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,. It does not consider discouraged workers, and hence it is understated. D) decrease the number of persons in the working-age population. e. None of the above. O How will the government's budget deficit be affected by public infrastructure projects? B) a decrease in government purchases that negatively affect an individuals health and safety, Choose 1 answer: Hors many smartphones should Samsung produce this quarter? D) below; shortage. A. A. C. Lassiez faire price policies. Question: Which of the following is an example of a macroeconomic question? B) the consumer surplus received from purchasing a given quantity of a product. Solved Which of the following is an example of a | Chegg.com A) create jobs. E-Normative, One of the scarce resources that constrain our behavior is time. C) do not change; overestimates A) deadweight loss is maximized d. identify possible solutions. An increase in national defense implies more sacrifices of civilian goods and services. D) legalized marijuana. 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. C) the price of sailboats increased and the quantity of sailboats demanded decreased." A) $5. C) the ACIF. B) made over-the-counter drugs illegal. The economy experiences government failure. The substitution bias in the consumer price index refers to the idea that consumers ________ the quantity of products they buy in response to price, and the CPI does not reflect this and ________ the cost of the market basket C) goods and services. Have the most political power. A) increase; more C. economies of scal. given up when we make a decision is called ____ of that decision B) automobile In a free market, production is determined by market forces. B) decrease government spending. C) any level of the two products that the economy produces is currently possible. B-Postive Step-by-step explanation. B. a nation's poverty level increases faster than its population. A) an increase in the number of people in the labor force C) legalized prostitution. B) far less difficult than with monetary policy. B. C) oil prices. If a firm expects that the price of its product will be lower in the future than it is today B) the nominal interest rate minus the inflation rate. C) decreases; increases What is Macroeconomics? A) marginal Economics involves allocating resources to meet peoples' needs and desires for goods and services. How do you go about allocating your time in a given day among competing alternatives? Production possibilities curve will shift inward. B) a union contractor whose pay is adjusted based on changes in the CPI Answering these four questions is essential for an economy to function properly. 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. c. Will a new type of electronic reader or tablet increase the number of buyers? A) the value of leisure is included in GDP. Solve homework. D) depreciation. B. Both discretionary fiscal policy and monetary policy are instruments that governments employ to control the economy. The minimum wage law causes unemployment. B) the value of the decrease in business inventory stocks. Answered: Which of the following is a | bartleby D. topics such as unemployment, inflation, and economic growth. Which of the following statements is false? c. Post hoc, ergo propter hoc The market mechanism. B) The federal government pays the salary of an FBI agent. Economics promotes which of the following as the way to make the best decision? Which of the following would be classified as fiscal policy? A) Individual income taxes; corporate income taxes C. Congress increased the minimum wage rate in January. In a market economy, who decides what goods and services will be produced? e. As a public safety measure, the state of Texas should not pass legislation that allows people with concealed handgun permits to carry concealed weapons on college campuses, A-Positive Which of the following is a macroeconomic question? A. How can a firm E) 9.5%. Math is a way of solving problems by using numbers and equations. d. All of the above To reduce the bias in the consumer price index, the Bureau of Labor Statistics b. Q: Choose the statement that does not describe Microeconomics. According to a deputy commissioner of police, "Commerce does very little of what we recommend. The third equation represents the investment function, where e and k are parameters. The production possibilities curve between tanks and automobiles will shift outward. b. Posted on February 28th, 2023 Last modified on February 28th, 2023 Comments. Start. Basic questions of economics - Economics Help C) 1.5% A) he lettuce that Subway purchases for its sandwiches D. some people live better than others do. A) GDP rises by $1,875. D) decrease tax rates. C) a decrease in the price of lithium, which is used in the electric car batteries. C) the demand for lawn care service has decreased. It indicates that the currency is in continuous demand by the people Oc taffects only the rich and not the poor Od itact as an incentive to boost in supply in the economy 2When the economy is in Keynesian macroeconomic equilibrium, planned investment is greater than actual investment. Productive efficiency d. Everyone always gets what they want, T/F Macroeconomics deal with the function of individual industries and the behavior of firms and households, All of the following are examples of topics examined in macroeconomics except b. A. Question 20. Question: Which of the following is macroeconomic issue ? - Mcqs Clouds B) portray reality in all its minute details. A. B. D) Brazil's GNP. B. A) the price of sailboats increased and the demand for sailboats decreased." Technological advancements have led to lower prices and an increase in the sale of color laser printers. The use of market prices and sales to signal desired output. What are the differences and similarities between behaviorism, psychodynamic, and humanistic perspectives? D) zero because there is no classroom time involved if you are enrolled in the course. C) Corporate income taxes; excise and other taxes By how much and in what direction does GDP change as a result of his efforts? B) greater on the seller when the tax is collected from the seller. b. Should we have economic growth? C. The overall economy. B. Prelims Marathon - Economic Survey - February 28th - 2023 In the first half of 2011, automobile sales in the United States were lower than they were in the first half of 2010. B. B. not everyone can have enough goods to survive. Answer: B Use the following diagram to answer questions 36-39: 36. All points outside the curve. Market failure. C. consumers B. stabilize the price level. B) The purchasing power of your salary fell between 2007 and 2016. B) increase in demand; increase in quantity demanded B) will raise disposable income and lower spending. Which of the following is a microeconomics question? D. Jenny's wage rate rose, and in response, she decided to work more hours. C) a full-time employee at a pizza parlor who makes more than the minimum wage In terms of the production possibilities curve, inefficiency is represented by (b) the level of aggregate demand determines production, employment,. D. What goods and services should we produce? Which of the following economic activities are included in the subject-matter of Economics? D. Government failure. B) price charged for laptop computers by Dell. B) total income in 2015 was around $17.3 trillion. Which of the following accurately compares discretionary fiscal C) a decrease in taxes 3. In the following macroeconomic system, find the parametric What goods and services to produce; how will these goods and services be produced; and who receives them? c. The overall price level in the economy A) -9.5% A) the cost of additional education is always higher during recession. MACROECONOMICS FREE-RESPONSE QUESTIONS MACROECONOMICS Section II Total Time1 hour . What determines the growth rate of gross domestic product? A. (B) important rather than trivial issues. Step-by-step explanation. Question 1 Multiple Choice Which of the following does macroeconomics d. Public economics. B. Should the government put a tax on alcohol in an attempt to reduce highway fatalities? D) the wages of college graduates do not fall during recession. Intervention in the economy by the government bureaucrats we do not see and over whom we have no control. Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. Several conditions must be met before the state is permitted to commit a person involuntarily: The person has a(n)___________ and is in need of treatment, the person Answered: Which of the following macroeconomic | bartleby A formal statement of theory, usually a mathematical statement of a presumed relationship between two or more variables, is called ______. a. B. how something will be produced; when something will be produced 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 _______________ All of the following are criteria frequently applied in judging economic outcomes except a. 1. b. C. income, saving and . Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. B) Chester buys a first-class ticket from Atlanta to London for his long-awaited vacation. ActivityAdmissionCleaningGroomingTotalindirectcostsEstimatedCost$60,000240,00080,000$380,000AllocationBaseNumberofadmissionsCleaningdirectlaborhoursGroomingdirectlaborhoursEstimatedQuantityofAllocationBase20,000100,0004,000. Compose a sentence using the following word. B) the equilibrium quantity of sailboats increased." B. B. E) States increase taxes to fund education. B) increase the measured labor force participation rate. C) an increase in unemployment insurance payments You'll get a detailed solution from a subject matter expert that helps you learn core concepts. A) the value of worn-out equipment, machinery, and buildings. B. D) GDP falls by $1,875. C) decrease; more Assume the punctuality random variable follows a binomial distribution. O a. The size of the underground economy would tend to decrease if the government of a country __________________ Investment, as defined by economists, would not include which of the following? B. Timer Bonus. Maximum combinations of goods and services an economy can produce given its available resources and technology. C) decrease the number of persons in the labor force. 2. D) technology. It is the field of economics that studies the behavior of the entire economy. Government intervention may achieve a more optimal outcome than the market mechanism when addressing Which of the following is a positive economic statement? Which of the following is/are functions of Department of Economic Affairs under Ministry of Finance? Is a normative analysis B) unemployed 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 The economy has gone into a recession. C) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States. a. Microeconomics D) about the same difficulty as with monetary policy. D) will raise disposable income and raise spending. D) building an online job database that helps workers find jobs. C. Maximum combinations of goods and services an economy can produce given unlimited resources. 1 #7. You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. C) gross domestic product of the United States. B) a cut in unemployment compensation A. trade-off . D. marginal costs C) The tax cut would increase consumption spending by the same amount as would a permanent tax cut. C) There will be a decrease in the quantity of labor supplied by households. It allows researchers to isolate the effect of one event on another without the influence of outside variables Which of the following would reduce the labor force participation rate, all else equal? 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. How were consumption and investment affected . C. Opportunity cost. 9 Questions. Which of the following is a problem inherent in centrally planned economies? B) The supply curve will shift to the right. B) an increase in quantity demanded. Prelims Marathon - Economic Survey - February 28th - 2023. Because Mike started looking for a new job ______________ B) Japan has abundant supplies of labor. C) continually declined. If the CPI rose from 82 to 202 between 2007 and 2016, which of the following is true? Inefficient bureaucracy. MACROECON CH 1 Flashcards | Quizlet How does a market system prevent people from getting as many goods and services as they wish? A. The demand for bottled water by individuals. C) lower; higher A) technological advancement in the production of electric car batteries. If a minimum wage of $15 per hour is imposed, which of the following will occur? D) refrigerator. Explain how these higher income taxes will affect the aggregate demand curve. What kind of unemployment is Sarah experiencing? The ________ effect of a price change refers to the impact of a change in the price of a good on a consumer's purchasing power If a German firm produces cars in the United States, that production should count towards C) clothing D) lawn care services are deliberately charging low prices because they want to discourage people from maintaining their own lawns. Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. C) cyclical unemployment The size of the underground economy would tend to increase if the government of a country ________________ D. Competition, Consider the following economic agents: They've told our detectives they have no interest in ever putting in the barriers.". B) gross national product of Canada. To move the economy back to potential GDP, Congress should ______________ D. Economic growth and market failure. C) a change in the amounts of one good desired. [Identify the impact of your changes to the income and corporate tax rates. B. the government A. B) frictional unemployment equals zero. D. The best alternative use of your time. A shift outward of the production possibilities curve. d. Dollar cost, T/F The process of analyzing the additional costs or benefits which arise from a decision is known as marginalism, You own the video game Grand Theft Auto V. The opportunity cost of playing this game for the second time A) the money supply and a decrease in interest rates. C) increased income tax rates. D) GDP is adjusted for increases in drug addiction. D) do not change; underestimates. B) government spending and taxes that automatically increase or decrease along with the business cycle. \text{Grooming}&\text{\underline{\hspace{15pt}80,000}}\hspace{10pt}&\text{Grooming direct labor hours}&\text{\hspace{10pt}4,000}\\ Check your understanding of civil commitment by filling A family's decision about how much income to save. B. i. B) by more than If the nominal rate of interest is 6.5% and the inflation rate is 3.0%, what is the real rate of interest? Public economics A: Macroeconomics is that branch of economics in which we study the economic problem and issues at a. D) buys U.S. government bonds. [Questions] Mains Marathon I Daily Answer Writing I Feb 28th, 2023. A) falls; Marla's work takes place in the underground economy once she's married C. How is the production quantity of snowboards determined? All of the following are sources of comparative advantage except If the ________ cost of production for two goods is different between two countries then mutually beneficial trade is possible. 60 seconds. In the market for lettuce, A. producing more of one good means less of another good can be produced. A) he tax cut would increase consumption spending less than would a permanent tax cut. You have majored in computer science and, because of the recession, have difficulty in finding a job. The Bureau of Labor Statistics would categorize a person as ________ if they were temporarily away from their job because they were ill A. A) an increase in the minimum wage B. What are some of the causes of desertification? What were the macroeconomic principles or models that influenced your decision making?] The following macroeconomic projected return models =. A. D) Japan has abundant supplies of natural resources needed to produce automobiles. When the laws about civil commitment emerged, The president has proposed increasing the marginal tax rate for people whose annual earnings exceed $275,000 and lowering the marginal tax rate for those who earn less than $275,000 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 D) The quantity of inkjet printers demanded decreases, Last month, the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit. Which assumptions do you need to make in order to be correct in considering a binomial distribution for your variable? B) higher; lower A. consumers dictating to firms what they need most. E. consumers and firms choosing which goods and services to buy or produce. C) make economic ideas explicit and concrete for use by decision makers. The automobile industry was experiencing the effects of _______ B) protect the environment. Which of the following is included in both the U.S. GDP and U.S. GNP? Is justified by the superiority of lassiez faire over government intervention. A) inflation What is the probability that they all will be late? D) efficient central planning. Which of the following would be the best measure of the cost of living? B) increases; decreases Profitability b. If inflation over the year is 2%, what is the real interest rate you are paying? Maximum combinations of goods and services an economy can produce given its available resources and technology. d. B and C only, T/F On a time series graph, time is measured along the vertical scale, People who eat kale on a regular basis are more likely to exercise every day than people who do not eat kale. D) there is a decrease in the expected rate of inflation. C. The allocation of resources by market forces. The production possibilities curve illustrates which two of the following essential principles?
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