Economics

1. Many pharmaceuticals produced in the United States are sold at lower prices i

1. Many pharmaceuticals produced in the United States are sold at lower prices in other countries than in the United States. Proposed legislation would allow drugs sold by U.S. fi…

1. Many products, such as golf clubs, are made with graphite-epoxy resins becaus

1. Many products, such as golf clubs, are made with graphite-epoxy resins because it's strong and lightweight. If a new tchnology reduced the cost of producing graphite-exposy, th…

1. Many southern farmers face a choice between planting peanuts or cotton. In 20

1. Many southern farmers face a choice between planting peanuts or cotton. In 2011, farmers anticipated higher prices for cotton. In the market for peanuts in 2011, there would be…

1. Marcie quit her job as a preschool teacher, which paid an annual salary of $2

1. Marcie quit her job as a preschool teacher, which paid an annual salary of $28,000, and became a street food vendor. She used $8,000 out of her savings account that paid a 4% a…

1. Marginal Analysis. Characterize each of the following statements as true or f

1. Marginal Analysis. Characterize each of the following statements as true or false, and explain your answer.' a. If marginal revenue is less than average revenue, the demand cur…

1. Marginal costs rise because: A.The marginal productivity of labor falls due t

1. Marginal costs rise because: A.The marginal productivity of labor falls due to the onset of diminishing returns. B. The average productivity of labor falls because of decreasin…

1. Marginal resource cost is A) the increase in total resource cost associated w

1. Marginal resource cost is A) the increase in total resource cost associated with the production of one more unit of output. B) the increase in total resource cost associated wi…

1. Marginal revenue product is defined as the change in total revenue that resul

1. Marginal revenue product is defined as the change in total revenue that results from the employment of an additional unit of a resource. A widget producer wishes to determine h…

1. Marginal tax brackets Aa Aa The amount of federal income taxes that you are r

1. Marginal tax brackets Aa Aa The amount of federal income taxes that you are required to pay is based on your filing status, your taxable income and the IRS tax rate tables. The…

1. Marie is a college student looking for a job, but the avaliable jobs pay $9 p

1. Marie is a college student looking for a job, but the avaliable jobs pay $9 per hour and she thinks it is worth working only if what she earns in an hour is enough to pay for a…

1. Marie’s Car Dealership is the only dealership in Victorville, California. The

1. Marie’s Car Dealership is the only dealership in Victorville, California. The owner, Marie, experiences large economies of scale. Because she is the only seller of cars in the …

1. Market demand for widgets can be determined by the following equation: Q 1000

1. Market demand for widgets can be determined by the following equation: Q 1000 2P Thus, for example, if the price is S20, then consumers would want to purchase a total of 960 wi…

1. Market demand is A) a movement along the demand curve in response to the mark

1. Market demand is A) a movement along the demand curve in response to the market. B) the demand for and supply of a good or service C) the total quantities demanded of all consu…

1. Market structures Aa Aa For each of the following scenarios, identify the num

1. Market structures Aa Aa For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model Select the matching ent…

1. Market structures Aa Aa For each of the following scenarios, identify the num

1. Market structures Aa Aa For each of the following scenarios, identify the number of fims present, the type of product, and the appropriate market model. Select the matching ent…

1. Market structures For each of the following scenarios, identify the number of

1. Market structures For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry fo…

1. Marketers are skilled at stimulating demand for their products, but that’s a

1. Marketers are skilled at stimulating demand for their products, but that’s a limited view of what they do. Just as production and logistics professionals are responsible for su…

1. Marketers gain insight about their customers by using information gathered th

1. Marketers gain insight about their customers by using information gathered through customer relationship management and loyalty programs. This information helps marketers to __…

1. Marketing traditionally has been divided into a set of four interrelated deci

1. Marketing traditionally has been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT: A. product B. …

1. Marxian Theory suggests? A violent revolution can\'t be avoided The business

1. Marxian Theory suggests? A violent revolution can't be avoided The business person will steal the surplus The worker unit creates enough to sustain themselves plus a surplus Al…

1. Match the fo llowing terms with the appropriate definition: Definition # Term

1. Match the fo llowing terms with the appropriate definition: Definition # Term Sunk costs Indirect costs Prime costs Fixed costs Opportunity costs Conversion costs Factory overh…

1. Match the terms with their corresponding descriptions. Firms\' costs associat

1. Match the terms with their corresponding descriptions. Firms' costs associated with changing their prices. When workers respond not to the purchasing power of their wage but to…

1. Maximizing the total wage bil On the following graph, the blue line represent

1. Maximizing the total wage bil On the following graph, the blue line represents a certain industry's annuallabor demand curve this industry, and they all belong to the industry …

1. Maybelline recently introduced a high-end lip balm called Baby Lips. The nati

1. Maybelline recently introduced a high-end lip balm called Baby Lips. The national target market is female, age 24 – 34, income $45,000 and higher. The current price is $5.00. F…

1. Measuring employment, unemployment, and labor force participation Consider a

1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Shen, Valerie, Antonio, Caroline, Frances, and Dmitri. Each p…

1. Measuring employment, unemployment, and labor force participation Consider a

1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Yakov, Ana, Charles, Dina, Juanita, and Gilberto. Each person…

1. Measuring employment, unemployment, and labor force participation Consider a

1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Musashi, Rina, Sean, Yvette, Cho, and Bob. Each person's empl…

1. Measuring employment, unemployment, and labor force participation Consider a

1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Kenji, Lucia, Paolo, Sharon, Amy, and Van. Each person's empl…

1. Median voter outcome Consider the race for governor of a small state. The pop

1. Median voter outcome Consider the race for governor of a small state. The population of the state is evenly divided between three cities—Riverville, Elmswood, and Clinton. The …

1. Medicare administration costs are approximately $500 per year per person cove

1. Medicare administration costs are approximately $500 per year per person covered by Medicare. This is about 4.5% of the total annual health care expenses covered by Medicare. U…

1. Medicare administration costs are approximately $500 per year per person cove

1. Medicare administration costs are approximately $500 per year per person covered by Medicare. This is about 4.5% of the total annual health care expenses covered by Medicare. U…

1. Melinda is looking for work as an accountant. Her prospects are good but she

1. Melinda is looking for work as an accountant. Her prospects are good but she has not accepted any job offer yet. Jane is looking for work in a sugar factory. Every time she sho…

1. Menard quit his high-school teaching job, which paid $60,000 per year, to sta

1. Menard quit his high-school teaching job, which paid $60,000 per year, to start a business preparing students for the SAT exam. His first year in business generated the followi…

1. Micah and Jeremy both watched the Sugar Bowl football game on television. Mic

1. Micah and Jeremy both watched the Sugar Bowl football game on television. Micah was especially interested in the ads for Ford and GMC trucks because he is planning on buying a …

1. Monetarism’s view of fiscal policy is: the best way to “pump up” the economy.

1. Monetarism’s view of fiscal policy is: the best way to “pump up” the economy. the responsibility of the executive branch instead of the legislative branch. not really practical…

1. Monetary policy directly affects: A) social spending. B) tax rates. C) the av

1. Monetary policy directly affects: A) social spending. B) tax rates. C) the availability of credit. D) the antitrust laws. 2. True/False, Explain. In the AS/AD model, expansiona…

1. Monetary policy is impacted by the foreign sector through A. The additional i

1. Monetary policy is impacted by the foreign sector through A. The additional investment choice of foreign assets B. The ability to move and hold wealth internationally C. Intere…

1. Money is legal tender if: a. it is backed by gold or silver. b. it is in a ba

1. Money is legal tender if: a. it is backed by gold or silver. b. it is in a bank account. c. it is commodity money. d. people willingly accept it in payment of debts. e. the gov…

1. Monopolist & Elasticity of Demand (5 points) Price peruni Panel (a) Dollars P

1. Monopolist & Elasticity of Demand (5 points) Price peruni Panel (a) Dollars Panel (b) Total revenue Demand curve Curve C Quantity per period Quantity per period If price is…

1. Monopolistic competition is different from perfect competition in what key fa

1. Monopolistic competition is different from perfect competition in what key factor? A. Number of sellers B. Number of buyers C. Differentiated products D. Equilibrium Price 2. W…

1. Monopoly is a market structure in which: a) one firm makes up the entire mark

1. Monopoly is a market structure in which: a) one firm makes up the entire market. b) a few firms dominate the market. c) many firms produce differentiated products. d) many firm…

1. Monopoly is characterized by 1) One seller 2) Complete barriers to entry 3) A

1. Monopoly is characterized by 1) One seller 2) Complete barriers to entry 3) Ability to set prices True  or False ? 2. Market power relates to the ability of sellers to affect c…

1. Monopoly outcome versus competition outcome Consider the daily market for hot

1. Monopoly outcome versus competition outcome Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium with many ho…

1. Moral Hazard in health care usually refers to the additional consumption of m

1. Moral Hazard in health care usually refers to the additional consumption of medical care by the insured relative to the uninsured; that is, as the price falls to zero, people c…

1. Most Taxes a. Are paid partly by producers and partly by consumers b. Must be

1. Most Taxes a. Are paid partly by producers and partly by consumers b. Must be collected from buyers in order to get buyers to pay their share c. All options are correct d. Incr…

1. Most credit cards charge a relatively high rate of interest, yet many people

1. Most credit cards charge a relatively high rate of interest, yet many people carry them, including people who would be considered low-risk borrowers. Our discussion of adverse …

1. Most economists agree that taxes should be designed with broad bases and rela

1. Most economists agree that taxes should be designed with broad bases and relatively low tax rates – so-called BBLR. Explain why low tax rates and comprehensive tax bases lead t…

1. Most financial decisions involve two related elements a. advice and consent.

1. Most financial decisions involve two related elements a. advice and consent. b. investment and taxes. c. time and risk. d. saving and consumption. 2. If the interest rate is 7.…

1. Motivation for trade includes all of the following except a. To increase outp

1. Motivation for trade includes all of the following except a. To increase output due to specialization. b. To be able to import goods that are cheaper than those you can make yo…

1. Ms. Lee Ding is considering whether the following capitol project should be u

1. Ms. Lee Ding is considering whether the following capitol project should be undertaken. Its life is 6 years; it has a 6% salvage value; and her firm uses a 12% MARR. Initial Co…