Biology Forums - Study Force

Holding other things constant, if the US dollar depreciates, it makes the US exports
 a. Less attractive to foreigners
 b. More attractive to foreigners
 c. Neither more nor less attractive to foreigners
  d. None of the above

QUESTION 2

Hiring Tech Support Collin County Community College (CCCC) has an ongoing problem that the electronic equipment in their classrooms and computer labs keeps malfunctioning and the repairs that are made seem to cause problems with some other aspect of the equipment. Due to its bureaucratic structure, CCCC has a hiring preference for their own students and it is only allowed to pay 15 per hour when the going rate is closer to 18 per hour. How does this contribute to CCCC's equipment problems?

QUESTION 3

Opportunity costs arise due to
 a. Resource scarcity
  b. Interest rates
  c. Limited wants
  d. Preferences

QUESTION 4

Holding other things constant, if the US dollar appreciates, it makes the US exports
 a. Less attractive to foreigners
 b. More attractive to foreigners
 c. Neither more nor less attractive to foreigners
  d. None of the above

QUESTION 5

Contracting for Lawn Mowing Services An apartment owner advertises for lawn mowing services for a number of apartments he owns. He has some idea of the going price and so he advertises that he will pay 100 per month per apartment complex. So why is he disappointed that the winning contractor only provides minimal services?

QUESTION 6

A business owner makes 50 items a day. Each day he/she contributes 8 hours to produce those items. If hired, elsewhere he/she could have earned 10 an hour. The item sells for 10 each. Production does not stop during weekends. If the explicit costs total 10,00 . for 30 days, the economic profit for the month equals:
 a. 2,600
  b. 2,240
  c. 11,760
  d. 5,000

QUESTION 7

Holding other things constant, decreases in the price level in the US will
 a. Cause the dollar to appreciate
 b. Cause the dollar to depreciate
 c. Cause no change in dollar value
  d. None of the above

QUESTION 8

Cici's Pizza Most pizza restaurants charge by the pie or by the slice. Cici's has found a niche by charging a flat rate for the meal and allowing as many visits to the pizza buffet as the customer desires. How does this affect the make-up of its clientele?

[Answer to ques. #1]  b

[Answer to ques. #2]  CCCC is a victim of adverse selection. Tech support staff members are of varying degrees of competence and expertise. Those who are more competent are better able to migrate to better paying jobs. Those willing to a take below market wage, are the ones who cannot keep better paying jobs.

[Answer to ques. #3]  a

[Answer to ques. #4]  a

[Answer to ques. #5]  He has fallen victim to adverse selection. The scope of services offered by lawn service companies differs from the most basic to elaborate manicuring. Because he stated a price he is willing to pay, the only offers he receives are the lower cost, more basic services.

[Answer to ques. #6]  a

[Answer to ques. #7]  a

[Answer to ques. #8]  Cici's pricing scheme is particularly attractive for patrons who know they will be eating a lot of pizza and not so attractive to patrons who eat sparingly. As a consequence the population that selects into patronizing Cici's tends to include many larger men or teenagers who come after a sporting event.

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