Economics

1. 2. Course Homex C O Not secure Exam 1 x openvellum ecollege.com/course.html?c

1. 2. Course Homex C O Not secure Exam 1 x openvellum ecollege.com/course.html?courseId=1 4444 19 &OpenVellumi.; 5 O Course Home EC 350 MyEconLab Spring 2018 Section 2 Homewor…

1. 2. Imagine that two cil companies, Big Petro Inc. and Gargantuan Gas, own adj

1. 2. Imagine that two cil companies, Big Petro Inc. and Gargantuan Gas, own adjacent oil fields. Under the fields is a common pool of oil worth $12 million. Drilling a well to re…

1. 2. Mabel and Sam both produce tomatoes and pasta sauce. The table shows their

1. 2. Mabel and Sam both produce tomatoes and pasta sauce. The table shows their possible production per month if both work the same number of 8 hour days. Given this information,…

1. 2. Romeo and Juliet do not have enough money to start their own book store so

1. 2. Romeo and Juliet do not have enough money to start their own book store so they borrow the money from someone else. Which of the following is true? their consumption expendi…

1. 2. Suppose pizzas cost $10 each. Jeb holds $50. What is the real value of the

1. 2. Suppose pizzas cost $10 each. Jeb holds $50. What is the real value of the money he holds? $50. If the price of pizza rises, to maintain the real value of his money holdings…

1. 2. Which of the following would give you the best indication of how the stand

1. 2. Which of the following would give you the best indication of how the standard of living of the average person in a country has changed over time? level of nominal GDP level …

1. 2. Which of the functions of money best explains why money is the most liquid

1. 2. Which of the functions of money best explains why money is the most liquid asset available? it is a medium of exchange. it is a store of value. it has intrinsic value. it is…

1. 2. You have recently learned about the concept of compound interest (also cal

1. 2. You have recently learned about the concept of compound interest (also called compound returns) in your economics class and it has motivated you to invest some of your money…

1. 20 points TFU and Explain: a. (5 points)A Cournot duopoly is socially more op

1. 20 points TFU and Explain: a. (5 points)A Cournot duopoly is socially more optimal than a cartel. b. (5 points) When preferences are in perfectly fixed proportions (perfect com…

1. 3 points] Consider an economy that produces and consumes bread and automobile

1. 3 points] Consider an economy that produces and consumes bread and automobiles. In the following table are data for two different years. Year ear 2015 GoodQuantity Price Quanti…

1. 3) Examine the followingstatements from both normative and positive economics

1.      3) Examine the followingstatements from both normative and positive economicstandpoints: a.       Pornography generates $14billion dollars in the United States annually. B…

1. 3. 4. 10 10 Cliff Figure 3-2 Refer to Figure 3-2. Assume that Cliff and Paul

1. 3. 4. 10 10 Cliff Figure 3-2 Refer to Figure 3-2. Assume that Cliff and Paul were both producing wheat and corn, and both were dividing their time equally between the two. Then…

1. 3. 4. The Canadian price level is 110, the Japanese price level is 94. 4, and

1. 3. 4. The Canadian price level is 110, the Japanese price level is 94. 4, and the real exchange rate is 104 Japanese real GDP per unit of Canadian real GDP. What is the nominal…

1. 5.00%/5.25%/5.50%/5.75%/6.00% 2. 5.00%/5.25%/5.50%/5.75%/6.00% 3. increase/de

1. 5.00%/5.25%/5.50%/5.75%/6.00% 2. 5.00%/5.25%/5.50%/5.75%/6.00% 3. increase/decrease 4. 0.8 trillion/0.9 trillion/1.0 trillion/1.1 trillion/1.2 trillion/1.3 trillion 6. Targetin…

1. A $1000 face value bond purchased for $965.00, with an annual coupon of $40,

1. A $1000 face value bond purchased for $965.00, with an annual coupon of $40, and 20 years to maturity has: A) A current yield equal to 4.00%. B) A current yield equal to 6.22%.…

1. A 2006 paper by Margeret Levenstein and Valerie Suslow (“What Determines Cart

1. A 2006 paper by Margeret Levenstein and Valerie Suslow (“What Determines Cartel Success?”) found that although cheating is a common cause of why cartels broke down, the followi…

1. A Broadway theater sells weekday show tickets at a lower price than for a wee

1. A Broadway theater sells weekday show tickets at a lower price than for a weekend show. This is an example of: price discrimination. peak-load pricing. price discrimination or …

1. A DVD store lowered the price of its DVDs from $20 to $10. Correspondingly, s

1. A DVD store lowered the price of its DVDs from $20 to $10. Correspondingly, sales increased from 1500 units to 2000 units per month Using total revenue calculations, we can say…

1. A French company, is ce alternatives for the p\' ich company, is considering

1. A French company, is ce alternatives for the p' ich company, is considering the following two equipment machines are consideration are in table below. s for the plant in Tennes…

1. A Giffen good is one in whih the ____ curve is ____ sloped. a) suppy; negativ

1. A Giffen good is one in whih the ____ curve is ____ sloped. a) suppy; negatively. b) demand, negatively. c) supply; positively. d) demand, positively. 2. When the price of a no…

1. A Gini coefficient of zero means that ________ . (Points : 1) the income is e

1. A Gini coefficient of zero means that ________ . (Points : 1) the income is equally distributed one person has all the income and everyone else has nothing all the income is re…

1. A Restrictive monetary policy by the Fed should lead to: A. A decrease in inv

1. A Restrictive monetary policy by the Fed should lead to: A. A decrease in investment and an increase in aggregate demand. B. Leave investment unchanged but decrease aggregate d…

1. A Swiss watch company advertises its history of superior craftsmanship. The c

1. A Swiss watch company advertises its history of superior craftsmanship. The company thinks that this will a. Make the demand for the product more elastic b. Make the customers …

1. A ____ has been appointed to investigate the pending merger of your company a

1. A ____ has been appointed to investigate the pending merger of your company and the Tandy Corporation a) ad hoc committee b) task force c) standing force d) standing committee …

1. A bank can safely reduce its amount of reserves if: A. there is little chance

1. A bank can safely reduce its amount of reserves if: A. there is little chance that its depositors will make large withdrawals B. it is balanced by a large amount of loans C. th…

1. A bank gave John a $5000 loan that he has to repay in 5 years at an annual si

1. A bank gave John a $5000 loan that he has to repay in 5 years at an annual simple interest rate of 10%. How much interest does John pay for this loan and what is the total amou…

1. A bank\'s capital is: a. the value of all its assets, including loans. b. the

1. A bank's capital is: a. the value of all its assets, including loans. b. the value of all its assets, excluding loans. c. the value of its physical plant, including buildings, …

1. A banking panic like the one that occurred in 1930s is not likely to happen a

1. A banking panic like the one that occurred in 1930s is not likely to happen again because: A. depositors are no longer allowed to withdroaw their funds simultaneously B. the gl…

1. A basic feature of the Keynesian view was that overproduction and unemploymen

1. A basic feature of the Keynesian view was that overproduction and unemployment would cause prices and wage rates to increase. flexible wages and prices would eliminate unemploy…

1. A blood sugar monitor that only works with the brand\'s own test strips is an

1. A blood sugar monitor that only works with the brand's own test strips is an example of 2. A combo meal with a price of a sandwich, drink and chips less than the sum of the ind…

1. A business is projected to make $100,000 per year starting immediately and co

1. A business is projected to make $100,000 per year starting immediately and continuing for the next 3 years after that. How much is it worth now if i = 10%? A. $100,000 (PV/A,10…

1. A business is projected to make $100,000 per year starting immediately and co

1. A business is projected to make $100,000 per year starting immediately and continuing for the next 3 years after that. How much is it worth now if i = 10%? A. $100,000 (PV/A,10…

1. A campus organization provides a free lunch to all students. In this case A.

1. A campus organization provides a free lunch to all students. In this case A. the opportunity cost of eating the lunch is zero. B.the explicit cost of eating the lunch is zero. …

1. A catering company needs to serve to 100 people for with the lowest budget B.

1. A catering company needs to serve to 100 people for with the lowest budget B. They need to provide the food, F, as well as the cooking staff, S (can have partial units of F and…

1. A central issue that society must deal with regarding health care: a. Concern

1. A central issue that society must deal with regarding health care: a. Concerns that optimal mix of expenditures for the various categories of health care (prescription drugs, n…

1. A channel of distribution: A) is any series of firms or individuals who parti

1. A channel of distribution: A) is any series of firms or individuals who participate in the flow of goods and services from producer to consumer or final user. B) is only needed…

1. A checking account is A. A liability to a commercial bank B. An asset to a co

1. A checking account is A. A liability to a commercial bank B. An asset to a commerical bank C. A liability to the household or firm that has the account D. An asset for the Fede…

1. A clever economics student writes up a wonderful set of notes that can help e

1. A clever economics student writes up a wonderful set of notes that can help everyone studying economics to earn a higher grade. The student posts these notes on a website. Are …

1. A collector is considering whether to buy a painting. The painting has a list

1. A collector is considering whether to buy a painting. The painting has a list price of $5000, but it could be worth $10,000 if it is not a counterfeit. It will be worth nothing…

1. A collusive agreement between two firms is likely to break down when ________

1. A collusive agreement between two firms is likely to break down when ____________. A. the market has substantial long minus term valuethe market has substantial longterm value.…

1. A company has one item in its inventory that requires special storage. The co

1. A company has one item in its inventory that requires special storage. The company estimates the storage cost at $2.00 per unit per year. The demand for the item is 40,000 unit…

1. A company has yearly data for its sales volumes, advertising expenditure (Adv

1. A company has yearly data for its sales volumes, advertising expenditure (Advertising) and the number of sales people (People), for ten years. It thinks that the second two var…

1. A company is considering establishing a new machine to automate a packaging p

1. A company is considering establishing a new machine to automate a packaging process. The machine will save $50,000 in labor annually. The cost of the machine is $200,000 and wi…

1. A competitive firm operating in the short run is producing at the output leve

1. A competitive firm operating in the short run is producing at the output level at which ATC is at a minimum. If ATC = $8 and MR = $9, in order to maximize profits (or minimize …

1. A competitive firm operating in the short run is producing at the output leve

1. A competitive firm operating in the short run is producing at the output level at which ATC is at a minimum. If ATC = $8 and MR = $9, in order to maximize profits (or minimize …

1. A competitive, unregulated market would A. Produce too much pollution because

1. A competitive, unregulated market would A. Produce too much pollution because pollution is an external cost. B. Produce too little education because education has an external b…

1. A conclusion of the theory ofrational expectations is that, in the short run,

1. A conclusion of the theory ofrational expectations is that, in the short run, the impact ofdiscretionary fiscal policies designed to shift the ADcurve will: a. result in no net…

1. A consequence of the economic problem of scarcity is that: All of the above.

1. A consequence of the economic problem of scarcity is that: All of the above. 2. Which of the following is an assumption under which the production-possibilities curve is drawn?…

1. A construction company can purchase a used backhoe for $90,000 and spend $450

1. A construction company can purchase a used backhoe for $90,000 and spend $450iday in operating costs. The equipment will have a 5-year ife with no salvage value. Alternatively,…

1. A consultant has advised Consolidated Fish, Inc. that it should cut back its

1. A consultant has advised Consolidated Fish, Inc. that it should cut back its production in order to increase its profits. We can conclude from this that..2. To maximize profits…