Economics

1. i) GianCarlo used to work as an architect for $50,000 per year but quit in or

1. i) GianCarlo used to work as an architect for $50,000 per year but quit in order to start his own photography business. To invest in his photography business, he withdrew $20,0…

1. if a profit maximizing monopolist can perfectly price discriminate, the level

1. if a profit maximizing monopolist can perfectly price discriminate, the level of output it chooses is allocatively efficient (true or false)? 2. Standard economic theory sugges…

1. if seignior age is $4b, the current deficit is $30b, the structural deficit i

1. if seignior age is $4b, the current deficit is $30b, the structural deficit is $10b, the money supply is $600b, the publicly held national debt is $400b, real growth is 2%, and…

1. if the government attempts to break up a natural monopoly to enforce competit

1. if the government attempts to break up a natural monopoly to enforce competition in an industry A. the average cost of producing the good will increase B. the smallest firm wil…

1. income of western European countries is 75% in US level, however, western Eur

1. income of western European countries is 75% in US level, however, western European countries tend to work less, high life expectancy. so, western European countries have simila…

1. keynesian economists believe that a) the long run is more important than the

1. keynesian economists believe that a) the long run is more important than the short run b) prices are flexible c)savings is crucial to growth d) more focus shpuld be placed on a…

1. ldentify whether the market demand or supply curve will shift right or left o

1. ldentify whether the market demand or supply curve will shift right or left or will stay the same in the following the cases a. Firms in an industry are required to pay a fine …

1. make a list of thing and explain that would shift the aggregate demand curve

1. make a list of thing and explain that would shift the aggregate demand curve to the right. 2. supposed that a country has 120 billion of nation savings, and 80 billion of domes…

1. more / less 2. higher / lower Thanks. Suppose two parties agree that the expe

1. more / less 2. higher / lower Thanks. Suppose two parties agree that the expected inflation rate for the next year is 3 percent. Based on this, they enter into a loan agreement…

1. multiplicative demand function of the form: Qd = aPb1Yb2Pob3 is estimated usi

1. multiplicative demand function of the form: Qd = aPb1Yb2Pob3 is estimated using cross-sectional data and 224 observations. The regression results were as follows: Constant (a) …

1. oprah just inherited a house with a market value of 150,000 and she does not

1. oprah just inherited a house with a market value of 150,000 and she does not expect the market value to change. Each year, will pay 300 for utilities and 2000 in taxes. She can…

1. perfectly competitive industry consists of two types of Firms: 100 firms of t

1. perfectly competitive industry consists of two types of Firms: 100 firms of type A and 30 firms of type B. Each type A firm has a short-run supply curve MC= ½ qa. Each type B f…

1. read this current article from The Economist magazine posted below, and 2. pr

1. read this current article from The Economist magazine posted below, and 2. provide your insight, you can relate it to the principles of economics or the production possibilitie…

1. should Mexico\'s government take full responsibility for what goes on within

1. should Mexico's government take full responsibility for what goes on within its own borders ? 2. Has our own "war on drugs" been ineffective, or even counterproductive? "Is Ame…

1. summarize the article, 2. identify key issues of the article and explain (wha

1. summarize the article, 2. identify key issues of the article and explain (what is going on and what are the explanations given?) 3. explain what this means in terms of macroeco…

1. suppose at a bundle (c, d) in the interior of the choice set, your MU for eac

1. suppose at a bundle (c, d) in the interior of the choice set, your MU for each good is zero. you are rational. A) You will consume some bundle on the budget line. true or false…

1. suppose that initially the money supply is 2 trillion, the income velocity of

1. suppose that initially the money supply is 2 trillion, the income velocity of money is 4, the price leve equals 2, and the real GDP is 4 trillion in base-year dollars. then sup…

1. suppose the government of Wunderbar wants to finance a $1 million increase in

1. suppose the government of Wunderbar wants to finance a $1 million increase in government spending by selling bonds. According to the theory by David Ricardo, the public will___…

1. suppose the required reserve ratio is 20%. if the fed creates $100 in bank re

1. suppose the required reserve ratio is 20%. if the fed creates $100 in bank reserves, and the bank loan out the maximum each time and each borrower takes every loan in the form …

1. suppose you work as research economist at the EPA. There are two firms that o

1. suppose you work as research economist at the EPA. There are two firms that operate in a perfertly competitive marker. This implies that each has the same marginal benefit curv…

1. taking into account labour productivity, education and jobconditions, outline

1. taking into account labour productivity, education and jobconditions, outline some of the problems that would arise if allworkers in the canadian economy recieved a uniform wag…

1. the automatic stabilizers tend to A. help \"smooth out\" the business cycle B

1. the automatic stabilizers tend to A. help "smooth out" the business cycle B. make the business cycle worse C. eliminate the business cycle D none of hte above describes teh imp…

1. the following terms a. Explicit costs b. Implicit costs c. Economic depreciat

1. the following terms a. Explicit costs b. Implicit costs c. Economic depreciation d. Technological efficiency onomC 2. what you must do to achieve maximum profits: 3. the major …

1. the general agreement on tariffs and trade is an international agreement a. t

1. the general agreement on tariffs and trade is an international agreement a. to encourage world trade by lowering tariffs and other trade barriers b.between the US and japan tha…

1. the level of competition least beneficial to business owners is? a. oligopoly

1. the level of competition least beneficial to business owners is? a. oligopoly b. monopoly c. pure competition d. monopolistic competition 2. pure competition is a market struct…

1. the marginal cost curve is A. Downward sloping to reflect the bowed out PPF.

1. the marginal cost curve is    A.   Downward sloping to reflect the bowed out PPF.    B.   Downward sloping as marginal benefits increase.    C.   Upward sloping because margina…

1. the most effective form of business organization for raising capital is the a

1. the most effective form of business organization for raising capital is the a. corporation b. partnership c. syndicate d. joint venture e. sole proprietor 2. the Reader's Diges…

1. the most powerful tool unions have at their disposal when bargaining with man

1. the most powerful tool unions have at their disposal when bargaining with management is A) the power of pure competition B) the ability to strike C) the secondary boycott 2. wo…

1. the purpose of the Earned income tax credit program is to a. encourage low an

1. the purpose of the Earned income tax credit program is to a. encourage low and moderate income workers to take second jobs to increase their income b. give tax credits to low i…

1. the study of economics can best be described as the study of a) the factors t

1. the study of economics can best be described as the study of a) the factors that influence the stock and bond markets. b) capitalism c) the choices made in producing goods and …

1. there is only cyclical unemployment in the economy. B. there is no cyclical u

1. there is only cyclical unemployment in the economy. B. there is no cyclical unemployment in the economy. C. the unemployment rate is 0%. D. there is only structural unemploymen…

1. to prevent financial crisis, the central bank lowers the _______, which shoul

1. to prevent financial crisis, the central bank lowers the _______, which should _______ A. target interest rate, raise aggregate expenditure B. inflation taget; increase the int…

1. to prevent financial crisis, the central bank lowers the _______, which shoul

1. to prevent financial crisis, the central bank lowers the _______, which should _______ A. target interest rate, raise aggregate expenditure B. inflation taget; increase the int…

1. to produce financial stability, the federal reserve would want to a) increase

1. to produce financial stability, the federal reserve would want to a) increase the money supply during an economic boom and reduce the money supply during a recession b) raise t…

1. trade costs explains why only a subset of firms export, and they also explain

1. trade costs explains why only a subset of firms export, and they also explain why this subset of firms will consist of a. relatively larger and more productive firms b. relativ…

1. trade costs explains why only a subset of firms export, and they also explain

1. trade costs explains why only a subset of firms export, and they also explain why this subset of firms will consist of a. relatively larger and more productive firms b. relativ…

1. using cost plus pricing, what is the price if ATC=$23.5 and the target rate o

1. using cost plus pricing, what is the price if ATC=$23.5 and the target rate of return is 17 percent? a. $28.31 b. $138.24 c. $29.38 d. $46. 74 2. using cost plus pricing, what …

1. we have a mixed economy because ________________. a) we produce guns and butt

1. we have a mixed economy because ________________. a) we produce guns and butter b) we consume domestically produced goods as well as imports c) we consume both goods and servic…

1. what aspect of the efficient wage in the market create unemployment? 2. accor

1. what aspect of the efficient wage in the market create unemployment? 2. according to the keynesian model what determines the FE line (output) or level of output? 3. according t…

1. what is meant by a \" hard - landing\" adjustment to global inbalance? 2. wha

1. what is meant by a " hard - landing" adjustment to global inbalance? 2. what combination of domestic cionditions would worsen a hard- landing? 3. what specific global imbalance…

1. what market is a price taker 2. understand GDP=C+I+G+F 3. under the circular

1. what market is a price taker 2. understand GDP=C+I+G+F 3. under the circular flow model 4. what is gross private domestic investment spending 5what happens when there is an inc…

1. when the government increases taxes to provide traditional public goods, such

1.  when the government increases taxes to provide traditional public goods, such national security, there tends to be a.  widespread benefits and costs b.  widespread costs and c…

1. which contains a demand schedule for swimming lessons, the marginal cost is c

1. which contains a demand schedule for swimming lessons, the marginal cost is constant and equal to $5 per lesson. If there are two individuals who can provide these services, Li…

1. which firm is an illigal monopoly? 2. This illegal monopoly can maximize it\'

1. which firm is an illigal monopoly? 2. This illegal monopoly can maximize it's profits by Q= at P=$ 3. At the price you answered for question (2), the same firm will earn profit…

1. which of the following best represents economic growth? a. an increase in the

1. which of the following best represents economic growth? a. an increase in the per capita real GDP b.an increase in the per capita nominal GDP c.an increase in nominal GDP d.an …

1. which of the following is a necessary characteristic of money? a) real money

1. which of the following is a necessary characteristic of money? a) real money will always be backed up by reserves of gold, silver or some other intrinsically valuable commodity…

1. which of the following is the largest union in the united states a. Internati

1. which of the following is the largest union in the united states a. International brotherhood of teamsters b. international brotherhood of electrical workers c. national educat…

1. which of the following would be counted as gross domestic investment? regiona

1. which of the following would be counted as gross domestic investment? regional shopping center it plans to build in a few years. inverotry 2. a car company currently has a capi…

1. which two of the following are the best ways to improve your credit scores? A

1. which two of the following are the best ways to improve your credit scores? A.Apply for new credit without actually using it. B. Keep your balance low C. pay your bills on time…

1. why does a downshift of the consumption schedule typically involve an equal u

1. why does a downshift of the consumption schedule typically involve an equal upshift of the saving schedule? what is the exception of this relationship? 2. what is the role of t…