referendum is being held on whether or not to levy a tax on cigarettes. Currently, the supply of cigarettes is given by Qs = -120 + 28P. You estimate the deman…

1) Suppose a recent and widely circulated medical article has reported new benef

1) Suppose a recent and widely circulated medical article has reported new benefits of cycling for exercise. Simultaneously, the price of the parts needed to make bikes falls. If …

1) Suppose a union successfully negotiates a wage rate for its members that is a

1) Suppose a union successfully negotiates a wage rate for its members that is above the competitive wage rate. Then, A) the union must find a way to make union workers more produ…

1) Suppose a wet and sunny year increases the nation\'s corncrop by 20%. How wil

1) Suppose a wet and sunny year increases the nation's corncrop by 20%. How will this affect the market for corn? a) increase in demand b) decrease in supply c) increase in supply…

1) Suppose households consume 80% of their disposable income. The government is

1) Suppose households consume 80% of their disposable income. The government is considering three actions to help increase GDP: increasing government spending, cutting taxes, or i…

1) Suppose in a simple closed economy, the marginal propensity to consume is 0.8

1) Suppose in a simple closed economy, the marginal propensity to consume is 0.80. The government has passed a balanced budget amendment. The economy goes into a recession, so the…

1) Suppose supply is given by: P = 10 + 2Q, and demand is given by: P = 120 - 3Q

1) Suppose supply is given by: P = 10 + 2Q, and demand is given by: P = 120 - 3Qd. A) Find equilibrium price and quantity. B) What are the demand and supply elasticities at equili…

1) Suppose that Andy has utility function U(X,Y) and is indifferent between the

1) Suppose that Andy has utility function U(X,Y) and is indifferent between the following bundles: (X=1,Y=10), (X=2,Y=6), (X=3,Y=3). The MRS of X for Y (i) at X=1 is equal to (ii)…

1) Suppose that Congress enacts a significant tax cut with the expectation that

1) Suppose that Congress enacts a significant tax cut with the expectation that this action will stimulate aggregate demand and push up real GDP in the short run. In fact, however…

1) Suppose that P=100-Q, MR=100-2Q, TC= 20+Q^2 , and MC=2Q. Solve for equilibriu

1) Suppose that P=100-Q, MR=100-2Q, TC= 20+Q^2 , and MC=2Q. Solve for equilibrium output, price, average cost, and profit. a) Q=33.3, P=66.7, ATC=34, Profit= 1079 b) Q=25, P=75, A…

1) Suppose that a monopolist has zero marginal cost and faces two consumers. The

1) Suppose that a monopolist has zero marginal cost and faces two consumers. The first is Antonio. Antonio has an inverse demand function given by the following schedule: p(1) = 5…

1) Suppose that a school district pays all high school teachers with the same ye

1) Suppose that a school district pays all high school teachers with the same years of experience the same salary, regardless of teaching field, and that this produces a surplus o…

1) Suppose that at a baseball game, you consumed 3 hot dogs (each priced at $5)

1) Suppose that at a baseball game, you consumed 3 hot dogs (each priced at $5) and 4 sodas (each priced at $3). The 3rd hot dog provided a marginal utility of 20, while the 4th s…

1) Suppose that at a baseball game, you consumed 3 hot dogs (each priced at $5)

1) Suppose that at a baseball game, you consumed 3 hot dogs (each priced at $5) and 4 sodas (each priced at $3). The 3rd hot dog provided a marginal utility of 20, while the 4th s…

1) Suppose that at the profit maximizing level of output for a monopolistically

1) Suppose that at the profit maximizing level of output for a monopolistically competitive firm, the price of a good is $10 and the average total cost is $8. Based on this inform…

1) Suppose that firm 1 and firm 2 sell Vietnamese fast food. Both of the firms h

1) Suppose that firm 1 and firm 2 sell Vietnamese fast food. Both of the firms have decided to locate stores in Denver. Each must decide whether to (a) open one store or (b) open …

1) Suppose that firm 1 and firm 2 sell Vietnamese fast food. Both of the firms h

1) Suppose that firm 1 and firm 2 sell Vietnamese fast food. Both of the firms have decided to locate stores in Denver. Each must decide whether to (a) open one store or (b) open …

1) Suppose that firm 1 and firm 2 sell Vietnamese fast food. Both of the firms h

1) Suppose that firm 1 and firm 2 sell Vietnamese fast food. Both of the firms have decided to locate stores in Denver. Each must decide whether to (a) open one store or (b) open …

1) Suppose that in a year an American worker can produce 60 shirts or 30 compute

1) Suppose that in a year an American worker can produce 60 shirts or 30 computers and a Chinese worker can produce 60 shirts or 12 computers. There are 1 million workers in each …

1) Suppose that ms. Spencer is presently spending all her budget purchasing 10 u

1)  Suppose that ms. Spencer is presently spending all her budget purchasing 10 units of A and 8 units of B at prices of $2 and $4 respectively. The marginal utility of the last u…

1) Suppose that the economy is currently in long-run equilibrium. Which of the f

1) Suppose that the economy is currently in long-run equilibrium. Which of the following would be likely to cause a short-run decrease in the unemployment rate relative to the nat…

1) Suppose that the electric power industry is made up of two firms, each with t

1) Suppose that the electric power industry is made up of two firms, each with two power-generating units. The table above shows the SO2 emissions for each firm and generator.   S…

1) Suppose that there are two industries, one of which uses a lot of innovations

1) Suppose that there are two industries, one of which uses a lot of innovations and entrepreneurial talent, while the other is labor intensive and not very innovative. Suppose th…

1) Suppose that you are hired as a consultant to a firm producing a therapeutic

1) Suppose that you are hired as a consultant to a firm producing a therapeutic drug protected by a patent that gives a firm a monopoly in two markets. The drug can be transported…

1) Suppose that you believe that a cubic relationship exists between the indepen

1) Suppose that you believe that a cubic relationship exists between the independent variable (of time) and the dependent variable Y. Which of the following would represent a vali…

1) Suppose that you make a series of annual deposits into a bank account that pa

1) Suppose that you make a series of annual deposits into a bank account that pays 10% interest. The initial deposit at the end of the first year is $1,200. The deposit amount dec…

1) Suppose the demand and supply curves for eggs in the United States are given

1) Suppose the demand and supply curves for eggs in the United States are given by the following equations: Qd = 100 - 20P Qs = 10 + 40P where Qd = millions of dozens of eggs Amer…

1) Suppose the demand and supply curves for eggs in the United States are given

1) Suppose the demand and supply curves for eggs in the United States are given by the following equations: Qd = 100 - 20P Qs = 10 + 40P where Qd = millions of dozens of eggs Amer…

1) Suppose the economy is experiencing inflation. Which of the following would b

1) Suppose the economy is experiencing inflation. Which of the following would be a corrective measure by the central monetary authority? conducting an open market sale of governm…

1) Suppose the economy is in a long run equillibrium. a. draw a diagram to illus

1) Suppose the economy is in a long run equillibrium. a. draw a diagram to illustrate the state of the economy. Be sure to show aggregate deman, short run aggregate supply, and lo…

1) Suppose the following equations represent a supply and demand model for bubbl

1) Suppose the following equations represent a supply and demand model for bubble tea Os = 100 + 30P-107. Qd- 200 20P+5W ds (equilibrium condition) Where Qs is quantity supplied, …

1) Suppose the government sets the maximum price for a normal doctor\'s visit at

1) Suppose the government sets the maximum price for a normal doctor's visit at $20, but the current market price is $40. As a result of this government action, doctors will see: …

1) Suppose the supply and demand equations are as follows: MC = P = 2.5 + 2.4 Q

1) Suppose the supply and demand equations are as follows: MC = P = 2.5 + 2.4 Q WTP = P = 8.5 - 2.3 Q If there is a tax of 3 on demand. By how much will the equilibrium price chan…

1) Suppose the supply equation is: Q = 11 + 1.30p What is the price elasticity o

1) Suppose the supply equation is: Q = 11 + 1.30p What is the price elasticity of supply if the market price is $44? 2) Suppose the demand equation is Q = 120- 0.75p. What is the …

1) Suppose there is an increase in demand (rightward shift in demand). Consider

1) Suppose there is an increase in demand (rightward shift in demand). Consider two graphs. In Graph [X], supply is relatively inelastic. In Graph [Y], supply is relatively elasti…

1) Suppose you had to build a “model” of the best way to maintain a new Honda Ci

1) Suppose you had to build a “model” of the best way to maintain a new Honda Civic. What three principal variables would you choose to keep the car in excellent running condition…

1) Table Il shows the balance sheet of UOUBC Bank: Table ll: Balance Sheet of UQ

1) Table Il shows the balance sheet of UOUBC Bank: Table ll: Balance Sheet of UQUBC Bank Assets Liabilities Loans Required reserves $4 million Excess reserves Bonds Suppose all ot…

1) Technology, R & D, and Efficiency. a) Thoroughly and completely explain Inven

1) Technology, R & D, and Efficiency. a) Thoroughly and completely explain Invention i) Distinguish between invention as a process and invention as a result.    (1) Should be …

1) Tell how they combine to insure that in the long run a firm in a perfectly co

1) Tell how they combine to insure that in the long run a firm in a perfectly compitive industry make zero profit and is a price taker. 2) suppose each frim in perfectly competiti…

1) The AD / AS model is useful in predicting the effects of various shocks and p

1) The AD/AS model is useful in predicting the effects of various shocks and policy changes on an economy. The model is based on goods and services being exchanged in well-functio…

1) The Bureau of Labor Statistics announced that in October 1996, of all adult A

1) The Bureau of Labor Statistics announced that in October 1996, of all adult Americans, 127,587,000 were employed, 7,221,000 were unemployed, and 66,645,000 were not in the labo…

1) The Coase theorem argues that the assignment of property rights will generate

1) The Coase theorem argues that the assignment of property rights will generate an efficient solution to the problem of a. any type of market failure that involves high transacti…

1) The Coase theorem argues that the assignment of property rights will generate

1) The Coase theorem argues that the assignment of property rights will generate an efficient solution to the problem of a. any type of market failure that involves high transacti…

1) The Director of UTHealth plans to implement a new MRI system in the Health Sc

1) The Director of UTHealth plans to implement a new MRI system in the Health Science Center at San Antonio. He is working with chief physicians to select the better of two altern…

1) The Dutch Disease refers to (a) The impact on non-tropical diseases on econom

1) The Dutch Disease refers to (a) The impact on non-tropical diseases on economic growth in Europe (b) High levels of unemployment (c) The impact of natural resource extraction o…

1) The Federal Reserve has developed powerful policy tools allowing them to effe

1) The Federal Reserve has developed powerful policy tools allowing them to effectively eliminate business cycles and achieve absolute price stability a True b) False 2) When the …

1) The Glass-Steagall Act was created after the Great Depression. Why was the Ac

1) The Glass-Steagall Act was created after the Great Depression. Why was the Act created? What was the reason for removing the Act in 1999? 2) Moral hazard is an example of asymm…

1) The Levitt report shows NHL revenues at 2.094 billion in 1998, throughout the

1) The Levitt report shows NHL revenues at 2.094 billion in 1998, throughout the lockout, the owners claimed that players were receiving 75% of the revenue. When the new CBA settl…