Economics

13. Given a demand function of D(P) = 500 - 10P, what is it\'s inverse demand fu

13. Given a demand function of D(P) = 500 - 10P, what is it's inverse demand function? A. D(P) = 50 - P B. P(Q) = 50P C. P(Q) = 50 - Q/10 D. P(Q) = 500 - 10Q 15. A price-taking fi…

13. Given a demand function of D(P) = 500 - 10P, what is it\'s inverse demand fu

13. Given a demand function of D(P) = 500 - 10P, what is it's inverse demand function? A. D(P) = 50 - P B. P(Q) = 50P C. P(Q) = 50 - Q/10 D. P(Q) = 500 - 10Q 15. A price-taking fi…

13. Given a demand function of D(P) = 500 - 10P, what is it\'s inverse demand fu

13. Given a demand function of D(P) = 500 - 10P, what is it's inverse demand function? A. D(P) = 50 - P B. P(Q) = 50P C. P(Q) = 50 - Q/10 D. P(Q) = 500 - 10Q 15. A price-taking fi…

13. Globalization can be defined as: a. the attitude or policy of placing the in

13. Globalization can be defined as: a. the attitude or policy of placing the interests of the entire world above those of individual nations viewing the entire world as a proper …

13. How can we measure growth over the very long run? The poorest countries in t

13. How can we measure growth over the very long run? The poorest countries in the world have a per capita income of about $600 today. We can reasonably assume that it is nearly i…

13. How prices allocate resources Aa Aa Suppose that there are three beachfront

13. How prices allocate resources Aa Aa Suppose that there are three beachfront parcels of land available for sale in Asilomar and six people who would each like to purchase one p…

13. If Congress passes legi slati on to raise taxes to control inflation, this w

13. If Congress passes legi slati on to raise taxes to control inflation, this would be an example of an): a) Contractionary fiscal policy b) Contractionary monetary policy c Nond…

13. If Point X and Point Y are on the same indifference curve: a) The bundle rep

13. If Point X and Point Y are on the same indifference curve: a) The bundle represented by point X is preferred to the bundle represented by point Y b) The bundle represented by …

13. If a 10% decrease in the price of gas causes a 30% increase in the demand fo

13. If a 10% decrease in the price of gas causes a 30% increase in the demand for standard sized autos, then the cross-price elasticity of demand is: 14. If the price elasticity o…

13. If a monopolistic competitor is producing an output for which marginal reven

13. If a monopolistic competitor is producing an output for which marginal revenue is $40 and marginal cost is $32 to maximize profits the firm should A. decrease the level of out…

13. If it is true that \"the last drop tastes as good as the first,\"then margin

13. If it is true that "the last drop tastes as good as the first,"then marginal utility must be a. constant. b. decreasing e. increasing d. rising only slowly. e. diminishing Con…

13. If purchasing-power parity holds, a dollar will buy (a) one unit of each for

13. If purchasing-power parity holds, a dollar will buy (a) one unit of each foreign currency b) foreign currency equal to the U.S. price level divided by the foreign countrys pri…

13. If the demand for tires goes down when the price of gas goes up, then tires

13. If the demand for tires goes down when the price of gas goes up, then tires and gas A) substitutes. B complements. are: both expensive. D) both inexpensive 14. An inferior goo…

13. If the market demand for this product increases, which of the following stat

13. If the market demand for this product increases, which of the following statements is correct?             a. Product price will increase and production costs will fall, resul…

13. If the price of bread rises, then in the market for a complement such as a.

13. If the price of bread rises, then in the market for a complement such as a. Supply shifts to the left (decreases) Demand shifts to the left (decreases). Demand shifts to the r…

13. In 1935 the A) AFL was organizing along industry lines and the CIO was organ

13. In 1935 the A) AFL was organizing along industry lines and the CIO was organizing along lines. craft AEL was organizing along craft lines and the CIO was organizing along indu…

13. In 1935 the A) B) AFL was organizing along industry lines and the CKO was or

13. In 1935 the A) B) AFL was organizing along industry lines and the CKO was organiring along craft lines. AFL was organizing along craft lines and the C1O was organizing along i…

13. In Evidence of a shift in the short-run price elasticity of gasoline de- man

13. In Evidence of a shift in the short-run price elasticity of gasoline de- mand" by J. Hughes, C. Knittel and D. Sperling, the authors estimate the following demand equation: wh…

13. In a competitive market that is in long-run equilibrium, a permanent decreas

13. In a competitive market that is in long-run equilibrium, a permanent decrease in demand A) raises profits in the short run. B) raises the price in the short run. C) leads to n…

13. In a simple regression estimation procedure (Y -a+ bX + e), the standard err

13. In a simple regression estimation procedure (Y -a+ bX + e), the standard error of the regression represents the? a. the variability in Y explained by X, c. the variability in …

13. In developing countries, the government\'s revenues are: A. limited because

13. In developing countries, the government's revenues are: A. limited because the tax base is too large and the government lacks the institutional ability to collect taxes. B. li…

13. In the foreign exchange market, what could be a possible consequence of an i

13. In the foreign exchange market, what could be a possible consequence of an increase in t stocks of Toyota, a Japanese automobile firm, by the U.S. residents? a. Demand for dol…

13. In the past some of the countries belonging to the Eurocurrency system times

13. In the past some of the countries belonging to the Eurocurrency system times pushed for lower interest rates in unemployment problem. L have at Western Europe in order to redu…

13. In which of the following cases do the sizeof the government’s debt and the

13. In which of the following cases do the sizeof the government’s debt and the size of the budget deficitindicate potential problems for the economy? a. The government’s debt is …

13. In words, what does conditional convergence say? a) Countries that are initi

13. In words, what does conditional convergence say? a) Countries that are initially richer subsequently grow more slowly b) Countries that are initially richer subsequently grow …

13. Max has a utility function U(x, y) = 2xy + 1. The prices of x and y are both

13. Max has a utility function U(x, y) = 2xy + 1. The prices of x and y are both $1 and Max has an income of $20. a. How much of each good will he demand? b. A tax is placed on x …

13. Negative selection in a migration model means that A. immigrants from the so

13. Negative selection in a migration model means that A. immigrants from the source country are highly skilled relative to labor in the destination country. B. immigrants from th…

13. People or firms use one currency to purchase another currency at the ___. A.

13. People or firms use one currency to purchase another currency at the ___. A. international currency exchange B. foreign exchange market C. foreign currency exchange D. interna…

13. Please 3. Suppose a monopolist recognizes that students have a different dem

13. Please 3. Suppose a monopolist recognizes that students have a different demand schedule for their product than non-students. Specifically, inverse demand by students is given…

13. Recent financial crises Aa Aa Which of the following is not true of the savi

13. Recent financial crises Aa Aa Which of the following is not true of the savings and loan (S&L;) crisis of the 1980s? O Several years after the crisis, Congress implemented…

13. Recent financial crises Aa Aa Which of the following is not true of the savi

13. Recent financial crises Aa Aa Which of the following is not true of the savings and loan (S&L;) crisis of the 1980s? O When Congress eased regulations to allow S&Ls; t…

13. Refer to Exhibit 23-1. The dollar amounts that go in blanks (A) and (B) are,

13. Refer to Exhibit 23-1. The dollar amounts that go in blanks (A) and (B) are, respectively, a. $1 and $12. b. $12 and $12. c. $8.42 and $8.50. d. $12 and $6.    14.   Refer to …

13. Suppose Katie has the option to buy a shirt or buy a pair of pants. Suppose

13. Suppose Katie has the option to buy a shirt or buy a pair of pants. Suppose Katie purchases a shirt. Consider the following statements: I: Katie’s total utility increases II: …

13. Suppose Paul\'s aility function is U -SxY, where U is mesured in usils (leve

13. Suppose Paul's aility function is U -SxY, where U is mesured in usils (level of happiness). X'is consumption hors-d is consumption of swimming hoursFor this utility fa ton, th…

13. Suppose that hotdogs and mustard are complements. If the price of hotdogs in

13. Suppose that hotdogs and mustard are complements. If the price of hotdogs increases: A. The quantity demanded of mustard packs decreases. B. The quantity demanded of mustard p…

13. Suppose that increased international trade makes product markets more compet

13. Suppose that increased international trade makes product markets more competitive in the U.S. Given this information, we would expect to observe which of the following? A) an …

13. Suppose you can only consume nonnegative units of Good X and Good Y. Your ut

13. Suppose you can only consume nonnegative units of Good X and Good Y. Your utility In(ry) where In() is the natural logarithm operator. Which of function is U(x, y) the followi…

13. The components of aggregate demand are a) Consumption, government spending,

13. The components of aggregate demand are a) Consumption, government spending, imports, and investment. b) Consumption, exports, imports, and government spending c) Exports, impo…

13. The demand and supply for catnip are given by the following tables: Demand S

13. The demand and supply for catnip are given by the following tables: Demand Supply Quantity Price $1.50lb 2.00 2.50 3.00 3.50 4.00 Quantity 10 lb Price $1.50/lb 2.00 2.50 3.00 …

13. The public is initially holding currency equal to $800 and deposits equal to

13. The public is initially holding currency equal to $800 and deposits equal to $400. Banks are holding only required reserves and the required reserve ratio is 10%. Banks also h…

13. Understanding the kinked demand curve theory Aa Aa Happyland Is one of five

13. Understanding the kinked demand curve theory Aa Aa Happyland Is one of five amusement parks on Sunshine Island. The following graph shows Happyland's kinked demand urve (D1D2)…

13. Use demand and supply graphs for the federal funds market (market for reserv

13. Use demand and supply graphs for the federal funds market (market for reserves) to analyze the following situations. Be sure that your graphs clearly show changes in the equil…

13. Use the money mad FX market to answer the following question about the relat

13. Use the money mad FX market to answer the following question about the relationship between the British pound () and the U.S. dollar (S). The exchange rate is in U.S. dollars …

13. Use this aggregate demand and short-run aggregate supply schedule for a hypo

13. Use this aggregate demand and short-run aggregate supply schedule for a hypothetical economy to answer the following questions Real domestic output demanded (in billions) $300…

13. Using aggregate demand, short-run aggregate supply, and long-run aggregate s

13. Using aggregate demand, short-run aggregate supply, and long-run aggregate supply curves, explain the process by which each of the following government policies will move the …

13. We generally assume that sports organizations a. face down sloping demand cu

13.    We generally assume that sports organizations       a.    face down sloping demand curves and are perfectly competitive     b.    face down sloping demand curves and are no…

13. When the United States has a current account deficit, it must: a. be balance

13. When the United States has a current account deficit, it must: a. be balanced with capital inflows from foreign countries. b. reduce its net transfers to balance the account. …

13. Which of the following business combinations likely exhibit economies of sco

13. Which of the following business combinations likely exhibit economies of scope? ( Please provide a reason why you chose that option why not other options) A) Banking services …

13. Which of the following explains why production rises in most years? increase

13. Which of the following explains why production rises in most years? increases in the labor force a. b. increases in the capital stock c. advances in technological knowledge d.…

13. Which of the following institutions is NOT a central bank? A. Bank of Japan

13. Which of the following institutions is NOT a central bank? A. Bank of Japan B. Bank of England C. Bank of Canada D.Bank of China 14. The agency responsible for regulating the …