Economics

1. (TCO 1) What is the economic meaning of the expression that \"There is no suc

1. (TCO 1) What is the economic meaning of the expression that "There is no such thing as a free lunch?" (Points : 3)       It refers to "free-riders," who do not pay for the cost…

1. (TCO 1) What organization was protested in Seattle in 1999? (Points : 5) Boei

1. (TCO 1) What organization was protested in Seattle in 1999? (Points : 5)        Boeing Corporation        Starbucks        World Trade Organization        APEC (Asia Pacific Ec…

1. (TCO 1) When a state government chooses to build more roads, the required res

1.  (TCO 1) When a state government chooses to build more roads, the required resources are no longer available for spending on public education.  This dilemma illustrates the con…

1. (TCO 3) In which market model would there be a unique product for which there

1. (TCO 3) In which market model would there be a unique product for which there are no close substitutes? (Points : 3)       Monopolistic competition       Pure competition      …

1. (TCO 4) Obeying the law is ________ ethical behavior (Points : 1) essentially

1. (TCO 4) Obeying the law is ________ ethical behavior (Points : 1) essentially the same as the first step toward the opposite of unlikely to lead to 2. (TCO 4)) A(n) ________-ba…

1. (TCO 5) An increase in expected future income will (Points : 4) increase aggr

1. (TCO 5) An increase in expected future income will (Points : 4)        increase aggregate demand and aggregate supply.        decrease aggregate demand and aggregate supply.   …

1. (TCO 5) If an investment objective is considered to be intermediate term, the

1. (TCO 5) If an investment objective is considered to be intermediate term, then this means the goal should be achieved in what time frame? (Points : 1)        Less than 2 years …

1. (TCO 6) Expansionary fiscal policy is so named because it (Points : 1) involv

1. (TCO 6) Expansionary fiscal policy is so named because it (Points : 1) involves an expansion of the nation's money supply. necessarily expands the size of government. is aimed …

1. (TCO 6) Expansionary fiscal policy is so named because it (Points : 1) involv

1. (TCO 6) Expansionary fiscal policy is so named because it (Points : 1) involves an expansion of the nation's money supply. necessarily expands the size of government. is aimed …

1. (TCO 7) If you write a check on a bank to purchase a used Honda Civic, you ar

1. (TCO 7) If you write a check on a bank to purchase a used Honda Civic, you are using money primarily as (Points : 1) a medium of exchange. a store of value. a unit of account. …

1. (Table: Two Rival Gas Stations) Look at the table Two Rival Gas Stations. Swi

1. (Table: Two Rival Gas Stations) Look at the table Two Rival Gas Stations. Swifty Gas and Speedy Gas are the only two gas stations in a small town. Each firm can set either a hi…

1. (The IS-LM-PC model): Assume the following relations characterize the goods m

1. (The IS-LM-PC model): Assume the following relations characterize the goods market: (i) CJ 100 + 0.5YD! (ii) 11-100 + 0.25Y !-200(r1+ x !) (iii) G ! = 100! = 20au, x != 0.1 or …

1. (a) Assume I won 100 million dollars in a lottery that pays installments of 2

1. (a) Assume I won 100 million dollars in a lottery that pays installments of 20 million dollars a year for five years or a lump sum of less than 100 million dollars. If I take t…

1. (a) Suppose you are selling a product for $10 per unit in a competitive indus

1. (a) Suppose you are selling a product for $10 per unit in a competitive industry; using the perfectly competitive model, showand explain what your profit will be if you sell 20…

1. (a) Suppose you spend all of your income on apples and oranges, which are bot

1. (a) Suppose you spend all of your income on apples and oranges, which are both normal goods and which are imperfect substitutes. If the price of apples increases, will you cons…

1. (a) With the aid of illustrations, show and explain why the perfectly competi

1. (a) With the aid of illustrations, show and explain why the perfectly competitive industry, unlike the monopolistic industry, is a model of productive and allocative efficienci…

1. (a) With the aid of illustrations, show and explain why the perfectly competi

1. (a) With the aid of illustrations, show and explain why the perfectly competitive industry, unlike the monopolistic industry, is a model of productive and allocative efficienci…

1. (an undesirable / a desirable) social side.... 2. (costs / benefits) on peopl

1. (an undesirable / a desirable) social side.... 2. (costs / benefits) on people..... 3. (benefits / costs) product. 4. (over produced / under produced) when we.... 5.(too high /…

1. (asymmetric infomation) Define asymmetric information. Distinquish between hi

1. (asymmetric infomation) Define asymmetric information. Distinquish between hidden characteristics and hidden actions. Which type of asymmetric information contributes to the pr…

1. (negative, positiveexternality 2. (impose a tax, grant a subsidy) 3. (greater

1. (negative, positiveexternality 2. (impose a tax, grant a subsidy) 3. (greater than, equal to, less than) the amount of 4. (spillover benefits, spillover costs) 5. {demand(prova…

1. (points) A purely competitive firm is considered a \"price taker,\" and a mon

1. (points) A purely competitive firm is considered a "price taker," and a monopsonist is considered a "price maker." Explain the above statement. What is there about the above st…

1. (rise/fall/reamin the same) 2. (rise/fall/reamin the same) 3. (exhange rate/i

1. (rise/fall/reamin the same) 2.  (rise/fall/reamin the same) 3.  (exhange rate/interest rate/wealth) 4. (rise/fall) 5.  (rise/fall/reamin the same) 6.  (rise/fall/reamin the sam…

1. (s Points: 2+2+1] The table below shows the total utility (TU) schedules f 1

1. (s Points: 2+2+1] The table below shows the total utility (TU) schedules f 1 per bottle). Answer the following Price of Dhs 2 per Piece) and Pepsi (Price of Dhs questions (a to…

1. ) The original price-quantity pairing is $10 and 52 units. after a decrease i

1. ) The original price-quantity pairing is $10 and 52 units. after a decrease in the number of sellers the new price-quanitity pairing is $12 and 42 units. given this data one sh…

1. ) in the short run, profitability of any firm in any structure could be posit

1. ) in the short run, profitability of any firm in any structure could be positive, negative, or break even True or false 2. ) The demand for a product is P= 200-Q. if the market…

1. *An amusement park, whose customer set is made up of two markets, adults and

1. *An amusement park, whose customer set is made up of two markets, adults and children, can be expressed in equation form as follows (where subscript A refers to the adult marke…

1. - which of the changes in demand listen has the largest effect on the supply

1. - which of the changes in demand listen has the largest effect on the supply and demand curve? 2. - in your opinion, who wins more in a perfect competition market? the customer…

1. -----is an important determinant of its standard of living in the long run. a

1. -----is an important determinant of its standard of living in the long run. a. A nation's net exports b. The deficit in a nation’s current account c. The productivity of a nati…

1. -0.5 points LarApCalc10 3.5.028. 05 Submissions Used My Notes Ask Your Consid

1. -0.5 points LarApCalc10 3.5.028. 05 Submissions Used My Notes Ask Your Consider the following Demand Function 400-3x Quantity Demanded Find the price elasticity of demand for t…

1. .XYZ Corp has just identified a project with an NPV of -$65,000 (negative). T

1. .XYZ Corp has just identified a project with an NPV of -$65,000 (negative).  The project will end after five years, but will have long term, unquantifiable returns for the comp…

1. 0.6 Donuts/1.67 Donuts/$6.00/$10.00 2. (increase/decrease/remain the same) an

1. 0.6 Donuts/1.67 Donuts/$6.00/$10.00 2. (increase/decrease/remain the same) and (increase/decrease/remain the same) 3. (does not affect/affects) and (affects/does not affect) 1.…

1. 1 ) Given a MARR of 17%, would you accept the following investments based on

1.       1 )Given a MARR of 17%, would you accept the following investments based on the information given? Investment Criteria Accept/Reject/Indifferent A PW(17%)= $89.13 B IRR =…

1. 1) A manufacturing company is considering replacing a broken metal cutting ma

1.       1)A manufacturing company is considering replacing a broken metal cutting machine.  Several options have been proposed: a.       Option 1: The broken machine can be sold …

1. 1) Why would you switch from double declining balance to straight line deprec

1.       1) Why would you switch from double declining balance to straight line depreciation? 2.       2) Can you depreciate assets below their salvage value?explain? 3.       3) …

1. 1. A company has determined that the relationship between the sales price for

1. 1. A company has determined that the relationship between the sales price for one of its products and the quantity sold per week is P - 650- 10D per unit, where D is the demand…

1. 1. If the Fed buys bonds in the secondary market that will cause a both the p

1. 1. If the Fed buys bonds in the secondary market that will cause a both the price level and real GDP to decline in the short run, but, in the long run, only the price level wil…

1. 1. Southwest Airlines is adding $100 million a year in new fees. Under new ru

1.      1.  Southwest Airlines is adding $100 million a year in new fees.  Under new rules customers only get a partial refund for missed flights, prices are being raised for a th…

1. 1. Use these data to answer the following questions. Not in the labor force:

1. 1. Use these data to answer the following questions. Not in the labor force: 125,000 Unemployed: 25,000 Employed: 100,000 The labor force participation rate is: A. 75% B. 60% C…

1. 1. What are beats? a. Specified areas of coverage for reporters, such as scho

1. 1. What are beats? a. Specified areas of coverage for reporters, such as schools, crime, sports and business b. Scoops, as in beating competitors to get the story first c. A ty…

1. 110 marks) Readmania produces books. The sales of Readmania last year (2017)

1. 110 marks) Readmania produces books. The sales of Readmania last year (2017) were $23million. To produce the books Readmania purchases the text from 6 authors-each author was p…

1. 2 firms are considering whether to operate in a new market. Call them 1 and 2

1. 2 firms are considering whether to operate in a new market. Call them 1 and 2 respectively a. Assume that they make the decision whether to enter or not at the same time. They …

1. 2. 1. The language of price controls Suppose that, in a competitive market wi

1. 2. 1. The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of hamburgers is $7 each. Complete the followin…

1. 2. 16. How prices allocate resources Suppose that there are three beachfront

1. 2. 16. How prices allocate resources Suppose that there are three beachfront parcels of land available for sale in Astoria and six people who would each like to purchase one pa…

1. 2. 2. Determining opportunity cost Juanita is deciding whether to buy a skirt

1. 2. 2. Determining opportunity cost Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more conv…

1. 2. 3. 4. 5. 6. 7. 8. a) Limited access to the health care system is a major c

1. 2. 3. 4. 5. 6. 7. 8. a) Limited access to the health care system is a major cause of rising health care costs. b) Rising health care costs are a major cause of limited access t…

1. 2. 3. 4. Define a competitive market equilibrium in the product market What i

1. 2. 3. 4. Define a competitive market equilibrium in the product market What is the definition of a Pareto efficient outcome? What does the first welfare theorem say about compe…

1. 2. 3. Economics is the study of how abundant resources are utilized efficient

1. 2. 3. Economics is the study of how abundant resources are utilized efficiently. T-A or F-B Consumers are sovereign in socialist societies. T-A or F-B If marginal social benefi…

1. 2. 3. From the list below, select the components or inputs associated with th

1. 2. 3. From the list below, select the components or inputs associated with the production function where GDP is the output. There is more than one possible answer. Countries' r…

1. 2. 3. What is the real GDP in year 1 in the Country of Vegetable, with year 1

1. 2. 3. What is the real GDP in year 1 in the Country of Vegetable, with year 1 as the base year? The following are the final goods and services produced In year 1 In the Country…

1. 2. A gardener sells $45 of flowers to an individual who takes them home to gi

1. 2. A gardener sells $45 of flowers to an individual who takes them home to give to his wife and $200 worth of flowers to a florist who will use them in bouquets for sale at his…