Economics

1. Suppose you are a transportation planner working for a large city. You are ch

1. Suppose you are a transportation planner working for a large city. You are charged with implementing a new bus system that reduces emissions of particulates by 30%. This is pre…

1. Suppose you are considering buying a gold deposit. It will cost $1 million pe

1. Suppose you are considering buying a gold deposit. It will cost $1 million per year to construct a mine so that gold can be extracted. The construction period lasts 3 years. In…

1. Suppose you are given Qs=2P and Qd=120-P a) What is equilibrium price and qua

1. Suppose you are given Qs=2P and Qd=120-P a) What is equilibrium price and quantity? show the results in graph (plot P in the vertical axis, and q is horizontal axis) b) Suppose…

1. Suppose you are given the following fixed-price Keynesian model: C = 480 + 0.

1. Suppose you are given the following fixed-price Keynesian model:             C = 480 + 0.9Yd             I = 200             G = 100             X = 200             M = 100 + 0…

1. Suppose you are given the following fixed-price Keynesian model: C = 480 + 0.

1. Suppose you are given the following fixed-price Keynesian model:             C = 480 + 0.9Yd             I = 200             G = 100             X = 200             M = 100 + 0…

1. Suppose you are given the following information about a particular industry:

1. Suppose you are given the following information about a particular industry: Market Demand: QD = 6500 – 100P and Market Supply: QS = 1200P Firm Total Cost Function: C(q) = 1500…

1. Suppose you are given the following information about a particular industry:

1.      Suppose you are given the following information about a particular industry: Q^D=6500-100P Market demand Q^S=1200P Market supply C(q)=722+q^2/200 Firm total cost function …

1. Suppose you are hired by Tom the CEO of a large company to determine the firm

1. Suppose you are hired by Tom the CEO of a large company to determine the firm's cost of capital. Tom told you that his company's stock sells for $50 per share and the dividend …

1. Suppose you are hired to manage a small manufacturing facility that produces

1. Suppose you are hired to manage a small manufacturing facility that produces Widgets. (a.) You know from data collected on the Widget Market that market demand has recently dec…

1. Suppose you are the agent for a Cricket batsman. Suppose he is offered the fo

1. Suppose you are the agent for a Cricket batsman. Suppose he is offered the following contract by the Delhi Daredevils: a signing bonus of $3,000,000 (to be received immediately…

1. Suppose you are the city manager of a small Midwestern city. Your city-owned

1.      Suppose you are the city manager of a small Midwestern city. Your city-owned bus system is losing money, and you have to find a way to take in more revenue. Your staff rec…

1. Suppose you earn $4,800 a month and spend exactly $160 in each of the 30 days

1. Suppose you earn $4,800 a month and spend exactly $160 in each of the 30 days. If your entire earnings are deposited in your checking account at the beginning of the month, the…

1. Suppose you earn $50,000 this year, spend $30,000 on food, clothing, and rent

1. Suppose you earn $50,000 this year, spend $30,000 on food, clothing, and rent, and spend $20,000 on a portfolio of stocks and bonds. Compute your saving for this year. (Do not …

1. Suppose you live in a community of 100 people where everyone is able and seek

1. Suppose you live in a community of 100 people where everyone is able and seeks to work. If 80 people are over 16 years old and 72 of them are employed, what is the unemployment…

1. Suppose you live on an island that produces three primary goods that are prod

1. Suppose you live on an island that produces three primary goods that are produced by three individuals as follows: (a)Oranges                  Orange Grove Owner (b)Bananas    …

1. Suppose you own two Starbucks in your town. both of your locations are genera

1. Suppose you own two Starbucks in your town. both of your locations are generating below average revenue. you decide to conduct a pricing experiment. the result of the pricing e…

1. Suppose you were recently promoted to a supervisory job in a company where yo

1. Suppose you were recently promoted to a supervisory job in a company where you have worked for two years. You genuinely like almost all your co-workers, who now report to you. …

1. Suppose your company imports computer chips from Thailand. You have just plac

1. Suppose your company imports computer chips from Thailand. You have just placed an order for 30,000 chips at 4,000 Thailand Baht (THB) each. Payment is due in one year when it …

1. Suppose your firm has a U-shaped average variable cost curve and operates in

1. Suppose your firm has a U-shaped average variable cost curve and operates in a perfectly competitive market. If you produce where the product price (marginal revenue) equals av…

1. Suppose your marketing department does a survey of potential users and finds

1. Suppose your marketing department does a survey of potential users and finds that these users place the following values on the two versions of your software: Software Version …

1. Suppose your nominal income increases by 5 percent at the same time that infl

1. Suppose your nominal income increases by 5 percent at the same time that inflation is 6 percent. Then, ceteris paribus: a) your real income also increased by 5 percent b) your …

1. Surveys show that a small increase in the price of one brand of gasoline (e.g

1. Surveys show that a small increase in the price of one brand of gasoline (e.g. Shell or Irving) will cause most people to switch to other brands. This finding suggests that the…

1. Sushi costs $3 per piece. Cynthia?s total utility after eating one piece is 3

1. Sushi costs $3 per piece. Cynthia?s total utility after eating one piece is 30 and her total utility after eating 2 pieces is 51, so her marginal utility from the second piece …

1. Sven has decided to make and sell his grandmother\'s pasta. He rents a buildi

1. Sven has decided to make and sell his grandmother's pasta. He rents a building for $600/month and pasta equipment for $300/month. The pasta costs $.20 /pound in raw materials t…

1. Sweep accounts were invented in the 1990s. In this financial innovation, bank

1. Sweep accounts were invented in the 1990s. In this financial innovation, banks automatically move excess funds from a customer’s demand deposit account into a Money Market Depo…

1. Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The labo

1. Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are disp…

1. T he world producer price for baseballs is $24 per dozen, and almost all of t

1. T he world producer price for baseballs is $24 per dozen, and almost all of them are produced outside the United States. Suppose the US demand curve is Op 100,000 -2,000P, wher…

1. T or F Microeconomics is the study of economics which includes the national e

1. T or F Microeconomics is the study of economics which includes the national economy and a basic knowledge of how things work in the business world. 2. Ior F Supply and demand r…

1. T/F - Economic regulation involves government intervention in certain industr

1. T/F - Economic regulation involves government intervention in certain industries to make sure that there are fair practices that are being exercised. 2. A _________ is a minimu…

1. T/F Any common law doctrine can be modified by a legislative act. 2. T/F A Pr

1. T/F   Any common law doctrine can be modified by a legislative act. 2. T/F A Professional Code of Ethics embodies the views of the profession, regarding the implied            …

1. T/F Most tax payments increase as GDP increases. 2. T/F Government spending i

1. T/F Most tax payments increase as GDP increases. 2. T/F Government spending influences spending indirectly. 3. T/F During the 2008 presidential campaign, candidate Barack Obama…

1. TRADING CITIES: COMPARATIVE ADVANTAGE AND TRADE 1) The output per hour in the

1. TRADING CITIES: COMPARATIVE ADVANTAGE AND TRADE 1) The output per hour in the North is & shirts and 4 loaves of bread; the output per hour in the South is 4 loaves of bread…

1. TRUE or FALSE. All credits will be assigned to explanations. (a) In a two-goo

1. TRUE or FALSE. All credits will be assigned to explanations. (a) In a two-good model, if one good is an inferior good, then the other good must be a luxury good. (b) Montreal i…

1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1] An economy\'s income

1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1] An economy's income is the same as its expenditure because every [2] GDP is the market value of all final goods and serv…

1. TRUE/FALSE(1 mark per question, 20 marks in total) [1] An economy\'s income i

1. TRUE/FALSE(1 mark per question, 20 marks in total) [1] An economy's income is the same as its expenditure because every transaction has a buyer and a seller. 12) GDP is the mar…

1. Take a look at your electric bill. Currently you pay one charge for the deliv

1.    Take a look at your electric bill. Currently you pay one charge for the delivery and distribution of your electricity by Comm Ed. Then you pay a second and separate charge  …

1. Taxes and government expenditure programs affect a variety of household behav

1. Taxes and government expenditure programs affect a variety of household behaviors. Some economist contend that they affect fertility decisions, marriage decisions, and decision…

1. Taxes may be variously described as progressive, proportional, or regressive,

1. Taxes may be variously described as progressive, proportional, or regressive, depending on how the percentage of income paid in tax changes as income rises. A. You can show tha…

1. Technological advance improves productivity in a purely competitive industry.

1. Technological advance improves productivity in a purely competitive industry. This change will result in a shift: a.) down of the individual firm's MC curve, causing the market…

1. Technological progress occurs when the economy gets more output A without any

1. Technological progress occurs when the economy gets more output A without any more capital or labor B by using more capital per worker C by using more capital but not more work…

1. Technology has helped to make possible which of the following innovations? AT

1. Technology has helped to make possible which of the following innovations? ATMs credit cards mortgage backed securities all of the above 2. A decrease in the government budget …

1. Technology, R & D, and Efficiency. a. Thoroughly and completely explain Inven

1.   Technology, R & D, and Efficiency. a.   Thoroughly and completely explain Invention i.   Distinguish between invention as a process and invention as a result. 1.   Should…

1. Terms of Payment found in international business contracts include: a. CFR (c

1. Terms of Payment found in international business contracts include:             a. CFR (cost and freight, foreign port)             b. Consignment             c. Documentary Dr…

1. Terms of Payment found in international business contracts include: a. CFR (c

1. Terms of Payment found in international business contracts include:             a. CFR (cost and freight, foreign port)             b. Consignment             c. Documentary Dr…

1. Textiles are labor intensive and Computers are capital intensive. a) Based on

1. Textiles are labor intensive and Computers are capital intensive. a) Based on the ppfs in Figure 4.3, which nation is relatively capital abundant? b) Does the nation you chose …

1. The AD curve describes a negative relationship between Y and P. This is becau

1.         The AD curve describes a negative relationship between Y and P. This is because (a) a higher P increases NX (b) a higher P diminishes I (c) a higher P increases G (d) a…

1. The American Recovery and Reinvestment act of 1009 (ARRA) was intended to sti

1. The American Recovery and Reinvestment act of 1009 (ARRA) was intended to stimulate the economy and creat jobs by? a) Increasing aggreget supply b) Increasing aggregate demand …

1. The American Timber Company harvests trees and processes the timber into fini

1. The American Timber Company harvests trees and processes the timber into finished wood that is then sold to the American Lumber Yard, which in turn packages and markets the woo…

1. The Automotive Supply Company has a small plant that produces speedometers ex

1.       The Automotive Supply Company has a small plant that produces speedometers exclusively. Its fixed costs are $30,000, and its variable costs ar $10 per unit. It can sell a…

1. The Bank of America receives a deposit for S another bank. If the banking sys

1. The Bank of America receives a deposit for S another bank. If the banking system is fully loaned out and banks have a reserve requirement of 10% and hold 10% as excess reserves…