(b) 81,54,36,81,54,36, \ldots81,54,36,. He faces scarcity because his resources are unlimited Economic development B) high unemployment rates do not usually last for very long. D) total welfare is greater. 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. b. D) an increase in the price of gasoline. ___________ (movement of disabled individuals out Macroeconomics EC112 Flashcards | Quizlet C) wages are higher. C) a full-time employee at a pizza parlor who makes more than the minimum wage Dear Friends, We are posting prelims marathon MCQs for today. A technological advance would best be represented by In a market economy, who decides what goods and services will be produced? During a business cycle expansion, total production ________ and total employment ________. C) a change in consumer income. D. Higher opportunity costs induce higher output per unit of input. A decrease in input costs in the production of LCD televisions caused the price of LCD televisions to decrease. B) movement along the demand curve due to a change in relative prices. c. The alternative uses of time you spend studying What determines the salaries of Wall Street executives? D. Competition, Consider the following economic agents: PDF AP Macroeconomics 2018 Free-Response Questions - College Board O a. C. the tendency of many economic variables to move together in a predictable way over the business cycle. A) the cost of additional education is always higher during recession. A) a retired railroad engineer who receives a fixed income payment every month B) Consumer efficiency Production possibilities curve will shift outward. B) ice cream and hot fudge and substitutes. B) 3%. C. the highest valued alternative that must be given up to engage in an activity. B) increasing taxes or decreasing government purchases. All of the following are sources of comparative advantage except D) all of the above. A. Persistence is A. the tendency for declines in economic activity to be followed by further declines, and for growth in economic activity to be followed by more growth. A. answer choices. B. C) a 12-inch Subway sandwich purchased by a student (a) Economic Activities related to Unlimited Wants (b) Economic Activities related to Limited Resources (c) Both (a) and (b) (d) None of these Answer Question 4. A) the Pacific Trade Association. A lassiez faire approach will reduce the level of pollution. B. a. C. Theme park construction. Explain how these higher income taxes will affect the aggregate demand curve. A) Micah purchases a new wrench for his auto repair business. Keynesian Economics Questions and Answers - Study.com C. A movement from inside the production possibilities curve to a point on the production possibilities curve. C. maintain equilibrium in the Balance of Payments. B) The demand curve for inkjet printers shifts to the left. C) clothing Solved Which of the following is an example of a | Chegg.com B) continually risen. D) Your father buys a new John Deere riding lawn mower. D) more than complete, A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut. The decision about what goods and services will be produced in a market economy is made by D) above the market wage, causing labor demand to be less than labor supply. 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. known as ___________ Mental illness is a(n)___________ concept, typically Real domestic output is at its maximum level. D) technology. iii. O How will the government's budget deficit be affected by public infrastructure projects? D) refrigerator. Solved Which of the following is a macroeconomics question - Chegg You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. a. the government A. D) the Western Trade Union. Which of the following would be classified as fiscal policy? B) the price level in 2016 was less than the price level in the base year. Prelims Marathon - Economic Survey - March 1st - 2023. 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 ________ This change will______________ Let n=3n2n1\alpha_n=\frac{3-n}{2 n-1}n=2n13n and n=n2+2n13n22,n=1,2,\beta_n=\frac{n^2+2 n-1}{3 n^2-2}, n=1,2, \ldotsn=3n22n2+2n1,n=1,2,. To reduce the bias in the consumer price index, the Bureau of Labor Statistics The ability to exercise control over one's own resources within the confines of the law refers to The following macroeconomic projected return models =. How do you go about allocating your time in a given day among competing alternatives? C. Congress increased the minimum wage rate in January. The use of market prices and sales to signal desired output. i. A devaluation of the U.S. dollar would increase exports from the United States C) by the same amount as Macroeconomics _ECON 202_ 2022 rev (1).docx MACROECONOMICS FREE-RESPONSE QUESTIONS MACROECONOMICS Section II Total Time1 hour . C) The tax cut would increase consumption spending by the same amount as would a permanent tax cut. C. The market mechanism has failed to achieve social efficiency. Stability c. Efficiency d. Growth A Economics is best defined as the study of a. \\\hline B. B) increased income tax rates. B. Please don't take his comments (a) personal, (b) personally. Holding everything else constant, how would this affect the market for video game consoles (a complement to LCD televisions)? The production possibilities curve between tanks and automobiles will shift outward. C) frictional B) increase; less What is the probability that they all will be late? Allocative efficiency best explains ________, and productive efficiency best explains________. What is Macroeconomics? Select the phrase that correctly completes the following statement. A) no there is a current account deficit. All of the following are benefits of the single market except ? This means A) the value of worn-out equipment, machinery, and buildings. Government failure. C. Relies on the use of central planning by private firms rather than the government. Deflation occurs when ____________ Most primitive economies concentrate on producing food and shelter - the basic necessities of life. A) stayed roughly the same. How consumers make purchasing decisions c. Inflation, unemployment, and economic growth d. Final decision making A A) increases; increases D. The full employment of resources to achieve a particular combination of goods and services. d. 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. D) movement along the demand curve due to a change in purchasing power brought about by the price change. Expert Answer Option b deals with a microeconomi View the full answer Transcribed image text: Which of the following is NOT a macroeconomic 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. For his wife's birthday, he designs and creates an intricate birdseye maple jewelry box that takes him 15 hours to complete. Technological advancements have led to lower prices and an increase in the sale of color laser printers. E) Discouraged workers are counted as unemployed. c. Falls victim to "post hoc, ergo propter hoc." Because Mike started looking for a new job ______________ Opportunity cost Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. C) changes in the money supply and interest rates that are intended to achieve macroeconomic policy objectives. C) decrease; more E) raise taxes by an amount more than $200 billion. C. Market success. C) cyclical unemployment How does a market system prevent people from getting as many goods and services as they wish? C) equity D) the working-age population increased. Rearranging, we get: D) The government imposes taxes on those who earn beyond a certain amount of income. Which of the following is not a microeconomics topic? (Select all that in the blanks. A) an increase in the money supply and a decrease in interest rates C) Their value is counted separately, but is not included as part of the value of the final good for which they are an input. (C) how individual markets work. A) take away from GDP. Macroeconomics | Economics Quiz - Quizizz Th View the full answer A) a reduction in unemployment. The real rate of interest is ______________ D) lower; lower, If real GDP exceeded potential real GDP and inflation was increasing, which of the following would be an appropriate fiscal policy? All points on the curve. d. Eliminating the trade embargo with Cuba would increase the number of Cuban cigars available in the United States The level of inflation in the economy. A. d. Ceteris paribus, Which of the following is not an opportunity cost of attending college? d. B) consumption; investment A) 2% Nonetheless, you continue along your career path looking for a new job because _____________ Writing Period 50 minutes . Which of the following is a microeconomics question? The company allocates indirect costs based on the following activities: EstimatedEstimatedQuantityActivityCostAllocationBaseofAllocationBaseAdmission$60,000Numberofadmissions20,000Cleaning240,000Cleaningdirectlaborhours100,000Grooming80,000Groomingdirectlaborhours4,000Totalindirectcosts$380,000\begin{array}{lclc} Should the government put a tax on alcohol in an attempt to reduce highway fatalities? B) Delta buys a new European-made jetliner. Number of employees in the steel industry . B. C) a discouraged worker The production possibilities curve illustrates which two of the following essential principles? b. D) a decrease in oil prices, The aggregate demand curve will shift to the left ________ the initial decrease in government purchases. This would C. economies of scal. Question 01. Zero because you knew when you registered for the class that studying would be required. Mike has been unemployed for over a year. Cutting taxes _______ See Answer 14 15 Show transcribed image text Expert Answer Answer no (14). c. Marginal cost A) urniture Which of the following accurately compares discretionary fiscal meaning severe emotional or thought disturbances A) an increase in demand. 7 Principles of Macroeconomics- Chapter 1 C) increase flows (2) and (3) and reduce flows (6) and (7). answer choices. c. It considers part-timers as employed, and hence it is understated. D) The demand curve for traditional camera film shifts to the left. B) Why hasn't the federal government raised the minimum wage? C) shift of the demand curve due to a change in purchasing power brought about by the price change. If the BLS counted persons that are on active military service in the totals for employment, the labor force, or the working-age population, this would _______________ A. supply and demand. MULTIPLE CHOICE QUESTIONS TESTBANK - CHAPTER 3. Question: Which of the following is a macroeconomics question? Explain. B. A) a law making it illegal to work more than 35 hours per week A. B. Determine whether the following question is related to microeconomics or macroeconomics: "Should I go to grad school or take a job?" What are some important facts regarding macroeconomics? Which of the following is a problem inherent in centrally planned economies? Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? B. the idea that the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies. Microeconomics answers - Micro Summary exam 1 questions and answers microeconomics exam which of the following is macroeconomics question a:how much would math. Examples of comparative advantage show how trade between two countries can make each better off. A. A) the value of leisure is included in GDP. B) unattainable What factor was most responsible for the development of Japan's comparative advantage in automobiles? If the nominal interest rate is 6% and the inflation rate is 9%, then the real interest rate is Which of the following causes the unemployment rate to understate the true extent of joblessness? This month, the company supplied the same quantity of binders at $4 per unit. D) The minimum wage in Europe is lower than it is in the United States. D) the payroll tax. (c). C) $140. Assume PetSmart, Inc. expects to incur $380,000 of indirect costs this year. Answered: Which of the following questions are | bartleby D. None of these choices are correct. Report an issue. Macroeconomic Questions Flashcards | Quizlet The phrase "demand has increased" means that ___________ 2. D) an increase in the working-age population. PDF Questions and Answers - Damanhour Which of the following statements is false? B) the value of the house in 2003 A) a decrease in the money supply and an increase in the interest rate C) The quantity of traditional camera film demanded increases. Q. A) income B) discretionary fiscal policy. d. sensitivity analysis. B. D. For below problem geometric sequence given write the next three terms. C) during an expansion. Advertisement Advertisement You have majored in computer science and, because of the recession, have difficulty in finding a job. The government should reduce the tax burden to help small business. C. society's output cannot be made available to all. B. Which of the following is an example of government failure?

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