C) make economic ideas explicit and concrete for use by decision makers. Solved which of the following is NOT a macroeconomic | Chegg.com Which of the following can be used to correct market failure? A shift outward of the production possibilities curve. A. public economics. B) price charged for laptop computers by Dell. 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? Which of the following would be included in the gross domestic product for 2016? Flow (1) represents: A) wage, rent, interest, and profit income. Deadweight loss refers to With respect to factors of production, which of the following statements is not true? The equilibrium wage in a local labor market is $10 per hour. b. A) those that borrow money lose. B) continually risen. C) complete A) total employment is greater. Which of the following is the best example of land? A) fallen; fallen A) a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The economy has gone into a recession. C. the highest valued alternative that must be given up to engage in an activity. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? E) the cost of tuition and fees only. in the blanks. If the United States lifts the embargo on Cuban products, what will happen in the U.S. market for Cuban cigars? B) automobile If your nominal wage rises faster than the price level, we can say your real wage has ________ and the purchasing power of your income has ________ 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) structural Should Congress and the president take action to reduce global warming? A) employed C. consumers If North Korea is currently producing at effciency, and it proceeds to increase the size of its military, then, as long as nothing else changes, its D. Allocative efficiency. B. a nation's poverty level increases faster than its population. B) Consumer efficiency TEST 1 6 March 2019, answers - MULTIPLE CHOICE QUESTIONS - StuDocu b. Which of the following transactions represents the purchase of a final good? How can a firm maximize profits, given the state of the economy? Which of the following would increase the unemployment rate? Should you go back to school and get a second major? In this initiative, you can attempt 10 subjective MCQs on a daily basis. C) increasing the money supply and decreasing interest rates. C) Brazil's GDP. The decision about what goods and services will be produced in a market economy is made by c. functional costs. A) falls; Marla's work takes place in the underground economy once she's married Factors of production and price signals. D) all of the above are true. D. Higher opportunity costs induce higher output per unit of input. D) quantity of Dell employees. D) What determines the level of U.S. imports and exports? In the past two decades the United States lost its comparative advantage in automobiles to Japan. A) Tuan purchases a cappuccino at the student union. . B) substitution \text{Admission}&\text{\$\hspace{10pt}60,000}\hspace{10pt}&\text{Number of admissions}&\text{\hspace{5pt}20,000}\\ D) a contractionary; an expansionary. A) lower government purchases by an amount less than $200 billion. [Questions] Mains Marathon I Daily Answer Writing I Feb 28th, 2023. When Chuck and Marla get married, Marla continues to work on designing the home, but she no longer charges Chuck for her work. 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. . Electric car enthusiasts want to buy more electric cars at a lower price. a. Macroeconomics, 4e (Hubbard/O'Brien) Chapter 1 Economics: Foundations The Federal Aviation Administration is considering increasing the number of takeoff and landing slots available at Ronal Reagan Washington National Airport E. consumers and producers. Cutting taxes _______ D) the demand curve shifted to the left resulting in a decrease in the equilibrium price. Which of the following is a microeconomics question? C) a decrease in taxes B) consumption; investment C) disposable personal income plus depreciation plus personal taxes. 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 country is experiencing a serious rise in inflation which the government wants to control through fiscal policy. Choose the correct option. B) Canada's GDP. Every society faces economic trade-offs. The use of market signals and government directives to select economic outcomes. Annes Newton- macro economics quiz 2 - Annes Newton - G00378073- ECON The economy may be in equilibrium. Which of the following is a normative economic statement? C) the value of the addition to the capital stock. C) The federal government pays out an unemployment insurance claim. Ask an Expert. A) taxes; interest rates It is also the case that reported burglaries increase during the same period. To understand society and global affairs The exports are equal to import. C) lower; higher Dear Friends, We are posting prelims marathon MCQs for today. B. D) seasonal unemployment, Structural unemployment is the result of ____________ Productive efficiency Economics involves allocating resources to meet peoples' needs and desires for goods and services. Which of the following is not one of the three core economic issues that must be resolved? C) those that hold paper money lose. B) remain the same. C. Production of nonmilitary goods will decrease. Answer: B Use the following diagram to answer questions 36-39: 36. Macroeconomic Questions Flashcards | Quizlet D) a decrease in the quantity supplied. Which of the following accurately compares discretionary fiscal The substitution bias in the consumer price index refers to the idea that consumers ________ the quantity of products they buy in response to price, and the CPI does not reflect this and ________ the cost of the market basket A. B) Persons who collect unemployment benefits report themselves to be searching for a job. C) decrease. A. achieve full employment. D) unemployed persons falsely report themselves to be actively looking for a job. B) relative abundance of labor and capital. Where in Oceania are outrigger canoes used? a. D. All of the choices are correct. B. B) an increase in the unemployment rate 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? Given that, the question "According to the Bureau of Economic Analysis, what has been the average annual level of inflation (as measured by the GDP Deflator) over the past 10 years?" You have majored in computer science and, because of the recession, have difficulty in finding a job. 3. In the following macroeconomic system, find the parametric Mike has been unemployed for over a year. C) there is a decline in the price level. D) producer surplus is minimized. B) The purchasing power of your salary fell between 2007 and 2016. Prelims Marathon - Economic Survey - March 1st - 2023. It converts normative analysis into positive C. unlimited resources exceed limited wants. B) a cut in unemployment compensation a. Investment, as defined by economists, would not include which of the following? A) The demand curve for traditional camera film shifts to the right. D. Government failure. b. C) Toby buys a new lawn mower to use in his lawn care business. D) the firm will not change supply until it knows for certain what will happen to its price. The minimum wage law causes unemployment. C) implementing an unemployment insurance policy If the nominal interest rate is 6% and the inflation rate is 9%, then the real interest rate is B) unemployed A. Should we have economic growth? A. D) rises; Marla becomes more productive once she's married. C) No, the recession will most likely be short-lived and I can get a job after it is over. C) after regular office hours. D) an increase in consumers' taste for coffee. A) higher; higher A) Anytime you have to decide which action to take you are facing an economic trade-off. Posted on March 1st, 2023 Last modified on March 1st, 2023 Comments. B) the value of the decrease in business inventory stocks. How does the increasing use of digital cameras affect the market for traditional camera film? C) a discouraged worker A) 2% O How will the government's budget deficit be affected by public infrastructure projects? C) the economic surplus received from purchasing a given quantity of a product. B) vertical. B) a competitive equilibrium is achieved Profits are always very high and persistent = 8.8 - 1.2 F,, + 1.6 FGpp + 6 E (RSP500. A. B. A point on a nation's production possibilities curve represents A) Technological change occurs at a faster rate in Europe, so structural unemployment is higher in Europe. D) depreciation. c. Marginal cost 60 seconds. Given this information, we know for certain that ________ A) inflation. B) Trade Without Borders. Suppose real GDP is $12.6 trillion and potential GDP is $12.4 trillion. Should the government attempt to influence the interest rate to lower inflation? D) The "Lucky Ducky" casino buys a new crabs table for the casino floor. You earned $30,000 in 2007, and your salary rose to $80,000 in 2016. d. Eliminating the trade embargo with Cuba would increase the number of Cuban cigars available in the United States Thus we can say that it is that part of economic theory which studies the economy in its totality or as a whole. C) an increase in unemployment insurance payments D. topics such as unemployment, inflation, and economic growth. Which of the following is a macroeconomics question? A. He hasn't looked for a job in the last three months, but he's just started looking for work again. A. Which of the following is a positive economic statement? You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Economics teaches how to limit our wants. Upon your graduation from college, you find that the economy is in recession and the unemployment rate is relatively high. C) The demand for video game consoles would decrease because consumers could afford to buy fewer LCD televisions and video game consoles. b. Step-by-step explanation. a. d. D) legalized marijuana. b. consumers D) allocatively efficient. A. C) builds another assembly plant in the United States. 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. D) The federal government cuts taxes to stimulate the economy. A. do not have an economic problem. A) there is a sustained increase in the price level. MCQs on Introduction to Macroeconomics - BYJUS Scarcity refers to the situation in which. A) The federal government passes tax cuts to encourage firms to reduce air pollution. B) change; underestimates Macroeconomics is a branch of economics that depicts a substantial picture. 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. b. unit contribution margin. Question 20. C) ice cream and hot fudge are normal goods. (a). A) -9.5% B) There is much less disagreement among economists over normative economic analysis than over positive economic analysis. All of the above. Preparation and presentation of Budget for state governments under President's Rule 3. B) German GDP. Which of the following is a macroeconomics question? is a corporation unresponsive to the demands of its customers? A) the money supply and a decrease in interest rates. Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? D) decrease the number of persons in the working-age population. Maximum combinations of goods and services an economy can produce given its available resources and technology. This means Which of the following individuals would be most negatively affected by anticipated inflation? Simple economies can be described in terms of three major economic d. The unemployment rate, Does the "richest man in the world" face scarcity, or does scarcity only affect those with more limited incomes and lower net worth? E. it is easier to book holidays in member countries. These firms are reacting to which of the three key economic ideas? D) upward sloping. Which of the following best defines economics? a. A) increase in demand; decrease in demand occurred. C) the loss of economic surplus when the marginal benefit equals the marginal cost of the last unit produced. C. What will be the prices of goods and services; how will these goods and services beproduced; and who will receive them? Why is the economy of India growing? C) the interest rate determined by the supply and demand in the money market. 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. Expansionary fiscal policy involves Combinations of goods and services an economy is actually producing. A) the cost of additional education is always higher during recession. C. All points inside the curve. B. Undiscovered natural resources. You . B. the person is unable to care for himself or herself, also C) more difficult than with monetary policy. A) will lower disposable income and lower spending. the same weight of goods has been imported as were exported. D) simplify some aspect of economic life. Microeconomics vs. Macroeconomics: A Simple Guide - Investopedia The two policies may have similar objectives, which are to foster economic development and stability; nevertheless, the ways . C) GDP is adjusted for changes in crime rates. Compose a sentence using the following word. C) equity \hline\\ BOOK Market Leader intermediate 3rd edition. D) gross national product of Canada and the gross national product of the United States. Raising the income tax decreases the amount of disposable income available to those households. In a market economy, who decides what goods and services will be produced? D) the decline in the value of the stock market, net of dividends. D) automatic monetary policy, Since the Social Security system began in 1935, the number of workers per retiree has __________ \textbf{\hspace{10pt}Activity}&\textbf{Cost}&\hspace{20pt}\textbf{Allocation Base}&\textbf{of Allocation Base}\\ B. marginal benefit equals the marginal cost. A) 5 times as much as your grandfather in terms of real income. B. B. Report an issue. Rational cost A) a retired railroad engineer who receives a fixed income payment every month To move the economy back to potential GDP, Congress should ______________ C. The government should subsidize solar power for homeowners. The income you could have earned B) There will be an increase in the quantity of labor demanded by firms. C. economies of scal. Please don't take his comments (a) personal, (b) personally. As more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities falls A) take away from GDP. B) more than 5 times as much as your grandfather in terms of real income. PDF Questions and Answers - Damanhour c. Walmart announced that it will increase its starting wage for employees to $10/hour by Feb 2016 A) The supply of video game consoles would increase and the equilibrium price of video game consoles would decrease. B. B. spending, production and saving. E. consumers and firms choosing which goods and services to buy or produce. According to the text, economists consider full employment to occur when C) the demand curve shifted to the right resulting in an increase in the equilibrium price. A) Individual income taxes; corporate income taxes How does this affect the market for traditional inkjet printers? The market mechanism. The doctrine of lassiez faire is based on the belief that D) decrease; less. Reading Period 10 minutes . D) an increase in oil prices. C) clothing C) A state government cuts taxes to help the economy of the state. Based on this evidence, Tecumseh has experienced C) a 12-inch Subway sandwich purchased by a student a. b. The money-creating potential in the banking system is simply the amount of new money that can be created using the excess reserves of the bank. Answered: Which of the following questions are | bartleby Microeconomics is the study of a single unit or a single firm whereas the macroeconomics is.. (a). C) Discouraged workers are not counted as unemployed. c. The price of gasoline 19 If the short-run aggregate supply curve intersects with the aggregate demand curve at a point that is greater than the long-run . Expansionary fiscal policy to prevent real GDP from falling below potential real GDP would cause the inflation rate to be ________ and real GDP to be ________. c. degree of operating leverage. A) GDP rises by $1,875. The market mechanism at work. D. What factors determine the price of electronic cigarettes? What is the standard deviation of this random variable (i.e., the risk of being late)?

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