Economics

The growing popularity of energy conservation has enticed large home improvement stores like Home De

The growing popularity of energy conservation has enticed large home improvement stores like Home De

The growing popularity of energy conservation has enticed large home improvement stores like Home Depot and Lowes to offer tankless water heaters. How does the fact that home improvement stores now offer these products affect the tankless water heate

Tidy   410   2 Replies

Smoooth

Households (Multiple Choice Question)

Households (Multiple Choice Question)

Households
A) purchase final goods and services in the factor market.
B) purchase final goods and services in the product market.
C) purchase resources in the product market.
D) purchase resources in the factor market.

Tidy   410   2 Replies

Dropx

Strictly speaking, which has a cost?

Strictly speaking, which has a cost?

Strictly speaking, which has a cost?
A) A decision
B) A cup
C) A cup of diamonds
D) A gallon of water
E) Checking accounts that charge fees for deposits below $100

Sublight2097   410   3 Replies

Dropx

The concept of "opportunity cost" helps us explain the choices of

The concept of "opportunity cost" helps us explain the choices of

The concept of "opportunity cost" helps us explain the choices of
A) consumers only.
B)  producers only.
C) greedy people only.
D) politicians only.
E) any individual.

Sublight2097   410   3 Replies

Dropx

Why does a nation experience increasing opportunity cost?

Why does a nation experience increasing opportunity cost?

Why does a nation experience increasing opportunity cost?
A) As the nation moves from a production point within the PPF to one on the PPF, opportunity costs increase.
B) As the nation moves from a production point within the PPF to another

Loraine   410   2 Replies

Dropx

The saying "There's no such thing as a free lunch," applies

The saying "There's no such thing as a free lunch," applies

The saying "There's no such thing as a free lunch," applies
A) when there is some unemployment.
B) on the production possibilities frontier.
C) to unattainable combinations of goods and services.
D) when more of one

Loraine   410   2 Replies

Dropx

If the risk associated with a particular outcome is ________, or the value of a particular outcome i

If the risk associated with a particular outcome is ________, or the value of a particular outcome i

If the risk associated with a particular outcome is ________, or the value of a particular outcome is ________, then cost-benefit analysis might lead people to indulge in too much risk.
A) overestimated, overestimated
B) overestimated; unde

Cuba   410   3 Replies

IloveChi

A scatterplot allows us (Multiple Choice Question)

A scatterplot allows us (Multiple Choice Question)

A scatterplot allows us
A) to mark peaks and troughs.
B) to see the comovement between two time series.
C) to determine whether a series leads or lags.
D) to determine how persistent a series is.

Ao9   411   3 Replies

Gordis

In the real world we don't observe countries completely specializing in the production of goods for

In the real world we don't observe countries completely specializing in the production of goods for

In the real world we don't observe countries completely specializing in the production of goods for which they have a comparative advantage. All of the following are reasons for this except
A) not all goods and services are traded internati

Tidy   411   2 Replies

Mayweather

If European economies enter a recession,

If European economies enter a recession,

If European economies enter a recession,
A) U.S. aggregate demand decreases and the U.S. AD curve shifts leftward.
B) U.S. aggregate demand increases and the U.S. AD curve shifts rightward.
C) the quantity of real GDP demanded in the U

Loraine   411   2 Replies

Sydnie

Economic efficiency requires that a natural monopoly's price be

Economic efficiency requires that a natural monopoly's price be

Economic efficiency requires that a natural monopoly's price be
A) equal to average total cost where it intersects the demand curve.
B) equal to marginal cost where it intersects the demand curve.
C) equal to average variable co

Tidy   411   1 Reply

VincenzoD

Many airlines have not reduced or eliminated fuel surcharges despite the price of oil dropping. A lo

Many airlines have not reduced or eliminated fuel surcharges despite the price of oil dropping. A lo

Many airlines have not reduced or eliminated fuel surcharges despite the price of oil dropping. A logical reason for this is that the decline in fuel prices ________ the supply of airline tickets while at the same time the demand for airline tickets

Tidy   411   2 Replies

Chimelo46

On average, jobs at small firms pay ________ wages than jobs at large firms and are ________ likely

On average, jobs at small firms pay ________ wages than jobs at large firms and are ________ likely

On average, jobs at small firms pay ________ wages than jobs at large firms and are ________ likely to offer fringe benefits such as health insurance and retirement accounts.
A) higher; more
B) lower; more
C) higher; less
D) lower

Tidy   411   2 Replies

Chimelo46

A point on the supply curve can illustrate the

A point on the supply curve can illustrate the

A point on the supply curve can illustrate the
A) price and the corresponding quantity supplied.
B) marginal cost of that unit of the good.
C) price the consumer is willing to pay.
D) Both answers A and B are correct.
E) Bot

Loraine   411   1 Reply

Sydnie

All else equal, the desired increase in the supply of smart phones for Google would cause the equili

All else equal, the desired increase in the supply of smart phones for Google would cause the equili

All else equal, the desired increase in the supply of smart phones for Google would cause the equilibrium price of the smart phones to ________ and the equilibrium quantity of the smart phones to ________.
A) increase; increase
B) increase;

Tidy   411   2 Replies

Sydnie

Assume that it is predicted that for the years after you graduate from college, the entire economy w

Assume that it is predicted that for the years after you graduate from college, the entire economy w

Assume that it is predicted that for the years after you graduate from college, the entire economy will experience a long period of prosperity when incomes grow rapidly. What type of industry would be the best for you to find employment if this predi

Loraine   411   2 Replies

Sydnie

If the price of a Brita water filtration system increases and the quantity demanded of bottled water

If the price of a Brita water filtration system increases and the quantity demanded of bottled water

If the price of a Brita water filtration system increases and the quantity demanded of bottled water increases, then these two goods are
A) substitutes.
B) complements.
C) normal goods.
D) inferior goods.
E) inelastic goods.

Loraine   411   1 Reply

Sydnie

The law of demand implies, holding everything else constant, that as the price of gelato

The law of demand implies, holding everything else constant, that as the price of gelato

The law of demand implies, holding everything else constant, that as the price of gelato
A) increases, the demand for gelato will increase.
B) increases, the quantity of gelato demanded will increase.
C) decreases, the quantity of gela

Tidy   411   2 Replies

Smoooth

Sarita can bake either a combination of 25 cakes and 15 pies or a combination of 10 cakes and 20 pie

Sarita can bake either a combination of 25 cakes and 15 pies or a combination of 10 cakes and 20 pie

Sarita can bake either a combination of 25 cakes and 15 pies or a combination of 10 cakes and 20 pies. If she now bakes 10 cakes and 20 pies, what is the opportunity cost of baking an additional 15 cakes?
A) 5 pies
B) 10 pies
C) 15 pie

Tidy   411   2 Replies

Dropx

Over the past year price inflation has been 10%, but the price of a used Ford Escort has fallen from ...

Over the past year price inflation has been 10%, but the price of a used Ford Escort has fallen from ...

Over the past year price inflation has been 10%, but the price of a used Ford Escort has fallen from $6,000 to $5,000.  The real price of a Ford Escort has fallen by:
A) 12%.
B) 17%
C) 20%.
D) 24%
E) 32%.

Satsume   412   1 Reply

LBCea

A mutual fund that is organized as a limited partnership with high minimum investments is called a A

A mutual fund that is organized as a limited partnership with high minimum investments is called a A

A mutual fund that is organized as a limited partnership with high minimum investments is called a
A) investment bank.
B) hedge fund.
C) mutual savings bank.
D) money market mutual fund.

valputin   412   3 Replies

Meela

In the United States, the average length of expansions from 1950 to 2009 was more than twice as long

In the United States, the average length of expansions from 1950 to 2009 was more than twice as long

In the United States, the average length of expansions from 1950 to 2009 was more than twice as long than they were from 1900 to 1950.
True or false?

Tidy   412   2 Replies

Smoooth

Which of the following indicates that the U.S. economy has become more stable since 1950?

Which of the following indicates that the U.S. economy has become more stable since 1950?

Which of the following indicates that the U.S. economy has become more stable since 1950?
A) longer recessions
B) shorter expansions
C) less severe fluctuations in real GDP
D) All of the above indicate that the U.S. economy has be

Tidy   412   2 Replies

Smoooth

The drawback to calculating real GDP using base-year prices is that

The drawback to calculating real GDP using base-year prices is that

The drawback to calculating real GDP using base-year prices is that
A) real GDP in one year is not comparable to real GDP in another year.
B) relative prices change over time and these are not reflected in base-year prices, and this distort

Tidy   412   2 Replies

Chimelo46

"Cost disease" refers to the tendency for low productivity in the service sector to lead to higher c

"Cost disease" refers to the tendency for low productivity in the service sector to lead to higher c

"Cost disease" refers to the tendency for low productivity in the service sector to lead to higher costs in those industries.
True or false?

Tidy   412   1 Reply

VincenzoD

Of the following high-income countries, which has the highest number of CT scanners per 1 million po

Of the following high-income countries, which has the highest number of CT scanners per 1 million po

Of the following high-income countries, which has the highest number of CT scanners per 1 million population?
A) Canada
B) Japan
C) the United Kingdom
D) the United States

Tidy   412   1 Reply

VincenzoD

Neither the demand for gasoline nor the supply of gasoline is perfectly elastic or inelastic. If the

Neither the demand for gasoline nor the supply of gasoline is perfectly elastic or inelastic. If the

Neither the demand for gasoline nor the supply of gasoline is perfectly elastic or inelastic. If the federal government eliminated the 18.4 cents per gallon gasoline tax, the price paid by buyers would
A) decrease by less than 18.4 cents.
B

Loraine   412   1 Reply

Sydnie

Which age householder group's mean income among the following was the highest in 2010?

Which age householder group's mean income among the following was the highest in 2010?

Which age householder group's mean income among the following was the highest in 2010?
A) 15-25 years old
B) 25-34 years old
C) 45-54 years old
D) 65 years and older

Sublight2097   412   3 Replies

Sydnie

A commercial society, as described by Adam Smith, develops when

A commercial society, as described by Adam Smith, develops when

A commercial society, as described by Adam Smith, develops when
A) maximizing income becomes the ultimate objective for most people.
B) more people are employed in service industries than in agriculture and manufacturing.
C) private in

Sublight2097   412   3 Replies

Chimelo46

Bitcoin is a cryptocurrency (a virtual currency that is protected from counterfeiting and theft by ...

Bitcoin is a cryptocurrency (a virtual currency that is protected from counterfeiting and theft by ...

[html]Bitcoin is a cryptocurrency (a virtual currency that is protected from counterfeiting and theft by computer code). Is Bitcoin an example of a fiat money?

▸ No, because Bitcoin is not guaranteed by the government

▸ Yes, because Bitcoin can be

theferpectstudent   413   1 Reply

HCho0

Deciding how a society's products are distributed among its citizens answers the economic question ...

Deciding how a society's products are distributed among its citizens answers the economic question ...

Deciding how a society's products are distributed among its citizens answers the economic question of
A) where will the products be consumed.
B) how will the products be produced.
C) who consumes the products produced.
D) wha

thanhha78   413   3 Replies

hanaa al harthy

The Fed increases the quantity of money to counteract

The Fed increases the quantity of money to counteract

The Fed increases the quantity of money to counteract
A) a recessionary gap.
B) a federal budget surplus.
C) negative net exports.
D) an inflationary gap.
E) inflation.

Loraine   413   1 Reply

Sydnie

By the 2000s, an important market change occurred when investment banks became significant participa

By the 2000s, an important market change occurred when investment banks became significant participa

By the 2000s, an important market change occurred when investment banks became significant participants in the secondary market for
A) mortgages.
B) Treasury securities.
C) corporate bonds.
D) currency.

Tidy   413   1 Reply

Sydnie

If federal taxes are cut by $10 billion, aggregate demand

If federal taxes are cut by $10 billion, aggregate demand

If federal taxes are cut by $10 billion, aggregate demand
A) increases by $10 billion.
B) increases by $10 billion multiplied by the government expenditure multiplier.
C) increases by $10 billion multiplied by the tax multiplier.

Loraine   413   2 Replies

Sydnie

After getting an A on your economics exam, you decide to go to your favorite Mexican restaurant to c

After getting an A on your economics exam, you decide to go to your favorite Mexican restaurant to c

After getting an A on your economics exam, you decide to go to your favorite Mexican restaurant to celebrate. You are having trouble deciding whether to order the chipotle chicken chimichanga or the cilantro seafood enchiladas. Use the rule of equal

Tidy   413   2 Replies

Chimelo46

All of the following statements about the United States are true EXCEPT:

All of the following statements about the United States are true EXCEPT:

All of the following statements about the United States are true EXCEPT:
A) The largest imports are services like royalties, license fees, and financial services, and the largest exports are goods like crude oil, automobiles, and clothing.

Loraine   413   1 Reply

VincenzoD

Assume that it is predicted that for the years after you graduate from college, the entire economy w

Assume that it is predicted that for the years after you graduate from college, the entire economy w

Assume that it is predicted that for the years after you graduate from college, the entire economy will experience a long period of recession during which people's incomes decrease. What type of industry would be the best for you to find employm

Loraine   413   2 Replies

Smoooth

Fill in the blanks: Transaction costs are likely to be ________ when property rights are ________ cl

Fill in the blanks: Transaction costs are likely to be ________ when property rights are ________ cl

Fill in the blanks: Transaction costs are likely to be ________ when property rights are ________ clearly defined.
A) lower ; less
B) higher; more
C) lower; more
D) Trick question: there is no causal relationship between transacti

Sublight2097   413   3 Replies

Dropx

As an economy grows, (Multiple Choice Question)

As an economy grows, (Multiple Choice Question)

As an economy grows,
A) its PPF shifts outward.
B) it can eliminate scarcity.
C) the opportunity cost of production will approach 0.
D) the opportunity cost of production will increase.
E) its PPF does not shift; instead, the

Loraine   413   2 Replies

Dropx

Canada is classified by the International Monetary Fund as

Canada is classified by the International Monetary Fund as

Canada is classified by the International Monetary Fund as
A) an advanced economy.
B) a developing economy.
C) a transition economy.
D) an emerging market economy.
E) a natural-resource based economy.

Loraine   413   2 Replies

Chimelo46