b. C) automatic stabilizers; monetary policy Explain. B) the federal income tax. D. What factors determine the price of electronic cigarettes? D) automatic monetary policy, Since the Social Security system began in 1935, the number of workers per retiree has __________ A) urniture Explore the definition and types of economics including microeconomics and macroeconomics and. To learn a way of thinking Government directives are likely to do a better job of allocating resources than markets. D) Excise and other taxes; individual income taxes. (a) Economic Activities related to Unlimited Wants (b) Economic Activities related to Limited Resources (c) Both (a) and (b) (d) None of these Answer Question 4. B) GDP is not adjusted for pollution. All points outside the curve. Which of the following statements about positive economic analysis is true? C) decrease in demand; decrease in quantity demanded C) entrepreneurship. D. macroeconomics. \text{Total indirect costs}&\text{\underline{\underline{\$\hspace{5pt}380,000}}}\hspace{10pt}\\ Is not a very efficient means of communicating consumer demand to the producers of goods and services. How were consumption and investment affected . As more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities falls D) less than 5 times as much as your grandfather in terms of nominal income. ________ increases economic efficiency because it forces firms to produce and sell goods and services as long as the additional benefit to consumers is greater than the additional cost of production. D) What determines the salaries of college professors? A) the value of all cars produced by General Motors in the United States Is justified by the superiority of lassiez faire over government intervention. D) an increase in the price of gasoline. Its objective is to understand which kind of forces drive it, and with the information collected try to project how performance can improve. Which of the following is a positive economic statement? All of the following events would have this effect except C) the sum of frictional unemployment and structural unemployment equals zero. A) less difficult than with monetary policy. Chapter 6, P R O B L E M S E T 3 . A. achieve full employment. C) GDP is adjusted for changes in crime rates. D) decrease; less. C) increased income tax rates. Deflation occurs when ____________ B. Microeconomics questions and answers Refer to the following graphs to answer the question below. 7 Principles of Macroeconomics- Chapter 1 C) increase flows (2) and (3) and reduce flows (6) and (7). A) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions. A. A. central bank prints more money B. increase in household savings C. decrease in borrowing by private firms D. foreign financial investors c. producers A) higher; higher (b) the level of aggregate demand determines production, employment,. D) $200. For below problem geometric sequence given write the next three terms. Every society faces economic tradeoffs. A pair of shoes that costs $80 last month costs $100 this month. D. Which of the following is a macroeconomics question? Required use of pollution control technology that is obsolete. Poorly timed discretionary policy can do more harm than good. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. A production possibilities frontier with a bowed-outward shape indicates A. increasing opportunity costs as more and more of one good is produced. A devaluation of the U.S. dollar would increase exports from the United States B. Real domestic output is at its maximum level. d. Is concerned with proving that capitalism is better than socialism, An efficient market is a market which D) decrease the number of persons in the working-age population. C. How is the production quantity of snowboards determined? A) the value of output in 2015 was around $17.3 trillion. B) a natural disaster like a hurricane or bad earthquake. D) will raise disposable income and raise spending. Which of the following is included in both the U.S. GDP and U.S. GNP? D. purchases; unlimited; The branch of economics which studies the behavior of entire economies is called 1. It is also the case that reported burglaries increase during the same period. C. The overall economy. ___________ (movement of disabled individuals out This problem has been solved! What goods and services to produce; how will these goods and services be produced; and who receives them? A ________ can change over time or across observations. Which of the following statements is not true? Next post [UPSC Interview 2022] - Transcript #116 : Gen, Raj Shukla Board, PSIR Optional, Maharashtra Home State . B) teachers' salaries paid by a local government C. society's output cannot be made available to all. a. Household income C. Lassiez faire price policies. 60 seconds. b. Caveat emptor a. \end{array} A) the opportunity cost to firms from producing the equilibrium quantity in a competitive market. b. C) greater on the buyer when the tax is collected from the seller and greater on the seller when the tax is collected from the buyer. A) automatic stabilizers. Rearranging, we get: Economists have shown that the burden of a tax is In the long run, most economists agree that a permanent increase in government spending leads to ________ crowding out of private spending A. The police were surprised the bank did not take their advice. The economy has gone into a recession. D) The government imposes taxes on those who earn beyond a certain amount of income. C) downward sloping. A) Economic efficiency D) the plastic bags that Subway purchases to wrap its sandwiches. C) $140. A. Expected inflation is 2.3% and actual inflation may be greater by 0.4%, calculate the impact on the S&P500 projected return ( How would the projected return change) Create a portfolio invested in Boaz Allan (BAH) and Five9 (FIVN) with the . C. when something will be produced; why something will be produced Question: Question 21 Which of the following exemplifies a macroeconomic question? A) income Each of us only has 24 hours in a day, and we must allocate our time in a given day among competing alternatives. BOOK Market Leader intermediate 3rd edition. The decrease in auto sales impacts GDP because new automobiles are counted as ________ when purchased by households and ________ when purchased by businesses. B) an increase in the unemployment rate e. None of the above. C) ice cream and hot fudge are normal goods. International economics. The unemployment rate for the United States rose to 5 percent in the last quarter. They've told our detectives they have no interest in ever putting in the barriers.". d. sensitivity analysis. D. Average combinations of goods and services an economy can produce given its available resources and technology. D) the wages of college graduates do not fall during recession. D) a decrease in the quantity supplied. C) an increase in the quantity supplied. The automobile industry was experiencing the effects of _______ C. how to make money in the stock market. a. This means The demand for bottled water by individuals. C. Production of nonmilitary goods will decrease. How do you go about weighing the alternatives? A. Productive efficiency The Bureau of Labor Statistics would categorize a person as ________ if they were temporarily away from their job because they were ill A sharp rise in the price of vegetables. Macroeconomics focuses on the performance of a. C) people employed in the underground economy b. select the best possible solution. D) incorporates substitutions by consumers when prices of specific products fall rapidly. D) efficient central planning. A) What determines the minimum wage? The production possibilities curve illustrates which two of the following essential principles? d. B and C only, T/F On a time series graph, time is measured along the vertical scale, People who eat kale on a regular basis are more likely to exercise every day than people who do not eat kale. Which one of the following is a macroeconomic issue? C. choices; scarce Which of the following would reduce the labor force participation rate, all else equal? A) frictional unemployment Which one of the following is not a key people behind macroeconomics? D) a decrease in the minimum wage, Which of the following policies would reduce structural unemployment? You are investigating the punctuality of the airlines in Asia. A) increases; increases D) the payroll tax. B) vertical. A) increase. Explain the pitfall of this statement. Holding everything else constant, how would this affect the market for video game consoles (a complement to LCD televisions)? In a free market, production is determined by market forces. D) the same whether the tax is collected from the buyer or the seller. C) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States. b. D. Works because prices serve as a means of communication between consumers and producers. A) inflation. D) 3.5% is considered___________ to herself or others, and Technological progress has made it possible for firms such as Apple and Alivecor to develop small electronic devices, including smartwatches, smartphones, and products that can be attached to the smartwatches and smartphones, to serve consumers who have become more health conscious and wish to monitor various health conditions. B) higher; lower A. it allows countries to exploit their comparative advantage, more fully. D) increased business taxes. C) less than 5 times as much as your grandfather in terms of real income. Persistence is A. the tendency for declines in economic activity to be followed by further declines, and for growth in economic activity to be followed by more growth. C. the highest valued alternative that must be given up to engage in an activity. When the laws about civil commitment emerged, c. Florida should devote all revenues from its state lottery to improving public education When the invisible hand does not produce optimal outcomes for the economy, there is evidence of Refer to the above diagram. Deadweight loss refers to D) unemployed persons falsely report themselves to be actively looking for a job. D. Are willing to pay the highest price. What are the differences and similarities between behaviorism, psychodynamic, and humanistic perspectives? B) government purchases. A. public economics. These firms are reacting to which of the three key economic ideas? A) decreased government regulations on businesses. B. Utilizes both market and non market signals to allocate goods and services. A) he tax cut would increase consumption spending less than would a permanent tax cut. A) Consumer surplus measures the difference between the highest price a consumer is willing to pay for a product and the price she actually pays. The output of U.S. citizens who work in Canada would be included in the _____________ D) depreciation. A) the Pacific Trade Association. Select one: a. Question 12. D. Price regulation by government. B) change; underestimates a. the government . According to a deputy commissioner of police, "Commerce does very little of what we recommend. National income is equal to The ability to exercise control over one's own resources within the confines of the law refers to Question 01. C) How does Fiat decide on the price of the 500 Pop model? B. C) 6.67%. Option a: This option is incorrect because unit of measure is a function of money as money can be used to measure the value of goods and services. The president has proposed increasing the marginal tax rate for people whose annual earnings exceed $275,000 and lowering the marginal tax rate for those who earn less than $275,000 B. the government B. stabilize the price level. B) one's property rights. B) the labor force participation rate decreased. An economy is at equilibrium output when A. Y = C + I + G+ NX B. Y = AD + C + G + NX Micro Economic 100% (3) 6. C. Levels of production that will cause both unemployment and inflation. B) protect the environment. A) an increase in the money supply and a decrease in interest rates Micro Economic 100% (2) 176. Let n=3n2n1\alpha_n=\frac{3-n}{2 n-1}n=2n13n and n=n2+2n13n22,n=1,2,\beta_n=\frac{n^2+2 n-1}{3 n^2-2}, n=1,2, \ldotsn=3n22n2+2n1,n=1,2,. c. Walmart announced that it will increase its starting wage for employees to $10/hour by Feb 2016 B. Equity A) Anytime you have to decide which action to take you are facing an economic trade-off. Fill in the columns for the GDP deflator and for the percent . C. All points inside the curve. The four basic economic questions are: what goods to produce, how to use resources in the production process, who receives the finished goods and when to produce the goods. C. Macroeconomic failure. D) producer surplus is minimized. B) substitution Upon your graduation from college, you find that the economy is in recession and the unemployment rate is relatively high. A) those that borrow money lose. ________ and ________ are the largest sources of revenue collected by the federal government How many airlines will be late in one month? D. There is too much production of lowcost, highquality goods and services. Which of the following would be classified as fiscal policy? C) equity A) automatic stabilizers; discretionary fiscal policy D) an increase in the labor force. A) welfare benefits You . C. Congress increased the minimum wage rate in January. C) a tank purchased by the federal government A. C) Producer efficiency D) quantity of Dell employees. C) the ACIF. Thus we can say that it is that part of economic theory which studies the economy in its totality or as a whole. ________ is defined as a market outcome in which the marginal benefit to consumers of the last unit produced is equal to the marginal cost of production, and in which the sum of consumer surplus and producer surplus is at a maximum. B) falls; Marla's work becomes less valuable once she's married Mike has been unemployed for over a year. C. marginal revenue PetSmart even offers a Top Dog service that includes a premium shampoo, milk bath conditioner, scented cologne spritz, teeth brushing, and a bandana or bow. C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. A) deadweight loss is maximized D. There is no conflict between the two goals.
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