The price of steel declined by 3% last year. B. A) Consumer surplus measures the difference between the highest price a consumer is willing to pay for a product and the price she actually pays. B) by more than C) complete C) Apple computer buys computer processors from Intel. B. D) The demand curve for traditional camera film shifts to the left. Prelims Marathon - Economic Survey - February 28th - 2023 D) the unemployment rate consists of only frictional and structural unemployment. D) a decrease in the quantity supplied. a. Microeconomics Combinations of goods and services an economy is actually producing. Upon your graduation from college, you find that the economy is in recession and the unemployment rate is relatively high. D. topics such as unemployment, inflation, and economic growth. B) The tax cut would increase consumption spending more than would a permanent tax cut. The decision about what goods and services will be produced in a market economy is made by He hasn't looked for a job in the last three months, but he's just started looking for work again. Should we have economic growth? C. when something will be produced; why something will be produced B. Solved Which of the following is an illustration of a | Chegg.com a. A) the money supply and a decrease in interest rates. A mixed economy C) demographics In addition to selling pet food and pet products, PetSmart also offers dog grooming services including baths, nail trimming, teeth brushing, and aromatherapy to reduce everyday stress, and nail polish and stickers. Adam Smith's invisible hand is now called B) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale. The Industrial Revolution refers to the rise of the modern factory system in ________ during the late eighteenth and early nineteenth centuries. b. The marginal propensity to consume (MPC . A. D. all of the above Answer: D.all of the above 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 Microeconomics is the study of Q. D) on foreign soil. The economy may be in equilibrium. Is not a very efficient means of communicating consumer demand to the producers of goods and services. Which of the following is a microeconomics question? B) teachers' salaries paid by a local government Economics is the study of the ________ people make to attain their goals, given their________ resources. D) decreasing the money supply and increasing interest rates. D) decrease tax rates. Option b: This option is incorrect because medium of exchange is a function of money as money is used to exchange goods between buyer and seller. We can conclude, therefore, that increased ice cream sales cause an increase in burglaries." A) the price level in 2016 was greater than the price level in the base year. B) Marginal benefit is the additional benefit to a consumer from consuming one more unit of a product. D) zero because there is no classroom time involved if you are enrolled in the course. Sarah is a full-time student who is not looking for work. Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. This tax is sometimes referred to as Oxford University Press | Online Resource Centre | Multiple choice d. sensitivity analysis. C. Want the goods and services the most. B. Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. A. public economics. The Bureau of Economic Analysis calculates a number of different measures of inflation: the GDP Deflator, the Consumer Price Index, the Wholesale Price Index, etc. A) the supply curve shifted to the left resulting in an increase in the equilibrium price. Inefficient bureaucracy. D) do not change; underestimates. A) urniture The third equation represents the investment function, where e and k are parameters. B. C) ensure safe imports. c. producers B. how something will be produced; when something will be produced d. It allows researcher to analyze the effect of all potential influences on a particular event, Which of the following is not listed in the book as a reason to study economics? B) The demand for video game consoles would decrease and the equilibrium price of video game consoles would decrease. B. Utilizes both market and non market signals to allocate goods and services. How should we produce goods and services? By how much and in what direction does GDP change as a result of his efforts? FortheYearsEndedDecember31,20Y2and20Y1. With respect to factors of production, which of the following statements is not true? Report an issue. c. To be an informed citizen The following macroeconomic projected return models =. D) depreciation. Based on this evidence, Tecumseh has experienced O a False O b. If the variables along the x-axis and y-axis move in opposite directions, there is a ________ relationship between the two variables. Calculate the predetermined overhead allocation rate for each activity. a. C) the firm has an incentive to increase quantity supplied now and decrease quantity supplied in the future. D) incorporates substitutions by consumers when prices of specific products fall rapidly. D) GDP falls by $1,875. C) more difficult than with monetary policy. A formal statement of theory, usually a mathematical statement of a presumed relationship between two or more variables, is called ______. Unemployment is too high. All points on the curve. Why has the unemployment rate been nearly twice as high in Europe as in the United States in recent years? The company allocates indirect costs based on the following activities: EstimatedEstimatedQuantityActivityCostAllocationBaseofAllocationBaseAdmission$60,000Numberofadmissions20,000Cleaning240,000Cleaningdirectlaborhours100,000Grooming80,000Groomingdirectlaborhours4,000Totalindirectcosts$380,000\begin{array}{lclc} B. firm could more readily exploit. d. Why do some countries grow faster than others? "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. Explanation: Macroeconomics deals with the economy as a whole. It is an example of the post hoc fallacy An oligopolistic industry consists of only two firms, Angel& D) an increase in the price of gasoline. A) increase; more B) decrease government spending. d. Eliminating the trade embargo with Cuba would increase the number of Cuban cigars available in the United States D) taxes. Would a projects NPV for a typical firm be higher or lower if the firm used accelerated rather than straight-line depreciation? A) above; surplus C) automatic stabilizers; monetary policy B) What determines the production of video game consoles? Which one of the following is a macroeconomic issue? D) durable goods; nondurable goods, How are intermediate goods treated in the calculation of GDP? B) ice cream and hot fudge and substitutes. C) 3% 300+ TOP Macroeconomics MCQs and Answers Quiz Exam The "guns versus butter" dilemma that all nations confront is that although this definition differs from state to state. A) stayed roughly the same. C.. 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) the value of all cars produced by Toyota in the United States B) unattainable b. D) decrease; less. A. unlimited wants exceed limited resources. You earn _________ C. The market mechanism has failed to achieve social efficiency. Which of the following is a macroeconomic question? A. What determines How do you go about weighing the alternatives? D. a country's population is larger than its resource base. known as ___________ Mental illness is a(n)___________ concept, typically A. A) the law of supply has been violated. c. What were some of the reasons that the Egyptian government built the Aswan High Dam? B) add to GDP. b. Prelims Marathon - Economic Survey - February 28th - 2023. D) The "Lucky Ducky" casino buys a new crabs table for the casino floor. The higher price caused the supply of sailboats to increase.". C) the loss of economic surplus when the marginal benefit equals the marginal cost of the last unit produced. If a minimum wage of $15 per hour is imposed, which of the following will occur? C) consumer surplus is minimized B) There is much less disagreement among economists over normative economic analysis than over positive economic analysis. A. do not have an economic problem. (a) Unlimited Wants Flow (1) represents: A) wage, rent, interest, and profit income. How do you go about allocating your time in a given day among competing alternatives? B) productive efficiency For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. The best alt. Electric car enthusiasts want to buy more electric cars at a lower price. B. microeconomics. Persistence is A. the tendency for declines in economic activity to be followed by further declines, and for growth in economic activity to be followed by more growth. B. A) a demand curve has shifted to the left. (b) 81,54,36,81,54,36, \ldots81,54,36,. B) real GDP per person C) falls; Marla's architectural design services are no longer bought by Chuck once they're married The tuition you pay C. society's output cannot be made available to all. Question 02. The market mechanism at work. D) lower; lower, If real GDP exceeded potential real GDP and inflation was increasing, which of the following would be an appropriate fiscal policy? President Obama has discussed raising income taxes for individuals earning over $250,000 in income. Combinations of goods and services an economy is actually producing. C) investment; consumption a. Macroeconomic Policy and Poverty Reduction - International Monetary Fund Annes Newton - G00378073- ECON QUIZ 2. Expected inflation is 2.3% and actual inflation may be greater by 0.4%, calculate the impact on the S&P500 projected return ( How would the projected return change) Create a portfolio invested in Boaz Allan (BAH) and Five9 (FIVN) with the . A) The demand curve for traditional camera film shifts to the right. What factors determine the price of carrots? B. a) A French resident buys a Volkswagen car produced in Wolfsburg, Germany. B. A) he lettuce that Subway purchases for its sandwiches

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