Economics

1. Firms generally face increasing marginal cost because of the diminishing marg

1. Firms generally face increasing marginal cost because of the diminishing marginal productivity of variable inputs. True or False 2. Either a rise in marginal cost or a drop in …

1. Firms should exit the market if: A) sunk costs are a significant portion of t

1. Firms should exit the market if: A) sunk costs are a significant portion of the total cost. B) producer surplus is just equivalent to recoverable costs. C) price falls below th…

1. Firms will enter the industry inder which of the following conditions? a. Pri

1. Firms will enter the industry inder which of the following conditions? a. Price is less than average variable cost. b. Price is greater than average c. Price is less than avera…

1. First Blank _____. ($2 /$7 /$5 /$0 /$6 /$8 /$1 /$3 /$4) 2. Second Blank ____.

1. First Blank _____. ($2 /$7 /$5 /$0 /$6 /$8 /$1 /$3 /$4) 2. Second Blank ____. ($2 /$7 /$5 /$0 /$6 /$8 /$1 /$3 /$4) 3. Third Blank ___.  ($2 /$7 /$5 /$0 /$6 /$8 /$1 /$3 /$4) x X…

1. First National Bank has the following: Cash Reserves of $100,000 Loans of Dep

1. First National Bank has the following: Cash Reserves of $100,000 Loans of Deposits of $500,000 Assume the Federal Reserve has a reserve requirement of 5%. $400,000 (a) Prepare …

1. First National bank has the following Cash Reserves of $100,000 Loans of $400

1. First National bank has the following Cash Reserves of $100,000 Loans of $400,000 Depoits of $500,000 Assume the Federal Reserve has a reserve requirment of 5% a) Prepare a T-a…

1. First tell me what your new business is. Do you provide a service, or a produ

1. First tell me what your new business is. Do you provide a service, or a product? Define this business you’ve spent so much time dreaming of starting. 2. Next develop a PEST Ana…

1. Fiscal policy attempts to affect the level of overall spending in the economy

1. Fiscal policy attempts to affect the level of overall spending in the economy by changes in: A) the interest rate. B) the money supply. C) banking regulations. D) taxes and spe…

1. Fiscal policy during a recession Aa Aa The following graph shows the model fo

1. Fiscal policy during a recession Aa Aa The following graph shows the model for a hypothetical economy. The economy is currently at equilibrium at point A, where the current agg…

1. Fiscal policy in the Keynesian cross model Consider an economy described by t

1. Fiscal policy in the Keynesian cross model Consider an economy described by the following behavioral equations: C = C0 +C1  (Y-T) I =bo +b1 Y T = t1 Y Government spending and i…

1. Fiscal policy involves changing taxes and government spending. is enacted by

1. Fiscal policy involves changing taxes and government spending. is enacted by the Federal Reserve. involves changing interest rates. involves changing the money supply. 2. The C…

1. Fiscal policy is a. the use of the money supply to influence the economy b. a

1. Fiscal policy is a. the use of the money supply to influence the economy b. actions taken by the Federal Reserve to influence the economy c. only used during times of recession…

1. Five alternative proposals have been made for the development of a commercial

1. Five alternative proposals have been made for the development of a commercial rental property The required land is available on option at a price of $100,000. The following est…

1. Fixed costs are those costs which are: a.) zero if the firm produces no outpu

1. Fixed costs are those costs which are: a.) zero if the firm produces no output in the short run b.) unchanging through time c.) independent of the rate of output d.) implicit t…

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars shifts to the right: 3. If the supply curve for dollars shifts to the right relativeto the British…

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars shifts to the right: 3. If the supply curve for dollars shifts to the right relativeto the British…

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars shifts to the right: 3. If the supply curve for dollars shifts to the right relativeto the British…

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars

1. Flexible exchange rate systems occur when: 2. If the demand curve for dollars shifts to the right: 3. If the supply curve for dollars shifts to the right relativeto the British…

1. Following are economic and health outcome data from a screening study (TABLE

1. Following are economic and health outcome data from a screening study (TABLE 1). (Points 5) Determine which screening strategy you would choose if you were prepared to pay $50,…

1. Following are tables showing the domestic supply and demand schedules and the

1.              Following are tables showing the domestic supply and demand schedules and the export supply and import demand schedules for two nations (A and B). NATION A Price Q…

1. Following the balance sheet for The First National Bank (4 points) The First

1. Following the balance sheet for The First National Bank   (4 points) The First National Bank Assets                                                                   Liabilitie…

1. Following the balance sheet for The First National Bank (4 points) The First

1. Following the balance sheet for The First National Bank (4 points) The First National Bank 1. Following the balance sheet for The First National Bank   (4 points) The First Nat…

1. Food Deserts According to Michelle Kaiser (S&K Reader, pp. 210-211): \"Yet di

1. Food Deserts According to Michelle Kaiser (S&K Reader, pp. 210-211): "Yet distorted development and, subsequently, food deserts exist when income disparities continue to wi…

1. For April 2015, the Bureau of Labor Statistics (BLS) estimates that the numbe

1. For April 2015, the Bureau of Labor Statistics (BLS) estimates that the number of employed workers in the US was 148,523,000. The total number of workers who were not employed …

1. For a closed economy, the IS curve describes short-run movements in an econom

       1. For a closed economy, the IS curve describes short-run movements in an economy via which of the following? a.   Interest rate Investment Output      b.   Interest rate I…

1. For a competitive firm hiring in a competitive labor market, the proft-maximi

1. For a competitive firm hiring in a competitive labor market, the proft-maximizing rule is to hire labor to the point where: a. b. c. d. the marginal cost of the last unit of la…

1. For a firm in the widget industry, X = 100L - L2; where X is the quantity of

1. For a firm in the widget industry, X = 100L - L2; where X is the quantity of widgets produced, and L is the number of labor hours hired. The demand for this firm's output is pe…

1. For a given aggregate demand curve, the specificed rate of spending growth is

1. For a given aggregate demand curve, the specificed rate of spending growth is the growth rate of money: (a)demand plus the growth in velocity, (b)supply minus the rate of growt…

1. For a manufacturing company, which of the following is an example of a period

1. For a manufacturing company, which of the following is an example of a period cost rather than a product cost? a.   Depreciation on factory equipment b.   Wages of salespersons…

1. For a number of years, the U.S. dollar was losing value relative to other cur

1. For a number of years, the U.S. dollar was losing value relative to other currencies around the world. A. Explain what sort of monetary policy would help to increase the value …

1. For a typical competitive firm, the price in the long run euqilibrium will te

1. For a typical competitive firm, the price in the long run euqilibrium will tend to: A. be greater than average cost B. be equal to average cost C. be less than average cost D. …

1. For an economy in equilibrium, the Keynesian model suggests thatthe plot of a

1. For an economy in equilibrium, the Keynesian model suggests thatthe plot of aggregate expenditure against RGDP: a. is a vertical line. b. has slope lesser than 1. c. has slope …

1. For each of the determinants of demands in equation 2.1, identify an example

1. For each of the determinants of demands in equation 2.1, identify an example illustrating the effect on the demand for hybrid gasoline-electric vehicles such as the Toyota Priu…

1. For each of the following absolute values of price elasticity of demand, indi

1. For each of the following absolute values of price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic.…

1. For each of the following changes (other things equal), choose the appropriat

1.       For each of the following changes (other things equal), choose the appropriate behavior in the value of the country's current account balance. i. Exports of goods and ser…

1. For each of the following identify in which part of the balance-of-payments a

1. For each of the following identify in which part of the balance-of-payments accounts it appears (current account, capital account or financial account) and whether it is a cred…

1. For each of the following pricing policies, state whether or not you think it

1. For each of the following pricing policies, state whether or not you think it is a profit-enhancing or profit-destroying, or neutral policy and explain your rationale. a. Givin…

1. For each of the following production functions, determine if the tech- nology

1. For each of the following production functions, determine if the tech- nology exhibits increasing, decreasing, or constant returns to scale. a. f(L;K) = L + K b. f(L;K) = pL + …

1. For each of the following purchases, say whether you would expect the degree

1. For each of the following purchases, say whether you would expect the degree of imperfect information to be relatively high or relatively low: a. Buying apples at a roadside st…

1. For each of the following situations, decide whether the bundle Lakshani is c

1. For each of the following situations, decide whether the bundle Lakshani is considering optimal or not. If it is not optimal, how could Lakshani improve her overall level of ut…

1. For each of the following two-variable relationships: i)the consumption funct

1. For each of the following two-variable relationships: i)the consumption function ii)the savings function iii)the investment demand function iv) the multiplier, indicate, a. the…

1. For each of the following, is it part of the demand for yen or supply of yen

1. For each of the following, is it part of the demand for yen or supply of yen in the foreign exchange market? a. A Japanese firm sells its US government securities to obtain fun…

1. For each of the scenarios below, explain the shift(s) in: o Demand o Supply o

1.     For each of the scenarios below, explain the shift(s) in: o   Demand o   Supply o   Federal Funds Rate (FFR) o   Money Supply (MS)    e.     The Fed reduces reserve require…

1. For each situation determine whether you think the law involved is federal, s

1. For each situation determine whether you think the law involved is federal, state, or both. a. A person is liable for slander if that person intentionally says that someone is …

1. For each stock in the stock market, the number of shares sold daily equals th

1. For each stock in the stock market, the number of shares sold daily equals the number of shares purchased. That is, the quantity of each firm's shares demanded equals the quant…

1. For each supply cunvehe determinants of labor supply listed below, tell which

1. For each supply cunvehe determinants of labor supply listed below, tell which direction the labor (3 points) rve will shift (LEFT or RIGHT): a. There is a large emigration from…

1. For monopolisticallycompetitive firms is it always likely in the long-run to

1. For monopolisticallycompetitive firms is it always likely in the long-run to have zero-economic profit? Monopolistically competitive firms in the long-run... A.may continue to …

1. For spring break, Melanie will either stay home or go to Daytona Beach. At ho

1. For spring break, Melanie will either stay home or go to Daytona Beach. At home, Melanie pays $20 for food and earns $100 a day at her job. At Daytona Beach, Melanie will stay …

1. For substitutes in consumption: an increase in the price of one will increase

1. For substitutes in consumption: an increase in the price of one will increase the quantity supplied of the other an increase in the price of one will decrease the demand for th…

1. For tax year 2017. Marty is 17 years old, in high school, and is claimed as a

1. For tax year 2017. Marty is 17 years old, in high school, and is claimed as a depended by his parents. He earned $950 in 2017 at a summer job; he has no other income. a. Will M…