Economics

1. Identify each of the following as a positive or negative; production or consu

1. Identify each of the following as a positive or negative; production or consumption externality. a. Christmas tree farms emit large quantities of oxygen that offsets the effect…

1. Identify each of the following topics as being part of microeconomics or macr

1. Identify each of the following topics as being part of microeconomics or macroeconomics: (2). the effect of a change in the price of Coke on the purchase of Pepsi (3). the impa…

1. Identify each of the followingresources as either labour (L), capital (K), la

1.      Identify each of the followingresources as either labour (L), capital (K), land (A), orentrepreneurial ability (E). (4 marks: 1/2 mark each) a.      an office computer – b…

1. Identify the correct statement. 2. Assume that for a given year, the nominal

1. Identify the correct statement. 2. Assume that for a given year, the nominal interest rate is 9 percent while inflation rises to 11 percent indicating a 4 percent higher rate t…

1. Identify the key environmental changes in the beer industry. Which have most

1. Identify the key environmental changes in the beer industry. Which have most aided the growth in the US craft beer market? 2a. How attractive is the US beer market? Use Porter’…

1. Identify the most important factor shifting the AS curve in the long term. Br

1. Identify the most important factor shifting the AS curve in the long term. Briefly explain both how and why this factor shifts the aggregate supply curve. 2. Briefly discuss wh…

1. Identify two products that have either fallen sharply in price or gotten sign

1. Identify two products that have either fallen sharply in price or gotten significantly better without price increases. Explain why. 2. If an oligopolist knows rivals will match…

1. Identify whether each of the following is a flow variable or a stock variable

1. Identify whether each of the following is a flow variable or a stock variable. The total value of all of a company's outstanding bonds The number of Canadian immigrants living …

1. Identify whether the following items are counted in M1 only, M2 only, both M1

1. Identify whether the following items are counted in M1 only, M2 only, both M1 and M2, or neither: A) A $1,000 balance in a checking account at a mutual savings bank B) A $100,0…

1. Identify whether the following items are counted in M1 only, M2 only, both M1

1. Identify whether the following items are counted in M1 only, M2 only, both M1 and M2, or neither: A) A $1,000 balance in a checking account at a mutual savings bank B) A $100,0…

1. Identify whether the following items are counted in M1 only, M2 only, both M1

1. Identify whether the following items are counted in M1 only, M2 only, both M1 and M2, or neither: A) A $1,000 balance in a checking account at a mutual savings bank B) A $100,0…

1. Identify which expenditure category each of the following will directly impac

1. Identify which expenditure category each of the following will directly impact, and also which direction the U.S. aggregate demand curve will shift as a result. a. Incomes incr…

1. Identify which of the following are extent decisions. a. Decide whether to ex

1. Identify which of the following are extent decisions.        a. Decide whether to expand an existing product into a new region.        b. What discount should be given on produ…

1. If $.80 U.S. = $1.00 Canadian, then: A.A U.S. nickel is worth four Canadian c

1. If $.80 U.S. = $1.00 Canadian, then:      A.A U.S. nickel is worth four Canadian cents. B.A U.S. quarter is worth 40 Canadian cents. C.40 Canadian cents are worth 50 U.S. cents…

1. If Argentina pegged its peso to the U.S. dollar and investors thought that th

1. If Argentina pegged its peso to the U.S. dollar and investors thought that the Peso was about to depreciate, what would Argentina's government have to do to keep its currency f…

1. If Caledonia, as an autarky, puts half of its resources in production of meat

1. If Caledonia, as an autarky, puts half of its resources in production of meat, and half in production of milk, how much meat and milk will the Caledonians consume? 1. If Caledo…

1. If David buys a movie from Target™, then his purchase is recorded between the

1. If David buys a movie from Target™, then his purchase is recorded between the 2. Production Possibilities for MP3 Players and Semi Trucks Using the table above, a combination o…

1. If Francis had an MRS of -3 between clothes and tea and Miguel has an MRS of

1. If Francis had an MRS of -3 between clothes and tea and Miguel has an MRS of -5 between clothes and tea (where the MRS is dT/dC = MUC/MUT), then (a) trade is not going to happe…

1. If Harry only pays $25,000 to purchase a new car even though he would have be

1. If Harry only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the car, this indicates that a. Harry is an irrational con…

1. If MPC = 0.75, a $40 billion decrease in governmentpurchases would have what

1. If MPC = 0.75, a $40 billion decrease in governmentpurchases would have what size effect on the "first round" ofinduced added consumption? a. $30 billion b. $40 billion c. $120…

1. If Malaysia wants to maintain a fixed exchange rate of two ringgit per euro,

1. If Malaysia wants to maintain a fixed exchange rate of two ringgit per euro, it should ____(sell/buy) euros in the foreign exchange market. To be successful, this policy would …

1. If Malaysia wants to maintain a fixed exchange rate of two ringgit per euro,

1. If Malaysia wants to maintain a fixed exchange rate of two ringgit per euro, it should ____(sell/buy) euros in the foreign exchange market. To be successful, this policy would …

1. If Malaysia wants to maintain a fixed exchange rate of two ringgit per euro,

1. If Malaysia wants to maintain a fixed exchange rate of two ringgit per euro, it should ____(sell/buy) euros in the foreign exchange market. To be successful, this policy would …

1. If Mexico wants to maintain a fixed exchange rate or one peso per euro, it sh

1. If Mexico wants to maintain a fixed exchange rate or one peso per euro, it should ____ (sell/buy) euros in the foreign exchange market. To be successful, this policy would have…

1. If O.P.E.C. increases its price of oil, and still the demand for oil decrease

1. If O.P.E.C. increases its price of oil, and still the demand for oil decreases by a very small amount, we can conclude that the demand for oil is: a)Relatively elastic b)Relati…

1. If P = Q/15 represents market supply for a competitive industry and market de

1. If P = Q/15 represents market supply for a competitive industry and market demand is given by Qd = 500 - 10P, the equilibrium price is: a $12.50. b$20.00. c$31.25. d$50.00. 2. …

1. If Thailand wants to maintain a fixed exchange rate of two baht per euro, it

1. If Thailand wants to maintain a fixed exchange rate of two baht per euro, it should ____( sell/buy) euros in the foreign exchange market. To be successful, this policy would ha…

1. If You have the following information for your product: %uF0FC The price elas

1. If You have the following information for your product: %uF0FC The price elasticity of demand is -0.9 %uF0FC The income elasticity of demand is 0.5 %uF0FC The cross price elast…

1. If a cartel is working properly, its firms will likely be producing where ( M

1.    If a cartel is working properly, its firms will likely be producing where (MCi is each firm i’s marginal cost, MR is market marginal revenue, and P is price): a. MCi = MR. b…

1. If a consumer’s indifference curve was upward sloping, this would tell us: Th

1. If a consumer’s indifference curve was upward sloping, this would tell us: The consumer always prefers a bundle of goods that has more of both goods. We cannot tell anything Th…

1. If a country has a comparative advantage in the production of a good: A) it c

1. If a country has a comparative advantage in the production of a good: A) it can produce that good at a lower opportunity cost. B) it will find trade most beneficial when it tra…

1. If a country has net exports of $8 billion and sold $40 billion of goods and

1. If a country has net exports of $8 billion and sold $40 billion of goods and services abroad, then it has (Points : 2)        $48 billion of imports and $40 billion of exports.…

1. If a country signs a trade agreement so that employment in some industries ri

1. If a country signs a trade agreement so that employment in some industries rises and employment in some industries fall, then a. structural unemployment rises permananently. b.…

1. If a fast-food restaurant chain is deciding whether to offer a low-carb menu

1. If a fast-food restaurant chain is deciding whether to offer a low-carb menu or to add more tables to its restaurant floor, then: a)it is still relevant to calculate marginal c…

1. If a firm in perfect competiiton changes a lower price than the market price

1. If a firm in perfect competiiton changes a lower price than the market price what is expected to happen? A. the market price remains the same and the firm sells out quickly bec…

1. If a firm purchases a part of its supplies on the open market this is called

1. If a firm purchases a part of its supplies on the open market this is called :      a) a spot market purchase      b) a long term contract      c) vertical integration      d) …

1. If a firm purchases a part of its supplies on the open market this is called

1. If a firm purchases a part of its supplies on the open market this is called :      a) a spot market purchase      b) a long term contract      c) vertical integration      d) …

1. If a good is rival A. Consumers fight over the good. B. One consumer\'s benef

1. If a good is rival A. Consumers fight over the good. B. One consumer's benefit increases as another consumers enjoyment. C. Once consumer's use diminishes another consumer's en…

1. If a market is characterized by a positive externality that is not the result

1. If a market is characterized by a positive externality that is not the result of a technology spillover, a. the socially optimal level of output is greater than the equilibrium…

1. If a monopolist must lower the price on all units in order to sell an additio

1. If a monopolist must lower the price on all units in order to sell an additional unit, a. it is impossible for the monopolist to maximize profit b. the monopolist will always l…

1. If a monopolistically competitive firm raises prices, it will: A) sell no out

1. If a monopolistically competitive firm raises prices, it will: A) sell no output. B) continue to sell the same amount of output. (incorrect answer) C) go out of business. D) se…

1. If a perfectly competitive wheat farmer is maximizing its profit and then inc

1. If a perfectly competitive wheat farmer is maximizing its profit and then increases its output, the farmer's A. marginal revenue increases, but so does marginal cost so that th…

1. If a perfectly competitvie firm is currently employing workers to the point w

1. If a perfectly competitvie firm is currently employing workers to the point where the value of the last workers marginal product is equal to the wage rate, the government impos…

1. If a person holds one dollar and does not lose it, then as long as the person

1. If a person holds one dollar and does not lose it, then as long as the person holds that dollar they will have: a. the commodity value of the dollar. c. an interest bearing ass…

1. If a producer (who has no impact on prices) is correctly profit maximizing an

1. If a producer (who has no impact on prices) is correctly profit maximizing and making a profit, what must be true about average vs marginal cost at the current quantity being p…

1. If a production possibility frontier is a straight line, it tells us that the

1. If a production possibility frontier is a straight line, it tells us that the opportunity cost of producing one more unit of good X: A) is an increasing amount of good Y. B) is…

1. If a regulatory commission forces a natural monopoly to charge a price equal

1. If a regulatory commission forces a natural monopoly to charge a price equal to its average total cost: A) output will decrease. B) the monopolist will realize a normal profit …

1. If a security currently worth $12,800 will be worth $17, 983.08 three years i

1. If a security currently worth $12,800 will be worth $17, 983.08 three years in the future, what is the implied interest rate the investor will earn on the security-assuming tha…

1. If a set price attempts to keep prices higher than the equilibrium price it i

1. If a set price attempts to keep prices higher than the equilibrium price it is a: A- price cieling B- Price floor 2.if there is a greater quantity supplied than the quantity de…

1. If a war interrupted oil production, which of the following would most likely

1. If a war interrupted oil production, which of the following would most likely happen in the short run a) unit costs would decrease shifting the aggregate supply curve upward b)…