Economics

1. The introduction of a union into a monopsony labor market will cause employme

1. The introduction of a union into a monopsony labor market will cause employment in this market to A. Rise B. Fall C. Remain constant D. Change in a manner than cannot be determ…

1. The inverted-U theory suggests that R&D expenditures as a percentage of sales

1. The inverted-U theory suggests that R&D expenditures as a percentage of sales rise with industry concentration until the four-firm concentration ratio reaches about 30 perc…

1. The investment demand curve is downward sloping. A. True B. False 2. The mone

1. The investment demand curve is downward sloping. A. True B. False 2. The money demand curve can shift due to buying bonds. A. True B. False 3. The money supply curve can shift …

1. The labor force s the 2. The unemployment rate is computed as the number of t

1. The labor force s the 2. The unemployment rate is computed as the number of the labor forcet the Among teenagers, which group has the highest rate? There are 4. Discouraged wor…

1. The language of price controls Suppose that, in a competitive market without

1. The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.50 each. Complete the following table…

1. The larger the mpe, the more repercussions or multiplier effects there are fr

1. The larger the mpe, the more repercussions or multiplier effects there are from a change in expenditures or production and the smaller the multiplier. True/ False? 2. When the …

1. The largest component of consumption expenditures is_______________. a) durab

1. The largest component of consumption expenditures is_______________. a) durable goods b) nondurable goods c) services d) all of the above are equal e) none of the above is corr…

1. The law of increasing opportunity costs says that: a.) costs of production in

1. The law of increasing opportunity costs says that: a.) costs of production increases and then decreases b.) increases in wages cause increases in the costs of production c.) al…

1. The level of an economic activity should be increased to the point where the

1. The level of an economic activity should be increased to the point where the _________is zero. A. marginal cost B. average cost C. total cost D. marginal profit 2. If demand is…

1. The lionfish is an invasive species from the Indo-Pacific, now also found in

1. The lionfish is an invasive species from the Indo-Pacific, now also found in the East Coast of the United States and in the Caribbean. An exceptional predator that reproduces y…

1. The long-run aggregate supply curve (LRAS) is Y = Yf, which depends on the am

1. The long-run aggregate supply curve (LRAS) is Y = Yf, which depends on the amounts of resources and the level of technology innovation. If a country has more resources and bett…

1. The main difference between perfect competition and monopolistic competition

1. The main difference between perfect competition and monopolistic competition is:        A. the number of sellers in the market.        B. the ease of exit from the market.     …

1. The main source of revenue for constructing and maintaining the transportatio

1. The main source of revenue for constructing and maintaining the transportation infrastructure is 0 A, the public good tax O B. the gas tax OC. income tax D,property tax 2. The …

1. The marginal cost pricing model calculates a markup over marginal costs using

1. The marginal cost pricing model calculates a markup over marginal costs using estimates of the price elasticity of demand. Will any other pricing strategy result in higher prof…

1. The marginal cost pricing model calculates a markup over marginal costs using

1. The marginal cost pricing model calculates a markup over marginal costs using estimates of the price elasticity of demand. Will any other pricing strategy result in higher prof…

1. The marginal cost pricing model calculates a markup over marginal costs using

1. The marginal cost pricing model calculates a markup over marginal costs using estimates of the price elasticity of demand. Will any other pricing strategy result in higher prof…

1. The market economy typically does not provide the efficient level of ________

1. The market economy typically does not provide the efficient level of ___________ services. 2. When ___________ is present, unregulated market will not tend to achieve a sociall…

1. The market for lawn services is perfectly competitive. Larry\'s Lawn Service

1. The market for lawn services is perfectly competitive. Larry's Lawn Service cannot increase its total revenue by raising its price because ________. A) Larry's supply of lawn s…

1. The market for tortillas is perfectly competitive, with market demand for pac

1. The market for tortillas is perfectly competitive, with market demand for packages of tortillas given by P=1 .-00002Q, with price in dollars per package and Q in thousands of p…

1. The market value of a bond is ___ a. directly related to the rate of interest

1. The market value of a bond is ___ a. directly related to the rate of interest on the bond b. inversely related to the rate of interest on the bond c. not related to the rate of…

1. The maximum that this economy can produce is A. 10,000 guns B. 5,000 pounds o

1. The maximum that this economy can produce is             A. 10,000 guns             B. 5,000 pounds of butter             C. Both A and B             D. Neither A nor B 2. True…

1. The menu at JoeJoe?\'s coffee shop consists of a variety of coffee? drinks, p

1. The menu at JoeJoe?'s coffee shop consists of a variety of coffee? drinks, pastries, and sandwiches. The marginal product of an additional worker can be defined as the number o…

1. The model predicting victory in a two-person race for the candidate closer to

1. The model predicting victory in a two-person race for the candidate closer to occupying the center of the voter distribution is built on the assumption that a. people always vo…

1. The money supply in the U.S. is backed: A. by the government\'s ability to co

1. The money supply in the U.S. is backed: A. by the government's ability to control the supply of money and keep its value relatively stable. B. by government bonds. C. dollar-fo…

1. The money supply in the U.S. is backed: A. by the government\'s ability to co

1. The money supply in the U.S. is backed: A. by the government's ability to control the supply of money and keep its value relatively stable. B. by government bonds. C. dollar-fo…

1. The money supply increase when the fed a) lowers the discount rate. The incre

1. The money supply increase when the fed a) lowers the discount rate. The increase will be larger the smaller the reserve ratio. b)lowers the discount rate. The increase will be …

1. The monthly general demand function for Product A is give as Qd = 600 – 4P A

1. The monthly general demand function for Product A is give as Qd = 600 – 4PA + 0.03M -12PB + 15T +6Pe + 1.5N, where PA is the price of product A itself, M is income, PB is the p…

1. The most frequently used monetary device for achieving price stability is: Se

1. The most frequently used monetary device for achieving price stability is: Select one: a. open-market operations. b. taxes. c. reserve ratio.   d. discount rate.    2. The majo…

1. The most important economic variable/variables for the US economy isv/are (A)

1. The most important economic variable/variables for the US economy isv/are (A) GDP and per capita income (B) Growth and inflation (C) The unemployment rate (D) All of the above …

1. The most likely impact of an effective price floor is: A. shortage will devel

1. The most likely impact of an effective price floor is: A. shortage will develope B. the supply curve will shift to the right. C. the demand curve will shift to the left. 2. Hou…

1. The multiplier Aa Aa Consider a hypothetical economy without government or in

1. The multiplier Aa Aa Consider a hypothetical economy without government or international trade. Households spend $0.60 of each additional dollar they earn and save the remainin…

1. The multiplier effect means that: A. consumption is typically several times a

1.         The multiplier effect means that: A.        consumption is typically several times as large as saving. B.        a change in consumption can cause a larger increase in …

1. The multiplier in the goods market is the ratio of the initial change in marg

1. The multiplier in the goods market is the ratio of the initial change in marginal propensity to consume to the change in final output. True False 2. If the final change in outp…

1. The multiplier is smaller, other things equal, when: a. the mpe is larger b.

1. The multiplier is smaller, other things equal, when: a. the mpe is larger b. the mpe is smaller c. the mpe is the same d. impossible to tell given the information 2. In the AP/…

1. The nation of Ectenia has 20 competitive apple orchards, which sell apples at

1. The nation of Ectenia has 20 competitive apple orchards, which sell apples at the world price of $2. The followings equations describe the production function and the marginal …

1. The negative slope of the shorten-run Phillips curve is consistent with; a. t

1.       The negative slope of the shorten-run Phillips curve is consistent with; a. the long-run tradeoff between inflation and GDP b. the long-run tradeoff between the unemploym…

1. The nominal interest rate is 6 percent and the real interest rate is 2.5 perc

1. The nominal interest rate is 6 percent and the real interest rate is 2.5 percent. What is the inflation rate? Select one: a. 2.4% b. 3.5% c. 8.5% d. 15% 2. If real output in an…

1. The number of Nation-States has Been about the same since the end of the Colo

1. The number of Nation-States has Been about the same since the end of the Colonialism Consolidated by over 25% since 1949 Has tripled in the past 50 years Been negatively impact…

1. The operating cost of a small machine is $1,600 in year one, $1,800 in year t

1. The operating cost of a small machine is $1,600 in year one, $1,800 in year two, $2,000 in year theree, increasing by $200 per year through year ten. At an interest rate of %8 …

1. The operating cost of a small machine is $1,600 in year one, $1,800 in year t

1. The operating cost of a small machine is $1,600 in year one, $1,800 in year two, $2,000 in year theree, increasing by $200 per year through year ten. At an interest rate of %8 …

1. The opportunity cost of holding money is the:___. a. nominal interest rate. b

1. The opportunity cost of holding money is the:___. a. nominal interest rate. b. unemployment rate. c. federal funds rate. d. prevailing mortgage rate. 2. If government debt is n…

1. The opportunity cost of leisure : a) increases as wages get higher b) decreas

1. The opportunity cost of leisure : a) increases as wages get higher b) decreases as wages get higher c) remains the same as wages get higher d) has nothing to do with wages 2. T…

1. The organization of the Fec Complete the following statements to demonstrate

1. The organization of the Fec Complete the following statements to demonstrate your understanding of the relationships among the different structures of the Federal Reserve. The …

1. The own price elasticity of demand for apples is 1.5. If the price of apples

1. The own price elasticity of demand for apples is 1.5. If the price of apples increases by 10 percent, what will happen to the quantity of apples demanded? a)It will increase 15…

1. The owner of a baseball team and local stadium has commissioned a study that

1. The owner of a baseball team and local stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 - 0.2Q, where P is the …

1. The owner/manager of an athletic shoe store has revenue of $260,000 per year

1. The owner/manager of an athletic shoe store has revenue of $260,000 per year and labor, interest, inventory, and miscellaneous expenses of $200,000. The owner also owns the bui…

1. The owners of a small manufacturing company have hired a manager to run the c

1. The owners of a small manufacturing company have hired a manager to run the company with the expectation that he will buy the company after five years. The goal of the owners i…

1. The people on Coral Island only buy juice and cloth. The CPI basket contains

1. The people on Coral Island only buy juice and cloth. The CPI basket contains the quantities bought in 2010. The average household spent $34 on juice and $36 on cloth in 2010 wh…

1. The percentage of an additional dollar that is paid in tax is called A. a reg

1. The percentage of an additional dollar that is paid in tax is called A. a regressive tax. B. the average tax rate. C. a proportional tax. D. the marginal tax rate. E. a progres…

1. The perfectly competitive firm\'s short run supply curve is the: a. Average c

1. The perfectly competitive firm's short run supply curve is the: a. Average cost curve above the minimum of the marginal cost curve. b. Marginal cost curve above its minimum poi…