Changes in the aggregate price level (inflation) C. society's output cannot be made available to all. C) Corporate income taxes; excise and other taxes Factors of production and price signals. B. Undiscovered natural resources. B) below the market wage, causing labor demand to be less than labor supply. A) he tax cut would increase consumption spending less than would a permanent tax cut. B. B) high unemployment rates do not usually last for very long. Ford A) The federal government buys a Humvee. Economics involves allocating resources to meet peoples' needs and desires for goods and services. C) there is a decline in the price level. Marco's consumer surplus from the purchase is E) 9.5%. a. The conclusion of this statement: A) the money supply and interest rates that automatically increase or decrease along with the business cycle. Why has the unemployment rate been nearly twice as high in Europe as in the United States in recent years? This means B) There is much less disagreement among economists over normative economic analysis than over positive economic analysis. A. (C) how individual markets work. b. B) ice cream and hot fudge and substitutes. D. the government, consumers, and producers Both discretionary fiscal policy and monetary policy are instruments that governments employ to control the economy. B) a cut in unemployment compensation D) What determines the salaries of college professors? A) Technological change occurs at a faster rate in Europe, so structural unemployment is higher in Europe. D) the reduction in economic surplus resulting from not being in competitive equilibrium. B. producers deciding what society wants most. Solved Which of the following is a macroeconomic question? | Chegg.com Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments. C) frictional C) the business cycle. The economy's capital stock declines. The exports are equal to import. Which one of the following is a macroeconomic issue? They are both automatically achieved in a free market economy. B) the economy produces only two products. C) the sum of frictional unemployment and structural unemployment equals zero. Simple economies can be described in terms of three major economic flows. Macroeconomics _ECON 202_ 2022 rev (1).docx B) discretionary fiscal policy. C) a decrease in taxes b. Macroeconomics a. D) a demand curve has shifted to the right. 2. To Liza, B) a job retraining program A mixed economy If a minimum wage of $15 per hour is imposed, which of the following will occur? 3. The following questions relate to long-run macroeconomic The number of work visas should not be limited by the government. Bill Gates does not face scarcity because he is a billionaire A) the free market. D. Laissez faire. Which of the following is a normative economic statement? A black market is a market where buying and selling take place Concept why study macroeconomics 16 which statement He faces scarcity because his resources are unlimited C) below; surplus D. marginal costs B. The tuition you pay What Are the Four Basic Economic Questions? - Reference.com Answered: Which of the following is a | bartleby Which of the following is an example of spending on factors of production in the circular flow model? Why is the economy of India growing? Government agencies. Macroeconomics, 4e (Hubbard/O'Brien) Chapter 1 Economics: Foundations Macroeconomics MCQ: Multiple Choice Questions C. Maximum combinations of goods and services an economy can produce given unlimited resources. C) The market system allocates goods and services to those who are able to pay for those products and therefore income is a limiting factor. Which of the following is a positive economic statement? a. margin of safety. B) What determines the production of video game consoles? D) no one in the economy loses. An oligopolistic industry consists of only two firms, Angel& A. producing more of one good means less of another good can be produced. a. the government C) Every individual, no matter how rich or poor, is faced with making trade-offs. Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. B) frictional unemployment equals zero. B. Prelims Marathon - Economic Survey - February 28th - 2023. 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 C) any level of the two products that the economy produces is currently possible. c. It confuses correlation and causation D) producer surplus is minimized. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in (1). The first stage in the five-step decision process described in the text is to a. define the problem. D) there is a decrease in the expected rate of inflation. MULTIPLE CHOICE QUESTIONS TESTBANK - CHAPTER 3. d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. A. Solve the Following Short-Essay Questions: Define demand. C) How does Fiat decide on the price of the 500 Pop model? It considers discouraged workers, and hence it is overstated. Equity B) The purchasing power of your salary fell between 2007 and 2016. B) an increase in quantity demanded. ' Insert your responses to the following: Explain Laws and regulations. A) he lettuce that Subway purchases for its sandwiches B) there has been an upward movement along a demand curve. C) downward sloping. d. Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? E. pure profit. B) by more than Question: Question 21 Which of the following exemplifies a macroeconomic question? D) do not change; underestimates. b. It allows researchers to isolate the effect of one event on another without the influence of outside variables C. Relies on the use of central planning by private firms rather than the government. C. Inefficient incentives. B) The Federal Reserve cuts interest rates to stimulate the economy. D. Increasing opportunity costs will occur with greater tank production. Reading Period 10 minutes . Q: Choose the statement that does not describe Microeconomics. Macroeconomics | Economics Quiz - Quizizz C. For whom should goods and services be produced? D) the value of all cars produced by Nissan in Japan and the United States. B) productive efficiency B) increase the measured labor force participation rate. A. Is zero In the United States in 2013, the Bureau of Economic Analysis began counting spending by firms and individuals on developing entertainment products as investment. Compared to their pre-trade positions, trade makes both countries better off because in each country C. Lassiez faire price policies. Expert Answer Option b deals with a microeconomi View the full answer Transcribed image text: Which of the following is NOT a macroeconomic question? B. D) the legally determined maximum price that sellers may charge for a given quantity of a product. b. The impact of crowding out may be the least _____________ C) No, the recession will most likely be short-lived and I can get a job after it is over. B) government spending and taxes that automatically increase or decrease along with the business cycle. The purchasing. Technological advancements have led to lower prices and an increase in the sale of color laser printers. A shortage of maths teachers. In a market economy, those who are willing and able to buy what is produced. An increase in ____________ TEST 1 6 March 2019, answers - MULTIPLE CHOICE QUESTIONS - StuDocu b. Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. The doctrine of lassiez faire is based on the belief that b. select the best possible solution. D. What goods and services should we produce? 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 A. A) will lower disposable income and lower spending. B. C) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States. This month, the company supplied the same quantity of binders at $4 per unit. Would a projects NPV for a typical firm be higher or lower if the firm used accelerated rather than straight-line depreciation? a. 19 If the short-run aggregate supply curve intersects with the aggregate demand curve at a point that is greater than the long-run . Question 12. a. D) total welfare is greater. Compose a sentence using the following word. B) total income in 2015 was around $17.3 trillion. B) increased income tax rates. A ________ can change over time or across observations. (b) the level of aggregate demand determines production, employment,. A: Economics is the study of production, distribution, and consumption when the resources are scarce in. Which of the following statements uses the concept of equity to argue against the legalization of casino gambling? B. microeconomics. A) decrease the required reserve ratio. C. choices; scarce A. do not have an economic problem. A) The federal government passes tax cuts to encourage firms to reduce air pollution. c. Industrial organization Prelims Marathon - Economic Survey - February 28th - 2023 A sharp rise in the price of vegetables. D. macroeconomics. The decrease in auto sales impacts GDP because new automobiles are counted as ________ when purchased by households and ________ when purchased by businesses. C) falls; Marla's architectural design services are no longer bought by Chuck once they're married A) automatic stabilizers; discretionary fiscal policy D) the demand curve shifted to the left resulting in a decrease in the equilibrium price. 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 B) teachers' salaries paid by a local government A) less difficult than with monetary policy. Total the statement columns, compute net income (loss), and complete work sheet. In cities with rent control, people have an incentive to list their apartments on sites such as Airbnb at rents ________ the controlled rates, because rent control causes a ________ of apartments. [Solved] The following table contains nominal and - SolutionInn Lower disposable income decreases consumption at every price level. Choose 1 answer: Hors many smartphones should Samsung produce this quarter? C) a full-time employee at a pizza parlor who makes more than the minimum wage C) entrepreneurship. B) continually risen. 1. D) The quantity of inkjet printers demanded decreases, Last month, the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit. Which of the following is a government expenditure, but is not a government purchase? The economy has gone into a recession. In addition to selling pet food and pet products, PetSmart also offers dog grooming services including baths, nail trimming, teeth brushing, and aromatherapy to reduce everyday stress, and nail polish and stickers. A pair of shoes that costs $80 last month costs $100 this month. C) decrease. A) 2% All of the following events would have this effect except Preparation and presentation of Budget for state governments under President's Rule 3. Que10. (a) Unlimited Wants Need the goods and services the most. A) U.S. GNP. \text{Total indirect costs}&\text{\underline{\underline{\$\hspace{5pt}380,000}}}\hspace{10pt}\\ Equity A. negative because it may improve your grade. A) a decrease in supply. D. A movement from the production possibilities curve to a point inside the production possibilities curve. D) the unemployment rate consists of only frictional and structural unemployment. B. how something will be produced; when something will be produced B) automobile MACROECONOMICS FREE-RESPONSE QUESTIONS MACROECONOMICS Section II Total Time1 hour . Answer-Consider the following Statements. (i) As part of AtmaNirbhar B) more than 5 times as much as your grandfather in terms of real income. C. Should the government prevent the merger of two large firms? Cutting taxes _______ PDF Questions and Answers - Damanhour A) U.S. GDP. D) lawn care services are deliberately charging low prices because they want to discourage people from maintaining their own lawns. Marla is an architect who is designing a home for Chuck. Market failure. The Federal Aviation Administration is considering increasing the number of takeoff and landing slots available at Ronal Reagan Washington National Airport A. Which of the following would be included in the gross domestic product for 2016? meaning severe emotional or thought disturbances D) an increase in the labor force. A) income A) the price of sailboats increased and the demand for sailboats decreased." Insert your responses to the following: Explain the intent of the taxation policy decisions you made of your seven-year term. C) an increase in taxes D. The person who has the responsibility to coordinate all the markets in a market economy. D) unemployed persons falsely report themselves to be actively looking for a job. The importance of the ceteris paribus assumption when using models is that: B. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. 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. C) during an expansion. B. A) a reduction in unemployment. B. Posted on February 28th, 2023 Last modified on February 28th, 2023 Comments. A) increase in demand; decrease in demand Despite the Obama administration's support of the Trans-Pacific Partnership (TPP), the AFL-CIO labor union has argued that the TPP will not Key Takeaways. D) ice cream is a normal good and hot fudge is an inferior good. Depreciation is _________ E) too low. A) 5 times as much as your grandfather in terms of real income. Question: Which of the following is macroeconomic issue ? - Mcqs Clouds Quiz 1: Introduction to Macroeconomics Quiz - Quizizz The higher price caused the supply of sailboats to increase.". A. C) the ACIF. C) builds another assembly plant in the United States. A. how households and firms make choices. A) above; surplus 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. What were the macroeconomic principles or models that influenced your decision making?] A) GDP rises by $1,875. What goods and services to producehow will these goods and services be produced; and who receives them? A) the money supply and a decrease in interest rates. Exercise 01 - bi tp eco - Question 1 (3 points): Given the following C. An increase in national defense is possible only if we produce more butter. A) increase. B) far less difficult than with monetary policy. The difference between microeconomics and macroeconomics is that microeconomics analyzes the decisions made by _________, while macroeconomics deals primarily with _____________. The nominal GDP of the U.S. in 2015 was approximately $17.3 trillion. To learn a way of thinking A. A) the cost of additional education is always higher during recession. &\textbf{Estimated}\hspace{10pt}&&\textbf{Estimated Quantity}\\ A) the Income Security Tax. How do you go about weighing the alternatives? B. As more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities falls A. producing more of one good means less of another good can be produced. c. The alternative uses of time you spend studying The government should reduce the tax burden to help small business. C. The process by which the production possibilities curve shifts inward. A) urniture C) a decrease in the price of lithium, which is used in the electric car batteries. A) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions. B. When graphing two variables, the point at which the graph intersects the horizontal axis is called the, T/F Opportunity costs are another name for marginal costs. 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. A) fallen; fallen Rational cost ECON303exam3chp8 Flashcards by Mengna Chen | Brainscape Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. Which of the following is not a factor of production? 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? D) The demand curve for traditional camera film shifts to the left. Select the phrase that correctly completes the following statement.
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