Economics

1. In a well-known legal case, Miller v. Schoene, a classic conflict of property

1. In a well-known legal case, Miller v. Schoene, a classic conflict of property rights was featured. Red cedar trees, used only for ornamental purposes, carried a disease that co…

1. In a world with two products, wheat (W) and coffee (C), nation Alpha produces

1. In a world with two products, wheat (W) and coffee (C), nation Alpha produces wheat and nation Beta produces coffee. Nation Alpha prefers an exchange rate of 1W = 2C and nation…

1. In addition to the positive welfare effects that free trade has on an economy

1. In addition to the positive welfare effects that free trade has on an economy, there are a variety of other benefits of international trade. Consider the following scenario: As…

1. In an economy with no foreign trade and a marginal propensity to consume of 0

1. In an economy with no foreign trade and a marginal propensity to consume of 0.8, which of the following will be true? a. If taxes are increased by $100M, GDP will decrease by $…

1. In an open economy, what is the source of supply in the foreign-currency exch

1. In an open economy, what is the source of supply in the foreign-currency exchange market? A. Net exports B. Exports C. Investment and Net Capital outflow D. Net Capital outflow…

1. In banking, the spread refers to the difference between the A) interest rate

1. In banking, the spread refers to the difference between the A) interest rate on long-term bonds and the interest rate on short-term bonds. B) interest rate on consumer loans an…

1. In closing a request for a recommendation, you should include a. an expressio

1. In closing a request for a recommendation, you should include a. an expression of appreciation. b. an indication that youve enclosed a stamped, preaddressed envelope. c. the fu…

1. In compiling your credit score, the credit bureaus considers all of the follo

1. In compiling your credit score, the credit bureaus considers all of the following except_____. payment history total amount owed length of your credit history income 2.Accordin…

1. In dealing with traffic congestion, which of the following is NOT an advantag

1. In dealing with traffic congestion, which of the following is NOT an advantage of congestion tax over volume control? [10 pts] a. Time-sensitive travellers will be able to use …

1. In each of the following examples determine (1) the market in question; (2) w

1.            In each of the following examples determine (1) the market in question; (2) whether a shift in demand or supply occurred the direction of the shift and what induced …

1. In each of the following situations, identify which of the twelve principles

1. In each of the following situations, identify which of the twelve principles is at work. This includes the3 macro principles that we won't be studying in detail in this course …

1. In early part of the 21 st century, the Euro appreciated relative to the doll

1. In early part of the 21st century, the Euro appreciated relative to the dollar (the dollar depreciated). As a result: Select one: a. Europeans had a strong incentive to specula…

1. In economic theory, if an additional worker adds less to the total output tha

1. In economic theory, if an additional worker adds less to the total output than previous workers hired, it is because a. the firm is experiencing diminishing returns to scale. b…

1. In general, the marginal cost curve is U-shaped as you learned in lectures an

1. In general, the marginal cost curve is U-shaped as you learned in lectures and the textbook. However, exception exists. Please provide one particular industry as an example to …

1. In hindsight, we learned that investment banks in the period 2007 to 2009 lev

1. In hindsight, we learned that investment banks in the period 2007 to 2009 leveraged their balance sheets to high levels. Why did they do so? (2 points) Explain what happened to…

1. In late 2001, and once again in the current economic environment, monetary po

1. In late 2001, and once again in the current economic environment, monetary policy was aimed at lowering short term interest rates. (a) Explain the rationale, given the economic…

1. In microeconomics, the fundamental assumptions of scarce resources and unlimi

1. In microeconomics, the fundamental assumptions of scarce resources and unlimited wants gives rise to the central concern with: a) the model of supply and demand b) perfect comp…

1. In one hour John can produce either 4 units of good X or 12 units of good Y.

1. In one hour John can produce either 4 units of good X or 12 units of good Y. He works an 8 hour day. In his 8 hour day he can produce either___ units of good X or ___units of g…

1. In one sentence, explain why the health care system in the United States is s

1. In one sentence, explain why the health care system in the United States is sometimes referred to as “a paradox of excess and deprivation”. 2. True or False: Overall, the Unite…

1. In order to boost funding for the state of Florida or Mississippi, depending

1. In order to boost funding for the state of Florida or Mississippi, depending on where you are, each state has decided to start a daily drawing where people can purchase a ticke…

1. In order to help The Ritz-Carlton leadership decide whether the 7-day Countdo

1. In order to help The Ritz-Carlton leadership decide whether the 7-day Countdown should be extended to satisfy their partners at Millennium, you’ve performed a cost-benefit anal…

1. In order to minimize the net cost of pollution reduction, the level of pollut

1. In order to minimize the net cost of pollution reduction, the level of pollution reduction (the amount of a pollutant not released into the environment) should be the level at …

1. In periods of high inflation, A) people want to hold as much money as possibl

1. In periods of high inflation, A) people want to hold as much money as possible B) the purchasing power of money is decreasing C) nobody wants to work and earn income D) low nom…

1. In periods of high inflation, A) people want to hold as much money as possibl

1. In periods of high inflation, A) people want to hold as much money as possible B) the purchasing power of money is decreasing C) nobody wants to work and earn income D) low nom…

1. In producer theory, the goal of the firm is to maximize market share. True/Fa

1. In producer theory, the goal of the firm is to maximize market share. True/False 2. The law of diminishing returns implies that eventually the marginal product curve will be ne…

1. In socialism: A. economic forces do not operate. B. individuals are encourage

1.     In socialism: A.       economic forces do not   operate. B.       individuals are   encouraged to act for their own benefit. C.      government planning,   rather than the …

1. In terms of an individual Firm\'s Deadweight loss in the LR, match the Market

1. In terms of an individual Firm's Deadweight loss in the LR, match the Market Structure with its Deadweight Loss A. Some B. None C. Large D. Large<---->None 2. Match the D…

1. In terms of contribution to total income in the United States, the single mos

1. In terms of contribution to total income in the United States, the single most important factor of production is: capital. labor. natural resources. entrepreneurship. 2. Look a…

1. In terms of the mechanics of quantitative easing, A. quantitative easing form

1. In terms of the mechanics of quantitative easing, A. quantitative easing formally changes interest rates; open-market operations only influence rates. B. it works the same as o…

1. In the 1760s, the British authorities and American colonists came into confli

1. In the 1760s, the British authorities and American colonists came into conflict over the British attempts to levy new taxes without the consent of the Americarn colonists: True…

1. In the 1960s, despite the successful application of expansionary fiscal polic

1. In the 1960s, despite the successful application of expansionary fiscal policy in the United States, Milton Friedman argued that a. aggregate demand is affected by money and no…

1. In the AD/AS model, the aggregate demand for goods and services is composed o

1. In the AD/AS model, the aggregate demand for goods and services is composed of the purchases of a. Households and foreigners (net exports) b. Businesses, bondholders, and forei…

1. In the Keynesian model, suppose that the economy has the following values : C

1. In the Keynesian model, suppose that the economy has the following values : C = 100 + 0.75*(Y-T) G = 300 I = 200 NX = 0 T = 200 a) Solve for the level of equilibrium output in …

1. In the Solow model, if the first unit of capital increases output by one unit

1. In the Solow model, if the first unit of capital increases output by one unit, then the second unit of capital will cause total output to? A.increase, but by less than one unit…

1. In the Soviet Union, government owned firms: were highly productive since the

1. In the Soviet Union, government owned firms: were highly productive since they did not need to waste time finding out what consumers wanted. They only had to satisfy the planne…

1. In the above table, if this is a perfectly competitive firm and the market pr

1. In the above table, if this is a perfectly competitive firm and the market price of the product is $8, what is the marginal revenue product of worker 3? - 80 - 96 - 88 - 240 2.…

1. In the absence of market failures, when the govemment taxes market participan

1. In the absence of market failures, when the govemment taxes market participants, the effect is to move the market: A. closer to the competitive equilibrium, thereby reducing so…

1. In the application \"aggregating the demand for broadband service\" (based on

1. In the application "aggregating the demand for broadband service" (based on duffy-deno, 2003), the demand function is Qs=5.97p^0.563 for small firms and Q1=8.77p^0.296 for larg…

1. In the article San Francisco Clamps Down on Monkey Parking App That Allows Dr

1. In the article San Francisco Clamps Down on Monkey Parking App That Allows Drivers to Auction Public Parking Spots, the author describes how an app used to allow drivers to auc…

1. In the below scenario, if John won\'t change his loud morning departure, what

1. In the below scenario, if John won't change his loud morning departure, what can be a method to internalize the cost? John, a computer engineer lives in a suburban neighborhood…

1. In the below scenario, if John won\'t change his loud morning departure, what

1. In the below scenario, if John won't change his loud morning departure, what can be a method to internalize the cost? John, a computer engineer lives in a suburban neighborhood…

1. In the bilateral monopoly the negotiation range is $____ to $_____ A. $700 ,

1. In the bilateral monopoly the negotiation range is $____ to $_____ A. $700 , $600 B. $800 , $200 C. $600 , $500 D. $700 , $300 2. In the perfectly competitive model the deadwei…

1. In the case of a binding price ceiling, the price paid in the market will be:

1. In the case of a binding price ceiling, the price paid in the market will be: more than the free market equilibrium price. less than the free market equilibrium price. equal to…

1. In the class, we discussed that there are four types of market structure. Nam

1. In the class, we discussed that there are four types of market structure. Name each market, and describe how they differ from each other. 2. This question is asking you to draw…

1. In the context of investments in human capital, perfect capital markets imply

1. In the context of investments in human capital, perfect capital markets imply all of the following, except that: a. An individual weighs the costs against the benefits based on…

1. In the context of investments in human capital, perfect capital markets imply

1. In the context of investments in human capital, perfect capital markets imply all of the following, except that: a. An individual weighs the costs against the benefits based on…

1. In the discussion of elasticity and raising and lowering prices, the text sta

1. In the discussion of elasticity and raising and lowering prices, the text states that if you have an elastic demand, you should hesitate to raise your price, and that lowering …

1. In the extensive form representation of the game between Player 1 and Player

1. In the extensive form representation of the game between Player 1 and Player 2, Player 1 moves first and chooses L or R. If Player 1 chooses R the game ends, if Player 1 choose…

1. In the following table are cost and demand data for a pure monopolist. Quanti

1. In the following table are cost and demand data for a pure monopolist. Quantity demanded Price Marginal revenue Average cost Marginal cost 0 $17.50 1 16.00 $16.00 $24.00 $24.00…

1. In the following table are demand and cost data for a pure monopolist. Comple

             1. In the following table are demand and cost data for a pure monopolist. Complete the table by filling in the columns for total revenue, marginal revenue, and margin…