D) decrease; less. The Industrial Revolution refers to the rise of the modern factory system in ________ during the late eighteenth and early nineteenth centuries. B What is the optimal number of workers for an ice cream . D) 15%. Ask an Expert. 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 _______________ d. Eliminating the trade embargo with Cuba would increase the number of Cuban cigars available in the United States C) risen; risen Productive efficiency 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. B) taxes; the money supply B) Canada's GDP. c. Focuses on how a business should function B. still have an economic problem. In terms of the production possibilities curve, inefficiency is represented by The Bureau of Labor Statistics would categorize a person as ________ if they were temporarily away from their job because they were ill D. A movement from the production possibilities curve to a point inside the production possibilities curve. A) there is a sustained increase in the price level. C) No, the recession will most likely be short-lived and I can get a job after it is over. When lumber from Brazilian forests is used by a U.S.-owned company to produce furniture in Canada, the value of the furniture produced will be counted as a final good in C. The process by which the production possibilities curve shifts inward. A) a decrease in the money supply and an increase in the interest rate 1 #7. A) Many full time workers really want to be part time workers. D. People begin to retire at earlier ages. B. C) there has been a downward movement along a demand curve. He is willing to pay $200 for the dozen fish, but buys them for a total of $140. In 2015, the U.S. auto industry experienced rising sales. C) implementing an unemployment insurance policy It is an example of the coincidental fallacy 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 As more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities falls Voluntary exchange Government directives are likely to do a better job of allocating resources than markets. The correct answer is C. Explanation: Macroeconomics tries to know and measure an economy goes, how well it is performing. C) The quantity of traditional camera film demanded increases. B. C) 3% By definition, economics is the study of Choices made by people faced with scarcity b. D) the value of the services of the real estate agent, Which of the following goods is directly counted in GDP? D-Positive D) What determines the salaries of college professors? By how much and in what direction does GDP change as a result of his efforts? A. C) clothing C. Lassiez faire price policies. D. Price regulation by government. B) 2.5% c. Is it sensible for a government to subsidize tobacco production? 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. The overall price level in the economy A city's decision to limit smoking in public areas is an example of D) implicit. If the nominal rate of interest is 6.5% and the inflation rate is 3.0%, what is the real rate of interest? B) the price level in 2016 was less than the price level in the base year. Which field of economics deals primarily with the problems faced by low-income countries? C) complete C) What factors determine the price of Oreo cookies? A) cyclical Should Congress and the president take action to reduce global warming? A shift inward of the production possibilities curve. D) the payroll tax. b. Question: Which of the following is a macroeconomics question? Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? a. B) The quantity of traditional camera film demanded decreases. Question: Which of the following is an example of a macroeconomic question? A) above; surplus C. A surplus of . B. how something will be produced; when something will be produced The production possibilities curve illustrates which two of the following essential principles? You'll get a detailed solution from a subject matter expert that helps you learn core concepts. C) $140. Given the following data, what is money creating potential in this C. An increase in national defense is possible only if we produce more butter. A) The federal government buys a Humvee. D) ice cream is a normal good and hot fudge is an inferior good. C. Maximum combinations of goods and services an economy can produce given unlimited resources. C) a full-time employee at a pizza parlor who makes more than the minimum wage A) the value of all cars produced by General Motors in the United States The difference between microeconomics and macroeconomics is that microeconomics analyzes the decisions made by _________, while macroeconomics deals primarily with _____________. A) gross domestic product of Canada. b. D) GDP falls by $1,875. C) an increase in the quantity supplied. D) The minimum wage in Europe is lower than it is in the United States. A) inflation Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. Which of the following is a microeconomics question? A) at prices that violate government price regulations. D) upward sloping. Macroeconomics, 4e (Hubbard/O'Brien) Chapter 1 Economics: Foundations ii. A) Governments interfere with the market mechanism to influence the allocation of goods and services. Is a normative analysis ; D. what will be produced; how something will be produced. If the economy is falling below potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? Assume the punctuality random variable follows a binomial distribution. C. Maximum combinations of goods and services an economy can produce given unlimited resources. A) Micah purchases a new wrench for his auto repair business. C) lower; higher D) the working-age population increased. C) frictional Start. The three fundamental questions that any economy must address are C) the price of sailboats increased and the quantity of sailboats demanded decreased." C. Macroeconomic failure. Your survey tells you that, out of 15 airlines, 80% of them are likely to be late at least once a month. D) will raise disposable income and raise spending. Macroeconomics MCQ: Multiple Choice Questions Electric car enthusiasts want to buy more electric cars at a lower price. C) automatic stabilizers; monetary policy C. Congress increased the minimum wage rate in January. A. negative because it may improve your grade. A. A. A) Individual income taxes; corporate income taxes Answered: Which of the following questions are | bartleby If a firm expects that the price of its product will be lower in the future than it is today 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. C) decrease the number of persons in the labor force. Choose 1 answer: Hors many smartphones should Samsung produce this quarter? Each point on a demand curve shows Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. a) A French resident buys a Volkswagen car produced in Wolfsburg, Germany. C) a decrease in the unemployment rate C) Yvette pays $50 to join a softball league. (d). A) inflation. A. supply and demand. E. consumers and producers. The price of steel declined by 3% last year. B) the labor force participation rate decreased. B) Individual income taxes; social insurance taxes B) explicit Which of the following is not a function of money? Group of C) increased income tax rates. 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. Full employment is not considered to be zero unemployment, because A shortage of maths teachers. A) GDP rises by $1,875. Which of the following best defines economics? d. Comparative economic systems, Determine whether the following is covered by microeconomics or macroeconomics C) a tank purchased by the federal government Answer the following questions by selecting the appropriate answer from the list below. A) marginal Rational cost A) labor, capital, land and natural resources are fixed in quantity. Is not a very efficient means of communicating consumer demand to the producers of goods and services. A) increase the measured unemployment rate. the person is unable to care for himself or herself, also Solved Which of the following is a macroeconomic question? | Chegg.com B. producers deciding what society wants most. A) There will be an increase in unemployment. b. C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. Exercise 01 - bi tp eco - Question 1 (3 points): Given the following B) in non-licensed shops and warehouses. Combinations of goods and services an economy is actually producing. How many airlines will be late in one month? C. Optimal marginalism Marco's consumer surplus from the purchase is Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? A. D) The quantity of inkjet printers demanded decreases, Last month, the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit. ___________ (movement of disabled individuals out A) the unemployment rate increased. The aggregate demand and aggregate supply curve intersect. A) higher; higher FortheYearsEndedDecember31,20Y2and20Y1. A) There was deflation between 2007 and 2016. C. do have an economic problem but are solving it. C) 6.67%. In a free market, production is determined by market forces. A: Economics is the study of production, distribution, and consumption when the resources are scarce in. If inflation over the year is 2%, what is the real interest rate you are paying? C) falls; Marla's architectural design services are no longer bought by Chuck once they're married The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. This problem has been solved! B) the economy produces only two products. B) 3%. All of the following events would have this effect except Marla is an architect who is designing a home for Chuck. Which of the following is a microeconomic question? a. What are the C) the demand curve shifted to the right resulting in an increase in the equilibrium price. The term economic system refers to the way in which a society organizes the production and distribution of good and services. B) the nominal interest rate minus the inflation rate. c. Labor economics A) the price level in 2016 was greater than the price level in the base year. Macroeconomics Problems | Interest Rate Inflation & Unemployment - EDUCBA Please don't take his comments (a) personal, (b) personally. D. the choices people make to attain their goals, given their scarce resources. A: Macroeconomics is that branch of economics in which we study the economic problem and issues at a. D) an increase in oil prices. C) more difficult than with monetary policy. What is the current national rate of unemployment? B) greater on the seller when the tax is collected from the seller. Multiple Choice Quiz - Oxford University Press Assume PetSmart, Inc. expects to incur $380,000 of indirect costs this year. Low Income Senior Housing Jacksonville, Florida, Old Howard Johnson Locations, How To Cancel Tunnel To Towers Donation, Articles W
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