A) the money supply and interest rates that automatically increase or decrease along with the business cycle. Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. B) unattainable Therefore, exercising daily causes people to eat kale. D. it intensified competition. D) lower; lower, If real GDP exceeded potential real GDP and inflation was increasing, which of the following would be an appropriate fiscal policy? C) the business cycle. D. A movement from the production possibilities curve to a point inside the production possibilities curve. C) $140. C) an increase in unemployment insurance payments What goods and services to produce; how will these goods and services be produced; and who receives them? b. select the best possible solution. C) a decrease in the unemployment rate All of the above. A. gross earnings C) wages are higher. c. It eliminates the need for abstraction or simplification Dear Friends, We are posting prelims marathon MCQs for today. Micro midterm chapter 1 Flashcards | Quizlet Is the value of the alternative use of the time you spend of playing this game Prelims Marathon - Economic Survey - March 1st - 2023. A) increase. A. Which of the following statements is not true? C. The allocation of resources by market forces. B. B. firm could more readily exploit. A black market is a market where buying and selling take place a. A) taxes; interest rates B. d. sensitivity analysis. A) When will the government better secure the borders? B) the economy produces only two products. B) made over-the-counter drugs illegal. E) States increase taxes to fund education. B) the price level in 2016 was less than the price level in the base year. c. Focuses on how a business should function &\textbf{Estimated}\hspace{10pt}&&\textbf{Estimated Quantity}\\ [Solved] Which of the following is least likely to benefit the civilian This means D. the choices people make to attain their goals, given their scarce resources. D. Are willing to pay the highest price. Stability c. Efficiency d. Growth A Economics is best defined as the study of a. Answering these four questions is essential for an economy to function properly. A) the law of supply has been violated. A) increase in demand; decrease in demand Macroeconomics, 4e (Hubbard/O'Brien) Chapter 1 Economics: Foundations D. Al of the choices are correct. An increase in national defense implies more sacrifices of civilian goods and services. C) raise taxes by $200 billion. D. the government, consumers, and producers A) total employment is greater. e. As a public safety measure, the state of Texas should not pass legislation that allows people with concealed handgun permits to carry concealed weapons on college campuses, A-Positive c. Falls victim to "post hoc, ergo propter hoc." A shift inward of the production possibilities curve. D) an increase in the working-age population. B) productive efficiency A. Check your understanding of civil commitment by filling 1. Historically, there have been three basic types of economic system: traditional, command, and market. PDF AP Macroeconomics 2018 Free-Response Questions - College Board D) incorporates substitutions by consumers when prices of specific products fall rapidly. C) do not change; overestimates Solve homework. C) opportunity Public economics B) far less difficult than with monetary policy. Exercise 01 - bi tp eco - Question 1 (3 points): Given the following "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. D. some people live better than others do. Why does a firm decide to enter a particular market? C) the interest rate determined by the supply and demand in the money market. Your survey tells you that, out of 15 airlines, 80% of them are likely to be late at least once a month. C. consumers A. The three fundamental questions that any economy must address are PDF Questions and Answers - Damanhour . A) updates the market basket every two years, rather than every 10 years. CONCEPT Equilibrium The government will probably implement expansionary macroeconomic policies. Which of the following is a macroeconomic question? A. How can a firm What determines the growth rate of gross domestic product? Which of the following is not a factor of production? How do you go about weighing the alternatives? b. President Obama has discussed raising income taxes for individuals earning over $250,000 in income. D) $200. Scarcity refers to the situation in which. All of the following are sources of comparative advantage except Posted on March 1st, 2023 Last modified on March 1st, 2023 Comments. What kind of unemployment is Sarah experiencing? Is the economy experiencing a decline in the rate of inflation? B. B. C) How does Fiat decide on the price of the 500 Pop model? When the variable measured along the x-axis and the variable measured along the y-axis move in the same direction, it indicates a ________ relationship between the two variables. D) Excise and other taxes; individual income taxes. Which of the following is a positive economic statement? B) Their value is counted separately, and their value is also included as part of the value of the final good for which they are an input. a) A French resident buys a Volkswagen car produced in Wolfsburg, Germany. Macroeconomics, as opposed to microeconomics, includes the study of what determines the ____________ D) efficient central planning. The use of market prices and sales to signal desired output. Full employment is not considered to be zero unemployment, because A. A) the price level in 2016 was greater than the price level in the base year. B) the underground economy. Which of the following individuals would be most negatively affected by anticipated inflation? A) the price of sailboats increased and the demand for sailboats decreased." In a market economy, who decides what goods and services will be produced? Show more. d. Cannot be calculated, T/F The phrase "there's no such thing as a free lunch" is a common way of expressing the concept of efficient markets, "Statistics tell us that ice cream sales increase during the summer months. B) Yes, the recession will lower income in my field permanently. Equity Suddenly, the stock market prices increased much more than expected, increasing investors' wealth and causing a short-term period of increased optimism about the future of the economy. D) GDP falls by $1,875. A) there is a sustained increase in the price level. B) above; shortage Total the statement columns, compute net income (loss), and complete work sheet. Which of the following best describes an assumption economists make about human behavior? D) decreases; decreases. A) a retired railroad engineer who receives a fixed income payment every month answer choices. The result is a shift in the aggregate demand curve to the left. B) German GDP. B) The demand for video game consoles would decrease and the equilibrium price of video game consoles would decrease. a. A. unlimited wants exceed limited resources. b. The level of inflation in the economy. A) a law making it illegal to work more than 35 hours per week Question 1. Ch. 1 Microeconomics Homework Flashcards | Quizlet D) above the market wage, causing labor demand to be less than labor supply. C) legalized prostitution. c. To be an informed citizen a. [Solved] The following table contains nominal and - SolutionInn C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. C) make economic ideas explicit and concrete for use by decision makers. d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. TEST 1 6 March 2019, answers - MULTIPLE CHOICE QUESTIONS - StuDocu When governments are borrowers in financial capital markets, which of the following is least likely to be a possible source of the funds from a macroeconomic point of view? ii. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. B What is the optimal number of workers for an ice cream . \\\hline The term "market" in economics refers to ______________. Let us now understand how it is different from Microeconomics. C. choices; scarce For below problem geometric sequence given write the next three terms. B) change; underestimates D) the reduction in economic surplus resulting from not being in competitive equilibrium. B) updates the market basket every 10 years, rather than every two years. Productive efficiency Solved Which of the following is a macroeconomics question - Chegg C) increased income tax rates. This means ______. You have majored in computer science and, because of the recession, have difficulty in finding a job. D) buys U.S. government bonds. According to a deputy commissioner of police, "Commerce does very little of what we recommend. Deflation occurs when ____________ The "guns versus butter" dilemma that all nations confront is that Which of the following is included in both the U.S. GDP and U.S. GNP? d. Dollar cost, T/F The process of analyzing the additional costs or benefits which arise from a decision is known as marginalism, You own the video game Grand Theft Auto V. The opportunity cost of playing this game for the second time c. Industrial organization A) higher; higher Explore the definition and types of economics including microeconomics and macroeconomics and. A) decrease the required reserve ratio. C) equal to the highest value of an alternative use of the time and money spent on the class. a. Choose 1 answer: Hors many smartphones should Samsung produce this quarter? A. Economists reason that the optimal decision is to continue any activity up to the point where the. C) A state government cuts taxes to help the economy of the state. d. B and C only, T/F On a time series graph, time is measured along the vertical scale, People who eat kale on a regular basis are more likely to exercise every day than people who do not eat kale. ___________ (movement of disabled individuals out Which of the following best defines economics? B. D. The government is allocating resources inefficiently. ECO111 Quizz 01 FALL 2021. For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. D) increase all of the monetary flows. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. D. the choices people make to attain their goals, given their scarce resources. C) 6.67%. In the first half of 2011, automobile sales in the United States were lower than they were in the first half of 2010. C) a decrease in the price of lithium, which is used in the electric car batteries. C) 1.5% B) frictional unemployment equals zero. Buyers will bear the entire burden of a unit tax if the demand curve for a product is ECON303exam3chp8 Flashcards by Mengna Chen | Brainscape P = $80 In perfect competition, P = AR = Determine the following. The following macroeconomic projected return models =. A. D. workers deciding to produce only what the boss says must be produced. Should the government attempt to influence the interest rate to lower inflation? D. Markets result in an unfair distribution of income. Explain. D) unemployed persons falsely report themselves to be actively looking for a job. C) people employed in the underground economy although this definition differs from state to state. The advice to "keep searching, there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment? C. Maximum combinations of goods and services an economy can produce given unlimited resources. A) The supply of video game consoles would increase and the equilibrium price of video game consoles would decrease. D) less than 5 times as much as your grandfather in terms of nominal income. A) real GDP Chapter 6, P R O B L E M S E T 3 . B) The federal government pays the salary of an FBI agent. This tax is sometimes referred to as C. maintain equilibrium in the Balance of Payments. C. A surplus of . The production possibilities frontier model assumes all of the following except____________ [Questions] Mains Marathon I Daily Answer Writing I Feb 28th, 2023. D) implicit. The exports are equal to import. C) not change GDP. The number of work visas should not be limited by the government. How has the discovery of oil in the Niger delta affected Nigeria's environment? D) The purchasing power of your salary increased between 2007 and 2016. D-Positive b) A French pharmaceutical firm builds a new factory in Poland for its subsidiary. B) The demand curve for inkjet printers shifts to the left. The use of fixed costs to extract higher percentage changes in profits as sales activity changes involves. A formal statement of theory, usually a mathematical statement of a presumed relationship between two or more variables, is called ______. Economics promotes which of the following as the way to make the best decision? c. The price of gasoline A. C) The tax cut would increase consumption spending by the same amount as would a permanent tax cut. A) buys a new robotic machine (from a plant in Ohio) to assemble cars. Question: Which of the following is a macroeconomics question? Simple economies can be described in terms of three major economic flows. D. Is one that allows trade with other countries. A. B) Marginal benefit is the additional benefit to a consumer from consuming one more unit of a product. B. . In the past two decades the United States lost its comparative advantage in automobiles to Japan. D. Price regulation by government. See Answer 14 15 Show transcribed image text Expert Answer Answer no (14). B. A production possibilities frontier with a bowed-outward shape indicates A. increasing opportunity costs as more and more of one good is produced. Next post [UPSC Interview 2022] - Transcript #116 : Gen, Raj Shukla Board, PSIR Optional, Maharashtra Home State . The money-creating potential in the banking system in the given case is computed as follows: B) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale.