Economics

1. In the following table, assume a monopsonist has the marginal-revenue-product

1.     In the following table, assume a monopsonist has the marginal-revenue-product schedule for a particular type of labor given in columns 1 and 2 and that the supply schedule …

1. In the foreign exchange market, two major types of options are: The price of

1. In the foreign exchange market, two major types of options are: The price of option is called: and 2. In financial market, an action taken to protect one's income, assets, debt…

1. In the formula for Bayes theorem if the w-probability is greater than the zer

1. In the formula for Bayes theorem if the w-probability is greater than the zero than the a-probably is less than the b-probability true or false 2. posted offer markets with at …

1. In the information processing model of communications, which is the first ste

1. In the information processing model of communications, which is the first step? Select one: a. attention b. comprehension c. behavior d. exposure 2. Segmentation potential and …

1. In the last decade or so there has been a dramatic expansion of small retail

1. In the last decade or so there has been a dramatic expansion of small retail convenience stores (such as Kwik Shops, WaWa, 7-Elevens, Gas ‘N Shops) although their prices are ge…

1. In the long run perfect competition firms produce at the efficient scale whil

1. In the long run perfect competition firms produce at the efficient scale while Monopolistically Competitive firms have excess capacity A) True B) False 2. In the long run, firm…

1. In the long run, a firm that does not benefit from economies of scope has com

1. In the long run, a firm that does not benefit from economies of scope has complete control over all of the following variables except: a) production technology. b) plant size. …

1. In the market for used cars, half of the cars are of good quality and would s

1. In the market for used cars, half of the cars are of good quality and would sell for $8,000, while half of the cars are of poor quality and would sell for $6,000. If a buyer po…

1. In the new Keynesian model, an increase in household consumption will a. not

1. In the new Keynesian model, an increase in household consumption will a. not affect output. b. increase saving. c. increase output by more than the increase in consumption. d. …

1. In the old days lighthouses were built along the coast to prevent ships from

1.      In the old days lighthouses were built along the coast to prevent ships from running aground on rocks in unfamiliar ports. By shining a beam of light over a port and guidi…

1. In the open-economy macroeconomic model, if investment demand increases, then

1. In the open-economy macroeconomic model, if investment demand increases, then a. net exports fall and the real exchange rate rises. b. net exports and the real exchange rate ri…

1. In the past many industrial chemical waste were dispose of according to the “

1. In the past many industrial chemical waste were dispose of according to the “best practice” of the time (as defined by the laws regulations). Later it was realize that the “bes…

1. In the presence of unions, efficient contracts are expected to result in the

1. In the presence of unions, efficient contracts are expected to result in the hiring of _____ workers than would be hired under the labor demand curve at a given wage. A. more B…

1. In the presence of unions, efficient contracts are expected to result in the

1. In the presence of unions, efficient contracts are expected to result in the hiring of _____ workers than would be hired under the labor demand curve at a given wage. A. more B…

1. In the real world, what are some of the signs that are indicative that the la

1. In the real world, what are some of the signs that are indicative that the labour market might be characterized by a monopsony? a. low wages b. high unemployment c. unfilled va…

1. In the short run marginal product is diminishing because: A. barriers to entr

1. In the short run marginal product is diminishing because: A. barriers to entry prevent new firms from entering the industry. B. the firm does not have sufficient time to change…

1. In the short run marginal product is diminishing because: A. barriers to entr

1. In the short run marginal product is diminishing because: A. barriers to entry prevent new firms from entering the industry. B. the firm does not have sufficient time to change…

1. In the short run marginal product is diminishing because: A. barriers to entr

1. In the short run marginal product is diminishing because: A. barriers to entry prevent new firms from entering the industry. B. the firm does not have sufficient time to change…

1. In the short run, a monopolistically competitive firm produces at the optimal

1. In the short run, a monopolistically competitive firm produces at the optimal level of output and is earning positive economic profits. Which expression must be TRUE for this f…

1. In the short run, a monopolistically competitive firm produces at the optimal

1. In the short run, a monopolistically competitive firm produces at the optimal level of output and is earning positive economic profits. Which of the following describes how thi…

1. In the short run, a perfectly competitive firm suffering a loss a. will close

1. In the short run, a perfectly competitive firm suffering a loss a. will close if P < AVC b. will shut down operations if P < MC c. cannot leave the industry even if P &lt…

1. In the short run, a purely competitive firm will earn a normal profit when: P

1. In the short run, a purely competitive firm will earn a normal profit when: P > MC. P = AVC. that firm's MR = market equilibrium price. P = ATC. 2. The MR = MC rule applies:…

1. In the short run, a. unemployment and inflation are positively related. In th

1. In the short run, a. unemployment and inflation are positively related. In the long run they are largely unrelated problems. b. and in the long run inflation and unemployment a…

1. In the short run, with prices fixed, how would a decrease in the foreign nomi

1. In the short run, with prices fixed, how would a decrease in the foreign nominal money supply affect the exchange rate and output according to the DD-AA schedule? A. It would i…

1. In the short run, with prices fixed, how would a decrease in the foreign nomi

1. In the short run, with prices fixed, how would a decrease in the foreign nominal money supply affect the exchange rate and output according to the DD-AA schedule? A. It would i…

1. In the short run, with prices fixed, how would a decrease in the foreign nomi

1. In the short run, with prices fixed, how would a decrease in the foreign nominal money supply affect the exchange rate and output according to the DD-AA schedule? A. It would i…

1. In the short run, with prices fixed, how would a decrease in the foreign nomi

1. In the short run, with prices fixed, how would a decrease in the foreign nominal money supply affect the exchange rate and output according to the DD-AA schedule? A. It would i…

1. In the state of California, rice growers burn their field stubble to sanitize

1. In the state of California, rice growers burn their field stubble to sanitize their fields. The field burning causes serious air pollution. The alternative sanitizing method co…

1. In the unskilled labor market, workers are often young and inexperienced. Hav

1. In the unskilled labor market, workers are often young and inexperienced. Having little past performance to judge potential employees on, many firms hire workers for a trial pe…

1. In this example inflation is about (pick one) (a) 42% (b) 26% (c) 0.8% (d) 0.

1. In this example inflation is about (pick one)       (a) 42%    (b) 26%    (c) 0.8%     (d) 0.7% 2a. price elasticity of demand EdQx:Px at point A (i.e., from A to B) =   b. cro…

1. In this example inflation is about (pick one) (a) 42% (b) 26% (c) 0.8% (d) 0.

1. In this example inflation is about (pick one)       (a) 42%    (b) 26%    (c) 0.8%     (d) 0.7% 2a. price elasticity of demand EdQx:Px at point A (i.e., from A to B) =   b. cro…

1. In what ways could social media applications contribute to the mission of you

1. In what ways could social media applications contribute to the mission of your organization? 2. How could social media change or strengthen the culture of your organization, wi…

1. In what ways do you think I\'m like you? And not like you? 2. Who is the pers

1. In what ways do you think I'm like you? And not like you? 2. Who is the person who influenced your life the most? 3. Do you have a lost love? 4. Which new technology have you f…

1. In what ways do you think I\'m like you? And not like you? 2. Who is the pers

1. In what ways do you think I'm like you? And not like you? 2. Who is the person who influenced your life the most? 3. Do you have a lost love? 4. Which new technology have you f…

1. In which market will a company arrange to receive currency for a transaction

1. In which market will a company arrange to receive currency for a transaction at a future date? Select one: a. the forward market b. the currency futures market c. the arbitrage…

1. In which of the following situations is the Coase theorem likely to apply? Ex

1. In which of the following situations is the Coase theorem likely to apply? Explain. a. The neighbor who lives below you in the apartment building loves to play old John Denver …

1. In which phase of the business cycle is the U.S. economy currently in? ______

1. In which phase of the business cycle is the U.S. economy currently in? ________________. How many months has the U.S. economy been in this stage of the business cycle? ________…

1. In your opinion, how does NIKE acquire market power? What impact do barriers

1. In your opinion, how does NIKE acquire market power? What impact do barriers to entry have on NIKE's market power? 2.  Are U.S. Antitrust Laws applicable to the fashion industr…

1. Income and substitution effects Aa Aa Carl and Becky Lane live in Chicago and

1. Income and substitution effects Aa Aa Carl and Becky Lane live in Chicago and enjoy going out to fancy restaurants for dinner and to diners for breakfast On the following diagr…

1. Income and substitution effects Aa Aa Sam and Janet Zhou live in San Francisc

1. Income and substitution effects Aa Aa Sam and Janet Zhou live in San Francisco and enjoy going out to fancy restaurants for dinner and to diners for breakfast. On the following…

1. Income inequality and the poverty rate The following table summarizes the inc

1. Income inequality and the poverty rate The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individua…

1. Increasing the reserve requirement ratio is a. a contractionary policy becaus

1. Increasing the reserve requirement ratio is a. a contractionary policy because it lowers the amount of excess reserves in the banking system b. an expansionary policy because i…

1. Indicate whether each of the following decisions is more characteristic of a

1. Indicate whether each of the following decisions is more characteristic of a primarily market-oriented economy or of a primarily command-oriented economy: a. a family decides t…

1. Indicate whether each of the following events will cause a shift or a movemen

1. Indicate whether each of the following events will cause a shift or a movement along the consumption function for the Simpson family. If the event shifts the consumption functi…

1. Indicate whether each of the following is a private good, a common resourcet

1. Indicate whether each of the following is a private good, a common resourcet a natural monopoly, or a public good A. A fireworks display B. A movie viewed at a large theater C.…

1. Indicate whether you believe the following statements are true, false or that

1. Indicate whether you believe the following statements are true, false or that you are uncertain. Support your answer with an explanation in the form of a short paragraph, a gra…

1. Indifference curves and preferences Sharon likes both soda and ice cream. Ass

1. Indifference curves and preferences Sharon likes both soda and ice cream. Assume that the "more is better" principle applies to Sharon; that is, she would always prefer to cons…

1. Indorsers are not contractually liable on negotiable instruments they indorse

1. Indorsers are not contractually liable on negotiable instruments they indorse. True    False 2. Signing a promissory note is an example of establishing primary liability in a n…

1. Inequality can be measured by a. Gini coefficient b. Laffer curve c. GDP d. I

1. Inequality can be measured by a. Gini coefficient b. Laffer curve c. GDP d. Inflation 2. Public choice and democracy a. Can utilize median voter model b. Is obsolete and will b…

1. Inflation is a measure of A) The money supply B) The decrease in the purchasi

1. Inflation is a measure of A) The money supply B) The decrease in the purchasing power of currency C) Interest rates D) Demand for products 2. With a loan of $5000.00 at a compo…