Economics

1. Which of the following is true? a) A monopoly firm is a price-maker. b) MR =

1. Which of the following is true?    a)    A monopoly firm is a price-maker.    b)    MR = P if the demand curve is downward sloping.    c)    MR = MC is a profit-maximizing rule…

1. Which of the following is true? a) To tackle inflation, the Fed sells treasur

1.  Which of the following is true? a) To tackle inflation, the Fed sells treasury bills, thereby decreases the money supply. b) To tackle inflation the Fed purchases treasury bil…

1. Which of the following is true? a. The FDIC sets the reserve requirements for

1. Which of the following is true? a. The FDIC sets the reserve requirements for commercial banks. b. The Federal Reserve System guarantees the deposits in almost allbanks up to a…

1. Which of the following is/are TRUE regarding monopolistic competition? I. few

1. Which of the following is/are TRUE regarding monopolistic competition? I. few sellers II. free entry III. product differentiation A) III only B) I and III only (incorrect answe…

1. Which of the following is/are TRUE? I. A monopolistic competitive firm sets p

1. Which of the following is/are TRUE? I. A monopolistic competitive firm sets price > MC. II. A monopolistic competitive firm sets price = MC. III. A monopolistic competitive …

1. Which of the following likely provides the most support for the oligopolistic

1. Which of the following likely provides the most support for the oligopolistic nature of the breakfast cereal industry? 1) economies of scale 2) zoning regulations 3) import dut…

1. Which of the following market types has only a few competing firms? A.monopol

1. Which of the following market types has only a few competing firms? A.monopoly B.monopolistic competition C.perfect competition D.oligopoly E.perfect competition and monopolist…

1. Which of the following most accurately characterizes the method used to calcu

1. Which of the following most accurately characterizes the method used to calculate inflation? Researchers observe the interest rate at two points in time and infer the rate of i…

1. Which of the following observations would be consistent with a price floor in

1. Which of the following observations would be consistent with a price floor in a market? A. A smaller quantity of the good is bought and sold after the price floor becomes effec…

1. Which of the following powers is NOT explicitly given to Congress by the Cons

1. Which of the following powers is NOT explicitly given to Congress by the Constitution? a. the power to impeach the President b. the power to regulate commerce among the states …

1. Which of the following provides a correct definition of aggregate supply? a)

1.         Which of the following provides a correct definition of aggregate supply? a)         Aggregate supply is the quantity of domestic product that is supplied at each possi…

1. Which of the following questions is a type that tools of econometrics are mea

1. Which of the following questions is a type that tools of econometrics are meant to answer? a. If an income increase causes the sales of good A to fall, everything else held con…

1. Which of the following represent reasons for a potentially beneficial role of

1. Which of the following represent reasons for a potentially beneficial role of government discussed in the text? Instructions: Select all that apply.    Preventing restraints on…

1. Which of the following represents the efficient amount of pollution reduction

1. Which of the following represents the efficient amount of pollution reduction given the marginal benefits (in EOC 13.12) and the marginal costs (in EOC 13.13) of pollution redu…

1. Which of the following scenarios illustrates the best example of managing con

1. Which of the following scenarios illustrates the best example of managing context? A. Promoting a biller to supervisor because of his or her excellent managerial skills B. An e…

1. Which of the following statements about financial instruments and money is NO

1. Which of the following statements about financial instruments and money is NOT correct? 2. Which of the following statements is true? 3. When money functions as a store of valu…

1. Which of the following statements about the risk involved in buying a franchi

1. Which of the following statements about the risk involved in buying a franchise is correct? Buying a franchise can dramatically increase the risk of failure. Buying a franchise…

1. Which of the following statements is CORRECT? a. If you add enough randomly s

1. Which of the following statements is CORRECT? a. If you add enough randomly selected stocks to a portfolio, you can completely eliminate all of the market risk from the portfol…

1. Which of the following statements is CORRECT? a. If you add enough randomly s

1. Which of the following statements is CORRECT? a. If you add enough randomly selected stocks to a portfolio, you can completely eliminate all of the market risk from the portfol…

1. Which of the following statements is FALSE? A) AC = TC/Q B) A firm that produ

1. Which of the following statements is FALSE? A) AC = TC/Q B) A firm that produces 100 units at a total cost of $500 has an average cost of $5 per unit. C) Firms will earn positi…

1. Which of the following statements is NOT correct? - Information plays an impo

1. Which of the following statements is NOT correct? - Information plays an important role in the economy. - Asymmetric information may lead to the disappearance of a market. - It…

1. Which of the following statements is TRUE of Behavioral Economics? Its purpos

1. Which of the following statements is TRUE of Behavioral Economics? Its purpose is to replace orthodox economics b. a. It asserts that people are System 2 thinkers and decision …

1. Which of the following statements is TRUE? A. To maximize profits, monopolist

1. Which of the following statements is TRUE? A. To maximize profits, monopolists with always set a higher price in markets with more inelastic demand curves. B. Monopolists typic…

1. Which of the following statements is correct ? a. Real GDP is the total marke

1.   Which of the following statements is correct?       a. Real GDP is the total market value of the final goods and            services produced in America for sale in a year va…

1. Which of the following statements is correct for a firm that can price-discri

1. Which of the following statements is correct for a firm that can price-discriminate?    a)    It should adjust prices so that customers with price-inelastic demand pay higher p…

1. Which of the following statements is correct for a firm that can price-discri

1. Which of the following statements is correct for a firm that can price-discriminate?    a)    It should adjust prices so that customers with price-inelastic demand pay higher p…

1. Which of the following statements is correct? A) In the long run, a firm can

1. Which of the following statements is correct? A) In the long run, a firm can change its plant but not the quantity of its labor. B) Long-run decisions are easily reversed. C) S…

1. Which of the following statements is correct? a. A constant rate of increase

1. Which of the following statements is correct? a. A constant rate of increase in the price level, P, will lead to a continuous rise in the nominal interest rate,i. b. A continuo…

1. Which of the following statements is false? a. A monoposonist faces an upward

1. Which of the following statements is false? a. A monoposonist faces an upward sloping supply curve. b. The monopsonist earns a profit because it pays its workers less than thei…

1. Which of the following statements is false? a. Monopsony firms have a wage gr

1. Which of the following statements is false? a. Monopsony firms have a wage greater than the marginal labour cost because they face upward- sloping labour supply curves. b. Mono…

1. Which of the following statements is most likely to be true? A.GDP considers

1. Which of the following statements is most likely to be true? A.GDP considers the value of all the goods and services produced by citizens of a country, on its land or on foreig…

1. Which of the following statements is true about supply? a. There is an invers

1. Which of the following statements is true about supply? a. There is an inverse relationship between price and quantity supplied. b. Supply refers to the amount of inventory tha…

1. Which of the following statements is true about the Great Depression? a. The

1. Which of the following statements is true about the Great Depression? a. The fall in the short-run aggregate supply at the start of the Great Depression began with the collapse…

1. Which of the following statements is true? Price (S) 20 18 14 MC 12 10 8 10 Q

1. Which of the following statements is true? Price (S) 20 18 14 MC 12 10 8 10 Quantity (100s) 3.54 I. If the firm is producing 5 units of output, it should expand output to incre…

1. Which of the following statements is true? Price (S) 20 18 16 14 12 10 MC MR

1. Which of the following statements is true? Price (S) 20 18 16 14 12 10 MC MR 8 10 Quantity (100s) 3.54 I. If the firm is producing 5 units of output, it should expand output to…

1. Which of the following statements is/are consistent with publicly traded comp

1. Which of the following statements is/are consistent with publicly traded companies? a.) there is a separation of ownership from control b.) shareholders may incur monitoring co…

1. Which of the following statistics is usually regarded as the best single meas

1. Which of the following statistics is usually regarded as the best single measure of a society's economic well-being? a. the unemployment rate b. the inflation rate c. gross dom…

1. Which of the following transactions does not take place in the markets for fa

1. Which of the following transactions does not take place in the markets for factors of production in the circular-flow diagram? A city leases land for their carnival from the la…

1. Which of the following was a landmark for major growth in international trade

1. Which of the following was a landmark for major growth in international trade and investment? a) the establishment of NATO b) the establishment of NAFTA c) the establishment of…

1. Which of the following will NOT causean increase in demand for good X? (Point

1. Which of the following will NOT causean increase in demand for good X? (Points: 1)        a decrease in income ifgood X is an inferior good        an increase in income ifgood …

1. Which of the following will cause a reduction in output per worker in the lon

1. Which of the following will cause a reduction in output per worker in the long run? capital accumulation or technological progress O capital accumulation an increase in the num…

1. Which of the following will cause an increase in the steady-state growth rate

1. Which of the following will cause an increase in the steady-state growth rate of capital? C an increase in the saving rate an increase in the population growth rate a temporary…

1. Which of the following will cause the aggregate demand curve to shift to the

  1.       Which of the following will cause the aggregate demand curve to shift to the left?             A.        a reduction in interest rates             B.        An expansio…

1. Which of the following will increase the 4-firm A. a horizontal merger betwee

1. Which of the following will increase the 4-firm A. a horizontal merger between two of the ind largest firms. between one of an industry's largest firms and one of the many inpu…

1. Which of the following will increase the breakeven quantity? a. A decrease in

1. Which of the following will increase the breakeven quantity? a. A decrease in overall fixed costs b. A decrease in the marginal costs c. A decrease in the price level d. A incr…

1. Which of the following will tend to decrease the excess reservesof the commer

1. Which of the following will tend to decrease the excess reservesof the commercial banking system? a. The central bank buys bonds from the public. b. The central bank sells bond…

1. Which of the following would be a fixed input to an automobile firm? A)Steel

1. Which of the following would be a fixed input to an automobile firm? A)Steel B)A factory in Detroit C)Car batteries D)Engineers 2. In economics, how long is the long run? A)Mor…

1. Which of the following would be an indication that a nation has a balance of

1. Which of the following would be an indication that a nation has a balance of payments deficit? A. Its holdings of official reserves are declining. B. It is borrowing abroad to …

1. Which of the following would be considered an export for Bulgaria? A German i

1. Which of the following would be considered an export for Bulgaria? A German investor getting interest payments on bonds issued by a Bulgarian firm B. Bulgarian citizens traveli…

1. Which of the following would both make the interest rate on a bond higher tha

1. Which of the following would both make the interest rate on a bond higher than otherwise? 2 . You have a contract with someone who has agreed to pay you $20,000 in four years. …