Which of the following is an example of a "how much" decision? A) an increase in the money supply and a decrease in interest rates B) those that lend money lose. A. C) lower; higher b. A) a decrease in the money supply and an increase in the interest rate C) consumer surplus is minimized In a market economy, who decides what goods and services will be produced? A. This means. Second, they are generally less able than are the better off to protect the real value of their incomes and assets from inflation. Chuck is paying Marla $150 per hour to design his new home. A) greater on the buyer when the tax is collected from the buyer. Which of the following is an example of spending on factors of production in the circular flow model? A) the free market. What were the macroeconomic principles or models that influenced your decision making?] C. Eliminates market failures by government. B. the idea that the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies. He faces scarcity because his resources are unlimited A) Micah purchases a new wrench for his auto repair business. B) greater on the seller when the tax is collected from the seller. C. The process by which the production possibilities curve shifts inward. D) a demand curve has shifted to the right. Deflation occurs when ____________ A) automatic stabilizers. B. The minimum wage law causes unemployment. The doctrine of lassiez faire is based on the belief that A) a demand curve has shifted to the left. Which of the following statements is false? C) incorporates substitutions by consumers when prices of specific products rise rapidly. D. workers deciding to produce only what the boss says must be produced. A) Governments interfere with the market mechanism to influence the allocation of goods and services. C) decrease; more By definition, economics is the study of i. Economic growth. B. A. how households and firms make choices. b. A. d. Ceteris paribus, Which of the following is not an opportunity cost of attending college? B) discouraged workers He is willing to pay $200 for the dozen fish, but buys them for a total of $140. Question: Which of the following is an example of a macroeconomic question? C) equity 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. D) a slowdown in the economy. C) builds another assembly plant in the United States. C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. B) Laurence rents a car to drive to a wedding in San Diego. B. Is the cerebellum responsible for facilitating declarative memories of emotionally stressful events? A) create jobs. C) decrease the number of persons in the labor force. C) real GDP in 2016 was less than real GDP in the base year. How should we produce goods and services? Should the government put a tax on alcohol in an attempt to reduce highway fatalities? A) technological advancement in the production of electric car batteries. B) an expansionary; a contractionary The study of national economy as whole. 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. Which of the following would increase the unemployment rate? Households and firms; the economy as a whole, T/F Resources are limited in both wealthy and poor societies, All of the following are criteria frequently applied in judging economic outcomes except, Economics is best defined as the study of, The most common method for graphing the relationship between two variables is by drawing two __________ lines, where the __________ is a horizontal line and the __________ is a vertical line. C. A centrally planned economy Explain how these higher income taxes will affect the aggregate demand curve. Economists reason that the optimal decision is to continue any activity up to the point where the. C) a discouraged worker Factors of production and price signals. D. Price regulation by government. C) Japanese firms benefited from external economies. What are some of the causes of desertification? Which of the following explains why the unemployment rate could be misleading? Choose the correct option. A) less difficult than with monetary policy. An oligopolistic industry consists of only two firms, Angel& Which of the following is/are functions of Department of Economic Affairs under Ministry of Finance? A) an increase in demand. MACROECONOMICS FREE-RESPONSE QUESTIONS MACROECONOMICS Section II Total Time1 hour . Macroeconomics is focused on the movement and trends in the economy as a whole. A) an increase in the number of people in the labor force The market mechanism. Suppose in 2016, you purchase a house built in 2003. All of the following are criteria frequently applied in judging economic outcomes except a. C) raise taxes by $200 billion. B) portray reality in all its minute details. D. All of the choices are correct. b. consumers there is a current account deficit. Which of the following would be the best measure of the cost of living? B) the economy produces only two products. 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. A) average price levels of goods and services in the economy. D. Is one that allows trade with other countries. An undesirable combination of goods and services. C. how to make money in the stock market. The market mechanism at work. The marginal propensity to consume (MPC . What are the differences and similarities between behaviorism, psychodynamic, and humanistic perspectives? Que11. Expansionary fiscal policy involves C) an increase in unemployment insurance payments If the ________ cost of production for two goods is different between two countries then mutually beneficial trade is possible. C) the unemployment rate decreased. Getting the timing right with fiscal policy is generally _______________ Solve homework. It is the field of economics that studies the behavior of the entire economy. Equity C. maintain equilibrium in the Balance of Payments. D. Jenny's wage rate rose, and in response, she decided to work more hours. a. b. Which of the following is a problem inherent in centrally planned economies? Which of the following is a macroeconomics question? D. None of these choices are correct. D) technology. c. The overall price level in the economy Is way of analyzing decision-making processes caused by scarcity d. To learn how to make lots of money, Explain whether each of the following is an example of a macro or micro concern Scarce resources and opportunity cost. B) the firm has an incentive to decrease supply now and increase supply in the future. C) an increase in taxes A) The supply curve will shift to the left. 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. Which of the following best describes an assumption economists make about human behavior? C) the loss of economic surplus when the marginal benefit equals the marginal cost of the last unit produced. They always call for opposite outcomes. These firms are reacting to which of the three key economic ideas? C. Production of nonmilitary goods will decrease. Marla is an architect who is designing a home for Chuck. there is a capital account surplus. A pair of shoes that costs $80 last month costs $100 this month. Which of the following is not a durable good? The income effect of a price change results in a _________ B) a competitive equilibrium is achieved In the first six months of 2003, branches of Commerce Bank in New York City were robbed 14 times. B) GDP minus depreciation. B) price charged for laptop computers by Dell. 2. D. Increasing opportunity costs will occur with greater tank production. C) a change in the amounts of one good desired. Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. A) the nominal interest rate plus the inflation rate. The unemployment rate for the United States rose to 5 percent in the last quarter. 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. D) a decrease in oil prices, The aggregate demand curve will shift to the left ________ the initial decrease in government purchases. B) $60. Discretionary fiscal policy refers to the government's ability to spend money. The equilibrium wage in a local labor market is $10 per hour. Each point on a demand curve shows c. Is it sensible for a government to subsidize tobacco production? B. the possibility of inefficient production. B) increasing taxes or decreasing government purchases. The higher price caused the supply of sailboats to increase.". B) frictional unemployment equals zero. a. D) The minimum wage in Europe is lower than it is in the United States. b. How can a firm maximize profits, given the state of the economy? . Which of the following is a positive macroeconomic statement: a. Which of the following causes the unemployment rate to understate the true extent of joblessness? B) Japan has abundant supplies of labor. B. not everyone can have enough goods to survive. It converts normative analysis into positive D) discretionary fiscal policy; conscious fiscal policy. D) Producer surplus measures the total benefit received by producers from participating in a market. Macroeconomics Basics. b. A) higher; higher D) The purchasing power of your salary increased between 2007 and 2016. C) decrease. Which of the following is not a macroeconomic statement? D) decreasing the money supply and increasing interest rates. C) Apple computer buys computer processors from Intel. D) the value of all cars produced by Nissan in Japan and the United States. C) Producer efficiency CONCEPT Equilibrium The government will probably implement expansionary macroeconomic policies. C) equal to the highest value of an alternative use of the time and money spent on the class. Real domestic output is at its maximum level. B. the global economy. A. how households and firms make choices. B) total consumption of goods is greater.
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which of the following would be a macroeconomic question?