Economics

A. Assume countries can produce two goods, X and Y. Country A can produce 5 X if

A. Assume countries can produce two goods, X and Y. Country A can produce 5 X if it uses all of its resources for X production or 5 Y if it uses all resources for Y production. Co…

A. Average variable costs/ marginal costs/ average total costs/ average fixed co

A. Average variable costs/ marginal costs/ average total costs/ average fixed costs B. Produce more/ produce less/ shut down C. Increase/ decrease D. Equal/ farthest apart Minimiz…

A. B. If membership falls in labor unions and unions become less popular, then:

A. B. If membership falls in labor unions and unions become less popular, then: production costs will increase, SRAS will shift to the left, decreasing equilibrium GDP and increas…

A. B. Reference: Ref 12-1 The permanent income hypothesis suggests that consumer

A. B. Reference: Ref 12-1 The permanent income hypothesis suggests that consumer: spending depends on income people expect over the long term rather than on current income. spendi…

A. Below are some data from the land of milk and honey. Year Price of Milk Quant

A. Below are some data from the land of milk and honey. Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey 2010 $1 100 quarts $2 50 quarts 2011 $1 200 $2 100 201…

A. Budget deficits increased due to expansionary fiscal policy. B. Budget defici

A. Budget deficits increased due to expansionary fiscal policy. B. Budget deficits increased due to automatic stabilizers. C. Budget deficits increased due to crowding-out. D. Bud…

A. Businesses can use their the game B. resources to create profit as long as th

A. Businesses can use their the game B. resources to create profit as long as they do so within the r ms should not go beyond their economic responsability to increase oformance u…

A. Calculate (approximately) how many years it will take for real GDP to double

A. Calculate (approximately) how many years it will take for real GDP to double in each of the following cases. i. The growth rate of China is 8% ii. The growth rate of Brazil is …

A. Canada has a Comparative Advantage in producing wheat. Explain what this mean

A. Canada has a Comparative Advantage in producing wheat. Explain what this means. B. Suppose that demand for wheat in China increases by a large amount, relative to world supply.…

A. China has more resources to produce textiles than the United States. B. China

A. China has more resources to produce textiles than the United States. B. China has a comparative advantage over the United States in producing textiles. C. The United States can…

A. Compute the real exchange rate the cost of living in the US relative to that

A. Compute the real exchange rate the cost of living in the US relative to that is the UK given the following information: Pus = $240, Puk= 200 pounds, Epound/dollar = 0.75 pound/…

A. Consider the following scenario concerning the United States (US) and Canada

A. Consider the following scenario concerning the United States (US) and Canada (Can): In this scenario, the US has an opportunity cost of _________ for producing one more car 1. …

A. Consumer Surplus from Lunch at McDonald\'s Jeremy and Latisha are students wh

A. Consumer Surplus from Lunch at McDonald's Jeremy and Latisha are students who regularly buy hamburgers at McDonald's for lunch. The table shows their daily marginal benefit (MB…

A. Copyrights protect the intellectual property of artists, photographers, and a

A. Copyrights protect the intellectual property of artists, photographers, and authors. B. Patents grant monopoly power. C. Patents can be obtained for new inventions and innovati…

A. Data for the market for graham crackers is shown below. Calculate the elastic

A. Data for the market for graham crackers is shown below. Calculate the elasticity of demand between the following prices. Now, assume the price of graham crackers is $2.75. Shou…

A. Describe how a contractionary monetary policy impacts a nation\'s internation

A. Describe how a contractionary monetary policy impacts a nation's international trade. Be sure to discuss the value of that nation's currency, the price of goods produced in tha…

A. Describe the initial market where income is $1000/mth. Include the equilibriu

A. Describe the initial market where income is $1000/mth. Include the equilibrium and price-elasticities of supply and demand. Briefly discuss how your answer is affected by round…

A. Describe the various instruments of monetary policy and how they are used. B.

A. Describe the various instruments of monetary policy and how they are used. B. Through what channels does monetary policy affect the economy? That is, what are the monetary poli…

A. Describe three tools the Fed can use to raise interest rates. For each tool,

A. Describe three tools the Fed can use to raise interest rates. For each tool, clearly state how it is used for this objective. 3-7 sentences. B.Suppose that the reserve requirem…

A. Describe three tools the Fed can use to raise interest rates. For each tool,

A. Describe three tools the Fed can use to raise interest rates. For each tool, clearly state how it is used for this objective. 3-7 sentences. B.Suppose that the reserve requirem…

A. Determine whether demand or supply changes or if the event instead causes a c

A. Determine whether demand or supply changes or if the event instead causes a change in quantity demanded or quantity supplied. B. State whether the change is an increase or decr…

A. Direct subsidies: C. Production subsidies B. Performance subsidies D. Tax bre

A. Direct subsidies: C. Production subsidies B. Performance subsidies D. Tax break 7. Individuals and companies involved in trade have to know as much as possible about the condit…

A. Expansionary, higher unemployment, contractionary B. Expansionary; a higher i

A. Expansionary, higher unemployment, contractionary B. Expansionary; a higher inflation rate, contractionary C. Contractionary; higher unemployment ,expansionary D. Contractionar…

A. Explain how a radio signal (such as Energy 99.7) meets the definition of a pu

A. Explain how a radio signal (such as Energy 99.7) meets the definition of a public good. Although this true, why do private companies own radio stations (again like Energy 99.7)…

A. Federal Open Market Committee B. If the source of economic instability is due

A. Federal Open Market Committee B. If the source of economic instability is due to variations in private or public spending C. Federal Reserve Bank of New York D. If the source o…

A. Fill in the formula for AFC, AVC, ATC, and MC at the top of the column in the

A. Fill in the formula for AFC, AVC, ATC, and MC at the top of the column in the gray section within the table. B. Fill in the missing values for TFC, TVC, AFC, AVC, ATC, and MC i…

A. Fill in the formula for MP, MRP, and Additional Profit at the top of the colu

A. Fill in the formula for MP, MRP, and Additional Profit at the top of the column in the gray sections within the table. B. Fill in the missing values for MP, MRP, and Additional…

A. Fill in the missing total utility, marginal utility, and marginal utility/pri

A. Fill in the missing total utility, marginal utility, and marginal utility/price (MU/Price). Place the final answer for each in the correct shaded area within the table below.&l…

A. Firm 1 should produce 50 beams and firm two should produce 50 beams B. Both f

A. Firm 1 should produce 50 beams and firm two should produce 50 beams B. Both firms should produce some output, but firm 2 should produce more than firm 1 C. Firm 1 should produc…

A. Government Surplus B. Government deficit C. Public Debt D. Balanced Budget Ma

A. Government Surplus B. Government deficit C. Public Debt D. Balanced Budget Match each of the following to a choice 1. Governement spends less than it takes in Select A. Governm…

A. Home . Foreign C. Cannot conclude 6. According to the figure on the right, fr

A. Home . Foreign C. Cannot conclude 6. According to the figure on the right, from TTI to TT3, thePood country has an economic growth that is: A. Not biased B. Biased towards food…

A. How do monopolistically competitive markets differ from perfectly competitive

A. How do monopolistically competitive markets differ from perfectly competitive markets? If monopolistically competitive firms are making profits in the short run, what happens i…

A. How does this matrix demonstrate mutual interdependence between the firms? B.

  A.   How does this matrix demonstrate mutual interdependence between the firms? B.  Define the term dominant strategy. Assume the firms play a non-repeated game without collusio…

A. How is the AS curve affected in the short run? The AS curve will: shift to le

A. How is the AS curve affected in the short run? The AS curve will: shift to left or remain unchanged or shift to right, B . If the fed accommodates the favorable inflation shock…

A. Identify the Beta for for Ford Motor and Apple Stocks. In your own words, wha

A. Identify the Beta for for Ford Motor and Apple Stocks. In your own words, what conclusion can you draw from the stocks’ current and historical beta? If the stock market went up…

A. If the prices of all products are rising at 5 percent per year and your emplo

A.        If the prices of all products are rising at 5 percent per year and your employer gives you a 5 percent salary increase, are you better off, worse off, or equally well of…

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, th

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, the demand of rice washigher in the year 2007 but it fell down duringthe year 2009, due to thedrop in…

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, th

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, the demand of rice washigher in the year 2007 but it fell down duringthe year 2009, due to thedrop in…

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, th

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, the demand of rice washigher in the year 2007 but it fell down duringthe year 2009, due to thedrop in…

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, th

A. If we examine the marketfor rice in Pakistan during the year 2007 and2009, the demand of rice washigher in the year 2007 but it fell down duringthe year 2009, due to thedrop in…

A. If we examine themarket for rice in Pakistan during the year 2007 and2009, th

A. If we examine themarket for rice in Pakistan during the year 2007 and2009, the demand of rice washigher in the year 2007 but it fell down duringthe year 2009, due to thedrop in…

A. In long-run equilibrium, every firm in a perfectly competitive industry earns

A. In long-run equilibrium, every firm in a perfectly competitive industry earns an economic profit. B. Pure competition exists in a market when firms are price makers as opposed …

A. In the Todaro model of migration, suppose there are 1 million people living i

A. In the Todaro model of migration, suppose there are 1 million people living in a city of which 400,000 are unemployed. Let wu (urban modern sector wage) = 8 wr (rural sector wa…

A. In their 2009 working paper Unemployment, Market Work and Household Productio

A. In their 2009 working paper Unemployment, Market Work and Household Production, Michael Burda (Humboldt University, Germany) and Daniel Hamermesh (University of Texas) examined…

A. Insurance companies must offer health insurance to everyone who applies and c

A. Insurance companies must offer health insurance to everyone who applies and charge them the same price regardless of a person's preexisting health condition. B. Everyone must b…

A. It is greater than MC. B. It occurs at the quantity where MC? = D. C. It is g

A. It is greater than MC. B. It occurs at the quantity where MC? = D. C. It is greater than MR. D. It occurs along the elastic part of the demand curve. E. It occurs at the quanti…

A. Laissez-faire is the best policy response to the businesscycle. B. Fluctuatio

A.   Laissez-faire is the best policy response to the businesscycle. B.   Fluctuations in business activity are to be expected and shouldbe accepted just as changes in the seasons…

A. New firms will enter a monopolistically competitive market if (marginal reven

A. New firms will enter a monopolistically competitive market if (marginal revenue, price) is greater than (average total cost, marginal cost). (Circle the correct answer for each…

A. Once a monopolist chooses their profit-maximizing level of output, they use t

A. Once a monopolist chooses their profit-maximizing level of output, they use the _________________________ to find the highest price it can charge for that quantity. B. For a pr…

A. Once a monopolist has determined the profit-maximizing level of output, the p

A. Once a monopolist has determined the profit-maximizing level of output, the price they should charge is given by the average total cost curve. the marginal cost curve. the marg…