Economics

a. The market or equilibrium price is $­­­­__________. b. The economic value of

a.   The market or equilibrium price is $­­­­__________. b.   The economic value of the 10,000th unit is $__________, and the minimum price producers will accept to produce this u…

a. The new consumer surplus is half of the original consumer surplus. b. The new

a. The new consumer surplus is half of the original consumer surplus. b. The new consumer surplus is 25 percent of the original consumer surplus. c. The new consumer surplus is do…

a. The part of consumption that is determined by income is referred to as autono

a. The part of consumption that is determined by income is referred to as autonomous consumption. True or False b. If firms increase their investment spending, the resulting chang…

a. The production and total cost levels in the short run for a firm are Q (0,1,2

a. The production and total cost levels in the short run for a firm are    Q (0,1,2,3,4,5) TC (-,-,-,24,25,28) TFC (-,-,-,15,-,-) TVC (-,4,3,-,-,-) AFC (-,-,-,-,-) ATC (-,-,-,-,-)…

a. The profit-maximizing price is $________ and the firm should produce _______u

a. The profit-maximizing price is $________ and the firm should produce _______units of output. b. The elasticity of demand at the profit-maximizing point on demand is __________ …

a. There are two types of consumers for handbags. High-end consumers and low-end

a. There are two types of consumers for handbags. High-end consumers and low-end High-end consumers have a wllingness to pay of. VH25z 100 while low-end consumers have a willingne…

a. To derive a market supply curve from individual producers\' supply curves, yo

a. To derive a market supply curve from individual producers' supply curves, you A) sum up the curves horizontally, adding up the quantities supplied at each price. B) sum up the …

a. True d False e fallacy of composition is the error of believing a cause-effec

a. True d False e fallacy of composition is the error of believing a cause-effect relationship exists between two even are associated in time. a. True b False 26. Secondary effect…

a. Two identical countries, Country A and Country B, can each be described by a

a. Two identical countries, Country A and Country B, can each be described by a Keynesian-cross model. The MPC is 0.8 in each country. Country A decides to increase spending by $1…

a. Use a T-account to show the initial effect of this transaction on Bank of Ame

a. Use a T-account to show the initial effect of this transaction on Bank of America's balance sheet. b. Suppose that Bank of America makes the maximum loan they can from the fund…

a. Use table 1 to calculate the growth in the capital stock (%?K) for the US ove

a. Use table 1 to calculate the growth in the capital stock (%?K) for the US over the years 1995- 2002. When the growth in the capital stock is very high, as it was in 1995-2002, …

a. Use the conventional benefit /cost ratio equivalent worth measure, to select

a. Use the conventional benefit /cost ratio equivalent worth measure, to select the preferred design for the 3. (15%) You ha ve been assigned the task of com- paring the economic …

a. Use the information above to compute the opportunity cost of producing 1 unit

a. Use the information above to compute the opportunity cost of producing 1 unit of wheat in each country.      For Great Britain, the opportunity cost of producing 1 unit of whea…

a. Using a method similar to the consumer price index, compute the percentage ch

a. Using a method similar to the consumer price index, compute the percentage change in the overall price level. Use 2009 as the base year, and fix the basket at 1 karaoke machine…

a. Using the information in the graphs, find the representative fam\'s profit ma

a. Using the information in the graphs, find the representative fam's profit maximizing output and economic profit. Instructions: In the graph for the representative farm, draw th…

a. What are the characteristics of the perfectly competitive firm b. Use 2 graph

a.       What are the characteristics of the perfectly competitive firm b.      Use 2 graphs to show why the perfect competitor is a 'price taker' c.       Graph a short run econo…

a. What are the equilibrium wage and employment if the labor market is competiti

a. What are the equilibrium wage and employment if the labor market is competitive? What is the unemployment rate? b. Suppose the government sets a minimum hourly wage of $8. How …

a. What effect will each of the following have on the DEMAND for coffee (i.e. In

a.       What effect will each of the following have on the DEMAND for coffee (i.e. Increase Demand, Decrease Demand, or NO CHANGE)? A brief explantion is needed. i.      There is…

a. What factors might contribute to a low level of productivity in an economy? C

a. What factors might contribute to a low level of productivity in an economy? Compare these to the rapid productivity growth experience by the United States during the 1990s. b. …

a. What is ATC per unit for each level of output listed in the table? Output 25,

a. What is ATC per unit for each level of output listed in the table? Output 25,000 50,000 75,000 100,000 TC 100,000 150,000 187,500 275, 500 MC $ .50 1.00 2.50 3.00 b. Is this a …

a. What is ATC per unit for each level of output listed in the table? Output TC

a. What is ATC per unit for each level of output listed in the table? Output TC MC ATC 25,000 $100,000 $ .50 50,000 150,000 1.00 75,000 187,500 2.50 100,000 275,500 3.00 b. Is thi…

a. What is ATC per unit for each level of output listed in the table? Output TC

a. What is ATC per unit for each level of output listed in the table? Output TC MC ATC 25,000 $100,000 $ .50 50,000 150,000 1.00 75,000 187,500 2.50 100,000 275,500 3.00 b. Is thi…

a. What is the condition on (the absolute value of) own-price elasticity that en

a. What is the condition on (the absolute value of) own-price elasticity that ensures a firm's revenues, R, will increase as it increases in price? b. Assuming that condition is s…

a. What is the dollar value of the total surplus (producer surplus plus consumer

a. What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output level Q1 is being produced?      How large is the …

a. What is the equilibrium interest rate in Moola?... percent. b. What is the le

a. What is the equilibrium interest rate in Moola?... percent. b. What is the level of investment at the equilibrium interest rate? $...? c. Is there either a recessionary output …

a. What is your current total revenue for both groups? b. The elasticity of dema

a. What is your current total revenue for both groups? b. The elasticity of demand is more elastic in which market? c. Which market has the more inelastic demand? d. What is the e…

a. What output should be produced? b. What will be the price? c. How much profit

a. What output should be produced? b. What will be the price? c. How much profit is made? d. If the firm can change plant size and move into the long run, what will be output and …

a. What percentage of the sample members are nonwhite? b. Test the hypothesis th

a. What percentage of the sample members are nonwhite? b. Test the hypothesis that other things equal, people who are married earn more than people who are not, using a 5% level o…

a. What policy changes are meant by the phrase “tax reform”? b. What is an endow

a. What policy changes are meant by the phrase “tax reform”? b. What is an endowment in an exchange economy? c. Why is the endowment always on the budget constraint? d. Do you hav…

a. What will be the monthly payment on a 30-year, $250,000 mortgage loan, where

a. What will be the monthly payment on a 30-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded monthly? How much interest is paid over the life of th…

a. When the Federal Reserve makes an open market purchase, the Fed: buys securit

a. When the Federal Reserve makes an open market purchase, the Fed: buys securities from banks and the public, which will decrease the money supply. sells securities to banks and …

a. Which of the following are microeconomic problems? Instructions: You may sele

a. Which of the following are microeconomic problems? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the…

a. Which of the following describes the type of entry barrier faced for legal se

a. Which of the following describes the type of entry barrier faced for legal services? 0 A. There is a created entry barrier for legal services because entry into the market has …

a. Which rectangle in the above graph represents the firm’s Total Revenue ? Iden

a. Which rectangle in the above graph represents the firm’s Total Revenue? Identify the rectangle by its four     letters and also provide a brief economic/quantitative reasoning …

a. Which set of data illustrates aggregate supply in the immediate short-run in

a. Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville? The data in . Which set of data illustrates aggregate supply in the short run in …

a. Which situations correspond to a liquidity trap as defined in Chapter 4? b. W

a. Which situations correspond to a liquidity trap as defined in Chapter 4? b. Which situations correspond to the case where the nominal policy interest rate is at the Zero Lower …

a. Why is the soft drink industry so profitable during the years in this case? b

a. Why is the soft drink industry so profitable during the years in this case? b. Update the profitability....what has happened to Coke and Pepsi in the last five years? c. Coke a…

a. \" The Federal Reserve kept interest rates too low for too long after the rec

a. "The Federal Reserve kept interest rates too low for too long after the recession of 2001; this is what fuelled the property bubble of the mid-2000s in the US." Is this stateme…

a. a tradeoff because of reduced incomes to the firms\' owners and workers. b. a

a. a tradeoff because of reduced incomes to the firms' owners and workers. b. a tradeoff only if some firms are forced to close. c. no tradeoff, since the cost of reducing polluti…

a. an observational time series data set. b. an ideal randomized controlled expe

a. an observational time series data set. b. an ideal randomized controlled experiment. c. an observational panel data set. d. an observational cross-sectional data set. You are a…

a. average fixedcosts will also be increasing. b. average variablecosts must be

           a.         average fixedcosts will also be increasing.            b.         average variablecosts must be decreasing.            c.         marginal costmust be greate…

a. b. c. Compute the margin of error at a 95% confidence interval. If the sample

a. b. c. Compute the margin of error at a 95% confidence interval. If the sample mean is 7.58, what is the 95% confidence interval? If the sample mean is 7.58, what is the 99% con…

a. b. c. d. a decrease in the money supply. an increase in the money supply. a d

a. b. c. d. a decrease in the money supply. an increase in the money supply. a decrease in the production of output. an increase in the production of output. 41. If an economy pro…

a. both a U.S. and Italian import. b. a U.S. export and an Italian import. c. a

a. both a U.S. and Italian import. b. a U.S. export and an Italian import. c. a U.S. import and an Italian export. d. neither an export nor an import for either country. a. John, …

a. consider a demand curve of the form Qd=-2p+20 where Qd is the quantity demand

a. consider a demand curve of the form Qd=-2p+20 where Qd is the quantity demanded of a good and P is the price of the good. graph this demand curve. Also draw a graph for the sup…

a. each good he purchases will remain unchanged. b. normal goods will decrease.

a. each good he purchases will remain unchanged. b. normal goods will decrease. c. luxury goods will increase. 11. Alyssa rents 5 movies per month when the price is $3.00per renta…

a. enable the economy to produce outside its original prodaction b. enable the e

a. enable the economy to produce outside its original prodaction b. enable the economy to move along its original production possibilities froetie c. eliminate scarcity; therefore…

a. grew from one-quarter to one-third. b. fell by half. c. grew from one-fourth

a.     grew from one-quarter to one-third. b.    fell by half. c.     grew from one-fourth to one-half. d.    remained at about one-third. 2. Which of the following accounted for …

a. has to spend more dollars to maintain the same standard ofliving. b. can spen

a. has to spend more dollars to maintain the same standard ofliving. b. can spend fewer dollars to maintain the same standard ofliving. c. finds that its standard of living is not…

a. increase and the quantity of money demanded will decrease. b. increase and th

a. increase and the quantity of money demanded will decrease. b. increase and the quantity of money demanded will increase. c. decrease and the quantity of money demanded will dec…