Economics

The law of increasing opportunity costs is a result of the fact that: Choose one

The law of increasing opportunity costs is a result of the fact that: Choose one answer. a. the value of the dollar has declined over time. b. wage rates rise as the economy reach…

The law of increasing opportunity costs states that Multiple Choice f the prices

The law of increasing opportunity costs states that Multiple Choice f the prices of all the resources used to produce goods increase, the cost of producing any particular good wil…

The law of increasing opportunity costs states that: if society wants to produce

The law of increasing opportunity costs states that: if society wants to produce more of a particular good, it must sacrifice larger and larger amounts of other goods to do so. th…

The law of supply A states that price and quantity supplied are inversely relate

The law of supply A states that price and quantity supplied are inversely related. B. states that price and quantity supplied are directly related. C. is identical to the law of d…

The legal system used in the United States originated in what country or empire?

The legal system used in the United States originated in what country or empire? Which legal system is used in the United States? Which best describes the doctrine of stare decisi…

The legislated legal limit on the national debt is called the Question 7 options

The legislated legal limit on the national debt is called the Question 7 options: A) net public debt. B) debt ceiling. C) internal national debt. D) external national debt. How mu…

The less responsive consumers are to a change in the price of a product, _____.

The less responsive consumers are to a change in the price of a product, _____. a. the more price-inelastic is the demand curve b. the more income-inelastic is the demand curve c.…

The level of prices and the value of money Imagine the price level reflects the

The level of prices and the value of money Imagine the price level reflects the number of dollars needed tp buy a basket of goods containing one cup of tea, one biscuit, and one m…

The level of prices and the value of money Suppose the price level reflects the

The level of prices and the value of money Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one cup of tea, one biscuit, and one m…

The level of public debt has been increasing significantly in the USA. The US fe

The level of public debt has been increasing significantly in the USA. The US federal and state governments are planning to increase taxes to finance their debt expenses (principa…

The liabilities and? owners\' equity for Campbell Industries is found? here:?. a

The liabilities and? owners' equity for Campbell Industries is found? here:?. a.??What percentage of the? firm's assets does the firm finance using debt? (liabilities)? b.??If Cam…

The liquidity trap Refers to the vertical portion of the money demand curve Refe

The liquidity trap Refers to the vertical portion of the money demand curve Refers to the possibility that interest may not respond to changes in the money supply Implies that peo…

The list on the right shows how much corn each man adds to the out of corn a far

The list on the right shows how much corn each man adds to the out of corn a farm can produce using various different amounts of labor and one acre of land. This firm can sell the…

The list on the right shows how much corn each man adds to the out of corn a far

The list on the right shows how much corn each man adds to the out of corn a farm can produce using various different amounts of labor and one acre of land. This firm can sell the…

The local Shreveport-Bossier Paralegal Union has observed that the Bureau of Lab

The local Shreveport-Bossier Paralegal Union has observed that the Bureau of Labor Statistics projects that employment of paralegals over the next decade will rise considerably fa…

The local community bus service, which is a monopoly, charges $2.00 for a one-wa

The local community bus service, which is a monopoly, charges $2.00 for a one-way fare. The city council is thinking of raising the fare to $2.50 but expects it to generate less t…

The local community bus service, which is a monopoly, charges $2.00 for a one-wa

The local community bus service, which is a monopoly, charges $2.00 for a one-way fare. The city council is thinking of raising the fare to $2.50 but expects it to generate less t…

The local garbage company charges $6 a month for garbage collection. It had been

The local garbage company charges $6 a month for garbage collection. It had been their practice to send out bills to their 100,000 customers at the end of each 2 month period. Thu…

The local popcorn market consists of 3 firms, Larry\'s Popcorn, Darryl\'s Popcor

The local popcorn market consists of 3 firms, Larry's Popcorn, Darryl's Popcorn, and Frank's Popcorn. If the price of a bag of popcorn is $3, Larry's supplies 100 bags, Darryl's s…

The local supermarket buys lettuce each day to ensure really fresh produce. Each

The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farm…

The local supermarket buys lettuce each day to ensure really fresh produce. Each

The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farm…

The local zoo has hired you to assist them in setting admission prices. The zoo\

The local zoo has hired you to assist them in setting admission prices. The zoo's managers recognize that there are two distinct demand curves for zoo admission. One demand curve …

The location of the ____ curve depends on the economy\'s supply of land, supply

The location of the ____ curve depends on the economy's supply of land, supply of capital, supply of labor, entrepreneurial ability, and productivity of its scarce resources; it d…

The long run aggregate supply curve is Question 5 options: upward sloping. downw

The long run aggregate supply curve is Question 5 options: upward sloping. downward sloping. vertical. horizontal. Which of the following events would cause the aggregate supply c…

The long run is a time period in which a. economic efficiency is achieved. b. th

The long run is a time period in which a. economic efficiency is achieved. b. the quantities of all inputs can be varied. c. the firm is able to maximize its profits. d. the firm …

The long run is characterized by: A. The relevance of the law of diminishing ret

The long run is characterized by: A. The relevance of the law of diminishing return B. At least one fixed input C. Insuffcient time for firms to enter or leave the industry D. The…

The long run natural rate of unemployment is 5%. The current rate of unemploymen

The long run natural rate of unemployment is 5%. The current rate of unemployment is 3% what do we expect to happen if no policy is used. If no policy is used in the long run we w…

The long-run Fisher effect links rises in inflation with rises in nominal intere

The long-run Fisher effect links rises in inflation with rises in nominal interest rates by the same proportion, resulting in the demand for real money balances. A) no effect on B…

The long-run aggregate supply of an economy at the potential level of real GDP i

The long-run aggregate supply of an economy at the potential level of real GDP is graphically represented by: A) a horizontal line. B) an upward-sloping curve. C) a downward-slopi…

The long-run effect of Federal Reserve action (or inaction)in the AD-AS model Th

The long-run effect of Federal Reserve action (or inaction)in the AD-AS model The following graph shows the short-run aggregate supply (SRAS) and aggregate demand (AD) curves for …

The long-run effect of higher government budget deficits on the equilibrium annu

The long-run effect of higher government budget deficits on the equilibrium annual flow of real GDP is zero. Who, therefore, benefits in the long run from higher government defici…

The long-run production function for a rm\'s product is given by q = f(K; L) = 5

The long-run production function for a rm's product is given by q = f(K; L) = 5 K L. The price of capital is $10 and the price of labor is $15. a. Suppose the rm wishes to produce…

The long-run supply curve under pure competition will be: Downsloping in a decre

          The long-run supply curve under pure competition will be:               Downsloping in a decreasing-cost industry and upsloping in an increasing-cost industry           …

The long-term employment relationship Stelios is a recent graduate who is starti

The long-term employment relationship Stelios is a recent graduate who is starting a job at an insurance company. The firm is known for providing long-term employment and generous…

The long-term interest rate ______. A. is generally a bit higher than the short-

The long-term interest rate ______. A. is generally a bit higher than the short-term interest rate because long-term loans are riskier than short-term loans B. fluctuates more tha…

The lure of spices during the medieval period wasn\'t driven merely by the desir

The lure of spices during the medieval period wasn't driven merely by the desire to improve the taste of food (Europe produced saffron, thyme, bay leaves, oregano, and other spice…

The magority of the world\'s diamonds comes from Country A and Country B. Suppos

The magority of the world's diamonds comes from Country A and Country B. Suppose that the marginal cost of minning a diamond is 1,000 per diamond and that the demand schedule for …

The main components of developmental policy in Singapore. Eliminate the incorrec

The main components of developmental policy in Singapore. Eliminate the incorrect answer The highest electronics export per capita in the world State firms produce 60 % of the GPD…

The main cost of monetary union is Question 26 options: The loss of national mon

The main cost of monetary union is Question 26 options: The loss of national monetary and exchange rate policy independence Increased exchange rate uncertainty Lessened political …

The main criticism by economists about advertising is that O advertising will le

The main criticism by economists about advertising is that O advertising will lead to lower quality products O the expense of ads will raise average total cost O advertising will …

The main difference between Real GDP and nominal GDP is that real GDP measures u

The main difference between Real GDP and nominal GDP is that real GDP measures unemployment, nominal GDP also measures unemployment but for future True False A consumer price inde…

The main difference between the short run and the long run is that: in the short

The main difference between the short run and the long run is that: in the short run all inputs are fixed, while in the long run all inputs are variable. in the short run the firm…

The main difference between variable taxes and fixed taxes is that unlike variab

The main difference between variable taxes and fixed taxes is that unlike variable taxes, fixed taxes The following graph shows the consumption schedule for an economy with a give…

The main distinction between monetary and fiscal policies is that fiscal policy

The main distinction between monetary and fiscal policies is that fiscal policy involves: A) paying directly for programs B) the work of congress and the president C) determining …

The main drawback of the Herfindahl-Hirschman Index (HHI) is that: A) It only go

The main drawback of the Herfindahl-Hirschman Index (HHI) is that: A) It only goes to 100 B) It does not work for a monopoly market C) It does not work for a perfectly competitive…

The main goal of macroeconomic policy is to: Select one: a. Balance the federal

The main goal of macroeconomic policy is to: Select one: a. Balance the federal budget. b. Continue to increase GDP growth. c. Expand the trade surplus. d. Move the economy toward…

The main goal of resource development is to find ways to: A) increase the amount

The main goal of resource development is to find ways to: A) increase the amount of resources and create conditions that will make better use of those resources. B) allocate exist…

The main purpose of studying a market is to be able to predict qualitatively and

The main purpose of studying a market is to be able to predict qualitatively and quantitatively changes in prices resulting from changes in demand and supply conditions. For each …

The main reason that public goods must be provided by the government is a. the f

The main reason that public goods must be provided by the government is a. the free-rider. b. negative externalities are part of the production process. c. they are perfectly divi…

The main reason why a production possibilities frontier would have a concave sha

The main reason why a production possibilities frontier would have a concave shape is: because consumers face diminishing marginal returns in consumption. because of decreasing op…