Economics

14- Rent controls create distortions in the housing market by: Question 27 optio

14- Rent controls create distortions in the housing market by: Question 27 options: a- increasing rents received by landlords b- raising property values. c- encouraging landlords …

14- The law of demand states that: Question 14 options: a- as the price of a goo

14- The law of demand states that: Question 14 options: a- as the price of a good increases, more units are demanded. b- there is a direct relationship between the price of a good…

14-128. A freeze that destroy all of the Florida orange crop would resultin a a

14-128. A freeze that destroy all of the Florida orange crop would resultin a a lower price for orange juice as people will switch to Texas grapefruit juice b. a higher price for …

14-2 Figure i Wheat 19. As we move down the production possibilities schedule in

14-2 Figure i Wheat 19. As we move down the production possibilities schedule in Figure 14-2, each successive point is a. less efficient. b. more efficient. c. equally efficient. …

14-If a decrease in the price of movie tickets increases the total revenue of mo

14-If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is evidence that demand is: Question 14 options: a- price elastic. b- price inel…

14. (Points: 2) Assume that the Law of Diminishing Marginal Product applies atth

14. (Points: 2) Assume that the Law of Diminishing Marginal Product applies atthe current output level of a competitive firm. The priceis $20 and, at the current output level, mar…

14. (Points: 2) It is likely that a country with abundant natural resourcesandre

14. (Points: 2) It is likely that a country with abundant natural resourcesandrelatively more human capital a. will grow faster than a countrywithabundant physical capital and rel…

14. (Refer to Figure 4 above). In the market shown, deadweight loss is A. 520 8

14. (Refer to Figure 4 above). In the market shown, deadweight loss is A. 520 8 $50 C.$100 D. 580 15. (Refer to Figure 4 above). In the market shown, tax revenue is A. $80 8.$200 …

14. A number of factors can influence a country\'s trade balance. For each of th

14. A number of factors can influence a country's trade balance. For each of the following, indicate how it would affect the count country's exports and its imports. In each box, …

14. A rock-climbing school faces two demand curves. The demand by local resident

14. A rock-climbing school faces two demand curves. The demand by local residents is Q- 400 - 0.5P, and the demand by others is Q- 500 -0.5P. The marginal cost of serving either l…

14. A supply and demand puzzle The following graph shows the market for laptops

14. A supply and demand puzzle The following graph shows the market for laptops in 2007. Between 2007 and 2008, the equilibrium quantity of laptops remained constant, but the equi…

14. According to the Cahner\'s In-Stat Group, the number of the world-wide wirel

14. According to the Cahner's In-Stat Group, the number of the world-wide wireless phone subscribers will soon reach the 1 billion mark. In the U.S. alone, the number of wireless …

14. According to the marginal decision rule in economics, if the marginal benefi

14. According to the marginal decision rule in economics, if the marginal benefit is: A) more than marginal cost, an activity should be reduced. B) less than marginal cost, an act…

14. Although the Fed has very strong influence over the money supply, it does no

14.Although the Fed has very strong influence over the money supply, it does not have complete control a. Because the Fed has no idea how much reserves will change when it buys or…

14. At 100 units of output, total cost is $30,000 and total variable cost is $14

14. At 100 units of output, total cost is $30,000 and total variable cost is $14,000. What does average fixed cost equal at 100 units? (Points : 2) $300 $160 $140 $16,000 15. A 20…

14. At 100 units of output, total cost is $30,000 and total variable cost is $14

14. At 100 units of output, total cost is $30,000 and total variable cost is $14,000. What does average fixed cost equal at 100 units? (Points : 2) $300 $160 $140 $16,000 15. A 20…

14. Avital and Joshua each have their own business selling lemonade in front of

14. Avital and Joshua each have their own business selling lemonade in front of their houses. When they each charge 25 cents per glass, their total revenues are equal. How ever, w…

14. Consider a firm that produces output from capital and labor according to the

14. Consider a firm that produces output from capital and labor according to the production function q = 10LK. The price of capital (r) is $120 per unit. The price of labor (w) is…

14. Consider the market for frozen yogurt. Assume the market starts at point A .

14. Consider the market for frozen yogurt. Assume the market starts at point A. An increase in income causes a movement to point A. B because the price of resources used to make f…

14. Consider the regression below. If X 2 increases by 20 and X 4 decreases by 2

14.   Consider the regression below. If X2 increases by 20 and X4 decreases by 20, what change in Y is predicted by the regression?      Y=11+10X1+9X2+8X3+7X4+8X5 +u, n=21, R2=0.5…

14. Damage to the environment occurs because: A) most businesses just don\'t car

14.   Damage to the environment occurs because: A)   most businesses just don't care about the environment. B)   consumers want goods and services at the lowest prices no matter w…

14. Don owns a small concrete-mixing company. His fixed cost is the cost of the

14. Don owns a small concrete-mixing company. His fixed cost is the cost of the concrete-batching machinery and his mixer trucks. His variable cost is the cost sand, gravel, and o…

14. Economic theory is ambiguous about whether marijuana and alcohol are In the

14. Economic theory is ambiguous about whether marijuana and alcohol are In the other 48 states, including the neighboring state of Oregon, the recreational use of marijuana remai…

14. Economic theory is ambiguous about whether marijuana and alcohol are substit

14. Economic theory is ambiguous about whether marijuana and alcohol are substitutes or compliments. An empirical study would be needed to see how consumption of these products re…

14. Exhibit 7-1 shows the change in the short-run production ofpizzas as more wo

14. Exhibit 7-1 shows the change in the short-run production ofpizzas as more workers are hired. The table shows the marginalproduct of the labor input is decreasing with the hiri…

14. Free competition is not compatible with a. Many buyers b. Horizontal demand

14. Free competition is not compatible with a. Many buyers b. Horizontal demand function for the firm c. Increasing return to scale d. Full information e. Homogeneous product 15. …

14. How does monopoly product quality compare to the quality a social planner wo

14. How does monopoly product quality compare to the quality a social planner would choose? a. The monopolist targets the marginal consumer's valuation of quality, whereas the soc…

14. I n the graph, ifa price ceiling is set at $4, which of the following would

14. I n the graph, ifa price ceiling is set at $4, which of the following would result? Supply Demand 10 20 30 4050 A) a shortage of 40 units B) a shortage of 20 units C) a surplu…

14. If gold and the dollar are substitutes, a cut in the Japanese discount rate

14. If gold and the dollar are substitutes, a cut in the Japanese discount rate can be expected to a. appreciate the dollar and decrease the price of gold b depreciate he dlar and…

14. In December there is a large demand for evergreen trees. They are sold on ci

14. In December there is a large demand for evergreen trees. They are sold on city corners and parking lots for Christmas. According to the law of supply, what scenario would you …

14. In an expanding economy: A. NDP exceeds GDP B. Gross private domestic invest

14. In an expanding economy: A. NDP exceeds GDP B. Gross private domestic investment exceeds depreciation C. I exceeds P D. Money GNP but not necessarily real GNP is rising 15. A …

14. In the graph, if a price ceiling is set at $4, which of the following would

14. In the graph, if a price ceiling is set at $4, which of the following would result? Supply Demand 1O 20 30 40 50 A) a shortage of 40 units B) a shortage of 20 units C) a surpl…

14. In the tollowing graph the consumer begins in equuiorin with an income o $5,

14. In the tollowing graph the consumer begins in equuiorin with an income o $5,000, facing the prices S50 and -$25. 200 120 0 50 80900 150 250 Quantity of x a. In equilibrium, un…

14. Indicate how each of the following will affect this year\'s GDP: a. You suff

14. Indicate how each of the following will affect this year's GDP: a. You suffer $10,000 of damage when you wreck your automobile. b. You win $10,000 in a state lottery. c. You s…

14. On October 1, 2012 Bartley Corporation issued 5%, 10-year bonds with a face

14. On October 1, 2012 Bartley Corporation issued 5%, 10-year bonds with a face value of $3,000,000 at 104. Interest is paid on October 1 and April 1, with any premiums or discoun…

14. Problems and Applications 08 There are four consumers willing to pay the fol

14. Problems and Applications 08 There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs Con…

14. Refer to Table 14-15. What is the low est price at which this firm would ope

14. Refer to Table 14-15. What is the low est price at which this firm would operate in the short run? a. S3. b. $4. c. S5 d. $6. 15. If the profit-maximizing quantity of producti…

14. Refer to Table 14-15. What is the lowest price at which this firm would oper

14. Refer to Table 14-15. What is the lowest price at which this firm would operate in the short run? a. S3. b. S4. c. S5. d. $6. 15. If the profit-maximizing quantity of producti…

14. Skip\'s Sealcoating Service increased its total monthly revenue from S12,000

14. Skip's Sealcoating Service increased its total monthly revenue from S12,000 to $13,500 when it raised the price of driveway repairs from $600 to $750. The price elasticity of …

14. Su ppose for a week of production a firm produces 10 wooden tables. For the

14. Su ppose for a week of production a firm produces 10 wooden tables. For the week the firm had the following costs: Build lease cost, $100 per week Labor costs (without worker …

14. Subjective performance evaluation reviews are conducted primarily because it

14. Subjective performance evaluation reviews are conducted primarily because ite atve performance evaluation doesn't usually provide good performance benchmanks s too expensive t…

14. Substitutes, complements, or unrelated? Aa Aa Data collected in the imaginar

14. Substitutes, complements, or unrelated? Aa Aa Data collected in the imaginary economy of Perturbia reveals that when the price of drof increased by 10%, the quantity of drof s…

14. Suppose Fiberboard Inc. has estimated its log-linear demand function for car

14. Suppose Fiberboard Inc. has estimated its log-linear demand function for cardboard boxes as: [ln(Boxes)] = 90 – 2.4[ln P] + 1.5[ ln(M)] + 0.3 [ln(Advt)] Where: Boxes is the qu…

14. Suppose for a w eek of production a firm produces 10 wooden tables. For the

14. Suppose for a w eek of production a firm produces 10 wooden tables. For the week the firm had the following costs Build lease cost, $100 per week Labor costs (without worker c…

14. Suppose that a firm has a monopoly on a good with the following demand sched

14. Suppose that a firm has a monopoly on a good with the following demand schedule: Price Quantity Price Quantity $10 0 $4 6 $ 9 1 $3 7 $ 8 2 $2 8 $ 7 3 $1 9 $ 6 4 $0 10 $ 5 5 a.…

14. Suppose that the demand for bentonite is given by 0-40 0.5P, where Q is in t

14. Suppose that the demand for bentonite is given by 0-40 0.5P, where Q is in tons of bentonite per day and P is the price per ton. Bentonite is produced by a monopolist at a con…

14. Suppose the demand for Head tennis rackets is D1 , illustrated in the figure

14. Suppose the demand for Head tennis rackets is D1 , illustrated in the figure to the right. Suppose the demand for Head tennis rackets is D1, illustrated in the figure to the r…

14. The Clean Development Mechanism of the Kyoto Protocol indicates that … 1) De

14. The Clean Development Mechanism of the Kyoto Protocol indicates that … 1) Developed countries can obtain credit for financing emissions reductions in developing countries 2) D…

14. The Tobin money demand model implies that a reduction in interest rates will

14. The Tobin money demand model implies that a reduction in interest rates will: cause desired money holdings to rise cause desired money holdings to fall cause desired bond hold…

14. The algebra of tax multipliers Aa Aa Consider a small country that is closed

14. The algebra of tax multipliers Aa Aa Consider a small country that is closed to trade, so its net exports are equal to zero. Suppose the following equations describe the econo…