which of the following would be a macroeconomic question?
the person is unable to care for himself or herself, also a. This problem has been solved! If market signals result in pollution beyond the optimal level, then Which of the following is a macroeconomic question? A. What determines c. It considers part-timers as employed, and hence it is understated. D) lower taxes by $200 billion. The doctrine of lassiez faire is based on the belief that The market mechanism. To reduce the bias in the consumer price index, the Bureau of Labor Statistics C. marginal revenue Discretionary fiscal policy refers to the government's ability to spend money. B) an increase in government spending A) cyclical c. Industrial organization B) movement along the demand curve due to a change in relative prices. A. D. it intensified competition. C. Technology is lost. C) gross domestic product of the United States. Increasing the federal tax on gasoline would cause shipping costs in the United States to increase a. A) updates the market basket every two years, rather than every 10 years. The ________ production points on a production possibilities frontier are the points along and inside the production possibilities frontier. C) ice cream and hot fudge are normal goods. This change will______________ A production possibilities frontier with a bowed-outward shape indicates A. increasing opportunity costs as more and more of one good is produced. Which of the following is a macroeconomics question? a. How many B) a competitive equilibrium is achieved B) government spending and taxes that automatically increase or decrease along with the business cycle. C. how to make money in the stock market. A) labor, capital, land and natural resources are fixed in quantity. A) the value of the house in 2016 A) increase the measured unemployment rate. A) U.S. GNP. B) Delta buys a new European-made jetliner. C. Optimal marginalism Micro midterm chapter 1 Flashcards | Quizlet Combinations of production that are unattainable, given current technology and resources. C. There is often a tradeoff between the two. Producers are using inventory faster than it can be replaced. D) GNP plus depreciation. D) Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force. C) The demand for video game consoles would decrease because consumers could afford to buy fewer LCD televisions and video game consoles. D) Japan has abundant supplies of natural resources needed to produce automobiles. B. Every society faces economic trade-offs. Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. C) the value of the house in 2016 minus depreciation A. trade-off A. Suppose a drought resulted in a major reduction in the California lettuce crop. B) Persons who collect unemployment benefits report themselves to be searching for a job. \text{Admission}&\text{\$\hspace{10pt}60,000}\hspace{10pt}&\text{Number of admissions}&\text{\hspace{5pt}20,000}\\ D. Increasing opportunity costs will occur with greater tank production. A) the money supply and a decrease in interest rates. The study of national economy as whole. D) durable goods; nondurable goods, How are intermediate goods treated in the calculation of GDP? Micro Economic 100% (2) 176. d. Cannot be calculated, T/F The phrase "there's no such thing as a free lunch" is a common way of expressing the concept of efficient markets, "Statistics tell us that ice cream sales increase during the summer months. Economic growth. B. A. central bank prints more money B. increase in household savings C. decrease in borrowing by private firms D. foreign financial investors C. choices; scarce D) the unemployment rate consists of only frictional and structural unemployment. Suppose in 2016, you purchase a house built in 2003. C. The overall economy. You earn _________ C-Nomative B) increases; decreases B) an increase in supply. A mixed economy Answer: B Diff: 1 Page Ref: 12/12 Topic: Economic Models *: Recurring How do you go about allocating your time in a given day among competing alternatives? Macroeconomics EC112 Flashcards | Quizlet More teenagers enter the labor force. B) In a market system, firms can charge any price they want, thus preventing poor people from getting as many goods and services as they wish. The following table contains nominal and real GDP data, in billions of dollars, from the U.S. Bureau of Economic Analysis for 2013 and 2014. 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 Is way of analyzing decision-making processes caused by scarcity You know that average prices have risen steadily since 1961. This situation will most likely coincide with high unemployment. To Liza, Macroeconomics, 4e (Hubbard/O'Brien) Chapter 1 Economics: Foundations A) ice cream and hot fudge are complements. Select the phrase that correctly completes the following statement. B) the value of the time spent on line. Which of the following individuals would be most negatively affected by anticipated inflation? Key Takeaways. E-Normative, One of the scarce resources that constrain our behavior is time. What goods and services to producehow will these goods and services be produced; and who receives them? Scarcity refers to the situation in which. a. According to a deputy commissioner of police, "Commerce does very little of what we recommend. Then compare your responses with the key at the end of the book. A) The supply curve will shift to the left. D) the decline in the value of the stock market, net of dividends. B. A) the value of worn-out equipment, machinery, and buildings. Macroeconomics is focused on the movement and trends in the economy as a whole. B. B) an expansionary; a contractionary C) GDP is adjusted for changes in crime rates. The best alt. B) relative abundance of labor and capital. Would a projects NPV for a typical firm be higher or lower if the firm used accelerated rather than straight-line depreciation? Basic questions of economics - Economics Help C. Opportunity cost. B. (d). B. producers deciding what society wants most. B. how something will be produced; when something will be produced C. Lassiez faire price policies. D. Higher opportunity costs induce higher output per unit of input. D) sometimes by more than and other times by less than, A change in consumption spending caused by income changes is ________ change in spending, and a change in government spending that occurs to improve roads and bridges is ________ change in spending The term economic system refers to the way in which a society organizes the production and distribution of good and services. D) a slowdown in the economy. b. c. Post hoc, ergo propter hoc A) increase in demand; decrease in demand Solve the Following Short-Essay Questions: Define demand. What are some of the causes of desertification? Assume that the price for lawn care has fallen and sales of lawn care services have also fallen. All of the following events would have this effect except A. income; available D. a country's population is larger than its resource base. C) there has been a downward movement along a demand curve. Que10. C. All points inside the curve. C. do have an economic problem but are solving it. Insert your responses to the following: Explain the intent of the taxation policy decisions you made of your seven-year term. Q. Bureaucratic delays C) less than 5 times as much as your grandfather in terms of real income. C) Apple computer buys computer processors from Intel. When the variable measured along the x-axis and the variable measured along the y-axis move in the same direction, it indicates a ________ relationship between the two variables. The "guns versus butter" dilemma that all nations confront is that How were consumption and investment affected . Which of the following is a macroeconomics question? D) real GDP in 2016 was greater than real GDP in the base year. A. Calculate the predetermined overhead allocation rate for each activity. Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy? D) building an online job database that helps workers find jobs. Intervention in the economy by the government bureaucrats we do not see and over whom we have no control. Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? B. Unemployment is too high. Inefficient bureaucracy. C. There is often a tradeoff between the two. B) change; underestimates A) the law of supply has been violated. C. economies of scal. A) increasing government purchases or decreasing taxes. A) horizontal. c. Labor economics Ask an Expert. D) seasonal unemployment, Structural unemployment is the result of ____________ Which of the following is a microeconomics question? C. Production managers are more concerned with satisfying government's orders than with satisfying consumer wants. ECON303exam3chp8 Flashcards by Mengna Chen | Brainscape b. A. D) more than complete, A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut. c. functional costs. C. Theme park construction. B) real GDP per person If the United States lifts the embargo on Cuban products, what will happen in the U.S. market for Cuban cigars? In a free market, production is determined by market forces. Which of the following cause the unemployment rate as measured by the Bureau of Labor Statistics to understate the true extent of joblessness? C) Producer efficiency a. A) the opportunity cost to firms from producing the equilibrium quantity in a competitive market. D) people do not find jobs instantaneously. Which of the following statements about positive economic analysis is true? Which of the following accurately compares discretionary fiscal D) simplify some aspect of economic life. Macroeconomics Multiple Choice Questions 1. If the nominal interest rate is 6% and the inflation rate is 9%, then the real interest rate is B) greater on the seller when the tax is collected from the seller. Step-by-step explanation. C) Japanese firms benefited from external economies. B. still have an economic problem. C) U.S. GDP. Choose 1 answer: Hors many smartphones should Samsung produce this quarter? Should the government attempt to influence the interest rate to lower inflation? B) a cut in unemployment compensation Why has the unemployment rate been nearly twice as high in Europe as in the United States in recent years? A. producing more of one good means less of another good can be produced. Question: Which of the following is macroeconomic issue ? - Mcqs Clouds E) too low. This means that _______ A) higher; higher You will then have 50 minutes to answer all three of the following questions. An economy is at equilibrium output when A. Y = C + I + G+ NX B. Y = AD + C + G + NX D) risen; fallen. C) the demand for lawn care service has decreased. C) decrease. D) both U.S. GNP and German GDP. C) there is a decline in the price level. C) Consumer surplus measures the net benefit from participating in a market. Buyers will bear the entire burden of a unit tax if the demand curve for a product is A. d. identify possible solutions. 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? This means ______. MULTIPLE CHOICE QUESTIONS TESTBANK - CHAPTER 3. A) welfare benefits B. All of the following are criteria frequently applied in judging economic outcomes except a. B. spending, production and saving. Quiz 1: Introduction to Macroeconomics Quiz - Quizizz b. a. a. Is not a very efficient means of communicating consumer demand to the producers of goods and services. Determine the following steps in preparing a work sheet in their proper order by writing numbers 1-5 in the blank spaces provided. D) The quantity of inkjet printers demanded decreases, Last month, the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit. A) less difficult than with monetary policy. A. there is a current account surplus. For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) post the entry using T-accounts to represent ledger accounts. FortheYearsEndedDecember31,20Y2and20Y1. A) the money supply and interest rates that automatically increase or decrease along with the business cycle. B) unattainable D) gross national product of Canada and the gross national product of the United States. C) builds another assembly plant in the United States. a. B. C) GDP deflator B) adds 1,000 new cars to inventories. This tax is sometimes referred to as d. 1. Which of the following explains why the unemployment rate could Report an issue. C) a decrease in the unemployment rate A) 2% D) legalized marijuana. B) an increase in the number of manufacturers of electric cars. 9 Questions. 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) not change GDP. 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. public economics. Ch. 1 Microeconomics Homework Flashcards | Quizlet Suppose real GDP is $12.6 trillion and potential GDP is $12.4 trillion. We can conclude, therefore, that increased ice cream sales cause an increase in burglaries." d. Ceteris paribus, Which of the following is not an opportunity cost of attending college? A technological advance would best be represented by A) Tuan purchases a cappuccino at the student union. Macroeconomics focuses on the performance of B) total income in 2015 was around $17.3 trillion. D) decrease tax rates. They are both automatically achieved in a free market economy. Maximum combinations of goods and services an economy can produce given its available resources and technology. D) on foreign soil. The study of regional economy as whole. Markets are likely to do a better job of allocating resources than government directives. B. how to make money in a market economy. B) explicit D) The minimum wage in Europe is lower than it is in the United States. Economics teaches how to limit our wants. A) during a deep recession. A production possibilities curve indicates the With respect to factors of production, which of the following statements is not true? b. Solved Which of the following is an illustration of a | Chegg.com C) 3% Government agencies. D) The "Lucky Ducky" casino buys a new crabs table for the casino floor. d. Dollar cost, T/F The process of analyzing the additional costs or benefits which arise from a decision is known as marginalism, You own the video game Grand Theft Auto V. The opportunity cost of playing this game for the second time It allows researchers to isolate the effect of one event on another without the influence of outside variables A) Starbucks purchases coffee beans. This means. B. A) the Income Security Tax. Household income D. the choices people make to attain their goals, given their scarce resources. Assume that a hypothetical economy is at long-run macroeconomic equilibrium with full employment and stable prices. C. society's output cannot be made available to all. C) lower; higher a. In a market economy, those who are willing and able to buy what is produced. Which assumptions do you need to make in order to be correct in considering a binomial distribution for your variable? D) No, the recession will have no impact on my ability to get a job or my future income. Deadweight loss refers to B) increasing taxes or decreasing government purchases. D) total welfare is greater. in the blanks. b. unit contribution margin. For below problem geometric sequence given write the next three terms. The following macroeconomic projected return models occurred. B) Japan has abundant supplies of labor. The use of market signals and government directives to select economic outcomes. B) German GDP. Step-by-step explanation. A) The demand curve for traditional camera film shifts to the right. 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. d. National output, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Alexander Holmes, Barbara Illowsky, Susan Dean. Answer: B Use the following diagram to answer questions 36-39: 36. Three Economic Questions: What, How, For Whom? | Encyclopedia.com
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