Which of the following would be included in the gross domestic product for 2016? C. Maintaining a strong level of economic growth. C) equal to the highest value of an alternative use of the time and money spent on the class. Question: Which of the following is macroeconomic issue ? - Mcqs Clouds b. C) The demand for video game consoles would decrease because consumers could afford to buy fewer LCD televisions and video game consoles. National income is equal to C. There is often a tradeoff between the two. B) Yes, the recession will lower income in my field permanently. c. Marginal cost A formal statement of theory, usually a mathematical statement of a presumed relationship between two or more variables, is called ______. C. Market mechanisms and lassiez faire. Please don't take his comments (a) personal, (b) personally. Which of the following is a macroeconomics question? A. d. National output, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Alexander Holmes, Barbara Illowsky, Susan Dean. A. B) taxes; the money supply C) lower; higher A) personal income minus personal taxes. D. purchases; unlimited; The branch of economics which studies the behavior of entire economies is called a. 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. Government failure. \text{Cleaning}&\text{{\hspace{10pt}240,000}}\hspace{10pt}&\text{Cleaning direct labor hours}&\text{100,000}\\ D. macroeconomics. Option b: This option is incorrect because medium of exchange is a function of money as money is used to exchange goods between buyer and seller. C) not change GDP. The correct answer is C. Explanation: Macroeconomics tries to know and measure an economy goes, how well it is performing. B) What determines the production of video game consoles? Which of the following is not a durable good? Which one of the following is the objective of fiscal policy? C. Production managers are more concerned with satisfying government's orders than with satisfying consumer wants. Producers are using inventory faster than it can be replaced. Market failure. If inflation is positive and is perfectly anticipated ____________ B) relative abundance of labor and capital. B) The purchasing power of your salary fell between 2007 and 2016. E. pure profit. A) the price level in 2016 was greater than the price level in the base year. Which of the following is a macroeconomic question? A. What determines C) No, the recession will most likely be short-lived and I can get a job after it is over. A) increase; more C) The purchasing power of your salary remained constant between 2007 and 2016. C) more difficult than with monetary policy. International economics. Cutting taxes _______ d. All of the above Macroeconomics, 4e (Hubbard/O'Brien) Chapter 1 Economics: Foundations b) A French pharmaceutical firm builds a new factory in Poland for its subsidiary. C) ensure safe imports. Scarce resources and opportunity cost. A shortage of maths teachers. B. B) total income in 2015 was around $17.3 trillion. C) clothing Macroeconomics is a branch of economics that deals with the structure, performance and behaviour of the overall economy. b. unit contribution margin. What determines the salaries of Wall Street executives? The "guns versus butter" dilemma that all nations confront is that Profit opportunities are eliminated almost instantaneously D) the plastic bags that Subway purchases to wrap its sandwiches. Posted on March 1st, 2023 Last modified on March 1st, 2023 Comments. Explain the pitfall of this statement. A. producing more of one good means less of another good can be produced. MACROECON CH 1 Flashcards | Quizlet They always call for opposite outcomes. B. a nation's poverty level increases faster than its population. A) the firm has an incentive to increase supply now and decrease supply in the future. B. the possibility of inefficient production. Combinations of goods and services an economy is actually producing. D) gross national product of Canada and the gross national product of the United States. PDF AP Macroeconomics 2018 Free-Response Questions - College Board Que11. Solved Which of the following is an example of a | Chegg.com A) the Income Security Tax. Given that, the question "According to the Bureau of Economic Analysis, what has been the average annual level of inflation (as measured by the GDP Deflator) over the past 10 years?" B) an increase in government spending 7 Principles of Macroeconomics- Chapter 1 C) increase flows (2) and (3) and reduce flows (6) and (7). 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. If Congress passed a one-time tax cut in order to stimulate the economy in 2014, and tax rate levels returned to their pre-2014 level in 2015, how should this tax cut affect the economy? B) updates the market basket every 10 years, rather than every two years. b. BOOK Market Leader intermediate 3rd edition. Markets are likely to do a better job of allocating resources than government directives. A) Anytime you have to decide which action to take you are facing an economic trade-off. Step-by-step explanation. B) There will be an increase in the quantity of labor demanded by firms. Preparation and presentation of Union Budget 2. C) the value of all cars produced by Toyota in the United States A) inflation The decision about what goods and services will be produced in a market economy is made by Second, they are generally less able than are the better off to protect the real value of their incomes and assets from inflation. B) the price level in 2016 was less than the price level in the base year. C. Production of nonmilitary goods will decrease. A) The demand curve for inkjet printers shifts to the right. C.. For schedule, refer to the archive link given below. Which of the following is/are functions of Department of Economic Affairs under Ministry of Finance? A pair of shoes that costs $80 last month costs $100 this month. C) $140. a. Ockham's razor B. microeconomics. Microeconomics questions and answers Refer to the following graphs to answer the question below. Why has the unemployment rate been nearly twice as high in Europe as in the United States in recent years? Which of the following is an example of government failure? The economic term for the costs associated with negotiating and enforcing a contract is a. opportunity costs. B) vertical. 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. D) The demand for video game consoles would increase and the equilibrium price of video game consoles would increase. 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. A) the unemployment rate increased. B) $60. C) oil prices. First, the poor tend to hold most of their financial assets in the form of cash rather than in interest-bearing assets. (a) Unlimited Wants although this definition differs from state to state. A) taxes; interest rates a. D) less than 5 times as much as your grandfather in terms of nominal income. B) consumption; investment A. Nonetheless, you continue along your career path looking for a new job because _____________ [Solved] The following table contains nominal and - SolutionInn Concept why study macroeconomics 16 which statement C) consumer surplus is minimized B) higher; lower c. degree of operating leverage. A) attainable 1) Economic models do all of the following except A) answer economic questions. Which of the following is a positive economic statement? For below problem geometric sequence given write the next three terms. Which assumptions do you need to make in order to be correct in considering a binomial distribution for your variable? A. C. Can a tax cut lead to a government budget surplus? C) a strong foreign currency exchange rate. C. Want the goods and services the most. The ability to exercise control over one's own resources within the confines of the law refers to A. What is the impact of competition on the profits of a business? This tax is sometimes referred to as Which of the following statements uses the concept of equity to argue against the legalization of casino gambling? C) less than 5 times as much as your grandfather in terms of real income. Microeconomics answers - Micro Summary exam 1 questions and answers microeconomics exam which of the following is macroeconomics question a:how much would math. In a market economy, who decides what goods and services will be produced? Allocative efficiency best explains ________, and productive efficiency best explains________. How does the increasing use of digital cameras affect the market for traditional camera film? D. What factors determine the price of electronic cigarettes? B) automobile C) by the same amount as Which of the following is an example of a "how much" decision? a. E) raise taxes by an amount more than $200 billion. A. A shift inward of the production possibilities curve. B. E. consumers and firms choosing which goods and services to buy or produce. C) a change in the amounts of one good desired. Buyers will bear the entire burden of a unit tax if the demand curve for a product is A. Suppose that nominal GDP in 2016 was less than real GDP in 2016. Sarah is a full-time student who is not looking for work. Government agencies. 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. Th View the full answer A) The federal government buys a Humvee. C) The federal government pays out an unemployment insurance claim. C) decrease the number of persons in the labor force. The production possibilities curve between tanks and automobiles will shift outward. C) Their value is counted separately, but is not included as part of the value of the final good for which they are an input. Suppose a drought resulted in a major reduction in the California lettuce crop. D) the demand curve shifted to the left resulting in a decrease in the equilibrium price. If your nominal wage rises faster than the price level, we can say your real wage has ________ and the purchasing power of your income has ________ c. Florida should devote all revenues from its state lottery to improving public education Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy? For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $50,000 for advertising. 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. D) upward sloping. D) only change GDP if the development occurs within the borders of the United States. is a corporation unresponsive to the demands of its customers? Macroeconomics is the branch of economics that deals with: (A) the prices of individual goods. A city's decision to limit smoking in public areas is an example of B) when real GDP is above but close to potential GDP. In the first six months of 2003, branches of Commerce Bank in New York City were robbed 14 times. A) Their value is not counted separately, but included as part of the value of the final good for which they are an input. What are the differences and similarities between behaviorism, psychodynamic, and humanistic perspectives? D) a decrease in the quantity supplied. B) the number of lawn care service companies has increased. Expected inflation is 2.3% and actual inflation may be greater by 0.4%, calculate the impact on the S&P500 projected return ( How would the projected return change) Create a portfolio invested in Boaz Allan (BAH) and Five9 (FIVN) with the . B. B) an increase in quantity demanded. If the ________ cost of production for two goods is different between two countries then mutually beneficial trade is possible. They are both automatically achieved in a free market economy. 60 seconds. c. Labor economics C) builds another assembly plant in the United States. The market mechanism A) an induced; an autonomous A. If the nominal rate of interest is 6.5% and the inflation rate is 3.0%, what is the real rate of interest? The third equation represents the investment function, where e and k are parameters. D) technology. c. Focuses on how a business should function The data is listed per quarter, and the real GDP data was calculated using 2009 as the base year. c. As less and less time is spent on one activity, the opportunity cost of that activity in terms of other activities rises B. Factors of production and price signals. B. Which of the following is a normative economic statement? The economy may be in equilibrium. B. decisions; household C. unlimited resources exceed limited wants. A. a. Macroeconomics Flashcards | Quizlet d. Is concerned with proving that capitalism is better than socialism, An efficient market is a market which 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 Which field of economics deals primarily with the problems faced by low-income countries? C. Opportunity cost. Which of the following statements about positive economic analysis is true? ECO 210 Ch.1 Flashcards | Quizlet When the invisible hand does not produce optimal outcomes for the economy, there is evidence of A) gross domestic product of Canada. D) The demand curve for traditional camera film shifts to the left. D) automatic monetary policy, Since the Social Security system began in 1935, the number of workers per retiree has __________ Explain how these higher income taxes will affect the aggregate demand curve. Every society faces economic tradeoffs. B. D) both U.S. GNP and German GDP. Which of the following is not a function of money? Group of c. functional costs. D) allocatively efficient. View Answer The key. The impact of crowding out may be the least _____________ D. Who gets jobs; what wages do workers earn; and who owns what property? Would a projects NPV for a typical firm be higher or lower if the firm used accelerated rather than straight-line depreciation? D) a contractionary; an expansionary. Based on this evidence, Tecumseh has experienced An increase in ____________ C-Nomative B) The Federal Reserve cuts interest rates to stimulate the economy. D. People begin to retire at earlier ages. C. Maximum combinations of goods and services an economy can produce given unlimited resources. (a) Economic Activities related to Unlimited Wants (b) Economic Activities related to Limited Resources (c) Both (a) and (b) (d) None of these Answer Question 4. B) The quantity of traditional camera film demanded decreases. D. A rightward shift of the curve. A. public economics. Examples of comparative advantage show how trade between two countries can make each better off. B) remain the same. d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer. D) quantity of Dell employees. B) an increase in the unemployment rate What factor was most responsible for the development of Japan's comparative advantage in automobiles? Scarcity refers to the situation in which. Which of the following would be the best measure of the cost of living? Answered: Which of the following macroeconomic | bartleby During a business cycle expansion, total production ________ and total employment ________. [Identify the impact of your changes to the income and corporate tax rates. D) Japan has abundant supplies of natural resources needed to produce automobiles. A) What determines the minimum wage? Which of the following can be used to correct market failure? Macroeconomics Problems | Interest Rate Inflation & Unemployment - EDUCBA of disabled individuals to a less restrictive facility) also A mixed economy C) below; surplus Principles of Macroeconomics Quiz- Which of the following represents the major functions of the central bank (a) note issuing agency (b) controller of. A. producing more of one good means less of another good can be produced. C) downward sloping. B) some people do not want a job. b. D) Producer surplus measures the total benefit received by producers from participating in a market. Persistence is A. the tendency for declines in economic activity to be followed by further declines, and for growth in economic activity to be followed by more growth. Lower disposable income decreases consumption at every price level. True 3Government fixes the floor and ceiling . The production possibilities curve illustrates which two of the following essential principles? Aggregate unemployment B. What is the probability that they all will be late? Question 12. Keynesian Economics Questions and Answers - Study.com C) above the market wage, causing labor demand to be greater than labor supply. You are investigating the punctuality of the airlines in Asia. Economics promotes which of the following as the way to make the best decision? 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 _______________ b. A) decreased government regulations on businesses. A) higher; higher Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. C) A state government cuts taxes to help the economy of the state. A. How consumers make purchasing decisions c. Inflation, unemployment, and economic growth d. Final decision making A What goods and services to producehow will these goods and services be produced; and who receives them? Solved Question 21 Which of the following exemplifies a - Chegg These are: A. income, spending and saving. The demand for bottled water by individuals. B) add to GDP. A) the value of all cars produced by General Motors in the United States D) the nominal interest rate. C) a discouraged worker D) a slowdown in the economy. Chuck is paying Marla $150 per hour to design his new home. See Answer 14 15 Show transcribed image text Expert Answer Answer no (14). B) will raise disposable income and lower spending. a. Q: Choose the statement that does not describe Microeconomics. As a result, _____________ The ________ production points on a production possibilities frontier are the points along and inside the production possibilities frontier.