Economics

1. The table below shows the average number of ice creams John sells at his stor

1. The table below shows the average number of ice creams John sells at his store per hour during each month of the year. John charges the same for ice cream all year long. Number…

1. The table below shows total output of a bakery of shop that makes bread for v

1. The table below shows total output of a bakery of shop that makes bread for various amounts of labor and capital that are assumed to be the only inputs the bakery needs for mak…

1. The table on federal income tax rates facing various income groups suggest th

1. The table on federal income tax rates facing various income groups suggest that the marginal tax rate in the United States has fallen. What would be your prediction as to how t…

1. The tables below show the spending and revenue for Litteland in 2010. Use the

1. The tables below show the spending and revenue for Litteland in 2010. Use the tables and other information below to answer the questions that follow. This payment covers total …

1. The target rate of unemployment is defined as the absolute lowest possible ra

1. The target rate of unemployment is defined as the absolute lowest possible rate of unemployment that can be achieved in any economy. True False 2. The lowest sustainable rate o…

1. The terms of trade a. Is the negotiated price between international trading p

1. The terms of trade a. Is the negotiated price between international trading partners. b. Are equal to the opportunity cost of the strongest trading partner. c. Are equivalent t…

1. The theory of path dependence a. suggests that market economies seldom lock-i

1. The theory of path dependence a. suggests that market economies seldom lock-in on a particular technology. b. shows that the dominance of private automobile transport in Los An…

1. The three tax structures --- progressive, proportional, and regressive . The

1.         The three tax structures --- progressive, proportional, and regressive.               The classification of tax structures is based on the behavior of the average tax r…

1. The total production of goods and services in a society is: a. equal to that

1. The total production of goods and services in a society is: a. equal to that society's income since all production simultaneously generates income when the production is sold. …

1. The total quantity of all goods and services demanded and purchased by an ent

1. The total quantity of all goods and services demanded and purchased by an entire economy in a given period of time is called: (a) aggregate demand (b) individual demand (c) nat…

1. The total quantity of goods and services demanded by households, firms, forei

1. The total quantity of goods and services demanded by households, firms, foreigners, and government at varying price levels is: a.     gross domestic product. b.    aggregate de…

1. The turning points of the business cycle are called (Points : 1) peaks and tr

1. The turning points of the business cycle are called (Points : 1)       peaks and troughs.       expansions and contractions.       nadirs and zeniths.       peaks and valleys. …

1. The typical sequence of Exploratory-to-Descriptive research is sometimes foll

1. The typical sequence of Exploratory-to-Descriptive research is sometimes followed by an Exploratory research in order to: a. Spend the remaining money, so the budgets for futur…

1. The ultimate cause for the different economic performance in North and South

1. The ultimate cause for the different economic performance in North and South Korea is: Select one: a. more corruption in South Korea than in North Korea. b. more abundant natur…

1. The use of government spending and taxes to influence the nation%u2019s spend

1. The use of government spending and taxes to influence the nation%u2019s spending, employment and price level is known as: a. aggregate demand. b.    monetary policy. c.     fis…

1. The value of insurance Suppose you face a choice between a certain income of

1. The value of insurance Suppose you face a choice between a certain income of $3,000, or a 50-50 chance of income of $1,500 or $4,500. Suppose you prefer the 50-50 chance of $1,…

1. The wage rate for all units of labor is $10/hr. You have spent $160,000 on de

1. The wage rate for all units of labor is $10/hr. You have spent $160,000 on developing a production process (Process X) that will allow you to produce 8 units for every unit of …

1. The water–diamond paradox has never been resolved. 2. Total utility will rise

1. The water–diamond paradox has never been resolved. 2. Total utility will rise as long as marginal utility is rising. 3. The concept of consumer surplus was formulated by Alfred…

1. The “graying of America” is named after a situation where there will be a sub

1.The “graying of America” is named after a situation where there will be a substantial increase in the fraction of the U.S. population that is retired in the decades to come. To …

1. There are 3 parts to this question please answer fully For each of the follow

1. There are 3 parts to this question please answer fully For each of the following cases, calculate the arc price elasticity of demand, and state whether demand is elastic, inela…

1. There are 6 pizza restaurants in Seaside, Oregon. Each sells a slightly diffe

1. There are 6 pizza restaurants in Seaside, Oregon. Each sells a slightly different type of pizza (Chicago style, take and bake, organic, New York style, gourmet, and deep dish),…

1. There are currently several localities considering a tax on sugary drinks e.g

1. There are currently several localities considering a tax on sugary drinks e.g Berkeley, CA and Mexico already has a tax. A review of research, published in the New England Jour…

1. There are seven consumers, each of whom is hungry for exactly one Butterfinge

1. There are seven consumers, each of whom is hungry for exactly one Butterfinger. The consumers' maximum willingness to pay is given in the table below: Consumer (age, gender) Ma…

1. There are several bridges along highway 280 which are free to ride on. This b

1. There are several bridges along highway 280 which are free to ride on. This bridge was built and is being maintained by the government... not the "free" market. Let's think abo…

1. There are two firms in a market with a market demand given as: Q=160-0.2P Tot

1. There are two firms in a market with a market demand given as: Q=160-0.2P Total cost fot each firm is given below. TC1=200Q + 10Q2 TC2=100Q + 5Q2 where Q = Q1 + Q2 ; Q1 is the …

1. There are two firms producing the same good. Each firm has the cost structure

1. There are two firms producing the same good. Each firm has the cost structure TC(q)=q2+30. These are the only two firms in the market where the MARKET demand for the good = P =…

1. There are two major Internet service providers in Eduland. One company has a

1. There are two major Internet service providers in Eduland. One company has a market share of 60%and the other firm has a market share of 40%. The Herfindahl-HirschmanIndex for …

1. There are two players. Each names an amount at the same time as the other. Th

1. There are two players. Each names an amount at the same time as the other. They can say $0 or say $10 or anything in between, even fractions of cents. If the amounts total $10 …

1. There are two workers in the economy, “A” and “B”; “A” can go to school and “

1. There are two workers in the economy, “A” and “B”; “A” can go to school and “B” cannot. Education increases future income according to the following function: I(e)= 50(e)/(1+e)…

1. There exists, in the field of contract law, both contract and non-contract th

1. There exists, in the field of contract law, both contract and non-contract theories of recovery. Depending upon the particular fact situation, a party might file a lawsuit for …

1. There is a negative relationship between two variables if: a. they move in op

1. There is a negative relationship between two variables if: a. they move in opposite directions b. they move in the same direction c. one variable changes and the other does not…

1. There is a surplus (excess supply) in a market for a product when: A) the inc

1. There is a surplus (excess supply) in a market for a product when: A) the increase in supply is greater than the increase in demand. B) the increase in demand is greater than t…

1. There is one scenario where the unemployment rate would probably be underesti

1.     There is one scenario where the unemployment rate would probably be underestimated due to the discouraged worker effect.  One where the rate would probably be underestimate…

1. Theunemployment rate may overestimate the true extent of unemploymentif: a. m

1. Theunemployment rate may overestimate the true extent of unemploymentif: a. manypart-time employees would like to work full-time, but are unable toget the additionalwork. b. ma…

1. This figure depicts a situation in a monopolistically competitive market. 105

1. This figure depicts a situation in a monopolistically competitive market. 105 100 95 MC ATC 75 70-- 65 50 35 30 15 10 Demand 5 10 15 20 25 30 33 40 45 50 35 60 65 70 75 80 83 9…

1. This is true under floating exchange rates: When CA < 0 the home currency app

1. This is true under floating exchange rates: When CA &lt; 0 the home currency appreciates When CA &lt; 0 the export prices will rise When CA &gt; 0 the interest rates rise When …

1. This month, the local widget factory produced 100 widgets. The total variable

1. This month, the local widget factory produced 100 widgets. The total variable cost of production was $500 and the average total cost of production was $8. a. What is the total …

1. This term is used to describe long-run average cost that RISES with increases

1. This term is used to describe long-run average cost that RISES with increases in firm size a.) economies of scale b.) economies of scope c.) increasing returns to scale d.) dis…

1. Three commonly used methods of evaluating marketing programs are marketing me

1. Three commonly used methods of evaluating marketing programs are marketing metrics, marketing dashboards, and        marginal analysis.         marketing audits.         market…

1. Tina hires leff to do odd jobs around her horne and agrees to pay him $5 per

1. Tina hires leff to do odd jobs around her horne and agrees to pay him $5 per hour' Tina further agrees to guarantee Jeff at least 40 hours of work per week' and to pay him l,5 …

1. To a great extent, Economics is about connecting the dots (finding relationsh

1. To a great extent, Economics is about connecting the dots (finding relationships between seemingly unrelated things). a. Our behavior impacts our ecosystem and the ecosystem se…

1. To advertise or not to advertise Suppose that Creamland and Dairy King are th

1. To advertise or not to advertise Suppose that Creamland and Dairy King are the only two firms that sell ice cream. The following payoff matrix shows the profit (in millions of …

1. To advertise or not to advertise Suppose that Fizzo and Pop Hop are the only

1. To advertise or not to advertise Suppose that Fizzo and Pop Hop are the only two firms that sell orange soft drink. The following payoff matrix shows the profits (in millions o…

1. To derive relative supply curve, we use ( ), while to derive relative demand

1. To derive relative supply curve, we use ( ), while to derive relative demand curve, we use ( ). A. PPF and budget lines; indifference curves and price line; B. Budget line and …

1. To develop job descriptions and job specifications, human resource managers u

1. To develop job descriptions and job specifications, human resource managers use the information obtained through a(n) _____. work sample performance appraisal labor contract jo…

1. To find the current table of aggregate reserves, go to www.federalreserve.gov

1. To find the current table of aggregate reserves, go to www.federalreserve.gov/releases/h3/Current To navigate, go to www.federalreserve.gov click on "All Statistical Releases".…

1. To get a loan from the federal reserve, a bank can: A. indirectly from anothe

1. To get a loan from the federal reserve, a bank can: A. indirectly from another member bank B. borrow directly from the Treasury Department C. appeal to the president D. None of…

1. To get a loan from the federal reserve, a bank can: A. indirectly from anothe

1. To get a loan from the federal reserve, a bank can: A. indirectly from another member bank B. borrow directly from the Treasury Department C. appeal to the president D. None of…

1. To help understand an organization culture, think about sahe of the organizat

1. To help understand an organization culture, think about sahe of the organizations to which you belong (work social, etc, 2. Outline the four levels of Corporate Social Responsb…

1. To increase marginal utility, you must decrease consumption (everything else

1. To increase marginal utility, you must decrease consumption (everything else held constant). This statement is correct, even though it sounds strange. Explain why. 2. Suppose t…