Economics

1. The Bank of Canada\'s role and functions Aa Aa The Bank of Canada\'s target f

1. The Bank of Canada's role and functions Aa Aa The Bank of Canada's target for the annual rate of inflation is: O 0-2% 1-3 % 2-4% The Bank of Canada's major monetary tool involv…

1. The Bureau of Labor Statistics must periodically update the base year because

1. The Bureau of Labor Statistics must periodically update the base year because a.     new goods and services appear on the market b.     of quality improvements c.     of change…

1. The Cleaning Crew cleans 100 homes per week and earns a weekly economic profi

1. The Cleaning Crew cleans 100 homes per week and earns a weekly economic profit of $200. The Cleaning Crew charges $80 per home. What is the Cleaning Crew's total cost per week?…

1. The Cleaning Crew cleans 100 homes per week and earns a weekly economic profi

1. The Cleaning Crew cleans 100 homes per week and earns a weekly economic profit of $200. The Cleaning Crew charges $80 per home. What is the Cleaning Crew's total cost per week?…

1. The Cleaning Crew cleans 100 homes per week and earns a weekly economic profi

1. The Cleaning Crew cleans 100 homes per week and earns a weekly economic profit of $200. The Cleaning Crew charges $80 per home. What is the Cleaning Crew's total cost per week?…

1. The Collegetown movie theater - which is the only theater in the area- serves

1. The Collegetown movie theater - which is the only theater in the area- serves two kinds of customers: students and professors. There are 900 stu- dents and 100 professors in to…

1. The Commerce Ministry of a country conducts regular surveys on goods and serv

1. The Commerce Ministry of a country conducts regular surveys on goods and services sold within the country. Researchers at the Ministry study consumer behavior through the choic…

1. The Congress and the President just approved a tax reform bill. What changes

1. The Congress and the President just approved a tax reform bill. What changes do this bill make to taxes for businesses and individuals? Using the Aggregate Demand and Aggregate…

1. The Consumer Price Index measures inflation by using: a. all goods and servic

1. The Consumer Price Index measures inflation by using: a. all goods and services that are produced using a base-year basket b. only consumption goods and services purchased usin…

1. The Coppock Bank has $34,000,000 in deposits. If borrowings are $7,000,000, r

1. The Coppock Bank has $34,000,000 in deposits. If borrowings are $7,000,000, reserves are $3,500,000, and owner's equity is $2,000,000, what are the bank's total liabilities and…

1. The Department of Revenue wants to add more people to the unit that attempts

1. The Department of Revenue wants to add more people to the unit that attempts to collect unpaid taxes through telephone contact. As a budget analyst, what questions would you as…

1. The El Dorado Star is the only newspaper in El Dorado, New Mexico. Certainly,

1. The El Dorado Star is the only newspaper in El Dorado, New Mexico. Certainly, the Star competes with The Wall Street Journal, USA Today, and the New York Times for national new…

1. The Federal Drug Administration grants a monopoly to the producers of certain

1. The Federal Drug Administration grants a monopoly to the producers of certain pharmaceuticals by preventing other drug companies from producing the same name-brand drug. What e…

1. The Federal Reserve banks are owned by: a. the citizens of each Federal Reser

1. The Federal Reserve banks are owned by: a. the citizens of each Federal Reserve district. b. the American people as a whole. c. the Federal Government. d. commercial banks. 2. …

1. The Federal Reserve makes the reserve requirement for all money received by t

1. The Federal Reserve makes the reserve requirement for all money received by the bank to be 25%. What is the value of the simple deposit multiplier if this is the case? If Comme…

1. The Federal backing for the money in the United States comes from: Select one

1. The Federal backing for the money in the United States comes from: Select one: a. sufficient quantities of gold and silver to cover the amount of paper money in circulation. b.…

1. The First Amendment prohibits state regulation of deceptive commercial advert

1. The First Amendment prohibits state regulation of deceptive commercial advertising. (Points : 1)        True        False Question 2.2. Corporations engaging in political expre…

1. The First Bank of Fairfield Assets Liabilities Reserves $2,000 Deposits $10,0

1. The First Bank of Fairfield Assets Liabilities Reserves $2,000 Deposits $10,000 Loans 8,000 Refer to Table 16-3. The reserve ratio for this bank is A. 0 percent. B. 20 percent.…

1. The Fods correatly uses as a target for its monetary policy lthe Federal Fund

1. The Fods correatly uses as a target for its monetary policy lthe Federal Funds rate the Prime Interest rate c) MI d) Free Reserves Uise the fallowing balance shest of Fst Natio…

1. The GDP deflator is used to calculate the official estimate of inflation that

1. The GDP deflator is used to calculate the official estimate of inflation that is used to index Social Security payments (T/F) 2. In the circular-flow diagram, households: a. su…

1. The GDP is the US. If ou were redesigning the GDP measure, what are curreny n

1. The GDP is the US. If ou were redesigning the GDP measure, what are curreny not coume the GDP would you include not necessarily an accurate measure of the standard of living or…

1. The GI Bill provided educational opportunities to many young men returning fr

1. The GI Bill provided educational opportunities to many young men returning from military   service. Using a production possibilities curve, demonstrate how the GI Bill affected…

1. The Gulf Sea Turtle Conservation Group (GSTCG), a 501(c) (3) non-profit group

1. The Gulf Sea Turtle Conservation Group (GSTCG), a 501(c) (3) non-profit group of volunteers working to collect data on nesting sea turtles and to promote sea turtle conservatio…

1. The Harrod-Domar model from class assumes that a. the savings rate increases

1. The Harrod-Domar model from class assumes that a. the savings rate increases with income. b. the production function has increasing returns to scale c. depreciation is always z…

1. The Hart?Celler Act first started to allow hundreds of thousands of non-Europ

1. The Hart?Celler Act first started to allow hundreds of thousands of non-Europeans to legally migrate to America. Select one: a. True. b. False. 2. The so called "California Dre…

1. The Hart?Celler Act first started to allow hundreds of thousands of non-Europ

1. The Hart?Celler Act first started to allow hundreds of thousands of non-Europeans to legally migrate to America. Select one: a. True. b. False. 2. The so called "California Dre…

1. The HiTek Company is considering purchasing some new equipment. Operating and

1. The HiTek Company is considering purchasing some new equipment. Operating and repair costs will be $15,000 per year for the first 3 years. Beginning in year 4, costs will climb…

1. The InterCell Company wants to participate in the upcoming World Fair. To par

1. The InterCell Company wants to participate in the upcoming World Fair. To participate, the firm needs to spend $1 million in year zero to develop a showcase. The showcase will …

1. The International Labor Organization (ILO) proposes that some labor standards

1. The International Labor Organization (ILO) proposes that some labor standards are basic rights. Which of the following is NOT deemed to be part of basic rights? Select one: a. …

1. The International Trade Administration in the Department of Commerce keeps an

1. The International Trade Administration in the Department of Commerce keeps an up-to-date Web site with the easiest to access U.S. trade data. See http://tse.export.gov for thei…

1. The Law of Demand states that: A. Consumers buy a good based on many other fa

1. The Law of Demand states that: A. Consumers buy a good based on many other factors other than the price of the good B. Consumers buy less of a good as its price increases and m…

1. The MPC can be used to predict the effect of a tax increase. TRUE OR FALSE 2.

1. The MPC can be used to predict the effect of a tax increase. TRUE OR FALSE 2. A decrease in disposable income causes a shift in the consumption function. TRUE OR FALSE. 3. The …

1. The Market System is also known as: the centrally planned system since all th

1. The Market System is also known as: the centrally planned system since all the business people are required to charge the market price as determined by the government. the comm…

1. The Maroochy Chamber of Commerce is interested in determining the relationshi

1. The Maroochy Chamber of Commerce is interested in determining the relationship between the number of fine days each year and the number of interstate and overseas tourists visi…

1. The North has a budget of 1000 Silver Stags to allocate to its war effort. It

1. The North has a budget of 1000 Silver Stags to allocate to its war effort. It is to be spent on Valyrian steel and dragon glass. A ton of Valyrian steel costs 250 Silver Stags,…

1. The Obama administration substantially increased government spending on infra

1. The Obama administration substantially increased government spending on infrastructure, military, bailout for firms and other project. According to economic theory this should:…

1. The Omnibus Corporation finds that its daily costs are $50 when it produces n

1. The Omnibus Corporation finds that its daily costs are $50 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use…

1. The Present value of an infinite stream of dollar payments of $z (that starts

1. The Present value of an infinite stream of dollar payments of $z (that starts next year) is $z/I when the nominal interest rate, I, is constant. This formula gives the price of…

1. The SRAS is __________; the LRAS is __________. a. upward sloping; upward slo

1. The SRAS is __________; the LRAS is __________. a. upward sloping; upward sloping b. upward sloping; vertical c. vertical; upward sloping d. vertical; vertical 2. If the nation…

1. The SUBSTITUTION effect is caused by a change in INCOME. 2. Even If people re

1. The SUBSTITUTION effect is caused by a change in INCOME. 2. Even If people really need something, they will NOT ALWAYS have a LARGE demand for it. True or False? Pick one: Ball…

1. The Shoe Club. Imelda is considering joining a shoe club. Once you join, you

1. The Shoe Club. Imelda is considering joining a shoe club. Once you join, you must pay for eight years of membership. The initial membership is $7000. The annual fee is $3,000 f…

1. The Sit ‘N Sip Tearoom has an outdoor deck where customers can sit outside on

1. The Sit ‘N Sip Tearoom has an outdoor deck where customers can sit outside on nice days and sip their tea. Next door to the tearoom is the Flowerchild Nursery, which grows flow…

1. The Tokyo Bay Aqualine bridge and tunnel cuts travel time by an hour between

1. The Tokyo Bay Aqualine bridge and tunnel cuts travel time by an hour between some points in the Tokyo region and costs ¥3,000 for the kind of vehicle most Americans in Japan dr…

1. The U. S. has committed itself to creating a free trade zone between the U.S.

1. The U. S. has committed itself to creating a free trade zone between the U.S., Canada and Mexico. Why might this be important? Relative to imports and exports to other nations,…

1. The U. S. has committed itself to creating a free trade zone between the U.S.

1. The U. S. has committed itself to creating a free trade zone between the U.S., Canada and Mexico. Why might this be important? Relative to imports and exports to other nations,…

1. The U. S. has committed itself to creating a free trade zone between the U.S.

1. The U. S. has committed itself to creating a free trade zone between the U.S., Canada and Mexico. Why might this be important? Relative to imports and exports to other nations,…

1. The U.S. dollar is currently trading for 1.31 Bulgarian levas (BGN) per dolla

1. The U.S. dollar is currently trading for 1.31 Bulgarian levas (BGN) per dollar. If the exchange rate adjusts to 1.5 Bulgarian levas per 1 U.S. dollar then the BGN has appreciat…

1. The U.S. government wants to encourage the development of a pharmaceutical dr

1. The U.S. government wants to encourage the development of a pharmaceutical drug to cure HIV/AIDS. If developed, the demand per year for the medicine would be Q = 100,000,000-40…

1. The U.S. has experienced sizable balance of payments deficits over the past t

1. The U.S. has experienced sizable balance of payments deficits over the past three decades. This trend has continued in the past decade, with our trade deficit becoming even lar…

1. The U.S. produces oil, but does not produce enough to satisfy demand from con

1. The U.S. produces oil, but does not produce enough to satisfy demand from consumers. There is a world price for oil where all participating countries can purchase crude oil for…