D) Lily purchases a new massage table for use in her therapy center. A) The federal government buys a Humvee. b. real costs. Question: Which of the following is a macroeconomics question? If the nominal interest rate is 6% and the inflation rate is 9%, then the real interest rate is For his wife's birthday, he designs and creates an intricate birdseye maple jewelry box that takes him 15 hours to complete. A) during a deep recession. (D) the economy as a whole. C) 3% d. B. Flow (1) represents: A) wage, rent, interest, and profit income. In a free market, production is determined by market forces. B) Persons who collect unemployment benefits report themselves to be searching for a job. Should we have economic growth? With respect to factors of production, which of the following statements is not true? 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 D. Al of the choices are correct. d. Ceteris paribus, Which of the following is not an opportunity cost of attending college? b. Market failure. d. B and C only, T/F On a time series graph, time is measured along the vertical scale, People who eat kale on a regular basis are more likely to exercise every day than people who do not eat kale. Refer to the above diagram. B) Yes, the recession will lower income in my field permanently. = 8.8 - 1.2 F,, + 1.6 FGpp + 6 E (RSP500. Macroeconomics EC112 Flashcards | Quizlet Zero because you knew when you registered for the class that studying would be required. b. B. Which of the following is not a macroeconomic question? A. Should the C) decrease; more Deadweight loss refers to C. do have an economic problem but are solving it. Which of the following would be included in the gross domestic product for 2016? b. C) equal to the highest value of an alternative use of the time and money spent on the class. Which of the following accurately compares discretionary fiscal (C) how individual markets work. 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 A) income B) The tax cut would increase consumption spending more than would a permanent tax cut. Economic growth. True 3Government fixes the floor and ceiling . D) risen; fallen. 1 #7. The aggregate demand and aggregate supply curve intersect. d. Is concerned with proving that capitalism is better than socialism, An efficient market is a market which B) total consumption of goods is greater. Total the statement columns, compute net income (loss), and complete work sheet. D) when real GDP is below but close to potential GDP. A mixed economy A) taxes; interest rates A. A) personal income minus personal taxes. Which one of the following is not a key people behind macroeconomics? How can a firm maximize profits, given the state of the economy? An increase in national defense implies more sacrifices of civilian goods and services. Full employment is not considered to be zero unemployment, because Answered: Which of the following questions are | bartleby For schedule, refer to the archive link given below. B) What determines the production of video game consoles? Compose a sentence using the following word. C. Optimal marginalism B) structural unemployment Macroeconomics MCQ: Multiple Choice Questions 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. A. A. how households and firms make choices. D) risen and declined with different generations, Fiscal policy is defined as changes in federal ________ and ________ to achieve macroeconomic objectives such as price stability, high rates of economic growth, and high employment Which of the following is not a macroeconomic statement? D. all of the above Answer: D.all of the above 2. Question 1 Multiple Choice Which of the following does macroeconomics B) German GDP. If a firm expects that the price of its product will be lower in the future than it is today Depreciation is _________ Select the phrase that correctly completes the following statement. The correct answer is C. Explanation: Macroeconomics tries to know and measure an economy goes, how well it is performing. B. B) taxes; the money supply B What is the optimal number of workers for an ice cream . 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? D. All of the choices are correct. C) ensure safe imports. All of the following are sources of comparative advantage except C.. C. Production managers are more concerned with satisfying government's orders than with satisfying consumer wants. C. An increase in national defense is possible only if we produce more butter. What factors determine the price of carrots? Which one of the following is a macroeconomic issue? is a corporation unresponsive to the demands of its customers? C. Technology is lost. A) the price level in 2016 was greater than the price level in the base year. B. B) The quantity of traditional camera film demanded decreases. B. D. What factors determine the price of electronic cigarettes? The equilibrium wage in a local labor market is $10 per hour. Bill Gates does not face scarcity because he is a billionaire Should the government put a tax on alcohol in an attempt to reduce highway fatalities? Math is a way of solving problems by using numbers and equations. C. decreasing opportunity costs as more and more of one good is produced. D. Government failure. C. income, saving and . He is willing to pay $200 for the dozen fish, but buys them for a total of $140. E. consumers and firms choosing which goods and services to buy or produce. D) The demand for video game consoles would increase and the equilibrium price of video game consoles would increase. Preparation and presentation of Union Budget 2. Expert Answer Option b deals with a microeconomi View the full answer Transcribed image text: Which of the following is NOT a macroeconomic question? A) increasing government purchases or decreasing taxes. A) the value of the house in 2016 D) discretionary fiscal policy; conscious fiscal policy. All of the following events would have this effect except Microeconomics focuses on supply and demand . D) all of the above are true. In 2015, the U.S. auto industry experienced rising sales. A shift outward of the production possibilities curve. D) No, the recession will have no impact on my ability to get a job or my future income. C. how to make money in the stock market. b. select the best possible solution. D. C) the value of all cars produced by Toyota in the United States C) there has been a downward movement along a demand curve. C. There is often a tradeoff between the two. a. A) the cost of additional education is always higher during recession. Solved Which of the following is an illustration of a | Chegg.com D. Jenny's wage rate rose, and in response, she decided to work more hours. 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 ________ A) $5. A) the value of all cars produced by General Motors in the United States D) a student who borrows $10,000 at a nominal interest rate of 5% to finance educational expenses. Need the goods and services the most. A) higher; higher B. D) no one in the economy loses. C) complete D. Higher opportunity costs induce higher output per unit of input. B) The supply curve will shift to the right. Is not a very efficient means of communicating consumer demand to the producers of goods and services. Each point on a demand curve shows B) 3%. c. The alternative uses of time you spend studying \text{Total indirect costs}&\text{\underline{\underline{\$\hspace{5pt}380,000}}}\hspace{10pt}\\ C) implementing an unemployment insurance policy 1. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? Reading Period 10 minutes . The production possibilities curve between tanks and automobiles will shift outward. d. Congress extends the maximum duration for the collection of unemployment benefits from 26-52 weeks, T/F The collection and use of data to test economic theory is called empirical economics, To analyze the relationship between two variables while holding the values of other variables unchanged is a device known as The opportunity cost of taking an on-line history class is Macroeconomics is a branch of economics that deals with the structure, performance and behaviour of the overall economy. Government directives are likely to do a better job of allocating resources than markets. A) decreased government regulations on businesses. B) the underground economy. B) the value of the house in 2003 c. Walmart announced that it will increase its starting wage for employees to $10/hour by Feb 2016 O a False O b. A) he lettuce that Subway purchases for its sandwiches b. D. What goods and services should we produce? A. do not have an economic problem. By definition, economics is the study of Inefficient bureaucracy. B) the supply curve shifted to the left resulting in a decrease in the equilibrium price. B) more than 5 times as much as your grandfather in terms of real income. C) shift of the demand curve due to a change in purchasing power brought about by the price change. c. Focuses on how a business should function You will then have 50 minutes to answer all three of the following questions. C) people employed in the underground economy All of the following are benefits of the single market except ? A family's decision about how much income to save. a. margin of safety. D) changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives. d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. a. A) the money supply and a decrease in interest rates. C) the ups and downs in inflation. a) A French resident buys a Volkswagen car produced in Wolfsburg, Germany. 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. A. Its objective is to understand which kind of forces drive it, and with the information collected try to project how performance can improve. Use the following (partial) chart of accountsaccount numbers in parentheses: Cash (101); Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201); Unearned Landscaping Revenue (236); D. Tyler, Capital (301); D. Tyler, Withdrawals (302); Landscaping Revenue (403); Wages Expense (601), and Landscaping Expense (696). Required use of pollution control technology that is obsolete. C. lawmakers in the government voting on what will be produced. D) the level of technology is fixed and unchanging. In the first half of 2011, automobile sales in the United States were lower than they were in the first half of 2010. Real domestic output is at its maximum level. B) 2.5% Macroeconomics focuses on the performance of b) A French pharmaceutical firm builds a new factory in Poland for its subsidiary. Answer: Demand is defined as the desire of purchasers, consumers, clients, employers, etc., for a particular commodity, service, or other item. The price of steel declined by 3% last year. C. Lassiez faire price policies. A) increase; more A. achieve full employment. MULTIPLE CHOICE QUESTIONS TESTBANK - CHAPTER 3. D. macroeconomics. C) an increase in taxes If market signals result in pollution beyond the optimal level, then bi tp eco question points): given the following annual information about hypothetical country, answer the following questions (expenditure approach to gdp) Skip to document. A) above; surplus Scarcity refers to the situation in which. The term economic system refers to the way in which a society organizes the production and distribution of good and services. b. unit contribution margin. D. Production of nonmilitary goods will decrease. Getting the timing right with fiscal policy is generally _______________ (B) important rather than trivial issues. Solved Which of the following is a macroeconomics question - Chegg C) a strong foreign currency exchange rate. B) the equilibrium quantity of sailboats increased." Because Mike started looking for a new job ______________ b. 7 Principles of Macroeconomics- Chapter 1 C) increase flows (2) and (3) and reduce flows (6) and (7). B) Individual income taxes; social insurance taxes Economics is concerned with prices and quantities of goods and services, both at the individual. Which of the following would be the best measure of the cost of living? Nonetheless, you continue along your career path looking for a new job because _____________ D) The purchasing power of your salary increased between 2007 and 2016. 1. Which of the following explains why the unemployment rate could Explanation: Macroeconomics deals with the economy as a whole. The minimum wage law causes unemployment. (b) the level of aggregate demand determines production, employment,. D) decreasing the money supply and increasing interest rates. C. economies of scal. The opportunity cost of studying for an economics test is C) decreases; increases c. degree of operating leverage. B. A) he tax cut would increase consumption spending less than would a permanent tax cut. C) lower; higher MCQ Questions for Class 12 Economics Chapter 1 - NCERT Books B) below the market wage, causing labor demand to be less than labor supply. Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. Profits are always very high and persistent B) substitution Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. D) $200. C) after regular office hours. A. unlimited wants exceed limited resources. He faces scarcity because his resources are unlimited The third equation represents the investment function, where e and k are parameters. Annes Newton - G00378073- ECON QUIZ 2. Writing Period 50 minutes . All of these O b. Compared to their pre-trade positions, trade makes both countries better off because in each country Discretionary fiscal policy refers to the government's ability to spend money. The company allocates indirect costs based on the following activities: EstimatedEstimatedQuantityActivityCostAllocationBaseofAllocationBaseAdmission$60,000Numberofadmissions20,000Cleaning240,000Cleaningdirectlaborhours100,000Grooming80,000Groomingdirectlaborhours4,000Totalindirectcosts$380,000\begin{array}{lclc} D) the reduction in economic surplus resulting from not being in competitive equilibrium. The real rate of interest is ______________ A. B) increase; less How consumers make purchasing decisions c. Inflation, unemployment, and economic growth d. Final decision making A When every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it, ________ occurs E. consumers and firms choosing which goods and services to buy or produce. a. This means. In a market economy, the people who receive the goods and services that are produced are those who D. The best alternative use of your time. B. spending, production and saving. 60 seconds. You have majored in computer science and, because of the recession, have difficulty in finding a job. B) the sum of consumer and producer surplus. D) the firm will not change supply until it knows for certain what will happen to its price. B) one's property rights. C. normative economics. B. A) an increase in demand. Explore the definition and types of economics including microeconomics and macroeconomics and. As a result, _____________ a. B) the value of all cars produced by Ford in Mexico C. A centrally planned economy A) nondurable goods; durable goods More teenagers enter the labor force. The doctrine of lassiez faire is based on the belief that B. Macroeconomics is a branch of economics that depicts a substantial picture. A) marginal a. C) decrease oil prices.
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