Economics

1. The point of tangency between a ray and a TC curve represents: A. Minimum MC

1. The point of tangency between a ray and a TC curve represents: A. Minimum MC B. Minimum AC C. Maximum TC D. Maximum AVC 2. Given an isocost drawn on a graph with capital on the…

1. The potential positive feedback that government spending may have on investme

1. The potential positive feedback that government spending may have on investment is known as the . The potential negative effect that government spending may have on investment …

1. The present value of a security is A) directly related to the discount rate.

1. The present value of a security is A) directly related to the discount rate.                                      B) inversely related to the time until maturity. C) inversely …

1. The present value of a security is A) directly related to the discount rate.

1. The present value of a security is A) directly related to the discount rate.                                          B) inversely related to the time until maturity. C) invers…

1. The presumption of efficiency for capitalism is based on the model of perfect

1. The presumption of efficiency for capitalism is based on the model of perfect competition. Explain the assumptions underlying the model of perfect competition. Provide an examp…

1. The price elasticity of demand for gasoline in Neverlane is -.20. a. The only

1. The price elasticity of demand for gasoline in Neverlane is -.20. a. The only gas station in the town of Neverlane, is considering an increase in the price of gas. If the goal …

1. The price elasticity of demand for gasoline in Neverlane is -.20. a. The only

1. The price elasticity of demand for gasoline in Neverlane is -.20. a. The only gas station in the town of Neverlane, is considering an increase in the price of gas. If the goal …

1. The price elasticity of demand measures: a. the change in quantity demanded o

1. The price elasticity of demand measures: a. the change in quantity demanded of a good given a change in income. b. the change in quantity demanded of a good given a change in t…

1. The price of a new Nokia cell phone is $90. What is the function of money in

1. The price of a new Nokia cell phone is $90. What is the function of money in this context? Answer Question 2 answers a medium of exchange a means of payment a unit of account a…

1. The price of good A goes up. As a result the demandfor good B shifts to the l

1. The price of good A goes up. As a result the demandfor good B shifts to the left. From this we can inferthat: a. Good A is used to produce good B. b. Good B is used to produce …

1. The price of good A goes up. As a result the demandfor good B shifts to the l

1. The price of good A goes up. As a result the demandfor good B shifts to the left. From this we can inferthat: a. Good A is used to produce good B. b. Good B is used to produce …

1. The price of good A goesup. As a result the demand for good B shifts to the l

1. The price of good A goesup. As a result the demand for good B shifts to the left. From this we can infer that: a. Good A is used to produce good B. b. Good B is used to produce…

1. The price of good Agoes up. As a result the demand for good B shifts to the l

1. The price of good Agoes up. As a result the demand for good B shifts to the left. From this we can infer that: a. Good A is used to produce good B. b. Good B is used to produce…

1. The price of labor is $ ---------- 2. To produce 500 units efficiently, a man

1. The price of labor is $ ---------- 2. To produce 500 units efficiently, a manager would use ------- units of labor and ------- units of capital. The minimum cost of producing 5…

1. The price of milk would be of particular interest to b. a microeconomist. c.

1. The price of milk would be of particular interest to b. a microeconomist. c. neither a microeconomist nor a macroeconomist d. both a microeconomist and a macroeconomist. When e…

1. The price of oil rose to $140 per barrel in 2008. This led to increased profi

1. The price of oil rose to $140 per barrel in 2008.   This led to increased profits for oil producers.    The profits, along with new technologies, led to an increase in oil prod…

1. The price of printers at the big box tech stores increases as a new type of p

1. The price of printers at the big box tech stores increases as a new type of print tech is rolled out to consumers. which of the follwoing scenario for a complementary printer g…

1. The principal-agent problem is most likely to occur in which of the following

1. The principal-agent problem is most likely to occur in which of the following situation? a. In a corporation, the owners hire a manager to oversee day-to-day operations b. All …

1. The producer of fine price: a) coefficient of exchange expressed in monetary

1. The producer of fine price: a) coefficient of exchange expressed in monetary terms b) cost plus% gain c) the intercept between supply and demand d) coefficient of change of dol…

1. The production function for Hamburger Heaven (HH) is q=10KL. Given that the m

1. The production function for Hamburger Heaven (HH) is q=10KL. Given that the marignal product of labor, MPL = 10K, marginal product of capital, MPK = 10L, and marginal rate of t…

1. The production possibilities frontier is an economic model thatillustrates ma

1.     The production possibilities frontier is an economic model thatillustrates maximum amount of two goods (say DVD’s and Cars)that can be produced by an economy using its reso…

1. The profit-maximizing level of output occurs where: a. marginal cost equals a

1. The profit-maximizing level of output occurs where: a. marginal cost equals average cost. b. marginal revenue equals zero. c. total profit equals zero. d. marginal cost equals …

1. The profits of a firm depend on market condition and on the effort of its man

1. The profits of a firm depend on market condition and on the effort of its manager Low demand High demand 0.4 100.000 200.000 Probability 0.6 High effort Low effort 100.000 For …

1. The proportion of the U.S. population employed in Agriculture (farming) has a

1. The proportion of the U.S. population employed in Agriculture (farming) has a. increased constant over the last 150 years. c. remained b. decreased 2. The contribution of Agric…

1. The purchaser of a share of stock receives interest each year from the stock

1. The purchaser of a share of stock receives interest each year from the stock and then receives the purchase price of the stock at its maturity. T/F 2. Most of Facebook's invest…

1. The quantity demanded of good A increases by 5 percent when the price of good

1. The quantity demanded of good A increases by 5 percent when the price of good B rises by 10 percent and other things remain the same. Are goods A and B complements or substitut…

1. The quantity theory of money, can be used to show what relationship between P

1. The quantity theory of money, can be used to show what relationship between P, M and Y? a. Inverse relationship between P and M, given Y b. Inverse relationship between P and Y…

1. The question of how are goods and services are produced most closely addresse

1. The question of how are goods and services are produced most closely addresses which of the following scenerios? a) Should Ford build SUV's or luxury cars? b) Should Ford use e…

1. The ratio of the increase in ________ to the increase in ________ is called t

1. The ratio of the increase in ________ to the increase in ________ is called the multiplier. a.equilibrium nominal GDP; autonomous expenditure, b. librium real GDP; autonomous e…

1. The real GDP per capita in Eurasia in 1945 was $25, which reaches $800 in 201

1. The real GDP per capita in Eurasia in 1945 was $25, which reaches $800 in 2016. On the other hand, the economy of Eastasia keeps shrinking. The real GDP per capita in Eastasia …

1. The real deficit is the nominal deficit adjusted for inflation\'s effect on e

1. The real deficit is the nominal deficit adjusted for inflation's effect on existing debt. Answer: True / False 2.If political instability and corruption could be eliminated, ec…

1. The reason that velocity increases when interest rates rise is a. the Fed enc

1. The reason that velocity increases when interest rates rise is a. the Fed encourages banks to turn money in faster for recycling, which causes money to move faster. b. the oppo…

1. The relationship between Variable X and Variable Y can be stated as Y = 5 + 2

1. The relationship between Variable X and Variable Y can be stated as Y = 5 + 2X. A graph of this relationship has a slope equal to: a. 5. b. 2/5. c. 2. d. 5/2. 2. Negative incen…

1. The rise of Islamic fundamentalism is, in part, a response to the: A. denial

1. The rise of Islamic fundamentalism is, in part, a response to the: A. denial of equal rights for women and other minorities. B. movement in traditional Islamic societies toward…

1. The roles of money The roles of money Carlos just graduated from college and

1. The roles of money The roles of money Carlos just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down payment. He's deciding betwee…

1. The scores of students on the ACT college entrance examination in a recent ye

1. The scores of students on the ACT college entrance examination in a recent year had a normal distribution with a mean of 18.6 and a standard deviation of 5.9. A simple random s…

1. The short run variable costs below are for a firm in a perfectly competitive

1. The short run variable costs below are for a firm in a perfectly competitive market. All firms producing this good have the same costs. The demand is the market demand for the …

1. The short-run supply curve of a competitive firm is a) the portion of the ave

1. The short-run supply curve of a competitive firm is a) the portion of the average variable cost curve that lies above its marginal cost curve. b) the portion of its marginal co…

1. The size of the effect of a given deposit of cash into a demanddeposit accoun

1. The size of the effect of a given deposit of cash into a demanddeposit account on the money supply is greater: a. the greater the fraction of money people want to hold ascurren…

1. The smaller the mpe, the more repercussions there are from a change in expend

1. The smaller the mpe, the more repercussions there are from a change in expenditures or production and hence the greater is the multiplier. True False 2. A decrease in real mone…

1. The speed at which we transition between the short run and the long run in ec

1. The speed at which we transition between the short run and the long run in economics is determined by A. How quickly interest rates change in the response to changes in the nom…

1. The speed at which we transition between the short run and the long run in ec

1. The speed at which we transition between the short run and the long run in economics is determined by A. How quickly interest rates change in the response to changes in the nom…

1. The spreadsheet provides information about the economy in Argentina. Column A

1. The spreadsheet provides information about the economy in Argentina. Column A is the year, Column B is real GDP in billions of 2000 pesos, and Column C is the price level. A B …

1. The standard size of a gold futures contract trading on the Chicago Mercantil

1. The standard size of a gold futures contract trading on the Chicago Mercantile Exchange is 100 troy ounces. Prices are quoted as dollars and cents per troy ounce and the contra…

1. The standard time for completing a particular activity is four minutes and fi

1. The standard time for completing a particular activity is four minutes and fifteen seconds.                  a) Suppose an experienced employee completes an average of 16 activ…

1. The supply curve for a monopolistis: A. perfectly elastic. B. upsloping. C. t

1. The supply curve for a monopolistis: A. perfectly elastic. B. upsloping. C. that portion of the marginal cost curve lyingabove minimum average variable cost. 2. Which of the fo…

1. The supply curve for coal is: P 0.5Q and the demand for coal is: P-1000-20 Fi

1. The supply curve for coal is: P 0.5Q and the demand for coal is: P-1000-20 Find the equilibrium price and quantity of coal traded in this market. Find consumer surplus and prod…

1. The supply of labour to an industry is generally upward sloping because: a. W

1. The supply of labour to an industry is generally upward sloping because: a. Workers are more willing to work when there are incentives in the form of higher wages. b. It is mor…

1. The table below show the Production Possibilities Schedule for acountry. Poin

1. The table below show the Production Possibilities Schedule for acountry. Point   A       B      C      D     E Qx     0        20      40   60     60 Qz      180    170    130 …

1. The table below shows hypothetical levels of average household debt and debt-

1. The table below shows hypothetical levels of average household debt and debt-service payments in two years, 2005 and 2008. Assume households are paying only interest on their d…