Economics

1.) Perfectly competitive firm is a price taker because: It has no control over

1.) Perfectly competitive firm is a price taker because: It has no control over the selling price of its product. It has market power. Market deman is downward sloping. It’s produ…

1.) Red, Inc., Yellow Corp., and Blue Company each will pay a dividend of $2.86

1.) Red, Inc., Yellow Corp., and Blue Company each will pay a dividend of $2.86 next year. The growth rate in dividends for all three companies is 5%. The required rate of return …

1.) Suppose Always There Wireless serves 100 high-high demand wireless consumers

1.) Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumer…

1.) Suppose Always There Wireless serves 100 high-high demand wireless consumers

1.) Suppose Always There Wireless serves 100 high-high demand wireless consumers, each of whose monthly demand curve for minutes of wireless service is and 300 low-demand consumer…

1.) Suppose Bob owns a pizza place in a competitive market. If an additional wor

1.) Suppose Bob owns a pizza place in a competitive market. If an additional worker offers marginal productivity of 40 pizzas which can sell for $5 each, what is the highest wage …

1.) Suppose Bob owns a pizza place in a competitive market. If an additional wor

1.) Suppose Bob owns a pizza place in a competitive market. If an additional worker offers marginal productivity of 40 pizzas which can sell for $5 each, what is the highest wage …

1.) Suppose that 100 firms operate in a perfectly competitive industry and each

1.) Suppose that 100 firms operate in a perfectly competitive industry and each firm has the same technology and cost structure. If each firm maximizes profits by selling 20 units…

1.) Suppose that a bank has $60,000 in checkable account with the required ratio

1.) Suppose that a bank has $60,000 in checkable account with the required ratio of 10%. If this bank is holding $4,000 in excess reserve: a. What are the reserves? b. If RRR is c…

1.) Suppose that the government adopts a lump-sum tax system under which the tot

1.) Suppose that the government adopts a lump-sum tax system under which the total tax amount is T. Further suppose that the governemnt decreases tax amount. What are the effects …

1.) Suppose the government allows imports of rice into the United States. If the

1.) Suppose the government allows imports of rice into the United States. If the world price is $2 per pound, what happens to the price that domestic sellers charge and what is th…

1.) Suppose your demand for DVDs is given in the following demand schedule:

1.)                Suppose your demand for DVDs is given in the following demand schedule:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /> a.    …

1.) The Discount Rate is equal to 1% and the Fed Funds Rate is equal to .5% What

1.) The Discount Rate is equal to 1% and the Fed Funds Rate is equal to .5% What does the Prime Rate equal? 2.) The Discount Rate is equal to 1% and the Fed Funds Rate is equal to…

1.) The KLM Mutual Fund has a net asset value of $12.34 and an offer price of $1

1.) The KLM Mutual Fund has a net asset value of $12.34 and an offer price of $13.34. Use this information to answer the following questions. (Show all work.) 2.) Eric works for a…

1.) The KLM Mutual Fund has a net asset value of $12.34 and an offer price of $1

1.) The KLM Mutual Fund has a net asset value of $12.34 and an offer price of $13.34. Use this information to answer the following questions. (Show all work.) 2.) Eric works for a…

1.) The Uruguay Round of GATT wrote new international rules for? A. Services B.

1.) The Uruguay Round of GATT wrote new international rules for? A. Services B. Intellectual Properties C. Agriculture D. All of the above E. (A) and (B) above 2,) Regarding forei…

1.) The XYZ firms production manager reports that the short run production relat

1.) The XYZ firms production manager reports that the short run production relationship between the number of labor units that may be used in production, and the total product tha…

1.) The average total cost (ATC) curve for a perfectly competitive firm is most

1.) The average total cost (ATC) curve for a perfectly competitive firm is most often U-shaped because of the effect of ___________ at lower quantities and __________ at higher qu…

1.) The components of an offer a company brings to market, known as the marketin

1.) The components of an offer a company brings to market, known as the marketing mix, includes all of the following except _____. a. Product b. Place c. Price d. Positioning 2.) …

1.) The economies of Ireland and France are: A.)Different in that France has a c

1.) The economies of Ireland and France are: A.)Different in that France has a command system while Ireland has a market system B.)Different in that Ireland has a command system w…

1.) The first set of six questions involves the concept of elasticity. The first

1.) The first set of six questions involves the concept of elasticity. The first three of those six questions involve the product ELECTRICITY. The next three questions are similar…

1.) The gravity model predicts that the value of trade between two countries ---

1.) The gravity model predicts that the value of trade between two countries ---- with the size of their GDPs and ---- with the distance between them. A increases; increases B inc…

1.) The per se rule was an antitrust law guideline that emphasized ____ over ___

1.)   The per se rule was an antitrust law guideline that emphasized ____ over ____. a. price; quantity b. quantity; price c. law; the economy d. size; behavior e. behavior; size …

1.) The supply of loanable funds is determined primarily by? A. Public savings.

1.) The supply of loanable funds is determined primarily by? A. Public savings. B. Savings. C. Taxes. D. Investment demand. 2.) In the long run, an increase in prices will result …

1.) To maximize profit, a monopolistically competitive firm a. Sets its rice equ

1.) To maximize profit, a monopolistically competitive firm a. Sets its rice equal to its marginal revenue while keeping it below marginal cost b. Sets its price equal to its marg…

1.) Two projects A and B have the potential uniform annual benefits and their as

1.) Two projects A and B have the potential uniform annual benefits and their associated probabilites of occurrence as shown below. Project A                                     P…

1.) Under what conditions does a nominal tariff applied to an import product ove

1.) Under what conditions does a nominal tariff applied to an import product overstate or understate the actual, or effective, protection afforded by the nominal tariff? 2.) Less-…

1.) We are constantly hearing about the mass exodus of jobs to other countries (

1.) We are constantly hearing about the mass exodus of jobs to other countries (phone service, computer service, sales). Use the concept of comparative advantage to explain why th…

1.) What is the NPV for each project? Select one: a. Project 1: $15,504 Project

1.) What is the NPV for each project? Select one: a. Project 1: $15,504 Project 2: $13,640 Project 3: $11,560 b. Project 1: $17,504 Project 2: $10,640 Project 3: $12,560 c. Projec…

1.) What type of unemployment can still exist at \"full employment\" A.) Cyclica

1.) What type of unemployment can still exist at "full employment" A.) Cyclical B.) Frictional C.) None FOR QUESTIONS 2-4: Assume the US can produce 30 barrels of oil OR 15 tons o…

1.) What was the state of the federal budget at the start ofthe twenty-first cen

1.) What was the state of the federal budget at the start ofthe twenty-first century? a. surpluses for the first time in 30 years b. large surpluses for the last 10 years c. minor…

1.) When a “bubble” arises, asset prices are driven by: Select one: a. policymak

1.) When a “bubble” arises, asset prices are driven by: Select one: a. policymakers. b. changes in aggregate demand and aggregate supply. c. shifts in money growth rate. d. shifts…

1.) When the marginal product of labor is smaller than its average product a. Ma

1.) When the marginal product of labor is smaller than its average product a. Marginal cost must be declining b. Marginal cost must be smaller than average cost c. Average variabl…

1.) When the marginal product of labor is smaller than its average product a. Ma

1.) When the marginal product of labor is smaller than its average product a. Marginal cost must be declining b. Marginal cost must be smaller than average cost c. Average variabl…

1.) Which of the following is not a characteristic of a? monopoly? A.) A product

1.) Which of the following is not a characteristic of a? monopoly? A.) A product with no close substitutes. B.) Free entry and exit C.) A single firm in the market. D.) Barriers t…

1.) Which of the following is not a characteristic of a? monopoly? A.) A product

1.) Which of the following is not a characteristic of a? monopoly? A.) A product with no close substitutes. B.) Free entry and exit C.) A single firm in the market. D.) Barriers t…

1.) Which of the following is true about the tax incidence and tax burden of an

1.) Which of the following is true about the tax incidence and tax burden of an increase in tax? The tax incidence of a tax is always equivalent to its ultimate tax burden. If the…

1.) Which of the following is true for countries following the gold standard exc

1.) Which of the following is true for countries following the gold standard exchange rate system? Discretionary fiscal policy in these countries is hindered. The value of the exc…

1.) Which of the following is typically related to pricing new products? Price c

1.) Which of the following is typically related to pricing new products? Price comparing Price discounting Penetration pricing Odd pricing Reference pricing 2.) Which of the follo…

1.) Which of the graphs in the figure reflects a decrease in the price of good Y

1.) Which of the graphs in the figure reflects a decrease in the price of good Y only? graph a graph b graph c graph d 2.) As the consumer moves from point A to B to C to D, the c…

1.) William McKinley decided to annex the Philippines because a.)the Islands wou

1.) William McKinley decided to annex the Philippines because a.)the Islands would provide a new market for American products b.) Catholic immigrants from Europe might be more lik…

1.) You can borrow $25,000 at an annual interest rate of 6% compounded quarterly

1.) You can borrow $25,000 at an annual interest rate of 6% compounded quarterly. Equal payment will be made every quarter over a five year period. What will the quarterly payment…

1.) You can invest $100,000 into either project A or B. You estimate that A succ

1.) You can invest $100,000 into either project A or B. You estimate that A succeeds with probability 0.7 in which case it doubles in value. If it fails, the scrap value is worth …

1.) You have just bought (on margin) 100 shares of IBM Corp. common stock for $1

1.) You have just bought (on margin) 100 shares of IBM Corp. common stock for $108 per share. One year from now you expect to sell the stock for $140. The interest charge will be …

1.) You purchased an immediate annuity which pays you $3,000 each year from next

1.) You purchased an immediate annuity which pays you $3,000 each year from next year for 15 years. Assuming interest rate is 5%, how much is the equivalent present value of these…

1.) You run a gizmo factory. Over the past year the average output of the factor

1.) You run a gizmo factory. Over the past year the average output of the factory is 480 gizmos and the standard deviation of that output is 10 units per day. In repeated random s…

1.) Your product fails about 2% of the time, on average. Some customers purchase

1.) Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want …

1.) that would still be considered elastic? Assume that dem Assume that demand i

1.) that would still be considered elastic? Assume that dem Assume that demand is elastic. Of the elasticities shown here, which is the lowest A. 10.0 B. 1.01 1.00 D. 0.01 If a ca…

1.) which of the following are production activities that are included in GDP? w

1.) which of the following are production activities that are included in GDP? which are not a.) Mr king paint his own house b.) Mr king paint house for a living c.) Mrs king earn…

1.)A glass company making windows for houses also makes windows for other things

1.)A glass company making windows for houses also makes windows for other things (cars, boats, planes, etc.). We would expect its supply curve for house windows to be: And if you …

1.)A higher price reduces the quantity demanded for a product because: a.)Indivi

1.)A higher price reduces the quantity demanded for a product because: a.)Individuals can afford less of the product and will switch to substitutes b.)The financial assets of indi…