Economics

1. Winners and losers from free trade Consider the market for meekers in the ima

1. Winners and losers from free trade Consider the market for meekers in the imaginary economy of Meekerton. In the absence of international trade, the domestic price of meekers i…

1. With a Swedish Kroner, the likelihood of getting Heads when it is spun on edg

1. With a Swedish Kroner, the likelihood of getting Heads when it is spun on edge is 0.2. If X is the random variable where X(H)=1, X(T) = -1, find the expected value E(X), the va…

1. With trade, Jamaica a. imports 150 calculators b. imports 250 calculators c.

1. With trade, Jamaica a. imports 150 calculators b. imports 250 calculators c. exports 100 calculators d. exports 250 calculators 2. Consumer surplus in Jamaica without trade is …

1. Without an increase in price, an increase in demand will lead to... Question

1. Without an increase in price, an increase in demand will lead to... Question 1 options: a shortage a surplus socialism equilibrium 2. Judy demand more potatoes as her income de…

1. Workers in the country of Andalia can produce either 10 tons of cheese or 20

1. Workers in the country of Andalia can produce either 10 tons of cheese or 20 tons of yogurt using a certain quantity of resources. With this same quantity of resources, workers…

1. Workers who demand a wage that is equal to the equilibrium wage: Select one:

1. Workers who demand a wage that is equal to the equilibrium wage: Select one: a. Will find it difficult to secure a job. b. Will easily secure a job. c. Must belong to a union i…

1. Would a dynamic approach to taxation be more likely to lead to economic growt

1. Would a dynamic approach to taxation be more likely to lead to economic growth than the static approach in a country with a falling tax base? What about in a country with a gro…

1. Would it be possible for an increase in taxation to decrease the gross domest

1. Would it be possible for an increase in taxation to decrease the gross domestic product measured in the U.S.? Why or why not? 2. Adam's Ribs in downtown Chicago buys $10,000wor…

1. Would the U.S. economy be better off without government intervention in agric

1. Would the U.S. economy be better off without government intervention in agriculture? who would benefit? who would lose? 2. Are large price movements inevitable in argicultural …

1. XYZ Computer Company has a monopoly on the sale of a specialized color printe

1. XYZ Computer Company has a monopoly on the sale of a specialized color printer. If it sells two of these printers its total revenue is $1000, and if it sells three color printe…

1. XYZ Corporation is a manufacturer of widgets. Over the past several months, i

1. XYZ Corporation is a manufacturer of widgets. Over the past several months, it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month. Th…

1. Yamachi and Nadler has a gross income of $7.5 million for the year. The combi

1. Yamachi and Nadler has a gross income of $7.5 million for the year.  The combination of depreciation and operating expenses total $4.3 million for the year.  Calculate the comp…

1. You and a friend are in an Italian restaurant and the owner offers both of yo

1. You and a friend are in an Italian restaurant and the owner offers both of you an 8- slice pizza under the following conditions: each one of you must simultaneously announce ho…

1. You are a manager for a regional health system. Using an estimate of the pric

1. You are a manager for a regional health system. Using an estimate of the price elasticity of demand of -0.25, how much will ambulatory visits change if you raise prices by 5 pe…

1. You are a manager of AT & Tlong distance call. Your research department repor

1. You are a manager of AT & Tlong distance call. Your research department reports that demand for long distance call increases 4 percent due to 8 percent decrease in the pric…

1. You are advising a group of investors who are considering the purchase of a s

1. You are advising a group of investors who are considering the purchase of a shopping center complex. They would like to finance 75% of the purchase price. A loan has been offer…

1. You are an agent for a popular musician (take your pick, Taylor Swift, Beyonc

1. You are an agent for a popular musician (take your pick, Taylor Swift, Beyonce, Bruno Mars). You need to set ticket prices for concert with you can choose to sell anything belo…

1. You are appointed secretary of the treasury of a recently independent country

1. You are appointed secretary of the treasury of a recently independent country called Rugaria. The currency of Rugaria is the lav. The new nation began fiscal operations this ye…

1. You are asked to predict the economic future of a country with the following

1. You are asked to predict the economic future of a country with the following data: The long-run growth rate of potential output is 3% per year, velocity is constant, the money …

1. You are considering how much to study for your microeconomics exam at the end

1. You are considering how much to study for your microeconomics exam at the end of the week, but all you care about is your upcoming spring break trip to Florida. Fortunately, yo…

1. You are considering investing in a bond. Two opportunities present themselves

1.       You are considering investing in a bond.  Two opportunities present themselves: municipal (tax-exempt) and corporate (taxable). Assume you pay 40% tax on any earnings and…

1. You are considering investing in a bond. Two opportunities present themselves

1.       You are considering investing in a bond.  Two opportunities present themselves: municipal (tax-exempt) and corporate (taxable). Assume you pay 40% tax on any earnings and…

1. You are driving home from work, and get stuck in a traffic jam. You are consi

1. You are driving home from work, and get stuck in a traffic jam. You are considering turning off from your usual route home and taking a longer route that might have less traffi…

1. You are given a choice between receiving $30,000 three years from now (Plan A

1. You are given a choice between receiving $30,000 three years from now (Plan A) or $10,000 in each of the next three years (Plan B). If i = 5%, which plan do you prefer ? A.Plan…

1. You are given only three quarterly seasonal indices and quarterly seasonally

1. You are given only three quarterly seasonal indices and quarterly seasonally adjusted data for the entire year. What is the raw data value for Q4? Raw data is not adjusted for …

1. You are given the following data for your firm, which sells high-capacity vid

1.   You are given the following data for your firm, which sells high-capacity video MP3 players. Q P TC 0 $1,000 $1,500 2 $960 $2,568 4 $920 $3,660 6 $880 $4,824 8 $840 $6,108 10…

1. You are given the following information about the amount your company can pro

1. You are given the following information about the amount your company can produce per day given the number of workers it hires. Numbers of Workers Quantity Produced 0 0 1 1 2 3…

1. You are given the following information about the amount your company can pro

1. You are given the following information about the amount your company can produce per day given the number of workers it hires. Numbers of Workers Quantity Produced 0 0 1 1 2 3…

1. You are one of Lady Gaga\'s little monsters (a fan), yet you do not own her m

1. You are one of Lady Gaga's little monsters (a fan), yet you do not own her most popular album, The Fame. However, since you have seen so many of her live performances, you have…

1. You are operating a firm in a perfectly competitive market. In the short run,

1. You are operating a firm in a perfectly competitive market. In the short run, you have fixed costs of $30. Your variable costs are given in the following table: Complete the fo…

1. You are producing and selling Good X. The income elasticity of demand for you

1. You are producing and selling Good X. The income elasticity of demand for your product equals – 0.125 and the cross (Good Y) price elasticity of demand for your good is – 12.50…

1. You are running a company that is owned by stockholders. Your goal is to maxi

1. You are running a company that is owned by stockholders. Your goal is to maximize shareholder value. Explain how each of the following events is likely to affect shareholder va…

1. You are running a company that is owned by stockholders. Your goal is to maxi

1. You are running a company that is owned by stockholders. Your goal is to maximize shareholder value. Explain how each of the following events is likely to affect shareholder va…

1. You are the CEO of a company that sells ink. You are told that the own price

1. You are the CEO of a company that sells ink. You are told that the own price elasticity of demand for your ink at the price you currently charge is 0.5. What does this mean? A.…

1. You are the Human Resources Director for a telemarketing firm that provides c

1.    You are the Human Resources Director for a telemarketing firm that provides customer-care services for several contracted companies. Last year, you implemented a new trainin…

1. You are the manager of a New Orleans Cruises line providing service between S

1. You are the manager of a New Orleans Cruises line providing service between St. Croix and Puerto Rico. New Orleans Cruises’ two 700 guest ships offer an extraordinary service, …

1. You are the manager of the surgery department at a hospital which serves most

1. You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditiona…

1. You are the newly appointed Senior Director of Marketing at the Sweet & Stick

1. You are the newly appointed Senior Director of Marketing at the Sweet & Sticky Candy Company, which manufactures a variety of chocolate candy bars sold in retail stores. On…

1. You borrow $10,000 from a bank. The loan is with 12% compounded monthly You h

1. You borrow $10,000 from a bank. The loan is with 12% compounded monthly You have 2 years to pay back the loan. a. What is the nominal interest rate? b. What is the effective in…

1. You currently have AED40,000 and plans to purchase a 5-year certificate of de

1. You currently have AED40,000 and plans to purchase a 5-year certificate of deposit (CD). a. How much will you have when the CD matures if it pays 7% interest, compounded annual…

1. You deposit $1,000 in a commercial bank. The bank is required to hold 10% of

1. You deposit $1,000 in a commercial bank. The bank is required to hold 10% of all deposits on reserve at the regional Federal Reserve Bank. If the bank has no excess reserves pr…

1. You have $100 to invest and are considering both U.S. government bonds and Fr

1. You have $100 to invest and are considering both U.S. government bonds and French bonds that bonds is 2%. The current exchange rate is $1.20 / € 1.00; in one year it is expecte…

1. You have $1000 in currency that you\'ve had in a desk drawer for a year. You

1. You have $1000 in currency that you've had in a desk drawer for a year. You take that currency to the bank and deposit it into your checking account. Assume the money stays in …

1. You have 200 shares of preferred stock in Phantom Casino, Inc. The stock pays

1. You have 200 shares of preferred stock in Phantom Casino, Inc. The stock pays $60 per share as dividend in perpetuity and the current interest rate is 5.25%. What is the presen…

1. You have acquired an option to buy Swiss francs at a strike price of $.70 per

1. You have acquired an option to buy Swiss francs at a strike price of $.70 per Swiss franc. (At the time you bought the contract, the spot exchange rate was only $.50 per Swiss …

1. You have already purchased (non-refundable and unsellable) tickets to a conce

1. You have already purchased (non-refundable and unsellable) tickets to a concert on Friday night. A friend also invites you to her birthday party on Friday. While you like your …

1. You have been hired by the Liquor Barn to make beer purchase for Liquor Barn

1. You have been hired by the Liquor Barn to make beer purchase for Liquor Barn stores in Kentucky. Suppose you find that the income elasticity of demand (Y) for Pabst Blue Ribbon…

1. You have been hired by the town of Bedford, Ohio, to conduct an analysis of o

1. You have been hired by the town of Bedford, Ohio, to conduct an analysis of ongoing operations by a local Coca Cola bottler. A study by the Ohio Environmental Protection Agency…

1. You have decided that for Halloween you wanted to dress up as a Pumpkin. You

1. You have decided that for Halloween you wanted to dress up as a Pumpkin. You estimated that it would cost $80 to purchase all the pieced of the costume. After spending $ 40 on …

1. You have just become the director of the Institute for Economic Development a

1. You have just become the director of the Institute for Economic Development and Entrepreneurship which is an outreach program for the local regional university. The university …