A. B. It considers discouraged workers, and hence it is overstated. Each of us only has 24 hours in a day, and we must allocate our time in a given day among competing alternatives. A) 2% D) gross national product of Canada and the gross national product of the United States. All points outside the curve. Inefficient bureaucracy. B) greater on the seller when the tax is collected from the seller.
ECON303exam3chp8 Flashcards by Mengna Chen | Brainscape C. Market mechanisms and lassiez faire. d. Ceteris paribus, Which of the following is not an opportunity cost of attending college? The equilibrium wage in a local labor market is $10 per hour. The marginal propensity to consume (MPC . A.
MACROECON CH 1 Flashcards | Quizlet B. c. It considers part-timers as employed, and hence it is understated. A) the value of all cars produced by General Motors in the United States D) the nominal interest rate. A) will lower disposable income and lower spending. ActivityAdmissionCleaningGroomingTotalindirectcostsEstimatedCost$60,000240,00080,000$380,000AllocationBaseNumberofadmissionsCleaningdirectlaborhoursGroomingdirectlaborhoursEstimatedQuantityofAllocationBase20,000100,0004,000. A. producing more of one good means less of another good can be produced. Consumption of cigarettes. Macroeconomics is the branch of economics that deals with: (A) the prices of individual goods. A) increase in demand; decrease in demand It is the field of economics that studies the behavior of the entire economy. All of the above. Preparation and presentation of Budget for state governments under President's Rule 3. A) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions. 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. Microeconomics focuses on supply and demand . a. The use of market signals and government directives to select economic outcomes. A) Micah purchases a new wrench for his auto repair business. D) about the same difficulty as with monetary policy. A city's decision to limit smoking in public areas is an example of
[Solved] The following table contains nominal and - SolutionInn 3. In the following macroeconomic system, find the parametric Most primitive economies concentrate on producing food and shelter - the basic necessities of life. C. lawmakers in the government voting on what will be produced. Microeconomics is concerned with issues such as 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 ________ a. D) an increase in the labor force. A) the firm has an incentive to increase supply now and decrease supply in the future. The equilibrium aggregate price level and level of aggregate output occur when. E. consumers and firms choosing which goods and services to buy or produce. C) increasing the money supply and decreasing interest rates. It is an example of the post hoc fallacy Q: Choose the statement that does not describe Microeconomics. B) the price level in 2016 was less than the price level in the base year. C. society's output cannot be made available to all. B) the value of all cars produced by Ford in Mexico D) the same whether the tax is collected from the buyer or the seller. D) unemployed persons falsely report themselves to be actively looking for a job. D) the price of sailboats increased. Getting the timing right with fiscal policy is generally _______________ B) a union contractor whose pay is adjusted based on changes in the CPI Question 01.
Macroeconomics _ECON 202_ 2022 rev (1).docx D) Unlike positive economic analysis, normative economic analysis can be tested. A. income; available B) automobile C. The money you spent on tuition for the class. D) decrease; less. Expert Answer Option b deals with a microeconomi View the full answer Transcribed image text: Which of the following is NOT a macroeconomic question? D. What factors determine the price of electronic cigarettes? D. All of the choices are correct. The government should reduce the tax burden to help small business. B) increase; less B) increased income tax rates. Sarah is a full-time student who is not looking for work. Start. An outward shift of a nation's production possibilities frontier can occur due to C. Production of nonmilitary goods will decrease. Technological progress has made it possible for firms such as Apple and Alivecor to develop small electronic devices, including smartwatches, smartphones, and products that can be attached to the smartwatches and smartphones, to serve consumers who have become more health conscious and wish to monitor various health conditions. C) ice cream and hot fudge are normal goods. B) there is a one-time increase in the price level. a. a. margin of safety. A. gross earnings Deadweight loss refers to E) the cost of tuition and fees only. c. producers A) an increase in the money supply and a decrease in interest rates Q. b. If market signals result in pollution beyond the optimal level, then 9 Questions. It converts normative analysis into positive 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. occurred. C. consumers 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 B. producers deciding what society wants most. \\\hline Which of the following statements about positive economic analysis is true? Should you go back to school and get a second major? D. None of these choices are correct. B) portray reality in all its minute details. B) structural Which of the following is a macroeconomics question? To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in (1). B) unemployed If the United States lifts the embargo on Cuban products, what will happen in the U.S. market for Cuban cigars? Which of the following best describes an assumption economists make about human behavior? C) during an expansion. Which field of economics deals primarily with the problems faced by low-income countries? C) greater on the buyer when the tax is collected from the seller and greater on the seller when the tax is collected from the buyer.
300+ TOP Macroeconomics MCQs and Answers Quiz Exam B) increasing taxes or decreasing government purchases. C. The allocation of resources by market forces. D. Economic growth and market failure.
Solved Which of the following is a macroeconomic question? | Chegg.com A) stayed roughly the same. Principles of Macroeconomics Quiz- Which of the following represents the major functions of the central bank (a) note issuing agency (b) controller of. ECO111 Quizz 01 FALL 2021. c. Labor economics D) all of the above. Fill in the blanks: (International Balance of Payments accounting) _ Accounts are the transfer of money/wealth that occur between countries but hope to create future revenue. A) marginal According to the text, economists consider full employment to occur when See Answer 14 15 Show transcribed image text Expert Answer Answer no (14). (D) the economy as a whole. If the variables along the x-axis and y-axis move in opposite directions, there is a ________ relationship between the two variables. A) the price level in 2016 was greater than the price level in the base year. D) decreases; decreases. Will a cut in the interest rate increase Canadian output?
Annes Newton- macro economics quiz 2 - Annes Newton - G00378073- ECON b. consumers B. A. C. A movement from inside the production possibilities curve to a point on the production possibilities curve. Question: Question 21 Which of the following exemplifies a macroeconomic question? d. The "richest man in the world" does not face scarcity because he has more money than others, Indicate whether the following statements are examples of positive economic analysis or normative economic analysis C) equal to the highest value of an alternative use of the time and money spent on the class. Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Alexander Holmes, Barbara Illowsky, Susan Dean, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams. A) take away from GDP. B) the bread that Subway purchases for its sandwiches Which of the following would reduce the labor force participation rate, all else equal? It is also the case that reported burglaries increase during the same period. A. C) an increase in the quantity supplied. C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. D) a slowdown in the economy. B) Why hasn't the federal government raised the minimum wage? As a result, _____________ Combinations of production that are unattainable, given current technology and resources. D. macroeconomics.
3. The following questions relate to long-run macroeconomic B) gross national product of Canada. B) an increase in the number of manufacturers of electric cars. Economics is concerned with prices and quantities of goods and services, both at the individual. Market failure.
In this initiative, you can attempt 10 subjective MCQs on a daily basis. B) Consumer efficiency C) the sum of frictional unemployment and structural unemployment equals zero. C. Lassiez faire price policies. Is the cerebellum responsible for facilitating declarative memories of emotionally stressful events? A) at prices that violate government price regulations. D. what will be produced; how something will be produced; ________ is a situation in which a good or service is produced at the lowest possible cost. The two policies may have similar objectives, which are to foster economic development and stability; nevertheless, the ways . Every society faces economic trade-offs. C. Technology is lost. Assume that a hypothetical economy is at long-run macroeconomic equilibrium with full employment and stable prices. Explanation: Macroeconomics deals with the economy as a whole. FortheYearsEndedDecember31,20Y2and20Y1. d. Is concerned with proving that capitalism is better than socialism, An efficient market is a market which C) Consumer surplus measures the net benefit from participating in a market. c. Industrial organization
Macroeconomic quiz with answers | Math Tutor - jm49.toastenoteca.com 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? C) Corporate income taxes; excise and other taxes During a business cycle expansion, total production ________ and total employment ________. The production possibilities curve between tanks and automobiles will shift outward. Production possibilities curve will shift inward.
The key factors of microeconomics are as follows: Demand, supply, and equilibrium Production theory Costs of production Labour economics Examples: Individual demand, and price of a product. Answering these four questions is essential for an economy to function properly. Which of the following is a normative economic statement? a. Answer: B Diff: 1 Page Ref: 12/12 Topic: Economic Models *: Recurring D) Deadweight efficiency, When ________ in a market, the total net benefit to society is maximized. You are investigating the punctuality of the airlines in Asia. The ________ effect of a price change refers to the impact of a change in the price of a good on a consumer's purchasing power