Economics

1. An acceptance will create a contract. At common law, the acceptance had to be

1. An acceptance will create a contract. At common law, the acceptance had to be identical (mirror image) to the offer. A response that was not identical would amount to a counter…

1. An accident causes harm of $1000 if it happens. However, here both the injure

1. An accident causes harm of $1000 if it happens. However, here both the injurer and the victim can takeprecaution which reduces the probability of an accident. Precaution costs …

1. An airline with monopoly power faces a demand with constant elasticity of -2.

1. An airline with monopoly power faces a demand with constant elasticity of -2.0. It has a constant marginal cost of $20 per unit and sets a price to maximize profit. If marginal…

1. An alternative energy researcher specializing in deriving oil from algae is c

1. An alternative energy researcher specializing in deriving oil from algae is constructing a building in Florida to take advantage of the higher levels of sunlight, temperatures,…

1. An article in Forbes (January 18, 2017) reported that: The United States (U.S

1. An article in Forbes (January 18, 2017) reported that: The United States (U.S.) is the fifth largest sugar producer and fifth largest consumer of sugar in the world. The U.S. s…

1. An article in the Economist noted that while economic growth in China was slo

1. An article in the Economist noted that while economic growth in China was slowing, “stocks have more than doubled in value ”The article stated that unlike in developed countrie…

1. An asset that can easily be exchanged for goods and services is referred to a

1. An asset that can easily be exchanged for goods and services is referred to as: a. an intangible asset. b. wealth. c. a liquid asset. d. a fixed asset. e. an immovable asset. 2…

1. An automatic saw at a local lumber mill cuts 2-by-4s to an average length of

1.      An automatic saw at a local lumber mill cuts 2-by-4s to an average length of 121 inches. Because the saw is a mechanical device, not all the boards are 121 inches long.  I…

1. An economist estimated that the cost function of a single-product firm is: TC

1. An economist estimated that the cost function of a single-product firm is: TC = Q2 — 5Q + 64 Based on this information, determine: i. The average cost (AC) function ii. The mar…

1. An economy described by the Solow growth model has the following production f

1. An economy described by the Solow growth model has the following production function: a. Solve for the steady state value of y as a function of s, n, g and ?. b. A developed co…

1. An economy has the following total transactions input-output matrix: Agricult

1.     An economy has the following total transactions input-output matrix:                   Agriculture        Manufacturing    Energy     Services Agric.              1.40     …

1. An employee has been constructively discharged from his employment when: a. h

1.      An employee has been constructively discharged from his employment when:                   a. he is given constructive criticism of his prior performance in his exit inter…

1. An employee has been constructively discharged from his employment when: a. h

1. An employee has been constructively discharged from his employment when: a. he is given constructive criticism of his prior performance in his exit interview. b. he is formally…

1. An equation explaining chief executive ocer salary is (standard errors in par

1. An equation explaining chief executive ocer salary is (standard errors in parenthe- ses): log(salary) = 4:59 (0:30) + 0:257 (0:032) log(sales) + 0:011 (0:004) roe + 0:158 (0:08…

1. An example of a social (as opposed to private) cost of smoking is _____ a) ta

1. An example of a social (as opposed to private) cost of smoking is _____ a) taxes on cigarettes, b) the price of cigarettes, c) second-hand smoke, d) positive externalities 2. P…

1. An example of direct foreign investment is given by: a. The sale of U.S. gove

1. An example of direct foreign investment is given by: a. The sale of U.S. government bonds to foreigners. b. The sale of U.S. stocks (equities) to foreigners. c. A multinational…

1. An expansionary fiscal policy might not be as successful as planned by the go

1.   An expansionary fiscal policy might not be as successful as planned by the government if, meanwhile 1 (a) imports increase (b) the stock market crashes and hence consumption …

1. An increase in immigration: raises labor demand in most markets. raises labor

1. An increase in immigration: raises labor demand in most markets. raises labor supply in the markets in which immigrants work. Both of the above are correct. None of the above i…

1. An increase in investment, combined with an increase in imports, would have w

1. An increase in investment, combined with an increase in imports, would have what effect on aggregate demand? A) AD would increase B) AD would decrease. C) AD would stay the sam…

1. An increase in per capita incomes is guaranteed by: Choose one answer. a. inc

1. An increase in per capita incomes is guaranteed by: Choose one answer. a. increasing income slower than the population. b. reducing population slower than income. c. increasing…

1. An increase in the U.S. exchange rate will make U.S. exports A. less attracti

1. An increase in the U.S. exchange rate will make U.S. exports A. less attractive to foreigners and imports from other countries more attractive to the United States B. less attr…

1. An increase in the amount of subsidies that a public university receives woul

1. An increase in the amount of subsidies that a public university receives would result in... Question 1 options: an upward movement along the supply curve for education a downwa…

1. An increase in the cost of material needed to produce cement blocks causes th

1.An increase in the cost of material needed to produce cement blocks causes the following change in the cement block market: A.Thedemandcurveforcementblocksshiftstotheright B.The…

1. An increase in the demand for guitars is represented by the movement from...

1. An increase in the demand for guitars is represented by the movement from... Question 1 options: point B to point C point B to point A D1 to D0 2. D1 to D2 A decrease in quanti…

1. An increase in the dollar price of the British pounds will: A. Increase the p

1. An increase in the dollar price of the British pounds will: A. Increase the pound price of dollars B.Decrease the pound price of dollars C. Leave the pound price of dollars unc…

1. An increase in the price of fuel increases the average cost of production of

1. An increase in the price of fuel increases the average cost of production of fabric produced by the Houchen Textile Company, a competitive firm. As a result of the increase in …

1. An increase in the saving rate will affect which of the following variables i

1. An increase in the saving rate will affect which of the following variables in the long run? output per worker capital per worker he level of investment all of the above 2. Whi…

1. An increase in the wage will have a relatively small effect on the quantity o

1. An increase in the wage will have a relatively small effect on the quantity of labor demanded when: A. the price elasticity of demand for the final product is relatively small …

1. An individual has a utility function defined over goods a and b that is given

1. An individual has a utility function defined over goods a and b that is given by U(a, b12a 2b (a) Compute the Marginal Rate of Substitution (MRS) between a and b evaluated at t…

1. An individuals demand curve: a. represents the various quantities that a cons

1. An individuals demand curve: a. represents the various quantities that a consumer is willing to purchase of a good at various price levels. b. is derived from an individual's i…

1. An insurance market consists of high-risk patients, who average $40,000 in sp

1. An insurance market consists of high-risk patients, who average $40,000 in spending per year, and low-risk patients, who average $1,000 per year. Overall, low-risk patients rep…

1. An investment opportunity has the potential of generating yearly revenues wit

1. An investment opportunity has the potential of generating yearly revenues with the associated probabilities for the next five years as shown below. The salvage value at the end…

1. An investor has E£50,000 (Egyptian pound). He deposits E£37,000 into a broker

1. An investor has E£50,000 (Egyptian pound). He deposits E£37,000 into a brokerage account. He buys 1,000 shares of the Commercial International Bank (CIB) for E£35 per share. On…

1. An isoquant that is convex to the origin has a diminishing marginal rate of t

1. An isoquant that is convex to the origin has a diminishing marginal rate of technical substitution. Find the marginal rate of technical substitution between K and L for the fol…

1. An offer is a proposal by an offeror that, if accepted, will create a contrac

1. An offer is a proposal by an offeror that, if accepted, will create a contract. Offers require that the offeror make a promise. The promise can be express or implied. The offer…

1. An omployee who is required to be paid overtime for hours worked greater than

1. An omployee who is required to be paid overtime for hours worked greater than 40 in a week is classification? b. exempt c. contract 2. Which of the following is NOT governed by…

1. An outlay of $180 is expected to yield the following cash flows: Year 1 2 3 4

1. An outlay of $180 is expected to yield the following cash flows: Year 1 2 3 4 Net Cash Flow $75 $55 $60 $25 Given the cost of capital is 12%, what is the payback period? a) 3.2…

1. Analysis of Pricing: You manage Mt. Claire Café which sells meals at a price

1. Analysis of Pricing: You manage Mt. Claire Café which sells meals at a price of $8.50 each. The meal includes a hot dish and a beverage of your choice. The average number of me…

1. Analyze the data in the Excel file. What is the relationship between the Pric

1. Analyze the data in the Excel file.  What is the relationship between the Price of a 2015 used car, and the quantity sold? a. Does the data describe a Supply curve, Demand curv…

1. Anny is deciding whether to bet on a volleyball match. A friend offers to giv

1. Anny is deciding whether to bet on a volleyball match. A friend offers to give her 64 dollars if the lower ranked team wins provided that she pays him 11 dollars when the highe…

1. Another popular sport on SASN is One-out, Two-base baseball. In this sport th

1. Another popular sport on SASN is One-out, Two-base baseball. In this sport there are, obviously, two bases: home and 2nd. The batter hits the ball and runs to 2nd. If he or she…

1. Answer 2. Answer 3. Answer 4. Answer 5. Answer 6. Answer 7. Answer 8. Answer

1. Answer                  2. Answer                  3. Answer                       4. Answer                  5. Answer                       6. Answer                  7. Answ…

1. Answer True or False for each of the following. GDP per capita is GDP divided

1.     Answer True or False for each of the following.                           GDP per capita is GDP divided by the population growth rate. Disposable personal income is what yo…

1. Answer the following based on the table below which is the cost of one firm i

1. Answer the following based on the table below which is the cost of one firm in a perfectly competitive market. Q FC VC TC MC AVC AFC ATC 0 NA NA NA NA 1 10 2 9 3 91 4 37 5 296 …

1. Answer the following based on the table below which is the cost of one firm i

1. Answer the following based on the table below which is the cost of one firm in a perfectly competitive market. Q FC VC TC MC AVC AFC ATC 0 NA NA NA NA 1 10 2 9 3 91 4 37 5 296 …

1. Answer the following in 150 words or less: Discuss the implications of employ

1. Answer the following in 150 words or less: Discuss the implications of employer discrimination against black workers for (a) the employment decisions of the firm, (b) for the p…

1. Answer the following questions about Keynesian vs. Classical view of economic

1. Answer the following questions about Keynesian vs. Classical view of economics A. Marginal propensity to consume (MPC) is the slope of the Keynesian AE curve. Using an equation…

1. Answer the following questions in essay format. 2. Your essay must include an

1. Answer the following questions in essay format. 2. Your essay must include an introduction, body, and conclusion, and address all relevant parts of each question. Your response…

1. Answer the following questions on the basis of the data contained in the foll

1. Answer the following questions on the basis of the data contained in the following table. Assume that the firm is hiring labor in a purely competitive market.   a) Fill out the…

1. Answer the questions below using the following information on a firm: Output

1.     Answer the questions below using the following information on a firm: Output (Quantity) Total Cost 0 $50 1 60 2 80 3 110 4 150 5 200 6 260 7 330 8 410 a.     What is averag…