Economics

For consumers who opt to pay a $10 monthly fee to have unlimited texting on their cell phones, but c

For consumers who opt to pay a $10 monthly fee to have unlimited texting on their cell phones, but c

For consumers who opt to pay a $10 monthly fee to have unlimited texting on their cell phones, but choose not to pay a $5 monthly fee to have unlimited call minutes, the unlimited texting option has a ________ than the unlimited minutes option.

Tidy   401   2 Replies

Chimelo46

Which of the following is not an important difference between privately-owned enterprises and govern

Which of the following is not an important difference between privately-owned enterprises and govern

Which of the following is not an important difference between privately-owned enterprises and government institutions?
A) Decision makers confront different sets of incentives.
B) Different kinds of information are available to decision mak

Sublight2097   401   4 Replies

melano.69lel

The accountant's definition of profits, or the definition used for tax purposes, is not wholly satis

The accountant's definition of profits, or the definition used for tax purposes, is not wholly satis

The accountant's definition of profits, or the definition used for tax purposes, is not wholly satisfactory from the economist's point of view because
A) accountants are paid by business firms and consequently tend to exaggerate the si

Sublight2097   401   3 Replies

Smoooth

Suppose the demand for rescue services in our national parks is perfectly inelastic. This fact would

Suppose the demand for rescue services in our national parks is perfectly inelastic. This fact would

Suppose the demand for rescue services in our national parks is perfectly inelastic. This fact would mean that a 31 percent increase in rescue fees leads to
A) a 31 percent decrease in the quantity demanded.
B) a 31 percent increase in dema

Loraine   401   2 Replies

Smoooth

Suppose the market clearing rate for apartments in Yazoo City, Mississippi is $400 per month, but a

Suppose the market clearing rate for apartments in Yazoo City, Mississippi is $400 per month, but a

Suppose the market clearing rate for apartments in Yazoo City, Mississippi is $400 per month, but a rent control is set at $600 per month. Which of the following would tend to occur in the community?
A) A shortage of apartments
B) An increa

Sublight2097   401   3 Replies

Smoooth

If a country is operating at a point of production efficiency,

If a country is operating at a point of production efficiency,

If a country is operating at a point of production efficiency,
A) it enjoys a free lunch when increasing production.
B) it produces on its production possibilities frontier.
C) it must specialize in the production of a good.
D) i

Loraine   401   2 Replies

Dropx

Fill in the blank: Other things constant, the introduction of generic (non-brand name) drugs on the

Fill in the blank: Other things constant, the introduction of generic (non-brand name) drugs on the

Fill in the blank: Other things constant, the introduction of generic (non-brand name) drugs on the market tends to ________ the price elasticity of demand for brand name drugs.
A) increase
B) decrease
C) leave unchanged
D) alter

Sublight2097   401   4 Replies

Kaitlyn Thoma

Mrs. Lovejoy decides to invest in companies which she believes can produce its goods at the lowest p

Mrs. Lovejoy decides to invest in companies which she believes can produce its goods at the lowest p

Mrs. Lovejoy decides to invest in companies which she believes can produce its goods at the lowest possible cost. Mrs. Lovejoy is investing in companies that are
A) productively efficient.
B) allocatively efficient.
C) both productivel

Tidy   401   2 Replies

Chimelo46

When the Condorcet system of voting is used, there is always a Condorcet winner. (True or false?)

When the Condorcet system of voting is used, there is always a Condorcet winner. (True or false?)

When the Condorcet system of voting is used, there is always a Condorcet winner.

Is this true or false?!

Cuba   401   4 Replies

dfitzpa3

According to the Department of Agriculture, net farm income will fall from $91.1 billion in 2014 to ...

According to the Department of Agriculture, net farm income will fall from $91.1 billion in 2014 to ...

[html]Article Summary
According to the Department of Agriculture, net farm income will fall from

jmoney5   402   5 Replies

nrhus

To maximize profits, a skateboard business hires labour as long as the:

To maximize profits, a skateboard business hires labour as long as the:

To maximize profits, a skateboard business hires labour as long as the
A) wage rate is greater than the price of a skateboard.
B) wage rate is greater than the marginal product of labour.
C) marginal revenue product of labour is gre

Phydeaux   402   2 Replies

789789hj

Aromatic Coffee Inc.. sells two types of coffee, Colombian and Blue Mountain. The monthly budget for ...

Aromatic Coffee Inc.. sells two types of coffee, Colombian and Blue Mountain. The monthly budget for ...

Aromatic Coffee Inc.. sells two types of coffee, Colombian and Blue Mountain. The monthly budget for U.S. coffee sales is based on a combination of last year's performance, a forecast of industry sales, and the company's expected share of t

pduvin   402   3 Replies

travisvorr

The suggestion that a seller will try to set price based on "what the market will bear" ...

The suggestion that a seller will try to set price based on "what the market will bear" ...

The suggestion that a seller will try to set price based on "what the market will bear" is explicit recognition of the constraint imposed by:
A) the firm's marginal cost of production.
B) the price elasticity of demand for

hiusy98   402   3 Replies

dpunt

Goodyear's sales are now greater outside the United States than inside the United States. (True or false?)

Goodyear's sales are now greater outside the United States than inside the United States. (True or false?)

Goodyear's sales are now greater outside the United States than inside the United States.
True or false?

Tidy   402   1 Reply

Sydnie

Across developed and newly industrialized economies, since 1989 the United States has generally had

Across developed and newly industrialized economies, since 1989 the United States has generally had

Across developed and newly industrialized economies, since 1989 the United States has generally had
A) a higher unemployment rate than Japan and Hong Kong and a lower unemployment rate than the Eurozone countries.
B) a lower unemployment r

Loraine   402   2 Replies

Chimelo46

Explain how collusion makes firms better off. Given the incentives to collude, briefly explain why e

Explain how collusion makes firms better off. Given the incentives to collude, briefly explain why e

Explain how collusion makes firms better off. Given the incentives to collude, briefly explain why every industry does not become a cartel.

Tidy   402   2 Replies

Chimelo46

Economists define investment to include purchases of

Economists define investment to include purchases of

Economists define investment to include purchases of
A) capital goods and inventories.
B) capital goods, household durable goods, and inventories.
C) capital goods, such as tools, instruments, and buildings.
D) capital goods, equi

Loraine   402   1 Reply

VincenzoD

Which of the following statements is consistent with the views of Joseph Schumpeter?

Which of the following statements is consistent with the views of Joseph Schumpeter?

Which of the following statements is consistent with the views of Joseph Schumpeter?
A) Research and development by competitive firms is responsible for most technological changes.
B) An economy benefits from firms having market power becau

Tidy   402   1 Reply

VincenzoD

What characteristic of a competitive market has made the "long run pretty short" in the market for i

What characteristic of a competitive market has made the "long run pretty short" in the market for i

What characteristic of a competitive market has made the "long run pretty short" in the market for iPhone applications?
A) few firms in the market
B) identical products
C) ease of entry
D) blocked entry

Tidy   402   1 Reply

VincenzoD

If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility fr

If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility fr

If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility from consuming three candy bars, the marginal utility of the second candy bar is
A) 25 utility units.
B) 20 utility units.
C) 5 utility u

Tidy   402   2 Replies

Chimelo46

The deadweight loss associated with producing a product that has an external cost occurs because

The deadweight loss associated with producing a product that has an external cost occurs because

The deadweight loss associated with producing a product that has an external cost occurs because
A) too much output is produced.
B) too little output is produced.
C) the price that firms charge for the good is too high.
D) not eno

Loraine   402   2 Replies

Chimelo46

If the United States imposes a tariff on foreign chocolate, how are foreign producers of chocolate a

If the United States imposes a tariff on foreign chocolate, how are foreign producers of chocolate a

If the United States imposes a tariff on foreign chocolate, how are foreign producers of chocolate affected?
A) Their supply increases because they have to pay the tariff.
B) They export less to the United States.
C) They earn more pro

Loraine   402   1 Reply

VincenzoD

The use of money adds to wealth because it tends to increase people's

The use of money adds to wealth because it tends to increase people's

The use of money adds to wealth because it tends to increase people's
A) options.
B) risks.
C) costs.
D) expenditures.
E) elasticity of demand.

Sublight2097   402   2 Replies

Sublight2097

Which statement below is true for a price taker in the long run?

Which statement below is true for a price taker in the long run?

Which statement below is true for a price taker in the long run?
A) Net revenue can only be positive.
B) Net revenue can only be negative.
C) Net revenue can only be zero.
D) Net revenue can be positive, negative, or zero.

Sublight2097   402   3 Replies

Smoooth

Economists use elasticity to measure the responsiveness of quantity to a change in price rather than

Economists use elasticity to measure the responsiveness of quantity to a change in price rather than

Economists use elasticity to measure the responsiveness of quantity to a change in price rather than the slope of the demand curve because elasticity is
A) independent of the units of measurement.
B) dependent on the units of measurement.

Loraine   402   2 Replies

Smoooth

If we ignore the negative or positive sign, the midpoint method of calculating a percentage change i

If we ignore the negative or positive sign, the midpoint method of calculating a percentage change i

If we ignore the negative or positive sign, the midpoint method of calculating a percentage change in price between two points on a demand curve results in
A) a smaller percentage change if the price rises than if it falls.
B) the same perc

Loraine   402   2 Replies

Chimelo46

Suppose Embryonica is an LDC with few skilled workers, a primitive banking system, and very little ...

Suppose Embryonica is an LDC with few skilled workers, a primitive banking system, and very little ...

Suppose Embryonica is an LDC with few skilled workers, a primitive banking system, and very little electric power. What do we know for sure that Embryonica is lacking?
 a. Infrastructure.
  b. Political stability.
  c. Agricultural se

jojo13   403   3 Replies

Ambur

Which of the following is an assumption implicit in process-costing?

Which of the following is an assumption implicit in process-costing?

Which of the following is an assumption implicit in process-costing?
A) All completed units receive more direct material inputs than units in process.
B) All completed units receive less direct material inputs than units in process.
C)

pduvin   403   1 Reply

Allopa

An appreciating yen makes Japanese products

An appreciating yen makes Japanese products

An appreciating yen makes Japanese products
A) more expensive in foreign markets.
B) less expensive in foreign markets.
C) more expensive in the Japanese market.
D) more expensive in both foreign markets and the Japanese market.

Tidy   403   2 Replies

Sydnie

The process of bundling financial assets together and buying and selling these bundles in a secondar

The process of bundling financial assets together and buying and selling these bundles in a secondar

The process of bundling financial assets together and buying and selling these bundles in a secondary financial market is called
A) open market operations.
B) securitization.
C) fractional reserve lending.
D) seigniorage.

Tidy   403   1 Reply

Sydnie

When the Fed buys securities from the public, banks' reserves ________ and the quantity of money ___

When the Fed buys securities from the public, banks' reserves ________ and the quantity of money ___

When the Fed buys securities from the public, banks' reserves ________ and the quantity of money ________.
A) increase; increases
B) increase; decreases
C) decrease; increases
D) decrease; decreases
E) do not change; inc

Loraine   403   1 Reply

Sydnie

An example of a transfer payment is

An example of a transfer payment is

An example of a transfer payment is
A) a teacher's paycheck.
B) a paycheck for a member of the National Guard.
C) a welfare payment.
D) a purchase of a new bridge in Alaska.

Tidy   403   2 Replies

Chimelo46

An oligopolistic industry is characterized by all of the following except

An oligopolistic industry is characterized by all of the following except

An oligopolistic industry is characterized by all of the following except
A) existence of entry barriers.
B) the possibility of reaping long run economic profits.
C) firms pursuing aggressive business strategies, independent of rivals&

Tidy   403   2 Replies

Chimelo46

All but one of the following economists were awarded a Nobel prize for their contributions to experi

All but one of the following economists were awarded a Nobel prize for their contributions to experi

All but one of the following economists were awarded a Nobel prize for their contributions to experimental economics and their explorations of the influence fairness has on consumer decision-making. Which economist did not receive a Nobel Prize for t

Tidy   403   2 Replies

Chimelo46

What is most likely to happen to the cost of owning and operating a golf course in a large city when

What is most likely to happen to the cost of owning and operating a golf course in a large city when

What is most likely to happen to the cost of owning and operating a golf course in a large city when the population grows?
A) The cost will decline because the course will be used closer to its capacity.
B) The cost will not change as long

Sublight2097   403   3 Replies

Dropx

Which is the most likely reason why more students continue on to graduate school when the economy is

Which is the most likely reason why more students continue on to graduate school when the economy is

Which is the most likely reason why more students continue on to graduate school when the economy is in bad shape and job prospects are poor?
A) They finally see the value of continuing their education.
B) They are pressured by parents to s

Sublight2097   403   3 Replies

Dropx

Production possibilities frontiers usually curve out and away from the origin. The implication is

Production possibilities frontiers usually curve out and away from the origin. The implication is

Production possibilities frontiers usually curve out and away from the origin. The implication is
A) that as resources are used to produce one good, fewer resources are available to produce another good.
B) that the opportunity cost of pro

Loraine   403   2 Replies

Dropx

Technology is defined as (Multiple Choice)

Technology is defined as (Multiple Choice)

Technology is defined as
A) the process of developing and revising models.
B) new innovations and creations.
C) the processes used to produce goods and services.
D) the process of recycling products.

Tidy   403   2 Replies

Chimelo46

Free riding is primarily a characteristic of which type of good?

Free riding is primarily a characteristic of which type of good?

Free riding is primarily a characteristic of which type of good?
A) a pure private good
B) a pure public good
C) a club good
D) a common pool resource

Cuba   403   3 Replies

IloveChi

How would the unemployment rate and labor force participation rate change if discouraged workers wer

How would the unemployment rate and labor force participation rate change if discouraged workers wer

1.   How would the unemployment rate and labor force participation rate change if discouraged workers were counted as unemployed rather than counted as out of the labor force? Show using the formula for both measurements.

Luo   404   1 Reply

bio_man