Economics

If the baseball team can sell 6000 box-seat tickets when they set the price at $10 and 7000 box-seat

If the baseball team can sell 6000 box-seat tickets when they set the price at $10 and 7000 box-seat

If the baseball team can sell 6000 box-seat tickets when they set the price at $10 and 7000 box-seat tickets when they lower the price to $8, the marginal revenue per ticket between 6000 and 7000 tickets is
A) $60,000.
B) $56,000.
C) $

Sublight2097   421   2 Replies

Sublight2097

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   421   3 Replies

Smoooth

If a 10 percent price increase generates a 10 percent decrease in quantity demanded, then demand isA

If a 10 percent price increase generates a 10 percent decrease in quantity demanded, then demand isA

If a 10 percent price increase generates a 10 percent decrease in quantity demanded, then demand is
A) unit elastic.
B) elastic.
C) perfectly inelastic.
D) perfectly elastic.
E) inelastic.

Loraine   421   2 Replies

Chimelo46

________ exists because unlimited wants exceed the limited resources available to fulfill those want

________ exists because unlimited wants exceed the limited resources available to fulfill those want

________ exists because unlimited wants exceed the limited resources available to fulfill those wants.
A) Scarcity
B) Productive efficiency
C) The command economy
D) Economic growth

Tidy   421   2 Replies

Dropx

The high-school dropout rate usually declines in an economic recession because

The high-school dropout rate usually declines in an economic recession because

The high-school dropout rate usually declines in an economic recession because
A) a decline in job opportunities lowers the opportunity cost of remaining in high school.
B) high schools begin to offer more practical and relevant courses.

Sublight2097   421   4 Replies

Randi Wampler

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   421   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   421   4 Replies

Drake Kalinowski

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   421   3 Replies

IloveChi

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   421   3 Replies

Sydnie

Which of the following is the best example of a tariff? a $150 fee imposed on all imported residen

Which of the following is the best example of a tariff? a $150 fee imposed on all imported residen

Which of the following is the best example of a tariff?
   a $150 fee imposed on all imported residential air conditioners
   a tax placed on all residential air conditioners sold in the domestic market to help offset the impact of

jessikha1   422   1 Reply

cloveb

The velocity of money is the ratio of ________ to ________.

The velocity of money is the ratio of ________ to ________.

The velocity of money is the ratio of ________ to ________.
A) real GDP; the money demand
B) consumption; investment
C) the money supply; the asset demand for money
D) nominal GDP; the stock of money

NYC   422   2 Replies

NYC

Costs that cannot be avoided, because they have already been incurred are known as:

Costs that cannot be avoided, because they have already been incurred are known as:

Costs that cannot be avoided, because they have already been incurred are known as:
A) marginal costs.
B) sunk costs.
C) differential costs.
D) opportunity costs.

NYC   422   2 Replies

NYC

A recession tends to cause the federal budget deficit to ________ because tax revenues ________ and

A recession tends to cause the federal budget deficit to ________ because tax revenues ________ and

A recession tends to cause the federal budget deficit to ________ because tax revenues ________ and government spending on transfer payments ________.
A) increase; rise; falls
B) increase; fall; rises
C) decrease; rise; falls
D) d

Tidy   422   1 Reply

Sydnie

Which of the following is one reason for the decline in aggregate demand that led to the recession o

Which of the following is one reason for the decline in aggregate demand that led to the recession o

Which of the following is one reason for the decline in aggregate demand that led to the recession of 2007-2009?
A) falling oil prices
B) an increase in net exports
C) the end of the housing bubble
D) a decline in government spend

Tidy   422   1 Reply

Sydnie

The following government policies will help achieve faster economic growth EXCEPT

The following government policies will help achieve faster economic growth EXCEPT

The following government policies will help achieve faster economic growth EXCEPT
A) discouraging saving and encouraging spending.
B) encouraging research and development.
C) establishing and protecting property rights.
D) improvi

Loraine   422   3 Replies

Selena Villa

An increase in unemployment benefits ________ and an increase in international competition that chan

An increase in unemployment benefits ________ and an increase in international competition that chan

An increase in unemployment benefits ________ and an increase in international competition that changes the location of jobs ________.
A) increases structural unemployment; decreases frictional unemployment
B) decreases structural unemploym

Loraine   422   2 Replies

Chimelo46

During 2009, General Motors announced that it would close its Saturn facilities in the United States

During 2009, General Motors announced that it would close its Saturn facilities in the United States

During 2009, General Motors announced that it would close its Saturn facilities in the United States because of the foreign competition it faced. This corporate move
A) increased structural unemployment.
B) increased avoidable unemployment.

Loraine   422   2 Replies

Chimelo46

Debbie makes porcelain plates in her home and sells them to the Opus gallery. She spent $400 last mo

Debbie makes porcelain plates in her home and sells them to the Opus gallery. She spent $400 last mo

Debbie makes porcelain plates in her home and sells them to the Opus gallery. She spent $400 last month on supplies and made 50 plates. She sold the plates to the gallery at $25 per plate. The gallery sells all the plates for $40 each. For all of the

Tidy   422   2 Replies

Chimelo46

Consider a manufacturing operation that uses specialized machinery and labor to produce its output.

Consider a manufacturing operation that uses specialized machinery and labor to produce its output.

Consider a manufacturing operation that uses specialized machinery and labor to produce its output. In this case, the input that is not fixed in the short run is labor.
True or false?

Tidy   422   2 Replies

Smoooth

What is the national security argument to support protection from international trade?

What is the national security argument to support protection from international trade?

What is the national security argument to support protection from international trade?
A) Domestic firms must be protected until they gain a comparative advantage.
B) Any firm necessary in wartime must be protected.
C) Foreign produce

Loraine   422   1 Reply

VincenzoD

Fill in the blanks: The percentage of American families with incomes below the poverty line was ____

Fill in the blanks: The percentage of American families with incomes below the poverty line was ____

Fill in the blanks: The percentage of American families with incomes below the poverty line was ________ in 1960 and ________ in 2010.
A) 10.1%; 10.7%
B) 8.7%; 13.9%
C) 18.1%; 11.8%
D) 26.8%; 48.3%

Sublight2097   422   3 Replies

Sydnie

The demand for government regulation of sellers most often originates with

The demand for government regulation of sellers most often originates with

The demand for government regulation of sellers most often originates with
A) consumers.
B) economists.
C) politicians.
D) sellers.

Sublight2097   422   3 Replies

Sydnie

The measure used to determine whether two products are complements or substitutes is called the

The measure used to determine whether two products are complements or substitutes is called the

The measure used to determine whether two products are complements or substitutes is called the
A) price elasticity of supply.
B) cross elasticity of demand.
C) price elasticity of demand.
D) income elasticity.
E) substitute

Loraine   422   2 Replies

Smoooth

Technological advances have resulted in lower prices for digital cameras. What is the impact of this

Technological advances have resulted in lower prices for digital cameras. What is the impact of this

Technological advances have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional (non-digital) cameras?
A) The demand curve for traditional cameras shifts to the right.
B) The supply curve f

Tidy   422   2 Replies

Smoooth

Which of the following is an example of spending on factors of production in the circular flow model

Which of the following is an example of spending on factors of production in the circular flow model

Which of the following is an example of spending on factors of production in the circular flow model?
A) Carolina has her nails done before her 20th high school class reunion.
B) Giorgio buys snow cones for his youth soccer team after each

Tidy   422   2 Replies

Smoooth

If the price of iPods decreases,

If the price of iPods decreases,

If the price of iPods decreases,
A) there will be a movement down along the supply curve for iPods.
B) there will be a rightward shift in the iPod supply curve.
C) there will be a movement up along the supply curve for iPods.
D) t

Loraine   422   2 Replies

Dropx

Soda and peanuts are complements. Other influences on buying plans remaining the same, a rise in the

Soda and peanuts are complements. Other influences on buying plans remaining the same, a rise in the

Soda and peanuts are complements. Other influences on buying plans remaining the same, a rise in the price of soda
A) increases the demand for peanuts.
B) decreases the demand for peanuts.
C) decreases the demand for soda.
D) incr

Loraine   422   2 Replies

Dropx

The opportunity cost to a cab driver of taking the day off increases when

The opportunity cost to a cab driver of taking the day off increases when

The opportunity cost to a cab driver of taking the day off increases when
A) it rains.
B) more cabs enter the business.
C) the price of gasoline rises.
D) the weather is so pleasant everyone prefers to walk.
E) many other cab

Sublight2097   422   3 Replies

Dropx

Which markets are depicted in the basic circular flow model?

Which markets are depicted in the basic circular flow model?

Which markets are depicted in the basic circular flow model?
A) the goods market and the stock market
B) the factor market and the bond market
C) the goods market and the factor market
D) the money market and the foreign exchange

Loraine   422   2 Replies

Chimelo46

Harry and Gus fish the same lake together from the same boat. Each morning Harry typically catches e

Harry and Gus fish the same lake together from the same boat. Each morning Harry typically catches e

Harry and Gus fish the same lake together from the same boat. Each morning Harry typically catches either 20 bluegills or 5 walleyes (depending on how deep he fishes) while Gus typically catches either 20 bluegills or 2 walleyes (depending on how dee

Sublight2097   422   3 Replies

Chimelo46

If it costs Hobie $900 to produce 5 lamps and $1,200 to produce 6 lamps, then the difference of $300

If it costs Hobie $900 to produce 5 lamps and $1,200 to produce 6 lamps, then the difference of $300

If it costs Hobie $900 to produce 5 lamps and $1,200 to produce 6 lamps, then the difference of $300 is the marginal cost of producing the 5th lamp.
True or false?

Tidy   422   2 Replies

Chimelo46

Campaign Printing has two service departments, S1 and S2, and two production departments, P1 and P2. ...

Campaign Printing has two service departments, S1 and S2, and two production departments, P1 and P2. ...

Campaign Printing has two service departments, S1 and S2, and two production departments, P1 and P2. The data for April were as follows:

   Dept.      Provided to:             
From:   Costs   S1    S2    P1    P2
S

StormLrd   423   5 Replies

Dexter Palmerola

Randy's Production Company uses a single cost pool for fixed manufacturing overhead. The amount for ...

Randy's Production Company uses a single cost pool for fixed manufacturing overhead. The amount for ...

Randy's Production Company uses a single cost pool for fixed manufacturing overhead. The amount for May 2015 was budgeted at $250,000; however, the actual amount was $350,000. Actual production for May was 12,500 units, and actual machine hours

ashly138   423   3 Replies

esther mwikali

In which of the following examples cited in the text is there the least amount of evidence of the ...

In which of the following examples cited in the text is there the least amount of evidence of the ...

In which of the following examples cited in the text is there the least amount of evidence of the potential for input substitution?
A) Automobile production.
B) Pipe organ production.
C) French fry production.
D) Production of

hiusy98   423   2 Replies

hiusy98

Which theory best explains the wealth inequalities amongst nations?

Which theory best explains the wealth inequalities amongst nations?

Which theory best explains the wealth inequalities amongst nations?
A) factors outside of any human control
B) levels of corruption
C) government institutions
D) natural selection
E) weather

Chako   423   3 Replies

machukian

In the country of Kaboom, the government doubled the money supply overnight. As a result of this act

In the country of Kaboom, the government doubled the money supply overnight. As a result of this act

In the country of Kaboom, the government doubled the money supply overnight. As a result of this action, the price of a gallon of milk increased from 3 Kaboomian dollars to 200 Kaboomian dollars. This is an example of:
A) currency debasement.

NYC   423   3 Replies

thalia123

The three categories of federal government expenditures, in addition to government purchases, are

The three categories of federal government expenditures, in addition to government purchases, are

The three categories of federal government expenditures, in addition to government purchases, are
A) interest on the national debt, grants to state and local governments, and transfer payments.
B) interest on the national debt, defense spen

Tidy   423   1 Reply

Sydnie

A financial asset is considered ________ if it can be sold in a secondary market.

A financial asset is considered ________ if it can be sold in a secondary market.

A financial asset is considered ________ if it can be sold in a secondary market.
A) a commodity
B) a security
C) a liability
D) durable

Tidy   423   1 Reply

Sydnie

To reassure investors who were unwilling to buy mortgages in the secondary market, the U.S. Congress

To reassure investors who were unwilling to buy mortgages in the secondary market, the U.S. Congress

To reassure investors who were unwilling to buy mortgages in the secondary market, the U.S. Congress used two government sponsored enterprises, Fannie Mae and Freddie Mac, to stand between investors and banks that grant mortgages. Fannie Mae and Fred

Tidy   423   2 Replies

Sydnie

List three different price indices and explain how they differ in terms of the market basket on whic

List three different price indices and explain how they differ in terms of the market basket on whic

List three different price indices and explain how they differ in terms of the market basket on which they are based.

Tidy   423   2 Replies

Chimelo46