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Economics Questions and Answers March 4, 2018

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How is economic profit calculated? a. Total revenue minus fixed costs b. Total revenue minus explicit and implicit costs c. Total revenue minus only implicit costs d. Total revenue minus opportunity costs

Reduction in the unit cost of population that occur when good or service are efficiently mass- produced are known as

uantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16

The terms "First World," "Second World," and "Third World" categorize countries according to __________. Question 12 options: degree of economic development the status of women relative to that of men rates of literacy population size

A successful advertising campaign may allow a monopolistically competitive firm to Question 24 options: sell a greater quantity. charge a higher price. increase its profits. do all of the above

What is an economic impact of air pollution? It has increased the value of cars and trucks since 1950. Rural areas have greater pollution and more poverty. It has cost the United States as much as 5% of its gross domestic product (GDP). It led to greater profits in the transportation sector

Identify the differences between the four market structures and how they impact profitability addressing the following questions: Which market structures have barriers to entry and exit

On March 1, 2022, the South African government announced that the National Minimum Wage would increase from R19.09 per hour (USD 1.12/hour) to R23.19 (USD 1.35/hour). Assume that before the increase in minimum wage (pre-announcement), the market for workers looking for minimum wage work was in equilibrium. According to the demand-supply model and

Which of the following is a substitute product for buying a lawn mower? Hiring a yard service Not mowing your yard all summer Buying new yard and patio furniture Buying a new leaf blower

With a cash-value life insurance policy, the value of the actual insurance _____________ over time, and the value of the savings element ___________ over time. Group of answer choices increases; increases increases; decreases decreases; decreases decreases; increases decreases; remains constant

Substantive peer responses ask thoughtful questions pertaining to the topic, and/or answer a question (in detail) "The 2008 crisis was triggered by banks handing out risky home loans, bundling them into investments, and accumulating excessive debt. When folks started defaulting, everything just fell apart. It really affected banks, the housing

Juan suggests a 10 percent price increase for the Big Kahuna burger, raising the price to $11.00. After the price change, JJ's sells 160 Big Kahuna burgers a week. Compute both the percentage change in the quantity demanded after the price change as well as the percentage in change in price

Thetable below shows thesupply anddemand formedical devices in unitsper month: Priceperunit Monthly Supply Monthly Demand $3,000 120 180 $3,500 140 175 $4,000 170 170 $4,500 185 125 $5,000 205 105 $5,500 220 80

how to draw this grpah 11. What impact does the price floor have on equilibrium in the market for milk in Switzerland? Is the price floor efficient? Why or why not? On your graph in #9, show the effect the price floor has on efficiency in the market (total welfare)

Considering the document and it's context lay out a framework of justice and sustainability in fashion trade (especially North/South divides). Apply that framework to a specific regional or national context (e.g. cotton producers in West Africa, garment workers in Bangladesh, or cultural textile exports from Latin America. Critically assesses how

The improvements made in transportation, communication, and technology make global trade and ______ easier despite divisions. a tourism b space travel c military bases d warfare

2. Consumer surplus for an individual and a market The following graph plots Paolo's monthly demand curve (blue line) for quinoa bowls. The point denoted by A gives a point along his monthly demand curve. The market price of quinoa bowls is $2.00 per bowl, given by the horizontal black line. Paolo's Monthly Demand 0 2 4 6 8 10 12 14 16 18 20 5.00

Son las caractersticas que debe poseer el sistema tributario mexicano, seleccione las respuestas correctas Opcin A Flexible, sencillo y eficiente Opcin B Responsable, justo y adaptable Opcin C Progresivo y regresivo Opcin D Obligatorio

what are the Benefits and Costs of Public real estate

A lower interest rate (discount rate) would: Question 8 (1 point) Listen Page 2: A lower interest rate (discount rate) would: N reduce the price of corporate bonds. Page 3: increase the price of common stock. reduce the price of preferred stock.

Which of the following is a true statement regarding the economic growth model's predictions and how it actually affects the real world? A. The growth model predicts that poor countries should catch up with rich countries, but developing countries are not catching up to lowerminusincome industrialized countries as a group. B. The growth model

Halfway houses are more expensive to operate per inmate per day than prisons because prisons can take advantage of cost savings related to the large number of inmates. Group of answer choices True False

If facilities meet Meaningful Use guidelines, what do they get in return? Multiple choice question. Monetary grants but increased penalties Fewer monetary grants and fewer penalties Facilities do not need to care about Meaningful Use More monetary grants and avoid penalties

La orientacin de un modelo de negocios en vista de la generacin de una propuesta de valor que se relacione con la ventaja competitiva estar dada por: Grupo de opciones de respuesta Adquirir la mejor tecnologa posible para estar a la vanguardia de la industria. Determinar la estrategia a seguir en un plan estratgico, a partir de un diagnstico.

While many factors influence housing demand, builders often play a significant role in creating it. True False

The following table gives the value of marginal product of labor (VMPL) for a competitive firm. Workers Employed VMPL 1 $240 2 $200 3 $160 4 $120 5 $80 6 $40 Because this firm is competitive and has no control over its product's price, the declining values for VMPL are a result of diminishing average productivity total productivity marginal

Based on your lab findings, as the system pressure increases the Question 22 options: pump output remains the same pump output decreases pump output decreases slightly while flow rate increases pump output increases pump output is impossible to determine

If the demand for a final product declines, then this results in

true or false, can cause a change in the demand for a product? a. change in the price of the product

True or False: When production costs change, price will change by more than the change in production cost in the short run. Question 11 Select one: True False

A firm with significant market power is most likely to operate in which market structure? a. Monopoly b. Monopolistic competition c. Oligopoly d. Perfect competition

In the United States in 2011, there wore 104 tatalities pef 100,000 workers in the logging ndusiry ThNs the fisheries industry seconds calie afhier Everything etse equal, would you expect workers in the logging industry to be paid higher wagss than wortsrs wilth smiiar ievels a education in other industries? Explain 4 A. NO. workers in the ogging

1. Economic growth and production possibilities The following graph shows a production possibilities curve for a hypothetical country. Suppose the country increases its investment in capital goods, such as tools, machinery and infrastructure. Adjust the following graph to show the effect on the economy's production possibilities curve. PPC

if a price floor is set below the free market equilibrium price, then the quantity demanded is

Problem 4 A well-known restaurant, Casa Chuchi, works with two types of customers: 1000 people are of type 1, who always pay with credit card (American Excess) and 2000 individuals are of type 2, and they always pay cash. The respective individual demand functions are 1 g1 = 10 o, d. q: = 1_Pz We will assume that the unit cost of "producing\"

Which of the following statements are true in industrially advanced economies? Multiple select question. The cross-price elasticity of demand for agricultural products is low. The price elasticity of demand for agricultural products is low. A large drop in the price of farm products yields only a small increase in consumer purchasing. The price

If the 10-acre plot of land you purchased was rezoned for commercial use, how would that likely affect its value? Group of answer choices It would decrease in value It would have no effect on the value It would likely increase in value It would become impossible to sell

Complete the following statement. The personal income tax in the state of California is best characterized as a - , while the sales tax is best characterized as a - . capped taxflat taxregressive taxprogressive tax

Which of the following best describes the relationship between total costs and output? a. Total costs increase as output increases b. Total costs remain the same as output increases c. Total costs decrease as output increases d. Total costs are unrelated to output

Determine which type of unemployment (Frictional, Structural, Cyclical, or Seasonal) each of the following scenarios best exemplifies: -High school and college students start looking for jobs once the semester ends. -An accountant quits his current job to move to a new state. -A cashier at Vons is laid off and replaced by a self-checkout machine.

The Keynesian economic framework is based on an assumption that: Option A an increase in government spending will cause the aggregate demand curve to shift to the left. Option B prices and wages are sticky and do not adjust rapidly. Option C an increase in government spending will cause the aggregate demand curve to shift to the left. Option D

We know what "economic impact" is. However, what are your thoughts on the "economic impact of winning". Locate/research an example of how winning has (or hasn't) resulted in a finiancial gain for a sport entity. What are your thoughts on this? Does "winning" provide a significant financial advantage both on and off the field. For the sake of the

Could you tell me more about Peru's Geography, Socio-economic situation, and Languages? The more information, the better

True or False: The price-discriminating firm will adjust its prices so that customers with more elastic demand pay higher prices than customers with less elastic demand. Question 20 Select one: True False

Firms typically experience decreasing marginal returns to labor before they are able to enjoy increasing marginal returns to labor. Group of answer choices True False

Which of the following statements is true? Choose one or more: A. Every Nash equilibrium is also a dominant strategy equilibrium. B. No dominant strategy equilibrium is also a Nash equilibrium. C. Every dominant strategy equilibrium is also a Nash equilibrium. D. No Nash equilibrium is also a dominant strategy equilibrium

b. Jelaskan apa yang dimaksud dengan pertanian sebagai sumber daya majemuk

True or False: Firms can use tit-for-tat and trigger strategies to encourage cooperative behavior by rivals. Question 16 Select one: True False

Access the Supply and Demand examples and explanations below to understand what each curve should look like when graphed. Choose a sport product that is extremely popular in demand, and graph how the demand will impact the price of this new trend. Do the same for the supply of a product from a sports business that is struggling to get enough

3. Chapter 5 Environmental Quality Two power plants emit sulfur dioxide (SO) near a national park. The marginal abatement cost (MAC) for Plant A is $50 per ton, and for Plant B it is $150 per ton. The marginal damage (MD) from SO emissions is estimated at $100 per ton. The government aims to reduce total emissions by 20 tons. a. If the government

In one statement, define Fund absorption rate in relation to effect of young citizens' participation on budget implementation in Kenyan counties

1. Please explain some of the reasons for the crash of the stock market. (8pts) 2. Please explain the challenges faced by farmers during the Great Depression. (8pts) 3. Please explain some of the efforts of the Roosevelt administration to help both the American people and the US economy during the Great Depression. (9pts)

AirCab is the only airline that flies to and from a small island nation. It is currently operating while earning short- run negative economic profit

Can you write me an introduction paragraph for a paper about what leads people to poverty.

When an economy faces diminishing returns, A. the per-worker production function shifts to the left. B. the per-worker production function shifts to the right. C. the slope of the per-worker production function becomes steeper as capital per hour worked increases. D. the slope of the per-worker production function becomes flatter as capital per

Pada tingkat harga Rp20.000 per porsi permintaan seblak Teh Ina sebanyak 100 porsi. Kemudian Teh Ina menurunkan harga seblaknya menjadi Rp10.000 per porsi sehingga terjadi peningkatan permintaan menjadi 300 porsi. Berdasarkan hal tersebut, berapakah tingkat elastisitas permintaannya

All ot the following are reasons for mneouality mn wages and earnings among workers witin a gis nasty A skillset B effort OC discrimination D.j1ob risk

A good in the presence of many close substitutes is predicted to have relativelyinelastic demand, since consumers can easily choose to purchase one of the close substitutes if the price of the good were to increase. The price elasticity of demand of a good depends in part on its relative necessity in comparison to other goods. Assume the following

The increase in wage inequality over the past five decades is best explained by O A. skill-biased technological change B. taste-based discrmination D C. labor-saving technological change D. statistical discrimination

what is the answer According to Nevid, Rathus, Greene, (2011), an emotional state is characterized as not having any psychological emotion. O True O False

what is the answer Taylor serves on the board of directors for Cabby Company. Taylor owns a lot of vacant land, which she tried to sell unsuccessfully for two years. Taylor convinced the board of directors to purchase 1,000 acres of her land for a price well over what the land is worth. This action may violate the rule. OC) A) actual authority )

Drag the tiles to the correct boxes to complete the pairs. Match each economist to his economic belief. Adam Smith Friedrich von Hayek Milton Friedman John Maynard Keynes Less government intervention gives people more economic freedom. arrowRight Government should not control the money supply. arrowRight Government intervention is necessary for

is this Step 1: Deriving the Total Cost Function C ( y ) C(y) From the second condition S M C ( 0 ) = A V C ( 0 ) = 1 SMC(0)=AVC(0)=1, we know that at zero output, both the marginal cost and the average variable cost are equal to 1. This suggests that the fixed costs are likely zero because the average variable cost at zero output reflects only

Which of the following is true if player 1 moves first and player 2 moves second? Choose one: A. There are no pure strategy equilibria. B. There are two pure strategy equilibria: (R, L) and (L, R). C. The only equilibrium is (R, L). D. The only equilibrium is (L, R)

Choose the best answer to the following question. Explain your reasoning with one or more complete sentences. A person is buying apples while traveling in Europe. How will the price be mostly likely quoted? Question content area bottom Part 1 Choose the correct answer below. A. The price will be quoted in euros per kilometer because because Europe

The discussions emphasize the multifaceted impact of discrimination in the workplace and its implications for economic growth. Both discussions point toward education and national savings as vital components in addressing discrimination, but they approach the issue from different angles. Here, we will compare and contrast the main assertions of

Firm Alpha operates in a perfectly competitive market in a constant-cost industry and is earning negative economic profit. How does Firm Alpha determine its profit-maximizing quantity of output? Explain. Draw correctly labeled side-by-side graphs for Firm Alpha and the market it operates in. Label the axes and all of the following: Market price (P

in first-best policy analysis and why do they typically not exist in second-best policy analysis

When the price of a product changes, there is a Blank______the given supply curve. Multiple choice question. shift to the right or left in movement along

American farmers suffered from high Question Blank 1 of 2 type your answer... costs and declining Question Blank 2 of 2 type your answer... prices

Assume that every time you wanted to take this quiz you were charged a fee. The publisher's cost for developing the quizzes and making them available does not vary with the number of times you or anyone else takes the quizzes. These quizzes Part 2 A. will have a U-shaped average total cost curve for the publisher. B. are a search good. C. will

Suppose that the economy moves from point A to point B and then back to point A. It then remains permanently at point A. This is a case of . Suppose that the economy moves from point A to point B because of increases in costs of production. Assume that prices will rise periodically. The central bank decides to intervene and continually increase

According to the textbook, over half of world output now comes from ________Blank markets; thus, leading to a convergence of ________Blank standards across the globe

Which of the following statements is correct? Imports increased each year from 1985 to 1989. Canada ran a trade deficit in 1987. Of the years listed, Canada ran its largest trade surplus in 1989. Canada ran consistent trade deficits from 1985 to 1989

Select the correct answer. Which words refers to any system that uses an exchange mediumwhether it's a precious metal or government-printed paperthat can be traded for other goods? A. price B. money C. barter D. value

Consider the Bertrand model, where ???? firms simultaneously and independently select their prices in a homogeneous goods market. The price selected by firm ???? (???? = 1, 2, , ????) is denoted ???????? (???????? 0). Consumers observe these prices and purchase the product only from the firm (or firms) charging ???? = min{????1, ????2, ,

What happens if a firm produces beyond the point where MR equals MC? a. It breaks even b. It increases market power c. It risks incurring losses d. It maximizes its profit

True or False: Prices in a perfectly competitive industry are not determined by the interaction of demand and supply. Question 4 Select one: True False

A country wants to design a policy to increase the national saving rate in next year. Which of the following statements is true from an earth economic perspective? Savings policy is incompatible Savings policy is inefficient Savings policy suffers from leakage Savings policy suffers from the fallacy of composition 1 point

Year in Billions) 1995 $7,522.5 1996 $8,000.4 1997 1998 $8,953.8 1999 2000| $9,953.6 2001 $10,226.3 2002 $10,591.1 2003 $11,236.0 2004 $11,995.2 2005 $12,750.7 2006 2007 $14,173.0 2008 $14,642.2 CPI (1983=100) Real GDP (irt Billio Time left 0:00:41 153.5 $5,044.4 161.3 $5,251.8 163.9 168.3 $5,656.3 $5,720.4 176.7 180.9 184.3 190.3 201.9 $6,475.7

One of the criticisms highlighted in the documentary is that easy money policies have: Lowered inflation too much Reduced unemployment Widened the gap between rich and poor Helped small businesses more than large corporations

From an economic perspective, do you agree or disagree with this statement: If peopleare free, no transaction takes place unless both parties benefit

10 (1 point) ) Listen D After the 2018 U.S. -China tariffs, average transaction values between U.S. buyers and Chinese suppliers fell by approximately what percent? 010.5% 0 18.4% 025.7% 032.6%

what is the answer Risks factors for depressive disorders include all except: O a. Abnormal brain structure O b. Age O C. Gender O d. Genetics O e. Low socioeconomic standing and poverty

What was the main economic theory endorsed by Reagan's administration? Group of answer choices Keynesian economics Supply-side economics Marxist economics Monetarist economics

2) How might interested parties be involved in the evaluation of trade offs among alternatives that you examined in the 'Consequence Table' worksheet

The Department of Justice filed a lawsuit against Microsoft claiming it was engaging in unfair practices by A. selling its operating system at different prices to diferent people based on consumer characteristics. B. producing less than the efficient amount of its operating systern and charging above the competitive market price. C. monopolizing

When American companies move production overseas, it is called ________. globalization offshoring outsourcing specialization Question at position 20 20 Multiple Choice 2 points Question at position 20 The Great Recession was partially caused by an asset bubble in the ________ market. oil housing gold stock Question at position 21 21 Multiple

Why is budgeting in public decision making important, and how does it relate to public light rail

A prior expenditure that cannot be recovered by a decisioin in the future is called a

In an indefinitely repeated prisoner's dilemma game, a firm might use a ________ to ________ a rival that defects from a cooperative strategy. Group of answer choices trigger strategy; threaten trigger strategy; punish legal maneuver; sue explicit threat; dissuade

Indicate whether the following activities are a responsibility of the Treasury Department ("Treasury") or the Federal Reserve ("Fed"). Drag each item on the left to its matching item on the right. Note that every item may not have a match, while some items may have more than one match. Treasury Federal Reserve administering monetary policy Press

Why is it difficult for firms to maintain a cartel? Question 11 options: Cartels are evidence of illegal collusion. Firms have an incentive to produce more than the agreed quantity in order to earn greater profits. It is difficult for cartel members to enforce cooperation. All of the above

MSFFM2017 Answer the following questions related to workflow for furniture production. Question 2.1: What are the six (6) essential steps of the woodworking workflow? Question 2.2: What is the workflow for furniture production in the workshop

A family-owned flower shop orders fresh roses from its supplier, FloraHolland, in the early morning to sell throughout the whole day. The roses at the flower shop sell at $45/dozen. FloraHolland charges the flower shop a wholesale price of $32 for each dozen purchased. It costs FloraHolland $20 to supply each dozen of roses. Assume that unsold

To critically evaluate the sample written argument paper on distance education and its impact on economic needs, let's go through the elements you've mentioned one by one: Claim and Reasons: The claim of the paper is that distance education can potentially close the economic gap by producing more graduates and meeting workforce demands, despite

the total budget for the United States government is 3.54 trillion dollars. Health care is 28% of this budget. What is the Health care budget in dollars? include all digits and commas after each period

A method often used by economists to look at distribution of income in a society's economy involves Question 22 options: a) imposing taxes to redistribute wealth. b) quintiles, or dividing a whole group into fifths. c) programs for wealth redistribution. d) quads, or dividing a whole group into fourths

Tax incentives for research and development spending Is this Demand-side or Supply-side

Schools that have experienced staffs with higher salaries for teachers and administrative personnel will produce greater per-pupil costs. Group of answer choices True False

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