All Matches
Solution Library
Expert Answer
Textbooks
Search Textbook questions, tutors and Books
Oops, something went wrong!
Change your search query and then try again
Toggle navigation
FREE Trial
S
Books
FREE
Tutors
Study Help
Expert Questions
Accounting
General Management
Mathematics
Finance
Organizational Behaviour
Law
Physics
Operating System
Management Leadership
Sociology
Programming
Marketing
Database
Computer Network
Economics
Textbooks Solutions
Accounting
Managerial Accounting
Management Leadership
Cost Accounting
Statistics
Business Law
Corporate Finance
Finance
Economics
Auditing
Ask a Question
Search
Search
Sign In
Register
study help
business
microeconomics
Questions and Answers of
Microeconomics
Each of the following was a major contributing factor to suburbanization except ______.a) low-interest federal loansb) a federal highway building programc) the pent-up demand for housingd) the
Which statement is true? a) Although our economy was not performing well, college graduates from the class of 2012 received more job offers than any other graduating class in history.b) The
Which statement is the most accurate?a) The 21st century will almost definitely be another “American Century.”b) The 21st century, rather than the 20th, will be called “The American
Our most rapid job growth was in the period from _____. a) 2000 to 2005b) 1995 to 2000c) 1978 to 1983d) 1953 to 1958
If you could blame just one person or group of people who caused the Great Depression, which one of the following would you choose? a) President Herbert Hooverb) President Franklin
Each of the following happened during the Great Recession except ____. a) a financial crisisb) the loss of more than 8 million jobsc) a sharp rise in the inflation rated) a sharp decline in our
Which of the following is the most accurate statement? a) Like the 20th century, the 21st century will definitely be “the American Century.”b) Although we have had some recent problems, our
Which statement is the most accurate? a) We have had the world’s largest economy for more than 120 years.b) Our economy is slightly larger than China’s economy.c) Until the Great Recession of
During the years 2008 through 2012 we have had relatively______ unemployment and relatively ______inflation. a) low, lowb) high, highc) high, lowd) low, high
In the presidential campaign of 1992, candidate Bill Clinton’s campaign coined the slogan “It’s the economy, stupid!” Which 2012 presidential candidate might have benefited most by using the
The low point of the Great Depression was reached in the year ________.
In 1790, about ___________of every 10 Americans lived on farms.
The worst recession we had since World War II began in (month, year) ______.
The country with the world’s largest output is __________.
In 1933, our official unemployment rate was _________percent.
Bills providing for Medicare and Medicaid were passed during the administration of President______.
Today one full-time American farmer feeds about people ________.
During President Dwight D. Eisenhower’s two terms, there were _______recessions.
Rapid technological change in agriculture during the first half of the 19th century was brought on mainly by ______.
The main factor in finally bringing us out of the Great Depression was _________.
Since the end of World War II there have been _________ recessions.
The quarter century that was completely dominated by the great industrialists like Andrew Carnegie and John D. Rockefeller began in the year ________..
Passage of the _______ in 1944 enabled nearly 8 million veterans to go to school.
The _______ century was termed “The American Century.”
Can you think of any decisions you have recently made that incurred opportunity costs?
The word that is central to the definition of economics is ________.a) resourcec) scarcityb) wantsd) capital
We would not need to economize if _____.a) the government printed more moneyb) there was no scarcityc) there was less output of goods and servicesd) everyone received a big pay increase
Human wants are _____.a) relatively limitedb) relatively unlimitedc) easily satisfiedd) about equal to our productive capacity
Which of the following is an economic resource? (LO3)a) gold b) scarcity c) labord) rent
Each of the following is an example of capital except _____.a) land b) an office building c) a computer systemd) a factory
The opportunity cost of spending four hours studying a review book the night before a final exam would be _____.a) the cost of the review bookb) missing four hours of TVc) a higher grade on the
An economy operating its plant and equipment at full capacity implies a capacity utilization rate of _____.a) 40 percentb) 70 percent c) 85 percentd) 100 percent
The full-production level of our economy implies _____.a) an efficient allocation of our resourcesb) zero unemploymentc) our plant and equipment being operated at 100 percent capacityd) a high
Underemployment means ________.a) the same thing as unemploymentb) underutilization of resourcesc) a recessiond) slow economic growth
The production possibilities curve represents ________.a) our economy at full employment but not full productionb) our economy at full production but not full employmentc) our economy at full
If we are operating inside our production possibilities curve _______.a) there is definitely a recession going onb) there is definitely not a recession going onc) there is definitely less than full
The closer we are to the origin and the farther away we are from the production possibilities curve ________.a) the more unemployment there isb) the less unemployment there isc) the more guns we are
Economic growth will occur if any of the following occur except _____.a) a better technology becomes availableb) the level of consumption rises and the savings rate fallsc) more capital becomes
To attain a higher rate of economic growth, we need to devote _______.a) a higher proportion of our production to capital goods and a lower proportion to consumer goodsb) a higher proportion of our
Which statement is the most accurate?a) Nearly every major economic innovation originated abroad and was then applied in the United States.b) The United States provides a poor environment for
Which statement is the most accurate?a) Most Americans are underemployed.b) Employment discrimination causes underemployment of labor.c) It is impossible for an economy to operate outside its
Statement 1: The old Negro leagues provide an example of underemployment.Statement 2: Underemployment means basically the same thing as unemployment.a) Statement 1 is true and statement 2 is false.b)
Employment discrimination is most closely related to ______.a) specialization b) technology c) unemploymentd) underemployment
Miranda Bowman, a Harvard MBA, is definitely________ if she is working as a secretary.a) unemployedb) underemployedc) both unemployed and underemployedd) neither unemployed nor underemployed.
On the following list, the most serious problem facing today’s college graduate is _______.a) outsourcing of jobs to foreign countriesb) employment discriminationc) unemploymentd) underemployment.
Which statement is true?a) America has always had a shortage of entrepreneurs.b) Our economic problem is that we have limited resources available to satisfy relatively unlimited wants.c) America has
Suppose you had $1,000 to spend. If you spent it on a vacation trip rather than on new clothes, your second choice, or 1,000 lottery tickets, your third choice, what was your opportunity cost of
Which of the following best describes the role of an entrepreneur?a) the inventor of something with great commercial possibilitiesb) anyone who made a fortune by purchasing stock in a dot-com before
As we produce increasing amounts of a particular good, the resources used in its production ________.a) become more suitableb) become less suitablec) continue to have the same suitability
The law of increasing costs is explained by each of the following except __________.a) the law of diminishing returnsb) diseconomies of scalec) factor suitabilityd) overspecialization
As a firm grows larger, ________-.a) economies of scale set in, then diseconomies of scaleb) diseconomies of scale set in, then economies of scalec) economies of scale and diseconomies of scale set
The law of increasing costs states that, as ______.a) output rises, cost per unit rises as wellb) the output of one good expands, the opportunity cost of producing additional units of this good
If Figure 1 shows our production possibilities frontier during World War II, at which point were we operating?a) point Ab) point Bc) point Cd) point D A Figure 1 B D
If Figure 1 shows our production possibilities frontier during the Great Depression, at which point were we operating?a) point Ab) point Bc) point Cd) point D A Figure 1 B C D
Which statement is the most accurate?a) Our economy was at full employment in 2012.b) Our economy operated outside its production possibilities curve in 2012.c) Our economy is currently operating on
A PhD driving a cab would be considered __________.
The central fact of economics is (in one word)___________.
Human wants are relatively ________, while economic resources are relatively ____________.
The law of increasing costs states that, as the output of one good expands, __________.
The law of diminishing returns, diseconomies of scale, and factor suitability each provide an explanation for the law of ____________.
If you went into a store with $25 and couldn’t decide whether to buy a pair of jeans or a jacket, and you finally decided to buy the jeans, what would be the opportunity cost of this purchase?
Full employment implies an unemployment rate of about ______ percent.
List some constraints on our labor force that prevent our fully using our plant and equipment 24 hours a day, seven days a week.(1) _____________;(2) _____________;(3) ______________________.
Employment discrimination results in the __________ of our labor force.
When we are efficiently allocating our resources and using the best available technology, we are operating on our ____________.
Most of the time our economy is operating its production possibilities frontier__________.
Economic growth can be attained by:(1) _________________(2) . __________________________.
If we were at point C in Figure 2, could we quickly produce substantially more houses and more cars? Units of houses 15 10 5 0 Figure 2 M 10 J Units of cars 20 30
If we were at point M in Figure 2, could we quickly produce substantially more houses and more cars? Units of houses 15 10 5 0 Figure 2 M 10 Units of cars 20 30
If we were at point C in Figure 2, could we quickly go to point J? Units of houses 15 10 5 0 Figure 2 M 10 Units of cars 20 30
Fill in the following points in Figure 3. Point X: where our economy generally operates Point Y: a serious recession Point Z: a catastrophic depression Point W: economic growth Units of butter 16
In Figure 4, fill in a new production possibilities frontier representing substantial economic growth. Figure 4
In Figure 4, place point M where there is 100 percent unemployment. Figure 4
Fill in the following points in Figure 5. Point A: an unemployment rate of 100 percent Point B: an unemployment rate of 20 percent Point C: an unemployment rate of 2 percent Figure 5
Given the information in Table 1, what is the opportunity cost of going from point B to point C? Of going from point D to point C? TABLE 1 Hypothetical Production Schedule for Two-Product Economy
Use Figure 6 to answer these questions: a) What is the opportunity cost of going from point B to point C?b) What is the opportunity cost of going from point D to point C?c) What is the
Use the data in Figure 6 to illustrate the law of increasing costs numerically. Units of DVD players 180 150 120 90 60 30 A Figure 6 30 B C D E 60 90 Units of digital cameras 120 150 F 180
Put an X in Figure 7 to represent where our economy operated in 2012. Figure 7
Practical Application: If you were on a presidential commission whose purpose was to deal with spamming and robocalling, what recommendations would you make?
We have a mixed economy because _____. a) we produce guns and butterb) we consume domestically produced goods as well as importsc) we consume both goods and servicesd) there is a private sector
Which does not fit with the others? a) competitionb) government planning and regulationc) the invisible handd) the price mechanism.
Adam Smith believed the best way to promote the public interest was to ______.a) have the government produce most goods and servicesb) let people pursue their own selfish interestsc) wait for
Our economy does a very good job with respect to ________. a) both equity and efficiencyb) equity, but not efficiencyc) efficiency, but not equityd) neither equity nor efficiency.
Which statement is the most accurate? a) No country could be classified as having a communist economic system.b) It could be argued that every nation has a mixed economy.c) The United States is
Adam Smith believed people are guided by all of the following except ______. a) the profit motive b) self-interest c) the public goodd) the invisible hand
The price system is based on _______.a) government regulation (i.e., the government sets most prices)b) the individual whim of the businessperson who sets itc) the feelings of the individual
Which of the following would be the best public policy? a) Zero tolerance for pollution.b) Allow private business firms to curb their own pollution.c) Provide business firms with incentives to
In the United States, nearly all resources are owned by ______. a) the governmentb) business firmsc) individualsd) foreigners
The pilgrims who settled in Plymouth, Massachusetts, concluded that _______.a) only a social society of collective ownership would make economic senseb) a capitalist society with large industrial
Wages, rent, interest, and profits flow from ______. a) business firms to householdsb) households to business firmsc) business firms to the governmentd) the government to business firms.
Private ownership of most of the means of production is common to _______.a) capitalism and communismb) capitalism and fascismc) capitalism and socialismd) fascism and communism
The price mechanism is least important under _____. a) capitalismb) socialismc) fascismd) communism
The five-year plan had been the main economic plan of _____. a) the United Statesb) Swedenc) Nazi Germanyd) the Soviet Union
Fascism peaked in the _______. a) 1920sb) 1930sc) 1940s d) 1950s
The strongest criticism of Norway’s economic system has been that ______.a) it provides too many benefitsb) its taxes are too highc) its taxes are too lowd) it doesn’t provide enough benefits.
The strongest indictment of the capitalist system was written by ______. a) Adam Smithc) Winston Churchillb) John Maynard Keynesd) Karl Marx
Karl Marx said that _____.a) whoever controlled a society’s capital controlled that societyb) in the long run, capitalism would survivec) the U.S.S.R.’s communist system was “state
The main reason the American farmer can produce more than the farmer in China is that he or she _______.a) has more landb) has more capitalc) has more labord) is better trained
Capital comes from ______. a) goldb) savingsc) high consumptiond) the government
An individual can build up his or her capital ______. a) by working longer hours onlyb) by cutting back on consumption onlyc) by both cutting back on consumption and working longer hoursd) by
Showing 1400 - 1500
of 1817
First
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19