Economics

8 years ago

In recent years, which of the following has been negative?

In recent years, which of the following has been negative?
A) consumption expenditure
B) investment
C) government expenditure on goods and services
D) net exports of goods and services
E) wages

Loraine 191 1 Reply

8 years ago

Why do most firms in monopolistic competition typically make zero profit in the long run?

Why do most firms in monopolistic competition typically make zero profit in the long run?
A) because firms produce differentiated products
B) because the lack of entry barriers would compete away profits
C) because firms do not produc

Tidy 191 1 Reply

8 years ago

For a firm in monopolistic competition to undertake product development, the marginal cost of the de

For a firm in monopolistic competition to undertake product development, the marginal cost of the development must be ________ the marginal benefit of the development to consumers.
A) greater than
B) less than
C) not comparable to

Loraine 191 1 Reply

8 years ago

In a natural monopoly, throughout the range of market demand

In a natural monopoly, throughout the range of market demand
A) marginal cost is above average total cost and pulls average total cost upward.
B) average total cost is above marginal cost and pulls marginal cost upward.
C) marginal cos

Tidy 191 1 Reply

8 years ago

Describe the difference between social interest theory of regulation and the capture theory of regul

Describe the difference between social interest theory of regulation and the capture theory of regulation.

Loraine 191 1 Reply

8 years ago

What is meant by allocative efficiency? How does a perfectly competitive firm achieve allocative eff

What is meant by allocative efficiency? How does a perfectly competitive firm achieve allocative efficiency?

Tidy 191 1 Reply

8 years ago

A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output wh

A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. What is the firm's total revenue?
A) $38
B) $285
C) $570
D) $19
E) There is no

Loraine 191 2 Replies

8 years ago

If the market price is less than a perfectly competitive firm's average total cost, what sort of pro

If the market price is less than a perfectly competitive firm's average total cost, what sort of profit or loss is the firm earning?

Loraine 191 2 Replies

8 years ago

As a firm hires more labor in the short run, the

As a firm hires more labor in the short run, the
A) level of total product stays constant.
B) output per worker rises.
C) extra output of another worker may rise at first, but eventually must fall.
D) costs of production are incr

Tidy 191 2 Replies

8 years ago

If another worker is hired with a marginal product greater than the previously hired worker, which o

If another worker is hired with a marginal product greater than the previously hired worker, which of the following will be true?
A) Total costs will decrease.
B) Fixed costs will decrease.
C) Marginal cost will increase.
D) Marg

Loraine 191 2 Replies

8 years ago

Decreasing marginal returns occur in the short run as more labor is hired to work in a fixed sized p

Decreasing marginal returns occur in the short run as more labor is hired to work in a fixed sized plant because
A) less efficient and less productive workers are hired.
B) adding more workers exhausts the possible gains from specialization

Loraine 191 2 Replies

8 years ago

A normal profit is (Multiple Choice Question)

A normal profit is
A) part of a firm's opportunity cost.
B) equal to total revenue minus total opportunity cost.
C) the same as economic profit.
D) the same as accounting profit.
E) almost always zero if the company is r

Loraine 191 2 Replies

8 years ago

Total utility (Multiple Choice Question)

Total utility
A) cannot decrease as a person consumes more and more of a good.
B) has a constant rate of increase as a person consumes more and more of a good.
C) is equal to the sum of the marginal utilities of all units consumed.

Tidy 191 2 Replies

8 years ago

An external benefit is a benefit from a good or service that someone other than the ________ receive

An external benefit is a benefit from a good or service that someone other than the ________ receives.
A) seller of the good or service
B) government
C) foreign sector
D) consumer
E) market maker

Loraine 191 2 Replies

8 years ago

A minimum wage increases unemployment by

A minimum wage increases unemployment by
A) increasing the quantity of labor demanded.
B) decreasing the quantity of labor demanded.
C) shifting only the labor supply curve rightward.
D) shifting only the labor demand curve leftwa

Loraine 191 1 Reply

8 years ago

A stated goal of a minimum wage is to

A stated goal of a minimum wage is to
A) increase government tax revenue.
B) stabilize production costs.
C) boost the incomes of low-wage earners.
D) decrease business profits.
E) increase business profits by making the labor

Loraine 191 1 Reply

8 years ago

A price floor is (Multiple Choice Question)

A price floor is
A) the highest possible legal price that can be charged for a good or service.
B) usually equal to the equilibrium price established before the government imposed the price floor.
C) the lowest legal price at which a g

Loraine 191 1 Reply

8 years ago

Producer surplus is the difference between the highest price a firm is willing to accept for a produ

Producer surplus is the difference between the highest price a firm is willing to accept for a product and the price it actually receives for the product.
True or false?

Tidy 191 1 Reply

Sydnie

8 years ago

Which of the following is part of the cost of income transfers?

Which of the following is part of the cost of income transfers?
A) Tax-collecting agencies cost money to administer.
B) Taxing incomes encourages people to work harder.
C) Income transfers make the results more unfair.
D) Income t

Loraine 191 1 Reply

Sydnie

8 years ago

Which might be an example of a positive externality?

Which might be an example of a positive externality?
A) Loud hip-hop music
B) A dog gets loose from its master
C) A lost wallet filled with twenty-dollar bills
D) The rumbling of a Harley Davidson Low Rider motorcycle
E) Any

Sublight2097 191 3 Replies

8 years ago

Identify whether each of the following transactions will take place in the factor market or in the p

Identify whether each of the following transactions will take place in the factor market or in the product market:
a. Graciela buys a Tesla Motors Model X.
b. Lashan works 60 hours a week at a law firm.
c. Tito sells his family's

Tidy 191 2 Replies

8 years ago

It generally costs advertisers more to run a commercial on television in the evening than in the mor

It generally costs advertisers more to run a commercial on television in the evening than in the morning because
A) it costs stations and networks more to broadcast any given commercial in the evening.
B) overtime wage rates must usually be

Sublight2097 191 3 Replies

8 years ago

An increase in the quantity demanded is shown as

An increase in the quantity demanded is shown as
A) a movement along the demand curve.
B) a movement toward the demand curve.
C) a rightward shift of the demand curve.
D) a leftward shift of the demand curve.
E) both a moveme

Loraine 191 2 Replies

Dropx

8 years ago

In economics, the total amount received for selling a good or service is referred to as

In economics, the total amount received for selling a good or service is referred to as
A) revenue.
B) profit.
C) capital gains.
D) factor payments.

Tidy 191 2 Replies

8 years ago

There are many excellent substitutes for water in almost all American cities because

There are many excellent substitutes for water in almost all American cities because
A) the demand for water is elastic.
B) the demand for water is inelastic.
C) the supply of water is limited.
D) there are so many alternative dri

Sublight2097 191 3 Replies

8 years ago

An outward rotation of the production possibilities frontier occurs when

An outward rotation of the production possibilities frontier occurs when
A) traders specialize in and exchange the products of their comparative advantage.
B) one trader steals from the other.
C) traders produce goods at exactly the sa

Sublight2097 191 3 Replies

8 years ago

People who disagree vehemently about whether or not it is efficient to clear-cut forests or strip-mi

People who disagree vehemently about whether or not it is efficient to clear-cut forests or strip-mine for coal are basically disagreeing about
A) the importance of material wealth.
B) the importance of the economy.
C) the proper relat

Sublight2097 191 3 Replies

8 years ago

Over long time horizons, the more independent a country's central bank is,

Over long time horizons, the more independent a country's central bank is,
A) the lower the inflation that country experiences.
B) the better chance that country has of experiencing hyperinflation.
C) the higher the country'

Cuba 191 3 Replies

8 years ago

Based on labor-market studies using regression analysis, once productivity-related characteristics a

Based on labor-market studies using regression analysis, once productivity-related characteristics are accounted for, the remaining wage gap between women and men is approximately
A) 2%.
B) 5%.
C) 15%.
D) 20%.

Cuba 191 3 Replies

8 years ago

With respect to diffusion of responsibility, the diffusion effect is always greater than the size ef

With respect to diffusion of responsibility, the diffusion effect is always greater than the size effect.

Is this true or false?!

Cuba 191 3 Replies

8 years ago

Which of the following is an example of negotiation costs?

Which of the following is an example of negotiation costs?
A) Isabel knows that other neighbors' sleep patterns must also be affected by the howling dogs in her neighborhood and sets out to find those neighbors.
B) Isabel is bound and

Cuba 191 3 Replies