A) When will the government better secure the borders? B. the global economy. How does this affect the market for traditional inkjet printers? D) They are included only if they are imported, Which of the following are not considered part of government purchases? What were the macroeconomic principles or models that influenced your decision making?] C) equal to the highest value of an alternative use of the time and money spent on the class. A. A) updates the market basket every two years, rather than every 10 years. B. d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. 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 E) the cost of tuition and fees only. 60 seconds. C) the value of all cars produced by Toyota in the United States Which of the following is included in both the U.S. GDP and U.S. GNP? Why is the economy of India growing? Is the cerebellum responsible for facilitating declarative memories of emotionally stressful events? B) the sum of consumer and producer surplus. D) What determines the salaries of college professors? D) implicit. C) Apple computer buys computer processors from Intel. C. An increase in national defense is possible only if we produce more butter. a. margin of safety. B. C) downward sloping. b. Answer: Demand is defined as the desire of purchasers, consumers, clients, employers, etc., for a particular commodity, service, or other item. A) at prices that violate government price regulations. A) lower government purchases by an amount less than $200 billion. E. consumers and producers. B. The invisible hand at work. Which of the following is the best example of land? A. The increase in the amount that the government collects in taxes when the economy expands and the decrease in the amount that the government collects in taxes when the economy goes into a recession is an example of A. achieve full employment. 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,. When Chuck and Marla get married, Marla continues to work on designing the home, but she no longer charges Chuck for her work. D) automatic monetary policy, Since the Social Security system began in 1935, the number of workers per retiree has __________ that negatively affect an individuals health and safety, A. unlimited wants exceed limited resources. B) above; shortage B) the supply curve shifted to the left resulting in a decrease in the equilibrium price. The Government will decrease spending by $20 million and increase taxes by $15 million. A: Macroeconomics is that branch of economics in which we study the economic problem and issues at a. A sharp rise in the price of vegetables. Microeconomics answers - Micro Summary exam 1 questions and answers microeconomics exam which of the following is macroeconomics question a:how much would math. D. Increasing opportunity costs will occur with greater tank production. Calculate the predetermined overhead allocation rate for each activity. B) remain the same. This month, the company supplied the same quantity of binders at $4 per unit. Macroeconomics, as opposed to microeconomics, includes the study of what determines the ____________ 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. C) those that hold paper money lose. A. A. do not have an economic problem. The real rate of interest is ______________ a. Is way of analyzing decision-making processes caused by scarcity d. Public economics. The government should reduce the tax burden to help small business. D. People should not buy imported fruits and vegetables. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. What goods and services to producehow will these goods and services be produced; and who receives them? E) Discouraged workers are counted as unemployed. a. A. producing more of one good means less of another good can be produced. Choose the correct option. B) an expansionary; a contractionary C) 6.67%. A) decreased government regulations on businesses. Every society faces economic tradeoffs. Economic growth. C. The government should subsidize solar power for homeowners. You earn $35,000/year in your first job in 2016. A. C) entrepreneurship. A. B. B) made over-the-counter drugs illegal. Preparation and presentation of Union Budget 2. 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. b. C) clothing D. Competition, Consider the following economic agents: B-Postive What goods and services to produce; how will these goods and services be produced; and who receives them? A city's decision to limit smoking in public areas is an example of B) updates the market basket every 10 years, rather than every two years. B. A tax is imposed on employers and workers that are used to fund Social Security and Medicare. Select the phrase that correctly completes the following statement. The Bureau of Economic Analysis calculates a number of different measures of inflation: the GDP Deflator, the Consumer Price Index, the Wholesale Price Index, etc. It allows researchers to isolate the effect of one event on another without the influence of outside variables Which of the following is an example of a "how much" decision? D. Is one that allows trade with other countries. C) lower; higher Should we have economic growth? D) simplify some aspect of economic life. A) the firm has an incentive to increase supply now and decrease supply in the future. Which of the following is a positive economic statement? C) discretionary monetary policy. D) Your father buys a new John Deere riding lawn mower. A) the money supply and interest rates that automatically increase or decrease along with the business cycle. C) A state government cuts taxes to help the economy of the state. C) continually declined. D. constant opportunity costs as more and more of one good is produced. In 2015, the U.S. auto industry experienced rising sales. In the first six months of 2003, branches of Commerce Bank in New York City were robbed 14 times. Macroeconomics is focused on the movement and trends in the economy as a whole. B) one's property rights. C) do not change; overestimates A graph that contains two variables with a negative relationship is _________, while a graph that contains two variables with a positive relationship is _________. A) the value of worn-out equipment, machinery, and buildings. One can conclude that B. b. D) technology. C) the firm has an incentive to increase quantity supplied now and decrease quantity supplied in the future. D. the choices people make to attain their goals, given their scarce resources. D) out of the labor force. answer choices. c. The price of gasoline is considered___________ to herself or others, and D) 15%. B) a job retraining program c. Is one-half cost of the game, as this is the second time you have played it c. The overall price level in the economy A. producing more of one good means less of another good can be produced. D) decreasing the money supply and increasing interest rates. The income effect of a price change results in a _________ C. Market success. Economics is concerned with prices and quantities of goods and services, both at the individual. B) protect the environment. 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 ________ A) the nominal interest rate plus the inflation rate. Macroeconomics focuses on the performance of It is the field of economics that studies the behavior of the entire economy. C. decreasing opportunity costs as more and more of one good is produced. C) risen; risen D) The demand curve for traditional camera film shifts to the left. C. Relies on the use of central planning by private firms rather than the government. B. C) No, the recession will most likely be short-lived and I can get a job after it is over. The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. B) There is much less disagreement among economists over normative economic analysis than over positive economic analysis. 19 If the short-run aggregate supply curve intersects with the aggregate demand curve at a point that is greater than the long-run . All of the following are sources of comparative advantage except A) during a deep recession. 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. A) stayed roughly the same. 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. D) do not change; underestimates. D) GDP falls by $1,875. PetSmart, Inc. is a large specialty pet retailer of services and solutions for the needs of pets. b. C) after regular office hours. c. degree of operating leverage. Poorly timed discretionary policy can do more harm than good. A) The demand curve for traditional camera film shifts to the right. C. There is often a tradeoff between the two. Unemployment is too high. D. give more money to the government to solve its problems. Deadweight loss refers to The police were surprised the bank did not take their advice. Dear Friends, We are posting prelims marathon MCQs for today. A) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions. a. The nominal GDP of the U.S. in 2015 was approximately $17.3 trillion. D. Higher opportunity costs induce higher output per unit of input. Math is a way of solving problems by using numbers and equations. Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. b. C. Maintaining a strong level of economic growth. On which base structure of economic problems has been installed? Which of the following is an example of spending on goods and services in the circular flow model? C. What will be the prices of goods and services; how will these goods and services beproduced; and who will receive them? C. Should the government prevent the merger of two large firms? B) real GDP per person Laws and regulations. D) a demand curve has shifted to the right. D) GNP plus depreciation. Is very narrow endeavor Despite the Obama administration's support of the Trans-Pacific Partnership (TPP), the AFL-CIO labor union has argued that the TPP will not d. Is concerned with proving that capitalism is better than socialism, An efficient market is a market which B) higher; lower A)Government must maintain the current level of defense spending to keep the nation safe B)The minimum wage should be increased to give people a decent wage C)Americans should buy American products in order to boost the national economy What determines the salaries of Wall Street executives? b. D) above the market wage, causing labor demand to be less than labor supply. B) more than 5 times as much as your grandfather in terms of real income. Depreciation is _________ A) a demand curve has shifted to the left. E) raise taxes by an amount more than $200 billion. C) gross domestic product of the United States. C. maintain equilibrium in the Balance of Payments. Bureaucratic delays B) by more than C) a decrease in the price of lithium, which is used in the electric car batteries. Posted on March 1st, 2023 Last modified on March 1st, 2023 Comments. A) Tuan purchases a cappuccino at the student union. D) the working-age population increased. D) more than complete, A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut. If the CPI rose from 82 to 202 between 2007 and 2016, which of the following is true? B. B) What determines the production of video game consoles? Ask an Expert. The market mechanism. D. Al of the choices are correct. B) far less difficult than with monetary policy. D. There is no conflict between the two goals. A) shift of the demand curve when income changes. B) The supply curve will shift to the right. B. B. Most primitive economies concentrate on producing food and shelter - the basic necessities of life. D) Producer surplus measures the total benefit received by producers from participating in a market. A) the price level in 2016 was greater than the price level in the base year. iii. Which of the following is a normative economic statement? C) The purchasing power of your salary remained constant between 2007 and 2016. They are both automatically achieved in a free market economy. C) Brazil's GDP. Works through central planning by government. B. a nation's poverty level increases faster than its population. ; D. what will be produced; how something will be produced. A. He hasn't looked for a job in the last three months, but he's just started looking for work again. The tax cut would lower the price level in 2014. D) changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives. The four basic economic questions are: what goods to produce, how to use resources in the production process, who receives the finished goods and when to produce the goods. B. C. A movement from inside the production possibilities curve to a point on the production possibilities curve. This situation will most likely coincide with high unemployment. CONCEPT Equilibrium The government will probably implement expansionary macroeconomic policies. D) incorporates substitutions by consumers when prices of specific products fall rapidly. This change will______________ B) frictional unemployment equals zero. A) taxes; interest rates D) building an online job database that helps workers find jobs. C) total spending in 2015 was around $17.3 trillion. B) The quantity of traditional camera film demanded decreases. A) employed Which of the following best defines economics? C) a discouraged worker Micro Economic 100% (3) 6. A) the law of supply has been violated. Writing Period 50 minutes . 1. D. There is too much production of lowcost, highquality goods and services. C. do have an economic problem but are solving it. B) increase in demand; increase in quantity demanded What kind of unemployment is Sarah experiencing? If market signals result in pollution beyond the optimal level, then Deflation occurs when ____________