Economics

When an American college student in Davis, California spends $200 on a pair of Louis Vuitton jeans (

When an American college student in Davis, California spends $200 on a pair of Louis Vuitton jeans (

When an American college student in Davis, California spends $200 on a pair of Louis Vuitton jeans (a famous French brand), U.S. consumption ________, U.S. net exports ________, and U.S. GDP ________.   
A) does not change; increases

Loraine   1434   2 Replies

Katie Drake

When the price of a financial asset ________ its interest rate will ________.

When the price of a financial asset ________ its interest rate will ________.

When the price of a financial asset ________ its interest rate will ________.
A) rises; rise
B) falls; fall
C) falls; rise
D) rises; remain the same

Tidy   1431   1 Reply

Sydnie

Excalibur Ltd. began operations on October 1 of the current year. Its production requires that ...

Excalibur Ltd. began operations on October 1 of the current year. Its production requires that ...

Excalibur Ltd. began operations on October 1 of the current year. Its production requires that direct materials are added at the beginning of the process and conversion costs are incurred uniformly. Direct materials costs for October were $380,000 an

ruskin   1429   2 Replies

yolo435

Which of the following do not suffer the costs of inflation?

Which of the following do not suffer the costs of inflation?

Which of the following do not suffer the costs of inflation?
A) persons on fixed incomes
B) persons whose incomes rise more rapidly than inflation
C) firms that have to devote more time and labor to raising prices
D) an investor t

Tidy   1426   2 Replies

Chimelo46

The price of one bedroom apartments in Cheyenne increased from $55,000 to $65,000 and the quantity o

The price of one bedroom apartments in Cheyenne increased from $55,000 to $65,000 and the quantity o

The price of one bedroom apartments in Cheyenne increased from $55,000 to $65,000 and the quantity of apartment for sale increased from 25 to 30. Using the midpoint method, the price elasticity of supply for apartments in Cheyenne is equal to
A)

Loraine   1422   2 Replies

Smoooth

Suppose favorable weather resulted in a bumper crop of oranges in Florida. In the market for oranges

Suppose favorable weather resulted in a bumper crop of oranges in Florida. In the market for oranges

Suppose favorable weather resulted in a bumper crop of oranges in Florida. In the market for oranges
A) the supply curve shifted to the right resulting in a decrease in the equilibrium price.
B) the supply curve shifted to the right resulti

Tidy   1422   2 Replies

Smoooth

If economies of scale are relatively important in an industry, the typical firm's

If economies of scale are relatively important in an industry, the typical firm's

If economies of scale are relatively important in an industry, the typical firm's
A) marginal cost curve will decline continuously until it reaches minimum efficient scale.
B) long-run average cost curve will begin rising before it r

Tidy   1407   2 Replies

Chimelo46

The total willingness to pay for public restrooms in a city is given in the table below:Number of ...

The total willingness to pay for public restrooms in a city is given in the table below:Number of ...

The total willingness to pay for public restrooms in a city is given in the table below:

Number of Restrooms   Total willingness to pay
1   $208,000
2   $199,000
3   $150,000
4   $85,000

If the marginal cost of buildin

whipped   1405   1 Reply

lostein

For typical inputs other than land or superstars, input prices are

For typical inputs other than land or superstars, input prices are

For typical inputs other than land or superstars, input prices are
A) determined by supply only.
B) determined by demand only.
C) determined by output prices.
D) not based on productivity.
E) determined by supply and demand.

Tragamin   1405   11 Replies

Tauseef Ahmed

The graph shows the market for holiday condos in West Palm Beach. If a rent ceiling is set at $1,700

The graph shows the market for holiday condos in West Palm Beach. If a rent ceiling is set at $1,700

The graph shows the market for holiday condos in West Palm Beach. If a rent ceiling is set at $1,700 a week, the quantity of holiday condos rented
A) is 2,000 a week.
B) is 4,000 a week.
C) is 5,000 a week.
D) is some amount, but

Loraine   1399   2 Replies

griffyboy24

There are various ways for a country to organize payment for healthcare. Which approach is best from ...

There are various ways for a country to organize payment for healthcare. Which approach is best from ...

There are various ways for a country to organize payment for healthcare. Which approach is best from both a bottom line and a healthcare perspective?

 A.  Central insurance    
 B.  Private insurance    
 C.  Group ins

thefinals23   1396   2 Replies

thefinals23

Answer both parts of the following question. a.The San Francisco Chronicle reported that the toll ...

Answer both parts of the following question. a.The San Francisco Chronicle reported that the toll ...

Answer both parts of the following question.   

a.   The San Francisco Chronicle reported that the toll on the Golden Gate Bridge was raised from $2 to $3.  Following the toll increase, traffic fell by 5 percent.  Based on thi

corie   1390   1 Reply

LBCea

The natural resources used in production are made available in the

The natural resources used in production are made available in the

The natural resources used in production are made available in the
A) goods and services market.
B) product market.
C) government market.
D) factor market.

Tidy   1389   2 Replies

Smoooth

When you purchase a new pair of jeans you do so in the

When you purchase a new pair of jeans you do so in the

When you purchase a new pair of jeans you do so in the
A) factor market.
B) input market.
C) product market.
D) resource market.

Tidy   1387   2 Replies

Smoooth

You want to run a difference-in-difference experiment with a price increase for the bacon ...

You want to run a difference-in-difference experiment with a price increase for the bacon ...

You want to run a difference-in-difference experiment with a price increase for the bacon cheeseburger item on your menu. If you are worried about the representativeness with your control group, a poor comparison menu item would be
 a. soft dri

playmaker   1387   1 Reply

dfasdfa

When protection is encouraged to protect a growing domestic industry; which of the following is bein

When protection is encouraged to protect a growing domestic industry; which of the following is bein

When protection is encouraged to protect a growing domestic industry; which of the following is being used?
A) Save domestic jobs argument
B) National security argument
C) Anti-dumping argument
D) Infant-industry argument
E)

Loraine   1384   1 Reply

VincenzoD

Assume that two interior design companies, Alistair and Baine, are competing for customers and if th

Assume that two interior design companies, Alistair and Baine, are competing for customers and if th

Assume that two interior design companies, Alistair and Baine, are competing for customers and if they both advertise, they would each earn $30 million in profits. If neither advertises, they each earn $50 million in profits. If one advertises and th

12

Tidy   1383   22 Replies

Jai Brar

Potential GDP is estimated to grow at a rate of 3.2% in the United States. Actual GDP in the U.S.

Potential GDP is estimated to grow at a rate of 3.2% in the United States. Actual GDP in the U.S.

Potential GDP is estimated to grow at a rate of 3.2% in the United States. Actual GDP in the U.S.
A) always grows at a slower rate than potential GDP.
B) always grows at a faster rate than potential GDP.
C) always grows at the same rat

Tidy   1378   2 Replies

Smoooth

Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a result, ...

Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a result, ...

Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a result, demand decreases by 100 rubber ducks at each price. At the same time, input prices rise and supply decreases by 100 rubber ducks at each price. The ne

Tragamin   1375   3 Replies

bio_man

Workers expect inflation to fall from 4% to 1% next year. As a result, this should

Workers expect inflation to fall from 4% to 1% next year. As a result, this should

Workers expect inflation to fall from 4% to 1% next year. As a result, this should
A) shift the short-run aggregate supply curve to the left.
B) shift the short-run aggregate supply curve to the right.
C) move the economy up along a s

Tidy   1374   2 Replies

Smoooth

Suppose Julie plants a beautiful garden in her front yard. The benefits of the garden to Julie and t

Suppose Julie plants a beautiful garden in her front yard. The benefits of the garden to Julie and t

Suppose Julie plants a beautiful garden in her front yard. The benefits of the garden to Julie and to her neighbors equals the
A) external benefit.
B) marginal private benefit.
C) marginal external benefit.
D) marginal social bene

Loraine   1369   3 Replies

Christopher Carpenter

Supply curves for secondary supply resources (e.g., scrap metal) become:

Supply curves for secondary supply resources (e.g., scrap metal) become:

Supply curves for secondary supply resources (e.g., scrap metal) become:
A) Steeper in the short run
B) More elastic in the long run
C) Steeper in the long run
D) More inelastic in the short run

nakungth   1365   2 Replies

nakungth

Suppose the world price of widgets is $5 each. If a widget-importing country imposed a $2 per widget

Suppose the world price of widgets is $5 each. If a widget-importing country imposed a $2 per widget

Suppose the world price of widgets is $5 each. If a widget-importing country imposed a $2 per widget tariff, what price would that country's consumers pay for widgets?
A) $10
B) $7
C) $5
D) $3
E) A price that is greater

Loraine   1363   2 Replies

sadiesinkkkk

What is recent proposed use for many reservations

What is recent proposed use for many reservations

What is recent proposed use for many reservations

a299bjr   1361   N/A

a299bjr

Suppose your expenses for this term are as follows: tuition: $10,000, room and board: $6,000, books

Suppose your expenses for this term are as follows: tuition: $10,000, room and board: $6,000, books

Suppose your expenses for this term are as follows: tuition: $10,000, room and board: $6,000, books and other educational supplies: $1,000. Further, during the term, you can only work part-time and earn $8,000 instead of your full-time salary of $20,

Tidy   1358   4 Replies

Dropx

Which of the following is an important difference between government and privately-owned enterprises

Which of the following is an important difference between government and privately-owned enterprises

Which of the following is an important difference between government and privately-owned enterprises?
A) Government can distribute goods without employing discriminatory rationing criteria.
B) Government can more easily use negative incenti

Sublight2097   1357   4 Replies

heart13683

Harvey Rabbitt pays for monthly cable TV service. Last week the cable company informed Harvey that h

Harvey Rabbitt pays for monthly cable TV service. Last week the cable company informed Harvey that h

Harvey Rabbitt pays for monthly cable TV service. Last week the cable company informed Harvey that his monthly cable price would go down because the city council has granted approval for three new cable companies to service his area. How is the marke

Tidy   1349   2 Replies

Sydnie

If the market for bicycles is efficient, then

If the market for bicycles is efficient, then

If the market for bicycles is efficient, then
A) no more bicycles can be produced.
B) marginal benefit exceeds marginal cost.
C) consumer surplus must be greater than producer surplus.
D) it is not possible to produce more bicycle

Loraine   1348   1 Reply

Sydnie

Which of the following statements about the importance of trade to the U.S. economy is true?

Which of the following statements about the importance of trade to the U.S. economy is true?

Which of the following statements about the importance of trade to the U.S. economy is true?
A) Since 1950, both exports and imports have steadily decreased as a fraction of U.S. gross domestic product.
B) Overall, about 80 percent of U.S.

Tidy   1348   2 Replies

Abbey Dop

Suppose a positive technological change in the production of disease-resistant corn caused the price

Suppose a positive technological change in the production of disease-resistant corn caused the price

Suppose a positive technological change in the production of disease-resistant corn caused the price of corn to fall. Holding everything else constant, how would this affect the market for wheat (a substitute for corn)?
A) The supply of wheat wo

Tidy   1346   1 Reply

Sydnie

A new cure for Toenail fungus is discovered for individuals resistant to the original treatment. At ...

A new cure for Toenail fungus is discovered for individuals resistant to the original treatment. At ...

A new cure for Toenail fungus is discovered for individuals resistant to the original treatment. At this point the firm producing this drug
 a. Could be considered a monopoly
 b. Would be protected from entry by patents
 c. Would be f

jumer01   1344   12 Replies

Tyler Himes

Suppose a monopolistically competitive firm's output where marginal revenue equals marginal cost is

Suppose a monopolistically competitive firm's output where marginal revenue equals marginal cost is

Suppose a monopolistically competitive firm's output where marginal revenue equals marginal cost is 66 units and the price corresponding to this quantity is $18. If the average total cost at this output is $16.55, then its total profit is

Tidy   1341   1 Reply

VincenzoD

If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affe

If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affe

If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affected?
A) The quantity of chocolate they sell decreases because U.S. consumption of chocolate decreases.
B) The quantity of chocolate they pr

Loraine   1334   1 Reply

VincenzoD

All else equal, the decrease in consumer preference predicted by Apple for its i

All else equal, the decrease in consumer preference predicted by Apple for its i

All else equal, the decrease in consumer preference predicted by Apple for its iPhone 5 would be represented by a
      
shift the supply curve for iPhones to the right.
      
shift the supply curve for iPhones to the left.
      

oak   1334   1 Reply

bio_man

When Mik has an absolute advantage in the production of two goods over Tommy, Mik

When Mik has an absolute advantage in the production of two goods over Tommy, Mik

When Mik has an absolute advantage in the production of two goods over Tommy, Mik
A) is less productive than Tommy.
B) is better off if he does not engage in specialization and trade with Tommy.
C) is more productive in producing both

Loraine   1333   2 Replies

Dropx

"If Mexico is currently operating at a point inside its production possibilities frontier, then ther

"If Mexico is currently operating at a point inside its production possibilities frontier, then ther

"If Mexico is currently operating at a point inside its production possibilities frontier, then there are unemployed or misallocated resources in Mexico." Is this statement true or false? Briefly explain your answer.

Loraine   1330   2 Replies

Dropx

Hester owns an ice cream shop. It costs her $2 per cone to make 10 ice cream cones. If she sells 10

Hester owns an ice cream shop. It costs her $2 per cone to make 10 ice cream cones. If she sells 10

Hester owns an ice cream shop. It costs her $2 per cone to make 10 ice cream cones. If she sells 10 cones for $4 each, her producer surplus on the 10 cones is equal to
A) $2.
B) $20.
C) $10.
D) $40.
E) $4.

Loraine   1328   2 Replies

Sydnie

A fundamental assumption in game theory is that players do not interact with each other. (True or false?)

A fundamental assumption in game theory is that players do not interact with each other. (True or false?)

A fundamental assumption in game theory is that players do not interact with each other.
True or false?

Tidy   1328   2 Replies

Chimelo46

The unemployment rate is the

The unemployment rate is the

The unemployment rate is the
A) number of unemployed people.
B) percentage of the population that does not have a job.
C) percentage of the working-age population that does not have a job.
D) percentage of the labor force that do

Loraine   1323   2 Replies

Chimelo46

Suppose your expenses for this term are as follows: tuition: $9,000, room and board: $1,500, books a

Suppose your expenses for this term are as follows: tuition: $9,000, room and board: $1,500, books a

Suppose your expenses for this term are as follows: tuition: $9,000, room and board: $1,500, books and other educational supplies: $1,000. Further, during the term, you can only work part-time and earn $3,000 instead of your full-time salary of $8,00

Tidy   1322   3 Replies

Amanda Parker