Economics

1. Economic growth around the world Aa Aa The following table reports real GDP i

1. Economic growth around the world Aa Aa The following table reports real GDP in U.S. dollars per person for several different economies in the years 1960 and 2010. It also gives…

1. Economic growth around the world The following table reports real income per

1. Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's ave…

1. Economic growth around the world The following table reports real income per

1. Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's ave…

1. Economic growth around the world The following table reports real income per

1. Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's ave…

1. Economic growth around the world e following table reports real income per pe

1. Economic growth around the world e following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's avera…

1. Economic growth is measured as an increase in real GDP. True/False 2. Per cap

1. Economic growth is measured as an increase in real GDP. True/False 2. Per capita real GDP a) is equivalent to the real GDP level. b) is a measure of the value of output produce…

1. Economic models The following diagram presents a circular-flow model of a sim

1. Economic models The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set …

1. Economic models The following diagram presents a circular-flow model of a sim

1. Economic models The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set …

1. Economic theory leads to the conclusion that, under certain circumstances, th

1.      Economic theory leads to the conclusion that, under certain circumstances, the free-market outcome is efficient. Specifically, an outcome is said to be efficient if: a. th…

1. Economics is the study of how individuals and societies choose to use their s

1. Economics is the study of how individuals and societies choose to use their scarce resources efficiently. A-True B-False 2. In the capitalist societies, social planning has con…

1. Economics is the study of how societies use ------ resources to produce -----

1. Economics is the study of how societies use ------ resources to produce ------ and distribute them among different people. a. abundant; tires               b. scarce; commoditi…

1. Economists consider which of the following costs to be irrelevant to a short-

1. Economists consider which of the following costs to be irrelevant to a short-run business a) opportunity cost, b) out-of-pocket cost, c) historical cost, d) replacement cost. 2…

1. Economists define economic growth as a. an increase in nominal GDP combined w

1. Economists define economic growth as a. an increase in nominal GDP combined with price stability. b. the process through which the economy’s potential output is increased. c. a…

1. Ed Parker, the former head of Ameriquest’s Mortgage Fraud Investigations Depa

1. Ed Parker, the former head of Ameriquest’s Mortgage Fraud Investigations Department was lost his job because he originated $10 million of loans for Ameriquest that defaulted af…

1. Effects on Soybean Farmers: Perfect Competition. Suppose you are a lobbyist e

1. Effects on Soybean Farmers: Perfect Competition. Suppose you are a lobbyist economist hired by the American Soybean Association who rep- resents over 300, 000 U.S. soybean farm…

1. Electrotech, a maker of household smoke detectors, buys resistors for its smo

1. Electrotech, a maker of household smoke detectors, buys resistors for its smoke alarms for $.15 each. The resistor manufacturer marks-up the resistors from $.10. Does the resis…

1. Emilio buys pizza for $10 and soda for $2. He has d. 4, 2 Charlie buys only m

1. Emilio buys pizza for $10 and soda for $2. He has d. 4, 2 Charlie buys only milk and cereal. Milk is a normal good, while cereal is an inferior good. When the price of milk ris…

1. Employee benefits have become more and more an important part of employee com

1.      Employee benefits have become more and more an important part of employee compensation. According to the text, what percentage of employee compensation is employee benefit…

1. Entrepreneurs in purely competitive industries: a. have no incentive to innov

1. Entrepreneurs in purely competitive industries: a. have no incentive to innovate because in the long run they will earn no economic profits. b. have no incentive to innovate be…

1. Entreprenuership: a. is costly to create and cannot be protected by cpyright

1. Entreprenuership: a. is costly to create and cannot be protected by cpyright and patents b. confers poperty righst to an original creation of an author, srtist, or producer c. …

1. Epson’s office printer price increased from $97 to $150. At the same time the

1. Epson’s office printer price increased from $97 to $150. At the same time the quantity demanded for printer ink decreased from 260 to 160. Calculate the cross price elasticity …

1. Establish Broad Goals to Guide Government Decision Making. A government shoul

1. Establish Broad Goals to Guide Government Decision Making. A government should have broad goals that provide overall direction for the government and serve as a basis for decis…

1. Estimate a simple linear regression Home-price = + ASOF + 2Yearbuit + 3Crime-

1. Estimate a simple linear regression Home-price = + ASOF + 2Yearbuit + 3Crime-rate + u using a random sample of houses in CA. If the error u captures other amenities in the neig…

1. Estimated Short-Run and Long Run Price Elasticity of Demand for Selected Comm

1. Estimated Short-Run and Long Run Price Elasticity of Demand for Selected Commodities, United States Elasticity Commodity Short-Run Long Run Clothing 0.90 2.90 Household natural…

1. Evaluate the following statement true or false :\"Price discrimination is pos

1. Evaluate the following statement true or false :"Price discrimination is possible when a good is sold in a perfectly competitve market." True, because perfectly competitive fir…

1. Evaluate the following statement: The more inelastic the supply of labor, the

1. Evaluate the following statement: The more inelastic the supply of labor, the more likely it is that incidence of employers’ share of the payroll tax falls on workers. - 2. Exp…

1. Examine each of the following scenarios in the market for loanable funds. Exp

1. Examine each of the following scenarios in the market for loanable funds. Explain the impacts on private savings, private investment spending, and the rate of interest under ea…

1. Examples of costly monitoring in healthcare include (Points : 1) Time clocks

1. Examples of costly monitoring in healthcare include (Points : 1)        Time clocks for employees        Expense account audits        Utilization review        All of the abov…

1. Exchange-rate essentials Aa Aa Use the information in this table to answer th

1. Exchange-rate essentials Aa Aa Use the information in this table to answer the questions that follow. Exchange Rates On May 1, 2008 On May 1, 2009 Country (Currency) Currency S…

1. Excludability matters because it: a.creates a perceived scarcity that allows

1. Excludability matters because it: a.creates a perceived scarcity that allows the seller to keep the price artificially high. b.allows consumers to control the price of a good. …

1. Exhibit 8-2 Total cost and total revenue for a firm in a perfectly competitiv

1. Exhibit 8-2 Total cost and total revenue for a firm in a perfectly competitive wool blanket market Cost Demand Q TC Q TR 0 $30   0 $0 1 33 1 10 2 37 2 20 3 42 3 30 4 51 4 40 5 …

1. Exhibit U-8 presenting firm A and tirm B to answer the following questions. A

1. Exhibit U-8 presenting firm A and tirm B to answer the following questions. All underlyung work must be shown (4 pounts) e. Refer to your answer above. Explai what wll happen a…

1. ExpIain with the heIp of graphs h0w a flrm mlnlmlzes costs in the long run 2.

1. ExpIain with the heIp of graphs h0w a flrm mlnlmlzes costs in the long run 2. Draw a graph 0f a market for a flrm ln a perfectIy competltive lndustry. lndicate the short run pr…

1. Expansionary fiscal policy in the AD-AS model A hypothetical economy was orig

1. Expansionary fiscal policy in the AD-AS model A hypothetical economy was originally operating at its potential output level of s132 billion and a price level of 130. This is il…

1. Expansionary fiscal policy that raises the budget deficit may ____ business i

1. Expansionary fiscal policy that raises the budget deficit may ____ business investment by ___ interest rates. a. reduce, reducing b. reduce, increasing c. increase, increasing …

1. Expectations of inflation are assumed to be constant at each point on a given

1. Expectations of inflation are assumed to be constant at each point on a given short-run Phillips curve. Answer: True False 2.After some debate, the Fed has adopted an: Choose o…

1. Explain (i) the meaning (i.e., define—what is it or what does it mean?) and (

1.       Explain (i) the meaning (i.e., define—what is it or what does it mean?) and (ii) the significance of the following within MMT. a. “taxes drive money” b. “we can think of …

1. Explain How did the first banks originate? 5. Summarizing Use your notes and

1. Explain How did the first banks originate? 5. Summarizing Use your notes and a chart lile 2. a. Define Write a brief definition for the terms one here to summarize the differen…

1. Explain briefly why generally government shouldn’t place taxes in markets tha

1. Explain briefly why generally government shouldn’t place taxes in markets that have pre-existing distortions. Be specific. Give an example where taxes can improve the distortio…

1. Explain concisely what the free rider problem is and what experiments show ab

1. Explain concisely what the free rider problem is and what experiments show about how subjects behave in setting where they have to contribute to the provision of a common (or p…

1. Explain how each of the following events affects the monetary base, the M1 mo

1. Explain how each of the following events affects the monetary base, the M1 money supply , and the M2 money supply of these respective countries (ignore the multiplier). a)In th…

1. Explain how each of the following transactions generates two entries Explain

1. Explain how each of the following transactions generates two entries Explain how each of the following transactions generates two entries-a credit and a debit-in the American b…

1. Explain how each of the following will affect the relative values of the doll

1. Explain how each of the following will affect the relative values of the dollar and the French franc:                 -Income growth higher in the United States than in France.…

1. Explain how each of the following will affect the relative values of the doll

1. Explain how each of the following will affect the relative values of the dollar and the French franc: a. Income growth higher in the United States than in France. b. Inflation …

1. Explain how each of the following will affect the relative values of the doll

1. Explain how each of the following will affect the relative values of the dollar and the French franc: a. Income growth higher in the United States than in France. b. Inflation …

1. Explain how international trade has altered the U. S. domestic manufacturing

1. Explain how international trade has altered the U. S. domestic manufacturing base. How has it made it more or less competitive? 2. In theoretical terms, explain the relation be…

1. Explain how international trade has altered the U. S. domestic manufacturing

1. Explain how international trade has altered the U. S. domestic manufacturing base. How has it made it more or less competitive? 2. In theoretical terms, explain the relation be…

1. Explain how monetary policy works as if you are talking to someone who did no

1. Explain how monetary policy works as if you are talking to someone who did not study economics. 2. A statement by the Federal Reserve’s Federal Open Market Committee (FOMC) rel…

1. Explain how these two types of innovation were used to drive up profits. (Bre

1. Explain how these two types of innovation were used to drive up profits. (Breakthrough innovation Sustaining innovation) a. Discuss the 2 key factors required to drive up profi…

1. Explain if each of the following statements is true or not: i. If average pro

1. Explain if each of the following statements is true or not: i. If average product is increasing, marginal product must be less than average product. ii. If marginal product is …