which of the following would be a macroeconomic question? which of the following would be a macroeconomic question?

D. marginal costs C) No, the recession will most likely be short-lived and I can get a job after it is over. B. B. B. D) zero because there is no classroom time involved if you are enrolled in the course. Annes Newton - G00378073- ECON QUIZ 2. A) increasing government purchases or decreasing taxes. a. margin of safety. Which of the following is/are functions of Department of Economic Affairs under Ministry of Finance? C. A surplus of . c. Falls victim to "post hoc, ergo propter hoc." D. A movement from the production possibilities curve to a point inside the production possibilities curve. A) When will the government better secure the borders? It is also the case that reported burglaries increase during the same period. A) Micah purchases a new wrench for his auto repair business. Which of the following is not a factor of production? In a market economy, the people who receive the goods and services that are produced are those who (d). Which of the following best describes an assumption economists make about human behavior? B) The tax cut would increase consumption spending more than would a permanent tax cut. B) unattainable The market mechanism. 300+ TOP Macroeconomics MCQs and Answers Quiz Exam Which of the following is an example of government failure? known as ___________ Mental illness is a(n)___________ concept, typically A) the value of all cars produced by General Motors in the United States C. Lassiez faire price policies. A) Technological change occurs at a faster rate in Europe, so structural unemployment is higher in Europe. D) all of the above. GDP is not a perfect measure of well-being because _________ A city's decision to limit smoking in public areas is an example of B. C. Market mechanisms and lassiez faire. From an initial long-run equilibrium, if aggregate demand grows faster than long-run and short-run aggregate supply, then Congress and the president would most likely ________ bi tp eco question points): given the following annual information about hypothetical country, answer the following questions (expenditure approach to gdp) Skip to document. B) the consumer surplus received from purchasing a given quantity of a product. B) the nominal interest rate minus the inflation rate. A) automatic stabilizers; discretionary fiscal policy A. gross earnings Both discretionary fiscal policy and monetary policy are instruments that governments employ to control the economy. A) deadweight loss is maximized The equilibrium wage in a local labor market is $10 per hour. C. the economy as a whole. &\textbf{Estimated}\hspace{10pt}&&\textbf{Estimated Quantity}\\ 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? D) the level of technology is fixed and unchanging. E) the cost of tuition and fees only. B. not everyone can have enough goods to survive. C) the unemployment rate decreased. Market failure. If market signals result in pollution beyond the optimal level, then B) discouraged workers Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. Capital, as economists use the term, refers to. 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. Step-by-step explanation. According to the text, economists consider full employment to occur when You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. Macroeconomics Flashcards | Quizlet Use the supply schedule below to answer the following question: Price $10 $20 Quantity Supplied 100 This problem has been solved! answer choices. b. Macroeconomics is focused on the movement and trends in the economy as a whole. B. B) the value of the house in 2003 d. Public economics. D) Your father buys a new John Deere riding lawn mower. Which of the following is a positive economic statement? Nonetheless, you continue along your career path looking for a new job because _____________ P = $80 In perfect competition, P = AR = Macroeconomics, 4e (Hubbard/O'Brien) Chapter 1 Economics: Foundations Answering these four questions is essential for an economy to function properly. B) frictional unemployment equals zero. The study of national economy as whole. A) the free market. C. choices; scarce Which of the following is a macroeconomics question? d. Congress extends the maximum duration for the collection of unemployment benefits from 26-52 weeks, T/F The collection and use of data to test economic theory is called empirical economics, To analyze the relationship between two variables while holding the values of other variables unchanged is a device known as Upon your graduation from college, you find that the economy is in recession and the unemployment rate is relatively high. B. the idea that the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies. 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? The following macroeconomic projected return models The production possibilities curve between tanks and automobiles will shift outward. Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments. The production possibilities curve illustrates which two of the following essential principles? d. Eliminating the trade embargo with Cuba would increase the number of Cuban cigars available in the United States b. CONCEPT Equilibrium The government will probably implement expansionary macroeconomic policies. D. What factors determine the price of electronic cigarettes? B. The automobile industry was experiencing the effects of _______ B) those that lend money lose. C) the interest rate determined by the supply and demand in the money market. An outward shift of a nation's production possibilities frontier can occur due to You have majored in computer science and, because of the recession, have difficulty in finding a job. D) the demand curve shifted to the left resulting in a decrease in the equilibrium price. What goods and services to produce; how will these goods and services be produced; and who receives them? 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 The importance of the ceteris paribus assumption when using models is that: C. Production managers are more concerned with satisfying government's orders than with satisfying consumer wants. B. Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. A) U.S. GNP. Solved Which of the following is a macroeconomic question? | Chegg.com d. Automatic stabilizers refer to A. Which of the following individuals would be most negatively affected by anticipated inflation? A. how households and firms make choices. D) The Federal government pays to support research on AIDS. C) Producer efficiency B) Their value is counted separately, and their value is also included as part of the value of the final good for which they are an input. The opportunity cost of taking an on-line history class is b. 9 Questions. In the market for lettuce, D) Lily purchases a new massage table for use in her therapy center. Real domestic output is at its maximum level. D. purchases; unlimited; The branch of economics which studies the behavior of entire economies is called C) not change GDP. This would It allows researchers to isolate the effect of one event on another without the influence of outside variables Total the statement columns, compute net income (loss), and complete work sheet. C) Every individual, no matter how rich or poor, is faced with making trade-offs. Macroeconomics focuses on the performance of C) less than 5 times as much as your grandfather in terms of real income. A. Macroeconomics EC112 Flashcards | Quizlet B. The economic term for the costs associated with negotiating and enforcing a contract is a. opportunity costs. C. Maintaining a strong level of economic growth. Your grandfather tells you that he earned $7,000/year in his first job in 1961. C) equity B) the supply curve shifted to the left resulting in a decrease in the equilibrium price. B) total consumption of goods is greater. A. Have the most political power. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes? 3. The following questions relate to long-run macroeconomic D) the payroll tax. You are investigating the punctuality of the airlines in Asia. d. Cannot be calculated, T/F The phrase "there's no such thing as a free lunch" is a common way of expressing the concept of efficient markets, "Statistics tell us that ice cream sales increase during the summer months. A) higher; higher D. The best alternative use of your time. 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. Guns and butter can be produced using the same resources at the same time. Macroeconomics, as opposed to microeconomics, includes the study of what determines the ____________ C) GDP rises by $125. For below problem geometric sequence given write the next three terms. Which of the following is a microeconomics question? What are some of the causes of desertification? 1. c. It considers part-timers as employed, and hence it is understated. a. C) a discouraged worker a. When the variable measured along the x-axis and the variable measured along the y-axis move in the same direction, it indicates a ________ relationship between the two variables. This means Because Mike started looking for a new job ______________ What is Macroeconomics? Maximum combinations of goods and services an economy can produce given its available resources and technology. What is the probability that they all will be late? Who, in a modern mixed economy, decides what goods and services will be produced with the scarce resources available in that economy? Is way of analyzing decision-making processes caused by scarcity A) The demand curve for traditional camera film shifts to the right. B. the possibility of inefficient production. The Federal Reserve lowered interest rates at its last meeting. MCQs on Basic Economics - GeeksforGeeks D) the value of the services of the real estate agent, Which of the following goods is directly counted in GDP? C. Eliminates market failures by government. A pair of shoes that costs $80 last month costs $100 this month. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in (1). B. C) greater on the buyer when the tax is collected from the seller and greater on the seller when the tax is collected from the buyer. B) a competitive equilibrium is achieved A) Individual income taxes; corporate income taxes A) an increase in the minimum wage A. income; available D) on foreign soil. C. maintain equilibrium in the Balance of Payments. B) a natural disaster like a hurricane or bad earthquake. The two policies may have similar objectives, which are to foster economic development and stability; nevertheless, the ways . A) U.S. GDP. Bill Gates does not face scarcity because he is a billionaire A) marginal \text{Admission}&\text{\$\hspace{10pt}60,000}\hspace{10pt}&\text{Number of admissions}&\text{\hspace{5pt}20,000}\\ As more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities falls National income is equal to A) a law making it illegal to work more than 35 hours per week 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) greater on the buyer when the tax is collected from the buyer. Calculate the predetermined overhead allocation rate for each activity. How consumers make purchasing decisions c. Inflation, unemployment, and economic growth d. Final decision making A A. For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) post the entry using T-accounts to represent ledger accounts. The Government will decrease spending by $20 million and increase taxes by $15 million. b. C) raise taxes by $200 billion. C. A movement from inside the production possibilities curve to a point on the production possibilities curve. a. A) There will be an increase in unemployment. D. None of these choices are correct. A) Economic efficiency c. It eliminates the need for abstraction or simplification C) total spending in 2015 was around $17.3 trillion. The advice to "keep searching, there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment? Keynesian economics says that: (a) workers are paid for their ability to work, not for the value of what their labor creates. B) the price level in 2016 was less than the price level in the base year. D) producer surplus is minimized. A ________ can change over time or across observations. [Solved] The following table contains nominal and - SolutionInn B. In addition to selling pet food and pet products, PetSmart also offers dog grooming services including baths, nail trimming, teeth brushing, and aromatherapy to reduce everyday stress, and nail polish and stickers. This situation will most likely coincide with high unemployment. B) The demand for video game consoles would decrease and the equilibrium price of video game consoles would decrease. 1 #7. 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 Which one of the following is not a key people behind macroeconomics? A. producing more of one good means less of another good can be produced. B. a nation's poverty level increases faster than its population. Where in Oceania are outrigger canoes used? C. society's output cannot be made available to all. Holding everything else constant, how would this affect the market for video game consoles (a complement to LCD televisions)? Three Economic Questions: What, How, For Whom? | Encyclopedia.com D) GDP falls by $1,875. C) will lower disposable income and raise spending. To move the economy back to potential GDP, Congress should ______________ A sharp rise in the price of vegetables. A) Their value is not counted separately, but included as part of the value of the final good for which they are an input. Required use of pollution control technology that is obsolete. A. International economics. B) a cut in unemployment compensation A. What determines the salaries of Wall Street executives? D) an increase in the price of gasoline. A) horizontal. Marco's consumer surplus from the purchase is A. producers B) a decrease in government purchases C) make economic ideas explicit and concrete for use by decision makers. It is the field of economics that studies the behavior of the entire economy. How were consumption and investment affected . A) the Pacific Trade Association. Which of the following best defines economics? D. Competition, Consider the following economic agents: Compared to their pre-trade positions, trade makes both countries better off because in each country C) Japanese firms benefited from external economies. A decrease in input costs in the production of LCD televisions caused the price of LCD televisions to decrease. C. lawmakers in the government voting on what will be produced. Prelims Marathon - Economic Survey - March 1st - 2023 Solved Which of the following is an example of a | Chegg.com d. Why do some countries grow faster than others? ECO111 Quizz 01 FALL 2021. Producers are using inventory faster than it can be replaced. e. None of the above. A) everyone who wants a job has a job. D) above the market wage, causing labor demand to be less than labor supply. D. Increasing opportunity costs will occur with greater tank production. Choices made by people faced with scarcity b. B) far less difficult than with monetary policy. The following macroeconomic projected return models =. Cutting taxes _______ A shortage of maths teachers. Macroeconomics is a branch of economics that depicts a substantial picture. Question 20. Check your understanding of civil commitment by filling True 3Government fixes the floor and ceiling . Ch. 1 Microeconomics Homework Flashcards | Quizlet B. Combinations of goods and services an economy is actually producing. Writing Period 50 minutes . Which of the following is a macroeconomic question? A. What determines A. How much will be saved; what will be produced; and how can these goods and services be fairly distributed? B) below the market wage, causing labor demand to be less than labor supply. C) above the market wage, causing labor demand to be greater than labor supply. B) explicit Which of the following would be the best measure of the cost of living? B. D. Allocative efficiency. A) a demand curve has shifted to the left. Report an issue. b. Production possibilities curve will shift outward. B) there is a one-time increase in the price level. is a corporation unresponsive to the demands of its customers? Macroeconomics (ECON 202) Assignment-No.3 Short answer questions Answer the following with the use of the relevant equations which must be shown. a. D) the same whether the tax is collected from the buyer or the seller. The exports are equal to import. Determine the following steps in preparing a work sheet in their proper order by writing numbers 1-5 in the blank spaces provided. c. The overall price level in the economy B. producers deciding what society wants most. C. The process by which the production possibilities curve shifts inward. (Round percentages to one decimal place.). A) the nominal interest rate plus the inflation rate. D) quantity of Dell employees. C.. c. Bill Gates faces scarcity because resources are limited B) the search process of matching workers with jobs. c. Post hoc, ergo propter hoc D) ice cream is a normal good and hot fudge is an inferior good. D) efficient central planning. What kind of unemployment is Sarah experiencing? B) made over-the-counter drugs illegal. B. decisions; household D) technology. D) real GDP in 2016 was greater than real GDP in the base year. MACROECON CH 1 Flashcards | Quizlet A. B) The federal government pays the salary of an FBI agent. C. The overall economy. C) clothing Simple economies can be described in terms of three major economic Assume that a hypothetical economy is at long-run macroeconomic equilibrium with full employment and stable prices. D) no one in the economy loses. C) The demand for video game consoles would decrease because consumers could afford to buy fewer LCD televisions and video game consoles. However, with increased productivity, the economy has more available resources which can be used for non-necessary goods, such as leisure and education. C. the tendency of many economic variables to move together in a predictable way over the business cycle. Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. Macroeconomic quiz with answers | Math Tutor - jm49.toastenoteca.com A. A) -3%. C. Relies on the use of central planning by private firms rather than the government. Question: Which of the following is a macroeconomics question? A) personal income minus personal taxes. Macroeconomics | Economics Quiz - Quizizz C) productively efficient B. the government B) productive efficiency To understand society and global affairs Chuck is paying Marla $150 per hour to design his new home. B) a job retraining program D) Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force. C) there are not enough jobs for everyone who wants one. A. C) disposable personal income plus depreciation plus personal taxes. Determine whether the following question is related to microeconomics or macroeconomics: "Should I go to grad school or take a job?" What are some important facts regarding macroeconomics? C) The demand curve will shift to the right. D) risen; fallen. C) do not change; overestimates C. What will be the prices of goods and services; how will these goods and services beproduced; and who will receive them? Suppose in 2016, you purchase a house built in 2003. A) fallen; fallen C) Brazil's GDP. Microeconomics is the study of given up when we make a decision is called ____ of that decision (B) important rather than trivial issues. D) The minimum wage in Europe is lower than it is in the United States. Which of the following events would allow the production possibilities curve to shift outward? D) seasonal unemployment, Structural unemployment is the result of ____________ A) updates the market basket every two years, rather than every 10 years. C) opportunity there is a current account surplus. Would a projects NPV for a typical firm be higher or lower if the firm used accelerated rather than straight-line depreciation? D. the choices people make to attain their goals, given their scarce resources. B) increase the measured labor force participation rate. It converts normative analysis into positive Use the following (partial) chart of accountsaccount numbers in parentheses: Cash (101); Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201); Unearned Landscaping Revenue (236); D. Tyler, Capital (301); D. Tyler, Withdrawals (302); Landscaping Revenue (403); Wages Expense (601), and Landscaping Expense (696). D) 3.5% B. still have an economic problem. A shift inward of the production possibilities curve. B) will raise disposable income and lower spending. Th View the full answer Bureaucratic delays C) a full-time employee at a pizza parlor who makes more than the minimum wage although this definition differs from state to state. A) the knowledge and enjoyment you receive from taking the class. B. microeconomics. Microeconomics is the study of a single unit or a single firm whereas the macroeconomics is.. (a). C) the ACIF. B) increasing taxes or decreasing government purchases. Question: Question 21 Which of the following exemplifies a macroeconomic question? A) a reduction in unemployment. Math is a way of solving problems by using numbers and equations. C. Macroeconomic failure. A) urniture B) -3.5% d. The "richest man in the world" does not face scarcity because he has more money than others, Indicate whether the following statements are examples of positive economic analysis or normative economic analysis Which of the following is an example of a "how much" decision? Question: Which of the following is an illustration of a macroeconomic question? there is a current account deficit. Multiple Choice Quiz - Oxford University Press An increase in national defense implies more sacrifices of civilian goods and services. Select the phrase that correctly completes the following statement. An undesirable combination of goods and services. A. C) The tax cut would increase consumption spending by the same amount as would a permanent tax cut. \textbf{\hspace{10pt}Activity}&\textbf{Cost}&\hspace{20pt}\textbf{Allocation Base}&\textbf{of Allocation Base}\\ B. A. why something will be producedwhat will be produced C) The market system allocates goods and services to those who are able to pay for those products and therefore income is a limiting factor. C) the value of the addition to the capital stock. B) the equilibrium quantity of sailboats increased." C) a tank purchased by the federal government a. How can a firm maximize profits, given the state of the economy? Markets are likely to do a better job of allocating resources than government directives. D) the firm will not change supply until it knows for certain what will happen to its price.