Economics

The primary difference between a change in supply and a change in the quantity s

The primary difference between a change in supply and a change in the quantity supplied is: A) a change in quantity supplied is a shift in the supply curve, and a change in supply…

The primary difference between a change in supply and a change in the quantity s

The primary difference between a change in supply and a change in the quantity supplied is: Choose one answer. a. a change in quantity supplied is a shift in the supply curve, and…

The primary difference between the \"payoff and the \"purchase and assumption\"

The primary difference between the "payoff and the "purchase and assumption" methods of handling failed banks is O A. that the FDIC is more likely to use the "payoff" method when …

The primary goal of fiscal policy is to increase GDP and the primary goal of mon

The primary goal of fiscal policy is to increase GDP and the primary goal of monetary policy is to decrease GDP. True False An inflationary gap is the amount by which A. When savi…

The primary objective of the ECB is to: A) promote economic growth. B) promote f

The primary objective of the ECB is to: A) promote economic growth. B) promote full employment. C) foster an equitable distribution of income. D) maintain price stability. Which o…

The primary purpose of a quota system is to: decrease paid by consumers, increas

The primary purpose of a quota system is to: decrease paid by consumers, increase the price received by producers, generate tax revenue for the government, or all of the above? if…

The primary purpose of the Fed\'s so called QuantativeEasting as part of non con

The primary purpose of the Fed's so called QuantativeEasting as part of non conventional monetary policy action conducted since 2010 was the purchase of mortgage Backed securities…

The principal-agent problem arises when the principal and the agent have differe

The principal-agent problem arises when the principal and the agent have different objectives the principal cannot enforce the contract with the agent or finds it too costly to mo…

The principal-agent problem in corporations exists because the managers of a fir

The principal-agent problem in corporations exists because the managers of a firm 0 A. may pursue their own goals even when the result is lower profit for owners O B. may know how…

The principle of compound interest insures that a small difference in the per ca

The principle of compound interest insures that a small difference in the per capita GDP between countries in one year will grow to a large difference in the long run. U.S. intere…

The principle of diminishing marginal utility states that: A. You don\'t enjoy c

The principle of diminishing marginal utility states that: A. You don't enjoy consuming more of a good. B. You enjoy consuming more of a good if it is good. C. As you consume more…

The prisoners\' dilemma explains whyAnswer oligopolists earn zero economic profi

The prisoners' dilemma explains whyAnswer oligopolists earn zero economic profits in the long run firms with lower production costs tend to dominate oligopolistic industries carte…

The pristine River has two polluting firms on its banks. Acme Industrial and Cre

The pristine River has two polluting firms on its banks. Acme Industrial and Creative Chemicals each dump 100 tons of glop into the river each year. The cost of reducing glop emis…

The private local water utility company is a simple monopolist. Its marginal cos

The private local water utility company is a simple monopolist. Its marginal cost is constant and equal to $0.20 per gallon. Its demand curve is Q = 1,500 – 500 P. Yearly upkeep c…

The private marginal benefit a person derives from a year of education is given

The private marginal benefit a person derives from a year of education is given by PMB 110-6Q. where Q is the number of years spent in school. The private marginal cost per year o…

The private marginal benefit for commodity X is given by 10-X, where X is the nu

The private marginal benefit for commodity X is given by 10-X, where X is the number of units consumed. The private marginal cost of producing X is constant at $2. For each unit o…

The private market will lead to _____ of clean air because _____. too little con

The private market will lead to _____ of clean air because _____. too little consumption; it is nonexcludable but rival in consumption production of the socially optimal amount; t…

The prize money for the winner of the US Open Golf Championship has increased fr

The prize money for the winner of the US Open Golf Championship has increased from $1.35 Million when Tiger Woods won in 2008 to $1.8 Million when Dustin Johnson won last year (20…

The problem below asks about the oil price increase from 1973-1980. We have also

The problem below asks about the oil price increase from 1973-1980. We have also seen this in 2005 and 2010, although not as dramatic a price increase. Please answer the questions…

The problem is to maximize the function f(x; alpha ) = ax^2-(20 alpha +2)x, subj

The problem is to maximize the function f(x; alpha ) = ax^2-(20 alpha +2)x, subject to the constraints where alpha is an exogenous constant. For parts (d) and (e), you may want to…

The problem of adverse selection: A. occurs when sellers (who know more about th

The problem of adverse selection: A. occurs when sellers (who know more about the quality of what they are selling than buyers) deliberately select inferior products to sell. B. i…

The problem of asymmetric information is a major issue in the market for health

The problem of asymmetric information is a major issue in the market for health insurance. Insurance companies must be able to predict the amounts they will have to pay out to pol…

The problem of determining what goods and services societyshould produce: exists

The problem of determining what goods and services societyshould produce:        exists because we canproduce more than we need or want.        exists because there arenot enough …

The problem of lags suggests that monetary policy should respond swiftly to stat

The problem of lags suggests that monetary policy should respond swiftly to statistical reports of economic conditions in the recent past. respond to conditions expected to exist …

The problem of scarce resources a. means that in some cities there are not enoug

The problem of scarce resources a. means that in some cities there are not enough jobs b. could be solved if the unemployment rate fell c. is that there are not enough resources t…

The problems with Fannie Mae, Freddie Mac and other financial institutions were

The problems with Fannie Mae, Freddie Mac and other financial institutions were said to have been caused by the securitization of risky mortgages issued to uncreditworthy borrower…

The proce elasticity of demand for scented candles is 1.5. The price elasticity

The proce elasticity of demand for scented candles is 1.5. The price elasticity of demand for tapered candles is 2.0. The cross elasticity of demand for tapered candles with respe…

The process engineer at Strowbridge Metal works has the choice of machining a pa

The process engineer at Strowbridge Metal works has the choice of machining a particular part on either of two machines. Orders for this part re received regularly, but the order …

The producer price index measures: A. the cost of a basket of goods and services

The producer price index measures: A.  the cost of a basket of goods and services sold by producers B.  the cost of a basket of goods and services bought by firms C.  the cost of …

The producer that requires a smaller quantity of inputs to produce a certain amo

The producer that requires a smaller quantity of inputs to produce a certain amount of a good, relative to the quantities of inputs required by other producers to produce the same…

The producers of \"Spider-Man: Turn Off the Dark spent $75 million bringing thei

The producers of "Spider-Man: Turn Off the Dark spent $75 million bringing their musical to Broadway (Kevin Flynn and Patrick Healy, "How the Numbers Add Up [Way Up] for Spider-Ma…

The producers of \"Spider-Man: Turn Off the Dark spent $75 million bringing thei

The producers of "Spider-Man: Turn Off the Dark spent $75 million bringing their musical to Broadway (Kevin Flynn and Patrick Healy, "How the Numbers Add Up [Way Up] for Spider-Ma…

The product chosen for this assignment is Johnson & Johnson baby soap, also plea

The product chosen for this assignment is Johnson & Johnson baby soap, also please provide references. Examine Johnson & Johnson baby soap using the following data ($1,000…

The product development group of a high-tech electronics company developed five

The product development group of a high-tech electronics company developed five proposals for new products. The company wants to expand its product offerings, so it will undertake…

The product development group of a high-tech electronics company developed five

The product development group of a high-tech electronics company developed five proposals for new products. The company wants to expand its product offerings, so it will undertake…

The product function for the BIDDLE Company is given by, Q=L^0.3 K^0.3 E^0.1 M^0

The product function for the BIDDLE Company is given by, Q=L^0.3 K^0.3 E^0.1 M^0.18 Where Q=output, L=labor, K=operating capital, E=energy input, and M=materials. If the average p…

The product function for the BIDDLE Company is given by, Q=L^0.3K^0.3E^0.1M^0.18

The product function for the BIDDLE Company is given by, Q=L^0.3K^0.3E^0.1M^0.18 Where Q=output, L=labor, K=operating capital, E=energy input, and M=materials. If the average prod…

The production department of Celltronics International wants to explore the rela

The production department of Celltronics International wants to explore the relationship between the number of employees who assemble a subassembly and the number produced. As an …

The production engineers at Impact Industries have derived the optimal combinati

The production engineers at Impact Industries have derived the optimal combinations of labor and capital. These are the only two inputs used by Impact. The following chart shows t…

The production function below shows the different levels of output obtained with

The production function below shows the different levels of output obtained with various levels of labor input per week. Q = 360L + 9L2 – 0.2L3 a)What is the maximum level of prod…

The production function exhibits: Diminishing returns to physical capital (if ca

The production function exhibits: Diminishing returns to physical capital (if capital per worker is doubled, output per worker will increase but by less than 2x). Constant returns…

The production function for Hamburger Heaven (HH) is q=10KL. Given that the marg

The production function for Hamburger Heaven (HH) is q=10KL. Given that the marginal product of labor, MP_L = 10K, marginal product of capital, MP_k = 10L, and marginal rate of te…

The production function for Superlite Sailboats, Inc., is Q = 20(K^0.5)*(L^0.5)

The production function for Superlite Sailboats, Inc., is Q = 20(K^0.5)*(L^0.5) with marginal product functions MPk= 10 * ([L^0.5]/[K^0.5]) and MPl = 10 * ([K^0.5]/[L^0.5]) a. If …

The production function in an economy is: Y=A(5N-0.0025N2) Where A is productivi

The production function in an economy is: Y=A(5N-0.0025N2) Where A is productivity. With this production function, the marginal product of labor is MPN=5A-0.005AN. Suppose A=2. Th…

The production function in the table below exhibits decreasing marginal returns

The production function in the table below exhibits decreasing marginal returns to capital over what output range? Production Function for Good N 0 Marginal Avcrage Labor Capital …

The production function is Q = AL a K b , where a > 0 and b > 0. a. The marginal

The production function is Q = ALaKb, where a > 0 and b > 0. a. The marginal product of labor is MPL = b. The marginal product of capital is MPK = c The marginal rate of tec…

The production function is Y=40K 1/4 *EL 3/4 The rate of depreciation (?) is 10%

The production function is Y=40K1/4 *EL3/4 The rate of depreciation (?) is 10% The rate of population growth (?) is 2% The rate of technological growth (g) is 3% The savings rate …

The production function of a typical food manufacturer has been estimated to be

The production function of a typical food manufacturer has been estimated to be q = K^1/3 L^1/2 where K denotes capital and L denotes labor. In the short run, the firm’s capital i…

The production of Kumquats requires two inputs: labor and machines (capital). To

The production of Kumquats requires two inputs: labor and machines (capital). Total costs associated with producing a given level of Kumquats is given by: TC = Wl L + WkK    (1) W…

The production of methamphetamine (meth) is a social problem in the Midwest. Iow

The production of methamphetamine (meth) is a social problem in the Midwest. Iowa is considering two potential programs: Operation Meth bust would increase the number of sheriffs'…