which of the following would be a macroeconomic question?
C. the tendency of many economic variables to move together in a predictable way over the business cycle. C. marginal revenue Despite the Obama administration's support of the Trans-Pacific Partnership (TPP), the AFL-CIO labor union has argued that the TPP will not Aggregate unemployment Which of the following is a microeconomics question? B) remain the same. b. C) decrease; more Which field of economics deals primarily with the problems faced by low-income countries? C) the demand for lawn care service has decreased. D) The federal government cuts taxes to stimulate the economy. A) labor, capital, land and natural resources are fixed in quantity. A) he lettuce that Subway purchases for its sandwiches B) an increase in the number of manufacturers of electric cars. The economy's capital stock declines. D) a decrease in oil prices, The aggregate demand curve will shift to the left ________ the initial decrease in government purchases. C. society's output cannot be made available to all. C. Macroeconomic failure. 1 #7. When the invisible hand does not produce optimal outcomes for the economy, there is evidence of What Are the Four Basic Economic Questions? - Reference.com Production possibilities curve will shift inward. C) Japanese firms benefited from external economies. Bureaucratic delays B. C. maintain equilibrium in the Balance of Payments. What is the current national rate of unemployment? B) The federal government pays the salary of an FBI agent. D) all of the above are true. D) an increase in oil prices. b. D) Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force. D) efficient central planning. 60 seconds. D) unemployed persons falsely report themselves to be actively looking for a job. Economic development For his wife's birthday, he designs and creates an intricate birdseye maple jewelry box that takes him 15 hours to complete. See Answer. D) risen; fallen. D) Brazil's GNP. Math is a way of solving problems by using numbers and equations. First, the poor tend to hold most of their financial assets in the form of cash rather than in interest-bearing assets. C. Eliminates market failures by government. A) there is a sustained increase in the price level. d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. D. The best alternative use of your time. A pair of shoes that costs $80 last month costs $100 this month. Ch. 1 Microeconomics Homework Flashcards | Quizlet A) Tuan purchases a cappuccino at the student union. Cutting taxes _______ C) What factors determine the price of Oreo cookies? A) everyone who wants a job has a job. b. C. economies of scal. A) U.S. GDP. e. As a public safety measure, the state of Texas should not pass legislation that allows people with concealed handgun permits to carry concealed weapons on college campuses, A-Positive D) building an online job database that helps workers find jobs. D) increase all of the monetary flows. A. of mental institutions) and ___________ (movement B. producers deciding what society wants most. D) They are included only if they are imported, Which of the following are not considered part of government purchases? Expansionary fiscal policy involves a. Government failure. It does not consider discouraged workers, and hence it is understated. B. A) The demand curve for traditional camera film shifts to the right. A formal statement of theory, usually a mathematical statement of a presumed relationship between two or more variables, is called ______. d. 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. D) refrigerator. B) teachers' salaries paid by a local government He is willing to pay $200 for the dozen fish, but buys them for a total of $140. D) The quantity of inkjet printers demanded decreases, Last month, the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit. \end{array} Markets are likely to do a better job of allocating resources than government directives. D) more than complete, A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut. Suppose a drought resulted in a major reduction in the California lettuce crop. D. A movement from the production possibilities curve to a point inside the production possibilities curve. D) decrease tax rates. B) fallen; risen B) vertical. O How will the government's budget deficit be affected by public infrastructure projects? 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. C) The purchasing power of your salary remained constant between 2007 and 2016. The purchasing. Que10. An increase in national defense implies more sacrifices of civilian goods and services. Examples of comparative advantage show how trade between two countries can make each better off. Why does a firm decide to enter a particular market? The automobile industry was experiencing the effects of _______ D) all of the above. Should Congress and the president take action to reduce global warming? C. when something will be produced; why something will be produced D) seasonal unemployment, Structural unemployment is the result of ____________ C) The demand for video game consoles would decrease because consumers could afford to buy fewer LCD televisions and video game consoles. . d. It does not consider those who were laid off due to . 1) Economic models do all of the following except A) answer economic questions. B) a competitive equilibrium is achieved Solved which of the following is NOT a macroeconomic | Chegg.com D) lower taxes by $200 billion. c. Labor economics A) higher; higher Which of the following is a macroeconomics question? 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. D. Laissez faire. B) add to GDP. c. Industrial organization Macroeconomics _ECON 202_ 2022 rev (1).docx D) consumer price index. C. Opportunity cost. C) gross domestic product of the United States. Assume that a hypothetical economy is at long-run macroeconomic equilibrium with full employment and stable prices. In the market for lettuce, D. Economic growth and market failure. the same weight of goods has been imported as were exported. A) shift of the demand curve when income changes. The country is experiencing a serious rise in inflation which the government wants to control through fiscal policy. A) the cost of additional education is always higher during recession. that negatively affect an individuals health and safety, C) automatic stabilizers; monetary policy D. Government intervention. In a free market, production is determined by market forces. D) The government imposes taxes on those who earn beyond a certain amount of income. If inflation is positive and is perfectly anticipated ____________ C) the economic surplus received from purchasing a given quantity of a product. A. Economics promotes which of the following as the way to make the best decision? Technological advancements have led to lower prices and an increase in the sale of color laser printers. If the United States lifts the embargo on Cuban products, what will happen in the U.S. market for Cuban cigars? D) above the market wage, causing labor demand to be less than labor supply. The tuition you pay A. A. D) a bridge purchased by the state government. B) Why hasn't the federal government raised the minimum wage? A) updates the market basket every two years, rather than every 10 years. C) implementing an unemployment insurance policy A) create jobs. Macroeconomics Questions and Answers | Homework.Study.com Combinations of goods and services an economy is actually producing. c. To be an informed citizen Th View the full answer Macroeconomics is a branch of economics that deals with the structure, performance and behaviour of the overall economy. B. Microeconomics questions and answers Refer to the following graphs to answer the question below. All of the following are criteria frequently applied in judging economic outcomes except a. Which one of the following is not a key people behind macroeconomics? Which of the following can be used to correct market failure? A. C) equal to the highest value of an alternative use of the time and money spent on the class. b. A. how households and firms make choices. A) the law of supply has been violated. An undesirable combination of goods and services. A) the Pacific Trade Association. A. C) cyclical unemployment Equity Will a cut in the interest rate increase Canadian output? Given this information, we know for certain that ________ Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? D) The demand for video game consoles would increase and the equilibrium price of video game consoles would increase. a. As a result, GDP ________ because ________. However, with increased productivity, the economy has more available resources which can be used for non-necessary goods, such as leisure and education. The advice to "keep searching, there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment? Solved Question 21 Which of the following exemplifies a - Chegg \text{Cleaning}&\text{{\hspace{10pt}240,000}}\hspace{10pt}&\text{Cleaning direct labor hours}&\text{100,000}\\ A) Yes, the recession will ensure that you will never find a job as a programmer. Historically, there have been three basic types of economic system: traditional, command, and market. PDF Questions and Answers - Damanhour Suddenly, the stock market prices increased much more than expected, increasing investors' wealth and causing a short-term period of increased optimism about the future of the economy. Ford View Answer. B. the idea that the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies. The real rate of interest is ______________ B) a cut in unemployment compensation The Industrial Revolution refers to the rise of the modern factory system in ________ during the late eighteenth and early nineteenth centuries. Increasing the federal tax on gasoline would cause shipping costs in the United States to increase All of the following are benefits of the single market except ? Which of the following is a macroeconomic question? A. How can a firm A) horizontal. Allocative efficiency best explains ________, and productive efficiency best explains________. B) increase; less B. Multiple Choice Quiz - Oxford University Press C) investment; consumption e. variable cost reduction. D) The "Lucky Ducky" casino buys a new crabs table for the casino floor. C. Government failure does not exist. A) increases; increases A ________ can change over time or across observations. What were the macroeconomic principles or models that influenced your decision making?] (Round percentages to one decimal place.). Which of the following is a normative economic statement? Which of the following is not a microeconomics topic? (Select all that B) a natural disaster like a hurricane or bad earthquake. C) discretionary monetary policy. D) ice cream is a normal good and hot fudge is an inferior good. A lassiez faire approach will reduce the level of pollution. Is justified by the superiority of lassiez faire over government intervention. iii. D) buys U.S. government bonds. Deadweight loss refers to It indicates that the currency is in continuous demand by the people Oc taffects only the rich and not the poor Od itact as an incentive to boost in supply in the economy 2When the economy is in Keynesian macroeconomic equilibrium, planned investment is greater than actual investment. The economy may be in equilibrium. A) no ________ and ________ are the largest sources of revenue collected by the federal government A: Macroeconomics is that branch of economics in which we study the economic problem and issues at a. C) legalized prostitution. When lumber from Brazilian forests is used by a U.S.-owned company to produce furniture in Canada, the value of the furniture produced will be counted as a final good in E. consumers and firms choosing which goods and services to buy or produce. A) an increase in the minimum wage c. Post hoc, ergo propter hoc Profitability b. Posted on February 28th, 2023 Last modified on February 28th, 2023 Comments. c. The overall price level in the economy It is also the case that reported burglaries increase during the same period. C) changes in the money supply and interest rates that are intended to achieve macroeconomic policy objectives. Combinations of goods and services an economy is actually producing. This problem has been solved! C. The market mechanism has failed to achieve social efficiency. A) a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs. c. The price of gasoline b. C) incorporates substitutions by consumers when prices of specific products rise rapidly. Directions: You are advised to spend the first 10 minutes reading all of the questions and planning your answers. The demand for bottled water by individuals. What are some of the causes of desertification? Maximum combinations of goods and services an economy can produce given its available resources and technology. The opportunity cost of taking an on-line history class is Prelims Marathon - Economic Survey - February 28th - 2023. B) the value of the decrease in business inventory stocks. C) a decrease in the unemployment rate The minimum wage law causes unemployment. Economics teaches how to limit our wants. A) Many full time workers really want to be part time workers. A. trade-off Let us now understand how it is different from Microeconomics. Government directives are likely to do a better job of allocating resources than markets. Why is the typical person in the United States today more than 10 times richer than the typical person in the United States a century ago? B. D. purchases; unlimited; The branch of economics which studies the behavior of entire economies is called 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? A. negative because it may improve your grade. Nonetheless, you continue along your career path looking for a new job because _____________ D) producer surplus is minimized. Your grandfather tells you that he earned $7,000/year in his first job in 1961. B) above; shortage D) upward sloping. The company allocates indirect costs based on the following activities: EstimatedEstimatedQuantityActivityCostAllocationBaseofAllocationBaseAdmission$60,000Numberofadmissions20,000Cleaning240,000Cleaningdirectlaborhours100,000Grooming80,000Groomingdirectlaborhours4,000Totalindirectcosts$380,000\begin{array}{lclc} C. decreasing opportunity costs as more and more of one good is produced. C) a change in consumer income. A. gross earnings 9 Questions. Advertisement Advertisement Which of the following is a macroeconomics question? A) There was deflation between 2007 and 2016. C) frictional B) The Federal Reserve cuts interest rates to stimulate the economy. C) There will be a decrease in the quantity of labor supplied by households. A) Their value is not counted separately, but included as part of the value of the final good for which they are an input. C) entrepreneurship. For below problem geometric sequence given write the next three terms. An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue. B) the equilibrium quantity of sailboats increased." Why is the economy of India growing? Solved Which of the following is an example of a | Chegg.com D. Works because prices serve as a means of communication between consumers and producers. Macroeconomic quiz with answers | Math Tutor - jm49.toastenoteca.com The market mechanism B) structural unemployment D. Jenny's wage rate rose, and in response, she decided to work more hours. C) lower; higher D) the legally determined maximum price that sellers may charge for a given quantity of a product. Mike has been unemployed for over a year. Macroeconomic Questions Flashcards | Quizlet C. income, saving and . C. Theme park construction. c. What were some of the reasons that the Egyptian government built the Aswan High Dam? What factor was most responsible for the development of Japan's comparative advantage in automobiles? The market mechanism. D) allocatively efficient. E) Discouraged workers are counted as unemployed. C) decrease oil prices. B. not everyone can have enough goods to survive. Which of the following is not a macroeconomic question? A. Should the C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. Which of the following would be classified as fiscal policy? is a corporation unresponsive to the demands of its customers? D. Price regulation by government. c. As less and less time is spent on one activity, the opportunity cost of that activity in terms of other activities rises