Homework Answers
Positive statement in the market can be verified by numbers or facts but a normative statement in the market cannot be verified as it is just an opinion. The answer is "B".
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Ue supply curve for aspartame will shift to the left Question 22 3 pts The difference...
Question 16 1 pts Which of the following would shift a supply curve for a good...
Question 16 1 pts Which of the following would shift a supply curve for a good to the right? O An increase in taxes imposed on the production of the good O An increase in import restrictions on the good O an increase in import duties on the good O An increase in subsidies on the good O An increase in the price of the good
Please help with these questions Question 46 0.4 pts When two goods are complements to each...
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase...
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase in the Marginal Propensity to Consume An increase in the price of oil An increase in the amount of human capital A decrease in the actual price level Question 4 Suppose the economy is in its long run equilibrium. If there is a decrease in consumption, what happens in the short run? Price level rises and output rises...
please answer all Question 22 2.5 pts Which of the following will not cause the supply...
please answer all
Question 22 2.5 pts Which of the following will not cause the supply curve to shift? A technological change in the production of the good A change in the prices of other goods that producers could be producing A change in the costs of resources needed to produce the good A change in the price of the good 2.5 pts Question 23 A fall in the price of milk, used in the production of ice cream, will:...
Please help with these questions, Question 21 0.16 pts One difference between implicit costs and explicit...
Please help with these questions,
Question 21 0.16 pts One difference between implicit costs and explicit costs is that implicit costs are included in economic profits, whereas explicit costs are not. explicit costs are included in economic profits, whereas implicit costs are not. O implicit costs are included in accounting profits, whereas explicit costs are not. explicit costs involve opportunity costs, whereas implicit costs involve a monetary transaction. explicit costs are included in accounting profits, whereas implicit costs are not....
Please help with these questions Question 25 0.4 pts If the short-run supply curve, the demand...
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Question 25 0.4 pts If the short-run supply curve, the demand curve, and the long-run supply curve all intersect at the same point, firms will experience. economic profits, which means the price is____ the average total cost curve the minimum point on negative; at positive; above O zero; above zero; at O negative; below Question 26 0.4 pts If all monopolistically competitive firms had identical cost curves, then O long-run profit for each firm would...
11)A supply curve that is horizontally sloped is an accurate representation of the law of supply...
11)A supply curve that is horizontally sloped is an accurate representation of the law of supply given ceteris paribus when only price changes for a good is a: (a)False statement (b)True statement (c)More information needed to respond (d)All of the above (12)Positive economic analysis deals with_________________________ and normative economic analysis deals with_____________________ (a)What should be, what is (b)What is, what ought to be (c)Fiction, fact (d)Positive things, negative things (13)If given ceteris paribus there is a positive correlation between annual...
Question 2 (1 point) A decrease in supply shifts the supply curve to the left. True...
Question 2 (1 point) A decrease in supply shifts the supply curve to the left. True False Question 4 (1 point) The equilibrium price is the same as the market-clearing price. True False Question 5 (1 point) When the market price is above the equilibrium price, the quantity of the good demanded exceeds the quantity supplied. True False Question 6 (1 point) Which of the following events must cause equilibrium price to fall? a) demand increases and supply decreases b)...
12. What causes for a demand curve to shitft to right or to left? When do...
12. What causes for a demand curve to shitft to right or to left? When do we move from one point to another on a demand curve, what causes it? 13. Demonstrate graphically how a horizontal summation of "individual demand curves" provides a "market demand curve." 14. Discuss the most important factors/variables that affect supply of goods and services 15. Explain the difference between moving on the same supply curve and shifting the curve to right or left. 16. Demonstrate...
QUESTION 7 Suppose you often come home and find that an uninvited dog has left a...
QUESTION 7 Suppose you often come home and find that an uninvited dog has left a calling card in your yard. Determining whose dog is responsible is an example of which of the following? Holdout problem Assignment problem Free-rider problem Externality-internalization problem Transaction costs and negotiating problems 1 points Save Answer QUESTION 8 Which of the following suggests that when an investment has a personal cost but a common benefit, individuals will underinvest? O Holdout problem Assignment problem Free-rider problem...
Question 16 1 pts Which of the following would shift a supply curve for a good to the right? O An increase in taxes imposed on the production of the good O An increase in import restrictions on the good O an increase in import duties on the good O An increase in subsidies on the good O An increase in the price of the good
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
Question 3 Which of the following causes the SRAS curve to shift left? O A decrease in the money supply An increase in the Marginal Propensity to Consume An increase in the price of oil An increase in the amount of human capital A decrease in the actual price level Question 4 Suppose the economy is in its long run equilibrium. If there is a decrease in consumption, what happens in the short run? Price level rises and output rises...
please answer all
Question 22 2.5 pts Which of the following will not cause the supply curve to shift? A technological change in the production of the good A change in the prices of other goods that producers could be producing A change in the costs of resources needed to produce the good A change in the price of the good 2.5 pts Question 23 A fall in the price of milk, used in the production of ice cream, will:...
Please help with these questions,
Question 21 0.16 pts One difference between implicit costs and explicit costs is that implicit costs are included in economic profits, whereas explicit costs are not. explicit costs are included in economic profits, whereas implicit costs are not. O implicit costs are included in accounting profits, whereas explicit costs are not. explicit costs involve opportunity costs, whereas implicit costs involve a monetary transaction. explicit costs are included in accounting profits, whereas implicit costs are not....
Please help with these questions
Question 25 0.4 pts If the short-run supply curve, the demand curve, and the long-run supply curve all intersect at the same point, firms will experience. economic profits, which means the price is____ the average total cost curve the minimum point on negative; at positive; above O zero; above zero; at O negative; below Question 26 0.4 pts If all monopolistically competitive firms had identical cost curves, then O long-run profit for each firm would...
Question 2 (1 point) A decrease in supply shifts the supply curve to the left. True False Question 4 (1 point) The equilibrium price is the same as the market-clearing price. True False Question 5 (1 point) When the market price is above the equilibrium price, the quantity of the good demanded exceeds the quantity supplied. True False Question 6 (1 point) Which of the following events must cause equilibrium price to fall? a) demand increases and supply decreases b)...
12. What causes for a demand curve to shitft to right or to left? When do we move from one point to another on a demand curve, what causes it? 13. Demonstrate graphically how a horizontal summation of "individual demand curves" provides a "market demand curve." 14. Discuss the most important factors/variables that affect supply of goods and services 15. Explain the difference between moving on the same supply curve and shifting the curve to right or left. 16. Demonstrate...
QUESTION 7 Suppose you often come home and find that an uninvited dog has left a calling card in your yard. Determining whose dog is responsible is an example of which of the following? Holdout problem Assignment problem Free-rider problem Externality-internalization problem Transaction costs and negotiating problems 1 points Save Answer QUESTION 8 Which of the following suggests that when an investment has a personal cost but a common benefit, individuals will underinvest? O Holdout problem Assignment problem Free-rider problem...
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