Economics

Caroline has saved $100,000 for her retirement. She earned 4 percent interest on that money during t

Caroline has saved $100,000 for her retirement. She earned 4 percent interest on that money during t

Caroline has saved $100,000 for her retirement. She earned 4 percent interest on that money during the year 2013. If the inflation rate was 1 percent in 2013, what was Caroline's real interest rate?
A) $4,000
B) 4 percent
C) 3 per

Loraine   418   2 Replies

Chimelo46

Assume that the market for barley is in equilibrium and the demand for barley is inelastic. Predict

Assume that the market for barley is in equilibrium and the demand for barley is inelastic. Predict

Assume that the market for barley is in equilibrium and the demand for barley is inelastic. Predict what happens to the revenue of barley farmers if a prolonged drought reduces the supply of barley. The drought will cause farm revenue to
A) rise

Tidy   418   2 Replies

Smoooth

In the United States, the bulk of health care spending is paid by health insurance companies. Such a

In the United States, the bulk of health care spending is paid by health insurance companies. Such a

In the United States, the bulk of health care spending is paid by health insurance companies. Such a system is also called ________ where consumers of health care pay a nominal fee and the rest are paid by the health insurance provider.
A) univ

Tidy   418   2 Replies

Sydnie

Which of the following is not a component of the M1 money supply?

Which of the following is not a component of the M1 money supply?

Which of the following is not a component of the M1 money supply?
A) Cash in circulation
B) Gold owned by the federal authorities
C) Deposits in checking accounts
D) Any issued traveler's checks

Sublight2097   418   3 Replies

Andrew Crowder

If the number of companies producing memory chips increases, then the

If the number of companies producing memory chips increases, then the

If the number of companies producing memory chips increases, then the
A) supply of memory chips does not change.
B) supply of memory chips increases.
C) supply of memory chips decreases.
D) quantity of memory chips supplied increa

Loraine   418   2 Replies

Dropx

Suppose firms in Hong Kong can produce 40,000 plastic dolls or 80,000 squirt guns each week, while f

Suppose firms in Hong Kong can produce 40,000 plastic dolls or 80,000 squirt guns each week, while f

Suppose firms in Hong Kong can produce 40,000 plastic dolls or 80,000 squirt guns each week, while firms in Taiwan can produce 40,000 plastic dolls or 40,000 squirt guns each week. Therefore, when we compare the two groups:
A) the costs of produ

Sublight2097   418   4 Replies

Owen L

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   418   2 Replies

Chimelo46

________ earned the highest amount of income among the factors of production in the United States.

________ earned the highest amount of income among the factors of production in the United States.

________ earned the highest amount of income among the factors of production in the United States.
A) Labor
B) Capital
C) Land
D) Entrepreneurship
E) Investment

Loraine   418   2 Replies

Chimelo46

Suppose a firm's hourly marginal product of labor is given by MPN = A (200 - N).(a)If A = 0.2 and th

Suppose a firm's hourly marginal product of labor is given by MPN = A (200 - N).(a)If A = 0.2 and th

Suppose a firm's hourly marginal product of labor is given by MPN = A (200 - N).
(a)   If A = 0.2 and the real wage rate is $10 per hour, how much labor will the firm want to hire?
(b)   Suppose the real wage rate rises to $20 per hour. Ho

johnpaul92   419   4 Replies

LUQMAN BIN AWANG -

If the absolute value of the tax multiplier equals 1.6, real GDP is $13 trillion, and potential real

If the absolute value of the tax multiplier equals 1.6, real GDP is $13 trillion, and potential real

If the absolute value of the tax multiplier equals 1.6, real GDP is $13 trillion, and potential real GDP is $13.4 trillion, then taxes would need to be cut by ________ to restore the economy to potential real GDP.
A) $250 billion
B) $400 bi

Tidy   419   3 Replies

Jennifer Bunning

Monetarists think that the Fed should use ________ as a target when conducting monetary policy.

Monetarists think that the Fed should use ________ as a target when conducting monetary policy.

Monetarists think that the Fed should use ________ as a target when conducting monetary policy.
A) the money supply
B) the federal funds rate
C) the Treasury bill rate
D) the inflation rate
E) the unemployment rate

Tidy   419   1 Reply

Sydnie

Which of the following is not one of the ways that the German government ended the hyperinflation of

Which of the following is not one of the ways that the German government ended the hyperinflation of

Which of the following is not one of the ways that the German government ended the hyperinflation of the 1920s?
A) negotiating a new agreement with the Allies (the United States, Great Britain, France, and Italy) that reduced its reparations pay

Tidy   419   1 Reply

Sydnie

Which of the following would occur if the United States switched from income taxes to consumption ta

Which of the following would occur if the United States switched from income taxes to consumption ta

Which of the following would occur if the United States switched from income taxes to consumption taxes?
A) Consumption would increase.
B) The supply of loanable funds would decrease.
C) Saving would increase.
D) Tax revenues woul

Tidy   419   2 Replies

Smoooth

If a firm shuts down in the short run it will

If a firm shuts down in the short run it will

If a firm shuts down in the short run it will
A) break even.
B) declare bankruptcy.
C) suffer a loss equal to its variable costs.
D) suffer a loss equal to its fixed costs.

Tidy   419   1 Reply

Sydnie

Most people buy salt infrequently and in small quantities. Even a doubling of the price of salt is l

Most people buy salt infrequently and in small quantities. Even a doubling of the price of salt is l

Most people buy salt infrequently and in small quantities. Even a doubling of the price of salt is likely to result in a small decline in the quantity of salt demanded. Therefore
A) the demand for salt will be perfectly inelastic.
B) salt

Tidy   419   2 Replies

Chimelo46

A linear downward sloping demand curve has price elasticities (in absolute values) that

A linear downward sloping demand curve has price elasticities (in absolute values) that

A linear downward sloping demand curve has price elasticities (in absolute values) that
A) increase as price decreases.
B) remain constant along the demand curve.
C) decrease as price decreases.
D) are greater than or equal to 1.

Tidy   419   2 Replies

Chimelo46

When consumers pay only a fraction of the true cost of medical services, their demand increases. The

When consumers pay only a fraction of the true cost of medical services, their demand increases. The

When consumers pay only a fraction of the true cost of medical services, their demand increases. The marginal cost of producing these extra services
A) is greater than the marginal benefit consumers receive from them.
B) is less than the ma

Tidy   419   1 Reply

VincenzoD

People will tend to "internalize externalities" when

People will tend to "internalize externalities" when

People will tend to "internalize externalities" when
A) responsibility for the consequences of actions is more clearly assigned to the actors.
B) spillover costs and benefits become more common and widespread.
C) they calcula

Sublight2097   419   3 Replies

Smoooth

If the United States lifted the embargo on Cuban products, what would happen in the U.S. market for

If the United States lifted the embargo on Cuban products, what would happen in the U.S. market for

If the United States lifted the embargo on Cuban products, what would happen in the U.S. market for Cuban cigars?
A) The supply curve would shift to the left.
B) The supply curve would shift to the right.
C) The demand curve would shif

Tidy   419   2 Replies

Smoooth

A price searcher can move its marginal revenue curve closer to its demand curve if it can

A price searcher can move its marginal revenue curve closer to its demand curve if it can

A price searcher can move its marginal revenue curve closer to its demand curve if it can
A) achieve significant economies of scale.
B) charge different buyers different prices for the same good.
C) price at the point of unit demand el

Sublight2097   419   3 Replies

Smoooth

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   419   2 Replies

Smoooth

Suppose Gerald works for Lola as a production assistant. Gerald and Lola fall in love, get married a

Suppose Gerald works for Lola as a production assistant. Gerald and Lola fall in love, get married a

Suppose Gerald works for Lola as a production assistant. Gerald and Lola fall in love, get married and have children. Gerald stops working for Lola in order to care for the children. What will be the effect of this scenario on GDP?
A) GDP will i

Cuba   419   3 Replies

IloveChi

Which characteristic of a pure public good is linked to poorly-defined property rights? Explain your

Which characteristic of a pure public good is linked to poorly-defined property rights? Explain your

Which characteristic of a pure public good is linked to poorly-defined property rights? Explain your answer.

Cuba   419   3 Replies

IloveChi

A Sociology class is a substitute for an Economics class if

A Sociology class is a substitute for an Economics class if

A Sociology class is a substitute for an Economics class if
A) attending the two classes has the same opportunity cost.
B) the two classes satisfy the same want.
C) the tuition for the two classes is the same.
D) both classes are

Tragamin   420   1 Reply

Aryan

The following table displays the reservation values of 10 sellers and 10 buyers in a market for ...

The following table displays the reservation values of 10 sellers and 10 buyers in a market for ...

The following table displays the reservation values of 10 sellers and 10 buyers in a market for cameras where each individual wants to buy or sell one camera.

Buyers   Value ($)   Sellers   Value ($)
1   100   1   5
2   86   2   18
3   74   3   22

whipped   420   7 Replies

Nur Izzati Juhari

A disadvantage of ________made from precious metals is that it is very heavy and hard to transport f

A disadvantage of ________made from precious metals is that it is very heavy and hard to transport f

A disadvantage of ________made from precious metals is that it is very heavy and hard to transport from one place to another.
A) paper money
B) electronic money
C) commodity money
D) fiat money

valputin   420   3 Replies

Meela

The production function shows that as employment increases, real GDP

The production function shows that as employment increases, real GDP

The production function shows that as employment increases, real GDP
A) increases at an increasing rate.
B) increases at a decreasing rate.
C) increases at a constant rate.
D) decreases at a decreasing rate.
E) increases unti

Loraine   420   2 Replies

Smoooth

If a monopolist's marginal revenue is $35 per unit and its marginal cost is $25, then

If a monopolist's marginal revenue is $35 per unit and its marginal cost is $25, then

If a monopolist's marginal revenue is $35 per unit and its marginal cost is $25, then
A) to maximize profit the firm should increase output.
B) to maximize profit the firm should decrease output.
C) to maximize profit the firm sho

Tidy   420   1 Reply

VincenzoD

Jenna runs a small boutique in Capitola. She tells one of her suppliers that she is willing to pay $

Jenna runs a small boutique in Capitola. She tells one of her suppliers that she is willing to pay $

Jenna runs a small boutique in Capitola. She tells one of her suppliers that she is willing to pay $6 for a pair of wool hand warmers and not a dime more. On the basis of this information, what can you conclude about her price elasticity of demand fo

Tidy   420   2 Replies

Chimelo46

"Tariffs today in the United States are much higher than in the past." Is the previous statement cor

"Tariffs today in the United States are much higher than in the past." Is the previous statement cor

"Tariffs today in the United States are much higher than in the past." Is the previous statement correct or incorrect?

Loraine   420   1 Reply

VincenzoD

"Allocative efficiency in the production of cherries means that consumers can eat all of the cherrie

"Allocative efficiency in the production of cherries means that consumers can eat all of the cherrie

"Allocative efficiency in the production of cherries means that consumers can eat all of the cherries they desire." Is this statement true or false? Explain your answer.

Loraine   420   6 Replies

guanchenhan

Select the phrase that correctly completes the following statement. "A decrease in the number of man

Select the phrase that correctly completes the following statement. "A decrease in the number of man

Select the phrase that correctly completes the following statement. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a result
A) the price of sailboats increased and the demand for sailboats decrea

Tidy   420   2 Replies

Sydnie

From the perspective of economic theory, property rights are

From the perspective of economic theory, property rights are

From the perspective of economic theory, property rights are
A) human rights.
B) just as important as human rights.
C) less important than human rights.
D) more important than human rights.
E) usually in conflict with human r

Sublight2097   420   3 Replies

Smoooth

To find the opportunity cost of producing one more unit of any product while on the production possi

To find the opportunity cost of producing one more unit of any product while on the production possi

To find the opportunity cost of producing one more unit of any product while on the production possibilities frontier requires
A) setting the amounts of the two products equal to each other.
B) setting the change in one product equal to th

Loraine   420   2 Replies

Chimelo46

Macintosh and IBM computers are considered substitute goods. Other things constant, if IBM lowered i

Macintosh and IBM computers are considered substitute goods. Other things constant, if IBM lowered i

Macintosh and IBM computers are considered substitute goods. Other things constant, if IBM lowered its price, compared to the Mac, then
A) the demand for IBM computers would increase.
B) the demand for Mac computers would increase.
C)

Sublight2097   420   3 Replies

Chimelo46

Which consequence is least likely to follow from an increase in the price of gasoline?

Which consequence is least likely to follow from an increase in the price of gasoline?

Which consequence is least likely to follow from an increase in the price of gasoline?
A) Decreased demand for automobile tires
B) Decreased demand for gasoline
C) Increased demand for airline tickets
D) Increased demand for fuel-

Sublight2097   420   4 Replies

Drake Kalinowski

Which of the following statements about positive economic analysis is false?

Which of the following statements about positive economic analysis is false?

Which of the following statements about positive economic analysis is false?
A) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions.
B) There is much more disagreement among economists

Tidy   420   2 Replies

Chimelo46

Which of the following is a key question that must be addressed by an economy?

Which of the following is a key question that must be addressed by an economy?

Which of the following is a key question that must be addressed by an economy?
A) What will be made with our resources?
B) How much will we spend producing products?
C) Where will we produce our products?
D) When should we produce

Cuba   420   3 Replies

Sydnie

GDP minus final sales gives a measure of the:

GDP minus final sales gives a measure of the:

GDP minus final sales gives a measure of the:
A) value of intermediate goods.
B) non-residential investment.
C) change in business inventories.
D) GNP.

NYC   421   2 Replies

NYC

In general, the costs tariffs and quotas impose on consumers are

In general, the costs tariffs and quotas impose on consumers are

In general, the costs tariffs and quotas impose on consumers are
A) large in total but relatively small per person.
B) small in total but relatively large per person.
C) large in total and large per person.
D) small in total and s

Tidy   421   2 Replies

Sydnie