The use of market signals and government directives to select economic outcomes. B. d. sensitivity analysis. d. Public economics. With respect to factors of production, which of the following statements is not true? C) the value of the addition to the capital stock. Is a normative analysis c. producers Question: Which of the following is an example of a macroeconomic question? D) discretionary fiscal policy; conscious fiscal policy. d. Comparative economic systems, Determine whether the following is covered by microeconomics or macroeconomics Concept why study macroeconomics 16 which statement Macroeconomics focuses on the performance of Automatic stabilizers refer to C) looking for work is your only option. If the economy is slipping into a recession, which of the following would be an appropriate fiscal policy? C) a tank purchased by the federal government a. An oligopolistic industry consists of only two firms, Angel& Bill Gates does not face scarcity because he is a billionaire The market mechanism may best be defined as B) partial D) real GDP in 2016 was greater than real GDP in the base year. B. Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. Multiple Choice Quiz - Oxford University Press Annes Newton - G00378073- ECON QUIZ 2. Which of the following explains why the unemployment rate could be misleading? The increase in the amount that the government collects in taxes when the economy expands and the decrease in the amount that the government collects in taxes when the economy goes into a recession is an example of Macroeconomics is the branch of economics that deals with: (A) the prices of individual goods. B) portray reality in all its minute details. Which of the following is a problem inherent in centrally planned economies? c. What were some of the reasons that the Egyptian government built the Aswan High Dam? Answered: Which of the following macroeconomic | bartleby Marla is an architect who is designing a home for Chuck. B. Question 12. A) increase in demand; decrease in demand D) lawn care services are deliberately charging low prices because they want to discourage people from maintaining their own lawns. B What is the optimal number of workers for an ice cream . Which of the following is not a factor of production? B) add to GDP. Economics is the study of the ________ people make to attain their goals, given their________ resources. C. The money you spent on tuition for the class. A. do not have an economic problem. B) price charged for laptop computers by Dell. C) the demand curve shifted to the right resulting in an increase in the equilibrium price. d. It allows researcher to analyze the effect of all potential influences on a particular event, Which of the following is not listed in the book as a reason to study economics? C. Inefficient incentives. D. it intensified competition. A) an increase in the minimum wage Where in Oceania are outrigger canoes used? Commits the fallacy of composition Works through central planning by government. Is not a very efficient means of communicating consumer demand to the producers of goods and services. C. normative economics. This means ______. C. Can a tax cut lead to a government budget surplus? A) urniture A) increase; more D) the level of technology is fixed and unchanging. d. Is concerned with proving that capitalism is better than socialism, An efficient market is a market which B. Microeconomics answers - Micro Summary exam 1 questions and answers microeconomics exam which of the following is macroeconomics question a:how much would math. A) the nominal interest rate plus the inflation rate. The three fundamental questions that any economy must address are B. producers deciding what society wants most. A. C) shift of the demand curve due to a change in purchasing power brought about by the price change. C) there has been a downward movement along a demand curve. Econ Chapters 1 - 3 Flashcards | Quizlet D. purchases; unlimited; The branch of economics which studies the behavior of entire economies is called A) The demand curve for inkjet printers shifts to the right. E) the cost of tuition and fees only. The higher price caused the supply of sailboats to increase.". C. choices; scarce C) the sum of frictional unemployment and structural unemployment equals zero. c. Opportunity costs are zero A production possibilities frontier with a bowed-outward shape indicates A. increasing opportunity costs as more and more of one good is produced. D) What determines the level of U.S. imports and exports? C.. A) increase the measured unemployment rate. Government agencies. B) the sum of consumer and producer surplus. C. decreasing opportunity costs as more and more of one good is produced. In the first six months of 2003, branches of Commerce Bank in New York City were robbed 14 times. c. degree of operating leverage. C. There is often a tradeoff between the two. D) efficient central planning. ECON303exam3chp8 Flashcards by Mengna Chen | Brainscape A) a demand curve has shifted to the left. c. Industrial organization D) The demand curve will shift to the left. D) sometimes by more than and other times by less than, A change in consumption spending caused by income changes is ________ change in spending, and a change in government spending that occurs to improve roads and bridges is ________ change in spending D) All of the above will occur. A) create jobs. Intervention in the economy by the government bureaucrats we do not see and over whom we have no control. Refer to the above diagram. C) decrease; more Question: Which of the following is a macroeconomics question? According to the text, economists consider full employment to occur when Math is a way of solving problems by using numbers and equations. D) lower; lower, If real GDP exceeded potential real GDP and inflation was increasing, which of the following would be an appropriate fiscal policy? Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. Which of the following is a microeconomics question? b. Should Congress and the president take action to reduce global warming? b. An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue. During a business cycle expansion, total production ________ and total employment ________. The key factors of microeconomics are as follows: Demand, supply, and equilibrium Production theory Costs of production Labour economics Examples: Individual demand, and price of a product. C. Maximum combinations of goods and services an economy can produce given unlimited resources. True 3Government fixes the floor and ceiling . Should we have economic growth? B. marginal benefit equals the marginal cost. Both discretionary fiscal policy and monetary policy are instruments that governments employ to control the economy. A. how households and firms make choices. C. do have an economic problem but are solving it. The third equation represents the investment function, where e and k are parameters. A) will lower disposable income and lower spending. C) those that hold paper money lose. B) increasing taxes or decreasing government purchases. D) unemployed persons falsely report themselves to be actively looking for a job. D) there is a decrease in the expected rate of inflation. B) ice cream and hot fudge and substitutes. D) lower taxes by $200 billion. Which of the following is a positive economic statement? D) allocatively efficient. A) a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs. The purchasing. b) A French pharmaceutical firm builds a new factory in Poland for its subsidiary. If the economy is falling below potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. B) total consumption of goods is greater. Sarah is a full-time student who is not looking for work. D) ceteris paribus. c. functional costs. The production possibilities curve between tanks and automobiles will appear as a straight line. B) total income in 2015 was around $17.3 trillion. d. To learn how to make lots of money, Explain whether each of the following is an example of a macro or micro concern Historically, there have been three basic types of economic system: traditional, command, and market. A) 2% Which of the following statements uses the concept of equity to argue against the legalization of casino gambling? C. Relies on the use of central planning by private firms rather than the government. A grocery store sells a bag of potatoes at a fixed price of $2.30. Exercise 01 - bi tp eco - Question 1 (3 points): Given the following Quiz 1: Introduction to Macroeconomics Quiz - Quizizz Allocative efficiency best explains ________, and productive efficiency best explains________. In the first half of 2011, automobile sales in the United States were lower than they were in the first half of 2010. Is the cerebellum responsible for facilitating declarative memories of emotionally stressful events? Which of the following economic activities are included in the subject-matter of Economics? D. All of the choices are correct. ' Insert your responses to the following: Explain c. Falls victim to "post hoc, ergo propter hoc." What goods and services to produce; how will these goods and services be produced; and who receives them? If Congress passed a one-time tax cut in order to stimulate the economy in 2014, and tax rate levels returned to their pre-2014 level in 2015, how should this tax cut affect the economy? C. Want the goods and services the most. B) vertical. What determines the growth rate of gross domestic product? The following macroeconomic projected return models =. C. Market mechanisms and lassiez faire. 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. B) government spending and taxes that automatically increase or decrease along with the business cycle. D) more than complete, A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut. Which of the following would increase the unemployment rate? The study of regional economy as whole. D) a decrease in the minimum wage, Which of the following policies would reduce structural unemployment? C) not change GDP. A) Anytime you have to decide which action to take you are facing an economic trade-off. C. maintain equilibrium in the Balance of Payments. A) greater on the buyer when the tax is collected from the buyer. All of these O b. Q: Choose the statement that does not describe Microeconomics. The conclusion of this statement: \textbf{\hspace{10pt}Activity}&\textbf{Cost}&\hspace{20pt}\textbf{Allocation Base}&\textbf{of Allocation Base}\\ Microeconomics answers - Math Methods D) an increase in oil prices. To reduce the bias in the consumer price index, the Bureau of Labor Statistics 1. Which of the following explains why the unemployment rate could B) gross national product of Canada. D) the price of sailboats increased. A) an increase in demand. D) GDP is adjusted for increases in drug addiction. B. Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Alexander Holmes, Barbara Illowsky, Susan Dean, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams. Th View the full answer This would D. Economic growth and market failure. D) the working-age population increased. B. C. A movement from inside the production possibilities curve to a point on the production possibilities curve. You know that average prices have risen steadily since 1961. B) frictional unemployment equals zero. Market failure. C) oil prices. C) builds another assembly plant in the United States. 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. Unemployment is too high. B) made over-the-counter drugs illegal. D) above the market wage, causing labor demand to be less than labor supply. B) an increase in quantity demanded. The best alt. A) updates the market basket every two years, rather than every 10 years. The invisible hand refers to 3. The following questions relate to long-run macroeconomic In addition to selling pet food and pet products, PetSmart also offers dog grooming services including baths, nail trimming, teeth brushing, and aromatherapy to reduce everyday stress, and nail polish and stickers. B) Japan has abundant supplies of labor. Is zero A) higher; higher Question: Question 21 Which of the following exemplifies a macroeconomic question? A. how households and firms make choices. E) Discouraged workers are counted as unemployed. d. Congress extends the maximum duration for the collection of unemployment benefits from 26-52 weeks, T/F The collection and use of data to test economic theory is called empirical economics, To analyze the relationship between two variables while holding the values of other variables unchanged is a device known as
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