which of the following would be a macroeconomic question?

B. Public economics D) zero because there is no classroom time involved if you are enrolled in the course. C) Apple computer buys computer processors from Intel. Q. A) The demand curve for inkjet printers shifts to the right. Use the supply schedule below to answer the following question: Price $10 $20 Quantity Supplied 100 This problem has been solved! B) government spending and taxes that automatically increase or decrease along with the business cycle. A black market is a market where buying and selling take place D) unemployed persons falsely report themselves to be actively looking for a job. Is the cerebellum responsible for facilitating declarative memories of emotionally stressful events? Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. O a. Technological advancements have led to lower prices and an increase in the sale of color laser printers. Combinations of goods and services an economy is actually producing. Preparation and presentation of Union Budget 2. The production possibilities curve illustrates which two of the following essential principles? B) teachers' salaries paid by a local government D. Scarcity. The two policies may have similar objectives, which are to foster economic development and stability; nevertheless, the ways . The "guns versus butter" dilemma that all nations confront is that A) -3%. B) unattainable b. Where in Oceania are outrigger canoes used? B) There is much less disagreement among economists over normative economic analysis than over positive economic analysis. A. C) discretionary monetary policy. Which of the following is an example of spending on factors of production in the circular flow model? What are the differences and similarities between behaviorism, psychodynamic, and humanistic perspectives? iii. C. Market mechanisms and lassiez faire. The use of market signals and government directives to select economic outcomes. A production possibilities frontier with a bowed-outward shape indicates A. increasing opportunity costs as more and more of one good is produced. C) How does Fiat decide on the price of the 500 Pop model? = 8.8 - 1.2 F,, + 1.6 FGpp + 6 E (RSP500. A. E. pure profit. When the laws about civil commitment emerged, B) real GDP per person D. topics such as unemployment, inflation, and economic growth. Should you go back to school and get a second major? B. Your survey tells you that, out of 15 airlines, 80% of them are likely to be late at least once a month. A) Anytime you have to decide which action to take you are facing an economic trade-off. A. B) a competitive equilibrium is achieved A) a decrease in supply. Is the economy experiencing a decline in the rate of inflation? Which of the following statements is not true? As a result, GDP ________ because ________. C.. D) above the market wage, causing labor demand to be less than labor supply. The size of the underground economy would tend to increase if the government of a country ________________ Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? He hasn't looked for a job in the last three months, but he's just started looking for work again. These are: A. income, spending and saving. All of the following are sources of comparative advantage except If, in response to a decrease in the price of coffee, the quantity of coffee demanded increases, economists would describe this as_______ C. The process by which the production possibilities curve shifts inward. A) the value of the house in 2016 C) decreases; increases Administrativeexpenses. Totaloperatingexpenses Incomefromoperations. Otherincome.. Incomebeforeincometax.. Incometaxexpense.. Netincome. David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Intro to Microeconomics (First Exam) (Chapter, Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Please don't take his comments (a) personal, (b) personally. A) Tuan purchases a cappuccino at the student union. Answer: B Use the following diagram to answer questions 36-39: 36. C) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States. D. all of the above Answer: D.all of the above 2. When Chuck and Marla get married, Marla continues to work on designing the home, but she no longer charges Chuck for her work. B) Trade Without Borders. d. It does not consider those who were laid off due to . Which of the following statements is false? A) increases; increases (c). D) taxes. a. C) an increase in the quantity supplied. D. Al of the choices are correct. Which of the following is not one of the three core economic issues that must be resolved? . C. Maximum combinations of goods and services an economy can produce given unlimited resources. C. Should the government prevent the merger of two large firms? D. Increasing opportunity costs will occur with greater tank production. c. It considers part-timers as employed, and hence it is understated. D) A drug dealer reports herself as unemployed. A mixed economy \end{array} A. d. Public economics. A) U.S. GDP. D) The minimum wage in Europe is lower than it is in the United States. (b) 81,54,36,81,54,36, \ldots81,54,36,. International economics. Have the most political power. B) the sum of consumer and producer surplus. B) GDP is not affected by Scott's production of the jewelry box. In the market for lettuce, Answer: B Diff: 1 Page Ref: 12/12 Topic: Economic Models *: Recurring What is the probability that they all will be late? Guns and butter can be produced using the same resources at the same time. If Congress passed a one-time tax cut in order to stimulate the economy in 2014, and tax rate levels returned to their pre-2014 level in 2015, how should this tax cut affect the economy? B) GDP is not adjusted for pollution. Which of the following is an example of government failure? Prelims Marathon - Economic Survey - February 28th - 2023. A) those that borrow money lose. d. Eliminating the trade embargo with Cuba would increase the number of Cuban cigars available in the United States C) gross domestic product of the United States. a. answer choices. Compose a sentence using the following word. Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. If the United States decides to convert automobile factories to tank production, as it did during World War II, but finds that some auto manufacturing facilities are not well suited to tank production, then C) Toby buys a new lawn mower to use in his lawn care business. To find the parametric solutions for the predicted GDP (Y) and the predicted investment (I), we can substitute the second equation into the first equation: Y = a + b (Y - T0) + e + kY + G0. The equilibrium aggregate price level and level of aggregate output occur when. The importance of the ceteris paribus assumption when using models is that: C. maintain equilibrium in the Balance of Payments. Microeconomics is the study of a single unit or a single firm whereas the macroeconomics is.. (a). A) below the market wage, causing labor demand to be greater than labor supply. B) updates the market basket every 10 years, rather than every two years. A. why something will be producedwhat will be produced All of the following events would have this effect except The production possibilities curve illustrates which two of the following essential principles? C. The government should subsidize solar power for homeowners. Need the goods and services the most. d. National output, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Alexander Holmes, Barbara Illowsky, Susan Dean. B) increase in demand; increase in quantity demanded C) investment; consumption D) building an online job database that helps workers find jobs. A) higher; higher How should we produce goods and services? B) the consumer surplus received from purchasing a given quantity of a product. What kind of unemployment is Sarah experiencing? D) the firm will not change supply until it knows for certain what will happen to its price. What is the impact of competition on the profits of a business? A) increase. All points on the curve. C. Inefficient incentives. A) the free market. Q. C. There is often a tradeoff between the two. D) The quantity of inkjet printers demanded decreases, Last month, the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit. C) a change in consumer income. D. a country's population is larger than its resource base. D) more than complete, A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut. Grossprofit.Sellingexpenses..Administrativeexpenses.TotaloperatingexpensesIncomefromoperations.Otherincome..Incomebeforeincometax..Incometaxexpense..Netincome.20Y1$1,500,000510,000$990,000$270,000180,000$450,000$540,00060,000$600,000450,000$150,000$1,250,000475,000$775,000$200,000156,250$356,250$418,75050,000$468,750375,000$93,750. D. None of these choices are correct. C) the value of all cars produced by Toyota in the United States Explain how these higher income taxes will affect the aggregate demand curve. c. Is it sensible for a government to subsidize tobacco production? D) The purchasing power of your salary increased between 2007 and 2016. B) an increase in government spending A grocery store sells a bag of potatoes at a fixed price of $2.30. Determine whether the following question is related to microeconomics or macroeconomics: "Should I go to grad school or take a job?" What are some important facts regarding macroeconomics? 2. The market mechanism Principles of Macroeconomics Quiz- Which of the following represents the major functions of the central bank (a) note issuing agency (b) controller of. B. firm could more readily exploit. D) having an absolute advantage. The four basic economic questions are: what goods to produce, how to use resources in the production process, who receives the finished goods and when to produce the goods. D) the unemployment rate consists of only frictional and structural unemployment. D) the same whether the tax is collected from the buyer or the seller. PetSmart even offers a Top Dog service that includes a premium shampoo, milk bath conditioner, scented cologne spritz, teeth brushing, and a bandana or bow. a. d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. Second, they are generally less able than are the better off to protect the real value of their incomes and assets from inflation. Option a: This option is incorrect because unit of measure is a function of money as money can be used to measure the value of goods and services. B. C) there are not enough jobs for everyone who wants one. D) decrease; less. Which of the following is a macroeconomics question? D) an increase in consumers' taste for coffee. B) vertical. C) equal to the highest value of an alternative use of the time and money spent on the class. D) a demand curve has shifted to the right. D) Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force. The automobile industry was experiencing the effects of _______ D) GDP is adjusted for increases in drug addiction. The production possibilities curve between tanks and automobiles will appear as a straight line. BOOK Market Leader intermediate 3rd edition. Let n=3n2n1\alpha_n=\frac{3-n}{2 n-1}n=2n13n and n=n2+2n13n22,n=1,2,\beta_n=\frac{n^2+2 n-1}{3 n^2-2}, n=1,2, \ldotsn=3n22n2+2n1,n=1,2,. Several conditions must be met before the state is permitted to commit a person involuntarily: The person has a(n)___________ and is in need of treatment, the person B. net benefit Holding everything else constant, how would this affect the market for video game consoles (a complement to LCD televisions)? Question 1: Multiple Choice Which of the following does macroeconomics endeavor to answer? If the BLS counted persons that are on active military service in the totals for employment, the labor force, or the working-age population, this would _______________ a. A) the law of supply has been violated. C) falls; Marla's architectural design services are no longer bought by Chuck once they're married B) structural D) simplify some aspect of economic life. Cutting taxes _______ A. how households and firms make choices. C) a full-time employee at a pizza parlor who makes more than the minimum wage A. trade-off C) continually declined. The study of national economy as whole. A: Globalization Globalization can be depicted as an interaction by which individuals of the world are Q: A firm in a perfectly competitive market faces a market price of $80, and has a total cost function: A: Introduction We have given a perfectly competitive market. b. real costs. Suppose real GDP is $12.6 trillion and potential GDP is $12.4 trillion. C) below; surplus B. A. Allocative efficiency best explains ________, and productive efficiency best explains________. D) a decrease in oil prices, The aggregate demand curve will shift to the left ________ the initial decrease in government purchases. D. A movement from the production possibilities curve to a point inside the production possibilities curve. a. the government A) increasing government purchases or decreasing taxes. Writing Period 50 minutes . B) the value of the house in 2003 C. Production of nonmilitary goods will decrease. D) lawn care services are deliberately charging low prices because they want to discourage people from maintaining their own lawns. D) Deadweight efficiency, When ________ in a market, the total net benefit to society is maximized. A) ice cream and hot fudge are complements. C) the value of the addition to the capital stock. Chapter 6, P R O B L E M S E T 3 . A. To move the economy back to potential GDP, Congress should ______________ A) a demand curve has shifted to the left. D) technology. C) Consumer surplus measures the net benefit from participating in a market. A. producing more of one good means less of another good can be produced. A. A. b. C) less than 5 times as much as your grandfather in terms of real income. D) movement along the demand curve due to a change in purchasing power brought about by the price change. A) the value of all cars produced by General Motors in the United States The tuition you pay A) $5. A. unlimited wants exceed limited resources. c. Is one-half cost of the game, as this is the second time you have played it C) Yvette pays $50 to join a softball league. C) opportunity D. People should not buy imported fruits and vegetables. One can conclude that Lower disposable income decreases consumption at every price level. Step-by-step explanation. C. Relies on the use of central planning by private firms rather than the government. Electric car enthusiasts want to buy more electric cars at a lower price. a. B) an increase in the number of manufacturers of electric cars. Expert Answer Option b deals with a microeconomi View the full answer Transcribed image text: Which of the following is NOT a macroeconomic question? C) There will be a decrease in the quantity of labor supplied by households. C. Technology is lost. The invisible hand at work. B) ice cream and hot fudge and substitutes. Opportunity cost Q: Choose the statement that does not describe Microeconomics. In 2015, the U.S. auto industry experienced rising sales. B) What determines the production of video game consoles? C) consumer surplus is minimized Posted on February 28th, 2023 Last modified on February 28th, 2023 Comments. Micro Economic 100% (3) 6. C. Macroeconomic failure. Markets are likely to do a better job of allocating resources than government directives. a. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. A) inflation. This change will______________ 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. C. The market mechanism has failed to achieve social efficiency. D) taxes; expenditures, Active changes in tax and spending by government intended to smooth out the business cycle are called ________, and changes in taxes and spending that occur passively over the business cycle are called ________ B. producers deciding what society wants most. D. Competition, Consider the following economic agents: A) There was deflation between 2007 and 2016. B) movement along the demand curve due to a change in relative prices. Directions: You are advised to spend the first 10 minutes reading all of the questions and planning your answers. Which of the following statements about positive economic analysis is true? C. consumers D. Government intervention. C) Corporate income taxes; excise and other taxes With respect to factors of production, which of the following statements is not true? The number of work visas should not be limited by the government. Start. C) risen; risen The income you could have earned B. how to make money in a market economy. Laws and regulations. D) decrease the number of persons in the working-age population. Answer: (D) The economy as a whole. C) the loss of economic surplus when the marginal benefit equals the marginal cost of the last unit produced. D) 15%. B) taxes; the money supply B) there has been an upward movement along a demand curve. C. the tendency of many economic variables to move together in a predictable way over the business cycle. Government intervention may achieve a more optimal outcome than the market mechanism when addressing Classify the following topics as relating to microeconomics or macroeconomics. B) an increase in quantity demanded. Calculate the predetermined overhead allocation rate for each activity. All of these O b. Which of the following is a normative economic statement? How does the increasing use of digital cameras affect the market for traditional camera film? A shift outward of the production possibilities curve. The equilibrium wage in a local labor market is $10 per hour. A technological advance would best be represented by Household income E-Normative, One of the scarce resources that constrain our behavior is time. The Federal Aviation Administration is considering increasing the number of takeoff and landing slots available at Ronal Reagan Washington National Airport b. B. marginal benefit equals the marginal cost. E) too low. It focuses on areas like inflation, economic growth rate, price levels of various goods and services, gross domestic product (GDP), national income and the unemployment rate in a particular country. C. Can a tax cut lead to a government budget surplus? B. Equity a. bi tp eco question points): given the following annual information about hypothetical country, answer the following questions (expenditure approach to gdp) Skip to document. D) a decrease in the minimum wage, Which of the following policies would reduce structural unemployment? (a) Unlimited Wants D) about the same difficulty as with monetary policy. Which of the following is not a durable good? What is Macroeconomics? D) an increase in the labor force. Government directives are likely to do a better job of allocating resources than markets. B) 3%. The production possibilities curve between tanks and automobiles will shift outward. C) The purchasing power of your salary remained constant between 2007 and 2016. D) the payroll tax. Which of the following cause the unemployment rate as measured by the Bureau of Labor Statistics to understate the true extent of joblessness? Which of the following transactions represents the purchase of a final good? b. select the best possible solution. D) the plastic bags that Subway purchases to wrap its sandwiches. A) What determines the minimum wage? They've told our detectives they have no interest in ever putting in the barriers.". D) a decrease in the quantity supplied. Capital, as economists use the term, refers to. D) increased business taxes. On which base structure of economic problems has been installed? C) frictional What is the standard deviation of this random variable (i.e., the risk of being late)? (C) how individual markets work. They always call for opposite outcomes. C. Market success. A. Key Takeaways. Investment, as defined by economists, would not include which of the following? C) looking for work is your only option. A) take away from GDP. C. Theme park construction. How does this affect the market for traditional inkjet printers? d. A) a retired railroad engineer who receives a fixed income payment every month B. Utilizes both market and non market signals to allocate goods and services. Which of the following is a government expenditure, but is not a government purchase? Profitability b. The market mechanism may best be defined as Question 02. Microeconomics answers - Micro Summary exam 1 questions and answers microeconomics exam which of the following is macroeconomics question a:how much would math. B) a decrease in government purchases c. To be an informed citizen [Identify the impact of your changes to the income and corporate tax rates. The tax cut would lower the price level in 2014. If a German firm produces cars in the United States, that production should count towards C) 1.5% True 3Government fixes the floor and ceiling . 1. Required use of pollution control technology that is obsolete. D) the reduction in economic surplus resulting from not being in competitive equilibrium. The Industrial Revolution refers to the rise of the modern factory system in ________ during the late eighteenth and early nineteenth centuries. Households and firms; the economy as a whole, T/F Resources are limited in both wealthy and poor societies, All of the following are criteria frequently applied in judging economic outcomes except, Economics is best defined as the study of, The most common method for graphing the relationship between two variables is by drawing two __________ lines, where the __________ is a horizontal line and the __________ is a vertical line. It does not consider discouraged workers, and hence it is understated. A) the cost of additional education is always higher during recession. C) the interest rate determined by the supply and demand in the money market. Assume that the price for lawn care has fallen and sales of lawn care services have also fallen. From an initial long-run equilibrium, if aggregate demand grows faster than long-run and short-run aggregate supply, then Congress and the president would most likely ________ C) people employed in the underground economy A) income Greater production means factor prices rise. D. workers deciding to produce only what the boss says must be produced. C. The allocation of resources by market forces. Macroeconomics is a branch of economics that depicts a substantial picture. D) seasonal unemployment, Structural unemployment is the result of ____________ B) decrease the measured labor force participation rate. B. B) frictional unemployment equals zero. B. It considers discouraged workers, and hence it is overstated. A. Macroeconomics is focused on the movement and trends in the economy as a whole. C) do not change; overestimates Microeconomics focuses on supply and demand . Profits are always very high and persistent 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. D) allocatively efficient. A) increase the measured unemployment rate. A. All of the above. C) the demand curve shifted to the right resulting in an increase in the equilibrium price. (a) 3,6,12,3,6,12, \ldots3,6,12, Scarce resources and opportunity cost. b. C. Production managers are more concerned with satisfying government's orders than with satisfying consumer wants. The production possibilities frontier model assumes all of the following except____________ This means. b. B) German GDP. A) decrease the measured unemployment rate. You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. \textbf{\hspace{10pt}Activity}&\textbf{Cost}&\hspace{20pt}\textbf{Allocation Base}&\textbf{of Allocation Base}\\ D. Economic growth and market failure. A) updates the market basket every two years, rather than every 10 years. This means that _______ Explain the pitfall of this statement. Most primitive economies concentrate on producing food and shelter - the basic necessities of life. D) legalized marijuana. Which one of the following is a macroeconomic issue? A) average price levels of goods and services in the economy. He faces scarcity because his resources are unlimited known as ___________ Mental illness is a(n)___________ concept, typically D) The government imposes taxes on those who earn beyond a certain amount of income. ii. B) The demand curve for inkjet printers shifts to the left.

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