Which of the following best represents the idea of the marginal cost of increasing speed while...
Which of the following best represents the idea of the marginal cost of increasing speed while driving?
a. The total amount of time it will take to arrive at your destination
b. The amount of time saved by increasing your speed
c. The probability that you receive a ticket for speeding
d. The increase in the probability that you receive a ticket as you increase speed
Which of the following could be considered an indirect response to incentives provided by government programs offering wage subsidies to companies that hire more workers?
a. Companies often replace more expensive full‐time workers with new part‐time workers (whose wages are being subsidized)
b. Companies often hire new workers because the subsidies reduce the cost of workers
c. Companies often decide that they do not need to hire new workers
d. All of the above .
Which of the following would cause the demand curve to shift to the right in the Moscow market for Hot Pockets?
a. A decrease in the price of Hot Pockets
b. An increase in Moscow’s population
c. An increase in the wages of workers in the production facilities where Hot Pockets are produced
d. A decrease in the price of the “meat” used to produce Hot Pockets e. Any of the above could shift the demand curve to the right
Homework Answers
Which of the following best represents the idea of the marginal cost of increasing speed while driving?
Correct Answer will be - The amount of time saved by increasing your speed
Which of the following could be considered an indirect response to incentives provided by government programs offering wage subsidies to companies that hire more workers?
Correct Answer will be - Companies often hire new workers because the subsidies reduce the cost of workers
Which of the following would cause the demand curve to shift to the right in the Moscow market for Hot Pockets?
Correct Answer will be - Any of the above could shift the demand curve to the right
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Which of the following best represents the idea of the marginal cost of increasing speed while...
cording to our discussions and data from the Wall Street Journal, people in the United States...
cording to our discussions and data from the Wall Street Journal, people in the United States tend to have: 2. Ac More babies during an economic recession than would normally be expected Roughly the same number of babies during economic recessions and periods of economic growth Fewer babies during an economic recession than would normally be expected Abnormally large heads a. b. c. d. Which of the following best represents the idea of the marginal cost of increasing speed while...
1. According to economic theory, the efficient amount of pollution in the economy is the point...
1. According to economic theory, the efficient amount of pollution in the economy is the point at which: a. b. c. All your enemies have been vanquished by the amount of pollution you have produced The marginal benefit of reducing pollution further is zero The total benefits of eliminating pollution are equal to the total costs of eliminating pollution The marginal benefits of reducing pollution further are equal to the marginal costs of reducing pollution further There is no pollution...
20. From Diagram 1, a change from Point A to Point D represents a(n): increase in...
20. From Diagram 1, a change from Point A to Point D represents a(n): increase in supply A) supply decrease in B) increase in quantity supplied C) decrease in quantity supplied. D) 21. Which of the following could have caused a decrease in the price of milk? The opening of more dairy farms A) B An increase in new born babies An increase in the wages of farm workers. C) D) A decrease in the number of people willing to...
1. Which of the following is not a property of standard indifference curves in a leisure-consumption...
1. Which of the following is not a property of standard indifference curves in a leisure-consumption model? A. Indifference curves tend to be downward sloping. B. Higher indifference curves (to the northeast) indicate higher levels of utility. C. Indifference curves tend to be convex to the origin. D. There is an indifference curve passing through every leisure-consumption bundle. E. Indifference curves intersect one another. 2. What is likely to happen to the labor market equilibrium for firemen as building codes...
s Reler will happen in the long run? to Fgure 3 which shows an increasing-cost, perfectly...
s Reler will happen in the long run? to Fgure 3 which shows an increasing-cost, perfectly competitive industry in short-run equilibrium. Which of the following A. The B. The C. The D. The short-run industry E. The short-run short-run industry supply curve (S) will shift to the right, and the ATC and MC curves will shift up short-run industry supply curve (S) will shift to the right, and the ATC and MC curves will shift down. short-run industry supply curve...
What reference? Name: For each of the following events, use an AD-AS diagram to show the...
What reference?
Name: For each of the following events, use an AD-AS diagram to show the short-run and long-run effects on output and the price level (inflation rate); identify any output gap. Assume the economy starts in long run equilibrium. (1) The government reduces income taxes AS P AD (2) A decrease in consumer confidence leads to lower consumption spending AS P. AD AD-AS practice assignment.pdf 2/2 (3) The Fed decreases the money supply AS Pe K AD y* (4)...
3. Which of the following would decrease the quantity supplied of smartphones, ceteris paribus? An increase...
3. Which of the following would decrease the quantity supplied of smartphones, ceteris paribus? An increase in the price of HDTVs, assuming that smartphones and HDTVs are substitutes in production. A decrease in the number of smartphone producers. A decrease in consumer income, assuming that smartphones are normal goods. An increase in the wages of smartphone production workers. All of the changes listed for this question will decrease the quantity supplied of smartphones. 4. According to the law of supply,...
QUESTION 38 2.5 38. Which of the following describes the way in which the self-correcting mechanism...
QUESTION 38 2.5 38. Which of the following describes the way in which the self-correcting mechanism of the economy resolves the problem of a recessionary gap? a) The recessionary gap is cured by an increase in government purchases of goods and services, which implies a shift to the right of the AD curve until full employment equilibrium is reestablished. b) The unemployment associated with a recessionary gap causes wages to fall, increasing Aggregate Supply and thus shifting the AS curve...
рэкс 2 Question refer to the following diagram, which shows the market for apartment rentals in...
рэкс 2 Question refer to the following diagram, which shows the market for apartment rentals in a hypothetical clty. 1,400 Prienal parents men IN 0 40 10 20 30 Only reparton Thousand per you) d. Walch of the following events could cause the market for apartment rentals to change as shown above & The government imposes a new property tur. b. Reduced crime od better public transportation attract new residents to the city. C A large factory in the area...
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1....
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1. A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the production function. Suppose the economy's production function is Y- 75x N xK, where K- 1000 and N 20, what happens if both inputs K and N are tripled? a. Y doubles. b. Y triples. c. Y quadruples d. Y is unchanged. 2. An adverse supply shock...
cording to our discussions and data from the Wall Street Journal, people in the United States tend to have: 2. Ac More babies during an economic recession than would normally be expected Roughly the same number of babies during economic recessions and periods of economic growth Fewer babies during an economic recession than would normally be expected Abnormally large heads a. b. c. d. Which of the following best represents the idea of the marginal cost of increasing speed while...
1. According to economic theory, the efficient amount of pollution in the economy is the point at which: a. b. c. All your enemies have been vanquished by the amount of pollution you have produced The marginal benefit of reducing pollution further is zero The total benefits of eliminating pollution are equal to the total costs of eliminating pollution The marginal benefits of reducing pollution further are equal to the marginal costs of reducing pollution further There is no pollution...
20. From Diagram 1, a change from Point A to Point D represents a(n): increase in supply A) supply decrease in B) increase in quantity supplied C) decrease in quantity supplied. D) 21. Which of the following could have caused a decrease in the price of milk? The opening of more dairy farms A) B An increase in new born babies An increase in the wages of farm workers. C) D) A decrease in the number of people willing to...
s Reler will happen in the long run? to Fgure 3 which shows an increasing-cost, perfectly competitive industry in short-run equilibrium. Which of the following A. The B. The C. The D. The short-run industry E. The short-run short-run industry supply curve (S) will shift to the right, and the ATC and MC curves will shift up short-run industry supply curve (S) will shift to the right, and the ATC and MC curves will shift down. short-run industry supply curve...
What reference?
Name: For each of the following events, use an AD-AS diagram to show the short-run and long-run effects on output and the price level (inflation rate); identify any output gap. Assume the economy starts in long run equilibrium. (1) The government reduces income taxes AS P AD (2) A decrease in consumer confidence leads to lower consumption spending AS P. AD AD-AS practice assignment.pdf 2/2 (3) The Fed decreases the money supply AS Pe K AD y* (4)...
QUESTION 38 2.5 38. Which of the following describes the way in which the self-correcting mechanism of the economy resolves the problem of a recessionary gap? a) The recessionary gap is cured by an increase in government purchases of goods and services, which implies a shift to the right of the AD curve until full employment equilibrium is reestablished. b) The unemployment associated with a recessionary gap causes wages to fall, increasing Aggregate Supply and thus shifting the AS curve...
рэкс 2 Question refer to the following diagram, which shows the market for apartment rentals in a hypothetical clty. 1,400 Prienal parents men IN 0 40 10 20 30 Only reparton Thousand per you) d. Walch of the following events could cause the market for apartment rentals to change as shown above & The government imposes a new property tur. b. Reduced crime od better public transportation attract new residents to the city. C A large factory in the area...
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1. A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the production function. Suppose the economy's production function is Y- 75x N xK, where K- 1000 and N 20, what happens if both inputs K and N are tripled? a. Y doubles. b. Y triples. c. Y quadruples d. Y is unchanged. 2. An adverse supply shock...
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