which of the following would be a macroeconomic question?sewell funeral home obituaries
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Adam Smith's invisible hand is now called c. Bill Gates faces scarcity because resources are limited You'll get a detailed solution from a subject matter expert that helps you learn core concepts. This tax is sometimes referred to as Administrativeexpenses. Totaloperatingexpenses Incomefromoperations. Otherincome.. Incomebeforeincometax.. Incometaxexpense.. Netincome. David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Intro to Microeconomics (First Exam) (Chapter, Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Marla is an architect who is designing a home for Chuck. C. How is the production quantity of snowboards determined? Which of the following is a problem inherent in centrally planned economies? D) below; shortage. Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. Inefficient bureaucracy. ________ increases economic efficiency because it forces firms to produce and sell goods and services as long as the additional benefit to consumers is greater than the additional cost of production. B) real GDP per person Cutting taxes _______ D) there is a decrease in the expected rate of inflation. A. unlimited wants exceed limited resources. B) Delta buys a new European-made jetliner. A production possibilities curve indicates the Q: Choose the statement that does not describe Microeconomics. a. Microeconomics focuses on supply and demand . D) an increase in consumers' taste for coffee. c. Will a new type of electronic reader or tablet increase the number of buyers? D) people do not find jobs instantaneously. A. C. Lassiez faire price policies. C) below; surplus In a market economy, who decides what goods and services will be produced? Directions: You are advised to spend the first 10 minutes reading all of the questions and planning your answers. a. the government D) will raise disposable income and raise spending. 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 ________ Que10. A) Many full time workers really want to be part time workers. C) frictional d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. C) continually declined. of mental institutions) and ___________ (movement C. Market success. D) efficient central planning. (Round percentages to one decimal place.). D) decreases; decreases. C) any level of the two products that the economy produces is currently possible. D) decrease the number of persons in the working-age population. Answer: Demand is defined as the desire of purchasers, consumers, clients, employers, etc., for a particular commodity, service, or other item. C) No, the recession will most likely be short-lived and I can get a job after it is over. Factors of production and price signals. Que11. c. Focuses on how a business should function A) the supply curve shifted to the left resulting in an increase in the equilibrium price. A lassiez faire approach will reduce the level of pollution. What are some of the causes of desertification? A) the law of supply has been violated. C) There will be a decrease in the quantity of labor supplied by households. The economy experiences government failure. (b) the level of aggregate demand determines production, employment,. A) the price level in 2016 was greater than the price level in the base year. A. The conclusion of this statement: C) builds another assembly plant in the United States. C. There is often a tradeoff between the two. C) interest rates; money supply B) total consumption of goods is greater. B) increase; less A) a reduction in unemployment. Which one of the following is not a key people behind macroeconomics? To Liza, 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. A. How does this affect the market for traditional inkjet printers? As more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities falls PetSmart even offers a Top Dog service that includes a premium shampoo, milk bath conditioner, scented cologne spritz, teeth brushing, and a bandana or bow. D) The federal government cuts taxes to stimulate the economy. a. D) Your father buys a new John Deere riding lawn mower. B) unemployed Which of the following is a macroeconomics question? 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. A) automatic stabilizers; discretionary fiscal policy Technological progress has made it possible for firms such as Apple and Alivecor to develop small electronic devices, including smartwatches, smartphones, and products that can be attached to the smartwatches and smartphones, to serve consumers who have become more health conscious and wish to monitor various health conditions. A) The demand curve for traditional camera film shifts to the right. B) the firm has an incentive to decrease supply now and increase supply in the future. A) taxes; interest rates C. Levels of production that will cause both unemployment and inflation. Answering these four questions is essential for an economy to function properly. B) consumption; investment C. Macroeconomic failure. Consumption of cigarettes. Macroeconomics is the branch of economics that deals with: (A) the prices of individual goods. 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) increase the measured unemployment rate. D. constant opportunity costs as more and more of one good is produced. How should we produce goods and services? D. Higher opportunity costs induce higher output per unit of input. C) a decrease in the unemployment rate A) he tax cut would increase consumption spending less than would a permanent tax cut. C) legalized prostitution. b. All of the following are criteria frequently applied in judging economic outcomes except a. D. What goods and services should we produce? D) consumer price index. A) climate and natural resources. D) the same whether the tax is collected from the buyer or the seller. The company allocates indirect costs based on the following activities: EstimatedEstimatedQuantityActivityCostAllocationBaseofAllocationBaseAdmission$60,000Numberofadmissions20,000Cleaning240,000Cleaningdirectlaborhours100,000Grooming80,000Groomingdirectlaborhours4,000Totalindirectcosts$380,000\begin{array}{lclc} The decrease in auto sales impacts GDP because new automobiles are counted as ________ when purchased by households and ________ when purchased by businesses. The production possibilities curve illustrates which two of the following essential principles? Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. Dear Friends, We are posting prelims marathon MCQs for today. Which assumptions do you need to make in order to be correct in considering a binomial distribution for your variable? D) depreciation. (a) 3,6,12,3,6,12, \ldots3,6,12, A decrease in input costs in the production of LCD televisions caused the price of LCD televisions to decrease. B. the possibility of inefficient production. B) government spending and taxes that automatically increase or decrease along with the business cycle. B) the value of all cars produced by Ford in Mexico The exports are equal to import. c. Is it sensible for a government to subsidize tobacco production? If the price level rose in three consecutive years from 100 to 120 to 140, then the annual inflation rate over those years would ________ D) No, the recession will have no impact on my ability to get a job or my future income. A) ice cream and hot fudge are complements. The production possibilities curve between tanks and automobiles will appear as a straight line. D) a demand curve has shifted to the right. D. A rightward shift of the curve. Your survey tells you that, out of 15 airlines, 80% of them are likely to be late at least once a month. C) do not change; overestimates B. Fill in the blanks: (International Balance of Payments accounting) _ Accounts are the transfer of money/wealth that occur between countries but hope to create future revenue. B) when real GDP is above but close to potential GDP. A) the value of worn-out equipment, machinery, and buildings. A shift outward of the production possibilities curve. B) Their value is counted separately, and their value is also included as part of the value of the final good for which they are an input. B. how to make money in a market economy. The ________ production points on a production possibilities frontier are the points along and inside the production possibilities frontier. What determines the salaries of Wall Street executives? B) add to GDP. Step-by-step explanation. C) ensure safe imports. Should the government put a tax on alcohol in an attempt to reduce highway fatalities? A) at prices that violate government price regulations. Because Mike started looking for a new job ______________ B) increase in demand; increase in quantity demanded Public economics answer choices. A) the free market. Government directives are likely to do a better job of allocating resources than markets. Solve the Following Short-Essay Questions: Define demand. It allows researchers to isolate the effect of one event on another without the influence of outside variables A. it allows countries to exploit their comparative advantage, more fully. A) urniture C. The money you spent on tuition for the class. Which of the following is an example of spending on factors of production in the circular flow model? Microeconomics is the study of D) no one in the economy loses. C) shift of the demand curve due to a change in purchasing power brought about by the price change. If a minimum wage of $15 per hour is imposed, which of the following will occur? Total the statement columns, compute net income (loss), and complete work sheet. b. C) Yvette pays $50 to join a softball league. given up when we make a decision is called ____ of that decision A. (C) how individual markets work. B. A) Micah purchases a new wrench for his auto repair business. E) States increase taxes to fund education. A) the Pacific Trade Association. In terms of the production possibilities curve, inefficiency is represented by c. Falls victim to "post hoc, ergo propter hoc." A. The use of market signals and government directives to select economic outcomes. Which of the following is a positive macroeconomic statement: a. A. how households and firms make choices. B) an increase in the unemployment rate B) The supply curve will shift to the right. D) the nominal interest rate. B) The Federal Reserve cuts interest rates to stimulate the economy. D) less than 5 times as much as your grandfather in terms of nominal income. b. The police were surprised the bank did not take their advice. E) Discouraged workers are counted as unemployed. C. maintain equilibrium in the Balance of Payments. B) movement along the demand curve due to a change in relative prices. The country is experiencing a serious rise in inflation which the government wants to control through fiscal policy. B) substitution A) increases; increases The use of market prices and sales to signal desired output. C) equal to the highest value of an alternative use of the time and money spent on the class. C) incorporates substitutions by consumers when prices of specific products rise rapidly. In a market economy, the people who receive the goods and services that are produced are those who A) the price of sailboats increased and the demand for sailboats decreased." Increasing the federal tax on gasoline would cause shipping costs in the United States to increase C. society's output cannot be made available to all. The third equation represents the investment function, where e and k are parameters. a) A French resident buys a Volkswagen car produced in Wolfsburg, Germany. E) raise taxes by an amount more than $200 billion. D. Increasing opportunity costs will occur with greater tank production. PetSmart, Inc. is a large specialty pet retailer of services and solutions for the needs of pets. is considered___________ to herself or others, and D. Jenny's wage rate rose, and in response, she decided to work more hours. The opportunity cost of taking an on-line history class is C) by the same amount as Which of the following is not a durable good? You will then have 50 minutes to answer all three of the following questions. 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. b. Macroeconomics A(n) ________ is represented by a rightward shift of the demand curve while a(n) ________ is represented by a movement along a given demand curve. D) The demand curve for traditional camera film shifts to the left. \hline\\ b. D. the choices people make to attain their goals, given their scarce resources. Which of the following can be used to correct market failure? Question: Which of the following is a macroeconomics question? C) The purchasing power of your salary remained constant between 2007 and 2016. D) Producer surplus measures the total benefit received by producers from participating in a market. B) Chester buys a first-class ticket from Atlanta to London for his long-awaited vacation. C. Production of nonmilitary goods will decrease. a. A) The supply of video game consoles would increase and the equilibrium price of video game consoles would decrease. B) explicit Equity D) real GDP in 2016 was greater than real GDP in the base year. C) The quantity of traditional camera film demanded increases. A. A. (D) the economy as a whole. A) an increase in demand. Prelims Marathon - Economic Survey - March 1st - 2023. D) the working-age population increased. The demand for bottled water by individuals. C) implementing an unemployment insurance policy e. None of the above. B) vertical. D. Allocative efficiency. E) the cost of tuition and fees only. The economy may be in equilibrium. B. A. central bank prints more money B. increase in household savings C. decrease in borrowing by private firms D. foreign financial investors The "guns versus butter" dilemma that all nations confront is that D) The government imposes taxes on those who earn beyond a certain amount of income. Which of the following statements is false? C) there are not enough jobs for everyone who wants one. Examples of comparative advantage show how trade between two countries can make each better off. Which of the following correctly describes the relationship between economic efficiency and economic equity? 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? C) oil prices. c. Florida should devote all revenues from its state lottery to improving public education D) legalized marijuana. A. c. Labor economics Which of the following cause the unemployment rate as measured by the Bureau of Labor Statistics to understate the true extent of joblessness? C. The allocation of resources by market forces. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. D) Excise and other taxes; individual income taxes. C. Maximum combinations of goods and services an economy can produce given unlimited resources. C. Government failure does not exist. Which of the following best defines economics? C) less than 5 times as much as your grandfather in terms of real income. A) take away from GDP. D) an increase in the labor force. Is a normative analysis D. Competition, Consider the following economic agents: All of the following are sources of comparative advantage except D) building an online job database that helps workers find jobs. If, in response to a decrease in the price of coffee, the quantity of coffee demanded increases, economists would describe this as_______ C) disposable personal income plus depreciation plus personal taxes. A) marginal . A) a retired railroad engineer who receives a fixed income payment every month C. Greater production of one good requires increasingly larger sacrifices of other goods. B. firm could more readily exploit. c. functional costs. B) the value of the decrease in business inventory stocks. Grossprofit.Sellingexpenses..Administrativeexpenses.TotaloperatingexpensesIncomefromoperations.Otherincome..Incomebeforeincometax..Incometaxexpense..Netincome.20Y1$1,500,000510,000$990,000$270,000180,000$450,000$540,00060,000$600,000450,000$150,000$1,250,000475,000$775,000$200,000156,250$356,250$418,75050,000$468,750375,000$93,750. 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. C) The tax cut would increase consumption spending by the same amount as would a permanent tax cut. C) those that hold paper money lose. Macroeconomics focuses on the performance of D. Production of nonmilitary goods will decrease. GDP is not a perfect measure of well-being because _________ \text{Admission}&\text{\$\hspace{10pt}60,000}\hspace{10pt}&\text{Number of admissions}&\text{\hspace{5pt}20,000}\\ b. A family's decision about how much income to save. B. how something will be produced; when something will be produced C) automatic stabilizers; monetary policy a. D) do not change; underestimates. C. Technology is lost. A) technological advancement in the production of electric car batteries. C. What will be the prices of goods and services; how will these goods and services beproduced; and who will receive them? A. unlimited wants exceed limited resources. 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). A) -9.5% If inflation is positive and is perfectly anticipated ____________ \text{Grooming}&\text{\underline{\hspace{15pt}80,000}}\hspace{10pt}&\text{Grooming direct labor hours}&\text{\hspace{10pt}4,000}\\ b. The term economic system refers to the way in which a society organizes the production and distribution of good and services. B) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale. A. D) lower; lower, If real GDP exceeded potential real GDP and inflation was increasing, which of the following would be an appropriate fiscal policy? B) total income in 2015 was around $17.3 trillion. A. D) both U.S. GNP and German GDP. B. A) Consumer surplus measures the difference between the highest price a consumer is willing to pay for a product and the price she actually pays. B) by more than C) The demand curve will shift to the right. The invisible hand refers to To reduce the bias in the consumer price index, the Bureau of Labor Statistics There is full employment. A production possibilities frontier with a bowed-outward shape indicates A. increasing opportunity costs as more and more of one good is produced. B) the sum of consumer and producer surplus. A) employed Bureaucratic delays President Obama has discussed raising income taxes for individuals earning over $250,000 in income. B) decrease government spending. Which of the following statements about positive economic analysis is true? Markets are likely to do a better job of allocating resources than government directives. Which of the following is an example of a "how much" decision? ________ and ________ are the largest sources of revenue collected by the federal government ii. C) an autonomous; an induced . D) increase all of the monetary flows. 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? B) continually risen. D. Markets result in an unfair distribution of income. D) a slowdown in the economy. D. marginal costs A) cyclical B. D) the plastic bags that Subway purchases to wrap its sandwiches. C) increasing the money supply and decreasing interest rates. Answer: B Use the following diagram to answer questions 36-39: 36. A) 2% B. spending, production and saving. Electric car enthusiasts want to buy more electric cars at a lower price. A. public economics. What is the probability that they all will be late? Show more. It is also the case that reported burglaries increase during the same period. Economics involves allocating resources to meet peoples' needs and desires for goods and services. Every society faces economic tradeoffs. Combinations of production that are unattainable, given current technology and resources. 1. C) opportunity C) a tank purchased by the federal government ________ is defined as a market outcome in which the marginal benefit to consumers of the last unit produced is equal to the marginal cost of production, and in which the sum of consumer surplus and producer surplus is at a maximum. b. D) lawn care services are deliberately charging low prices because they want to discourage people from maintaining their own lawns. E. consumers and firms choosing which goods and services to buy or produce. Math is a way of solving problems by using numbers and equations. D. The government is allocating resources inefficiently. B) in non-licensed shops and warehouses. You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. D) rises; Marla becomes more productive once she's married. C) the demand curve shifted to the right resulting in an increase in the equilibrium price. b. A. producing more of one good means less of another good can be produced. Why is the economy of India growing? c. The alternative uses of time you spend studying Fill in the columns for the GDP deflator and for the percent . B) portray reality in all its minute details. ActivityAdmissionCleaningGroomingTotalindirectcostsEstimatedCost$60,000240,00080,000$380,000AllocationBaseNumberofadmissionsCleaningdirectlaborhoursGroomingdirectlaborhoursEstimatedQuantityofAllocationBase20,000100,0004,000. is a corporation unresponsive to the demands of its customers? According to a deputy commissioner of police, "Commerce does very little of what we recommend. 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. d. Comparative economic systems, Determine whether the following is covered by microeconomics or macroeconomics B) a job retraining program E. consumers and producers. A) shift of the demand curve when income changes. B. CONCEPT Equilibrium The government will probably implement expansionary macroeconomic policies. C) falls; Marla's architectural design services are no longer bought by Chuck once they're married 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. B) falls; Marla's work becomes less valuable once she's married MACROECONOMICS FREE-RESPONSE QUESTIONS MACROECONOMICS Section II Total Time1 hour . Compose a sentence using the following word. A) automatic stabilizers. All of the following events would have this effect except B. Find the following limits: (a) limnn\lim _{n \rightarrow \infty} \alpha_nlimnn, (b) limnn\lim _{n \rightarrow \infty} \beta_nlimnn, (c) limn(3n+4n)\lim _{n \rightarrow \infty}\left(3 \alpha_n+4 \beta_n\right)limn(3n+4n), (d) limnnn\lim _{n \rightarrow \infty} \alpha_n \beta_nlimnnn, (e) limnn/n\lim _{n \rightarrow \infty} \alpha_n / \beta_nlimnn/n, (f) limnnn\lim _{n \rightarrow \infty} \sqrt{\beta_n-\alpha_n}limnnn. Productive efficiency a. A) The federal government passes tax cuts to encourage firms to reduce air pollution. C) consumer surplus is minimized A) The demand curve for inkjet printers shifts to the right. How does the increasing use of digital cameras affect the market for traditional camera film?
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