C) people employed in the underground economy Factors of production and price signals. Macroeconomics is a branch of economics that deals with the structure, performance and behaviour of the overall economy. C) a change in the amounts of one good desired. A. B) discouraged workers In a market economy, who decides what goods and services will be produced? "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. B) automobile Government directives are likely to do a better job of allocating resources than markets. C) the sum of frictional unemployment and structural unemployment equals zero. 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 National income is equal to Which of the following statements uses the concept of equity to argue against the legalization of casino gambling? A) There will be an increase in unemployment. A) The federal government passes tax cuts to encourage firms to reduce air pollution. C) the loss of economic surplus when the marginal benefit equals the marginal cost of the last unit produced. D) the plastic bags that Subway purchases to wrap its sandwiches. D. A rightward shift of the curve. You have majored in computer science and, because of the recession, have difficulty in finding a job. Real domestic output is at its maximum level. E. consumers and producers. C) investment; consumption Which of the following is a microeconomics question? B. Utilizes both market and non market signals to allocate goods and services. Laws and regulations. B. Which of the following statements is false? A) at prices that violate government price regulations. If inflation is positive and is perfectly anticipated ____________ D) 5%. 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. A) Many full time workers really want to be part time workers. If a minimum wage of $15 per hour is imposed, which of the following will occur? C) GDP rises by $125. A. ; D. what will be produced; how something will be produced. A) will lower disposable income and lower spending. c. Walmart announced that it will increase its starting wage for employees to $10/hour by Feb 2016 C. Macroeconomic failure. C) below; surplus Fill in the columns for the GDP deflator and for the percent . C. Congress increased the minimum wage rate in January. All of the following events would have this effect except International economics. A) the unemployment rate increased. A. trade-off You earned $30,000 in 2007, and your salary rose to $80,000 in 2016. C. How is the production quantity of snowboards determined? Full employment is not considered to be zero unemployment, because Examples of comparative advantage show how trade between two countries can make each better off. D) the Western Trade Union. B. the government Which of the following statements about positive economic analysis is true? The market mechanism B. It focuses on areas like inflation, economic growth rate, price levels of various goods and services, gross domestic product (GDP), national income and the unemployment rate in a particular country. If inflation over the year is 2%, what is the real interest rate you are paying? C) Apple computer buys computer processors from Intel. B) 2.5% A) income B) in non-licensed shops and warehouses. D. macroeconomics. A production possibilities curve indicates the 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) the economy as a whole. D) The demand curve will shift to the left. 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. An outward shift of a nation's production possibilities frontier can occur due to Which of the following is not a durable good? A. Que10. D. Increasing opportunity costs will occur with greater tank production. D) having an absolute advantage. Report an issue. B) an increase in the unemployment rate C) the business cycle. C. There is often a tradeoff between the two. C. choices; scarce D) legalized marijuana. 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 Step-by-step explanation. B) the price level in 2016 was less than the price level in the base year. D) decrease; less. B) The tax cut would increase consumption spending more than would a permanent tax cut. C) raise taxes by $200 billion. A. D) real GDP in 2016 was greater than real GDP in the base year. D) The demand curve for traditional camera film shifts to the left. B) Consumer efficiency A) the supply curve shifted to the left resulting in an increase in the equilibrium price. You will then have 50 minutes to answer all three of the following questions. The system that a society chooses reflects the philosophical and political ideas on which that society is founded. Use the supply schedule below to answer the following question: Price $10 $20 Quantity Supplied 100 This problem has been solved! B) -3.5% D. The government is allocating resources inefficiently. A) decrease the required reserve ratio. Which of the following economic activities are included in the subject-matter of Economics? B. D. the choices people make to attain their goals, given their scarce resources. A) the law of supply has been violated. [Questions] Mains Marathon I Daily Answer Writing I Feb 28th, 2023. D) the wages of college graduates do not fall during recession. B. (Round percentages to one decimal place.). A. Maximum combinations of goods and services an economy can produce given its available resources and technology. In terms of the production possibilities curve, inefficiency is represented by What kind of unemployment is Sarah experiencing? Suppose real GDP is $12.6 trillion and potential GDP is $12.4 trillion. Your grandfather tells you that he earned $7,000/year in his first job in 1961. b. B. firm could more readily exploit. Which of the following is/are functions of Department of Economic Affairs under Ministry of Finance? D) They are included only if they are imported, Which of the following are not considered part of government purchases? Assume that a hypothetical economy is at long-run macroeconomic equilibrium with full employment and stable prices. B) far less difficult than with monetary policy. B) The supply curve will shift to the right. A. how households and firms make choices. Then compare your responses with the key at the end of the book. Should you go back to school and get a second major? Profit opportunities are eliminated almost instantaneously a. margin of safety. Solve homework. 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 E. pure profit. C. The market mechanism has failed to achieve social efficiency. b. a. Microeconomics D. People should not buy imported fruits and vegetables. C. Maintaining a strong level of economic growth. b. select the best possible solution. D. Price regulation by government. B. C) Every individual, no matter how rich or poor, is faced with making trade-offs. C. Opportunity cost. Refer to the above diagram. A) those that borrow money lose. A. achieve full employment. A. The nominal GDP of the U.S. in 2015 was approximately $17.3 trillion. C. All points inside the curve. Which of the following would be included in the gross domestic product for 2016? The correct answer is C. Explanation: Macroeconomics tries to know and measure an economy goes, how well it is performing. Which of the following is a positive macroeconomic statement: a. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. B) an increase in government spending A: Globalization Globalization can be depicted as an interaction by which individuals of the world are Q: A firm in a perfectly competitive market faces a market price of $80, and has a total cost function: A: Introduction We have given a perfectly competitive market. D) ice cream is a normal good and hot fudge is an inferior good. B) the value of the house in 2003 B) below the market wage, causing labor demand to be less than labor supply. A) increasing government purchases or decreasing taxes. A) 5 times as much as your grandfather in terms of real income. How consumers make purchasing decisions c. Inflation, unemployment, and economic growth d. Final decision making A C. Maximum combinations of goods and services an economy can produce given unlimited resources. C) 6.67%. a. c. Florida should devote all revenues from its state lottery to improving public education The level of inflation in the economy. D) discretionary fiscal policy; conscious fiscal policy. The price of steel declined by 3% last year. B. B) the sum of consumer and producer surplus. The market mechanism may best be defined as D) A drug dealer reports herself as unemployed. i. Which one of the following is the objective of fiscal policy? c. It eliminates the need for abstraction or simplification A. B) Trade Without Borders. C) decrease in demand; decrease in quantity demanded B) higher; lower B. C) by the same amount as All points on the curve. B) government spending and taxes that automatically increase or decrease along with the business cycle. D) decreases; decreases. A) inflation B. a nation's poverty level increases faster than its population. Compared to their pre-trade positions, trade makes both countries better off because in each country The ability to exercise control over one's own resources within the confines of the law refers to This situation will most likely coincide with high unemployment. A) The demand curve for inkjet printers shifts to the right. A) some cyclical unemployment always exists. C. unlimited resources exceed limited wants. C) looking for work is your only option. B) will raise disposable income and lower spending. B) the value of the time spent on line. How has the discovery of oil in the Niger delta affected Nigeria's environment? Que11. a. An economy is at equilibrium output when A. Y = C + I + G+ NX B. Y = AD + C + G + NX An increase in national defense implies more sacrifices of civilian goods and services. During a business cycle expansion, total production ________ and total employment ________. A) inflation. Which of the following causes the unemployment rate to understate the true extent of joblessness? C) the demand for lawn care service has decreased. 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 _______________ D) the unemployment rate consists of only frictional and structural unemployment. C. Production managers are more concerned with satisfying government's orders than with satisfying consumer wants. A. producing more of one good means less of another good can be produced. c. Falls victim to "post hoc, ergo propter hoc." B) productive efficiency Investment, as defined by economists, would not include which of the following? The output of U.S. citizens who work in Canada would be included in the _____________ 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. The Bureau of Labor Statistics would categorize a person as ________ if they were temporarily away from their job because they were ill The term economic system refers to the way in which a society organizes the production and distribution of good and services. A graph that contains two variables with a negative relationship is _________, while a graph that contains two variables with a positive relationship is _________. What is the current national rate of unemployment? C) The quantity of traditional camera film demanded increases. C) the ACIF. 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. On which base structure of economic problems has been installed? C) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States. D) a bridge purchased by the state government. The conclusion of this statement: B. the idea that the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies. D) Sarah is not experiencing unemployment of any kind, because she is not currently part of the labor force. B. A) Tuan purchases a cappuccino at the student union. (C) how individual markets work. Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy? If market signals result in pollution beyond the optimal level, then D) increase all of the monetary flows. B. B) total consumption of goods is greater. Suppose that nominal GDP in 2016 was less than real GDP in 2016. If, in response to a decrease in the price of coffee, the quantity of coffee demanded increases, economists would describe this as_______ A. A) the price level in 2016 was greater than the price level in the base year. Macroeconomics Basics. B) gross national product of Canada. A) the money supply and a decrease in interest rates. What is the probability that they all will be late? What goods and services to producehow will these goods and services be produced; and who receives them? Automatic stabilizers refer to A technological advance would best be represented by b. Economists reason that the optimal decision is to continue any activity up to the point where the. The size of the underground economy would tend to increase if the government of a country ________________ B) discretionary fiscal policy; automatic stabilizers A) he lettuce that Subway purchases for its sandwiches B) adds 1,000 new cars to inventories. A) falls; Marla's work takes place in the underground economy once she's married Mike has been unemployed for over a year. Expert Answer Option b deals with a microeconomi View the full answer Transcribed image text: Which of the following is NOT a macroeconomic question? a. B. marginal benefit equals the marginal cost. c. Opportunity costs are zero Household income A. C) more difficult than with monetary policy. 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 C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. D) building an online job database that helps workers find jobs. C) a decrease in the unemployment rate Question: Which of the following is an illustration of a macroeconomic question? When governments are borrowers in financial capital markets, which of the following is least likely to be a possible source of the funds from a macroeconomic point of view? How many airlines will be late in one month? 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. The automobile industry was experiencing the effects of _______ D) $200. C. when something will be produced; why something will be produced C) decrease; more B) What determines the production of video game consoles? Which of the following is a macroeconomics question? D) an increase in the working-age population. D. Allocative efficiency. What determines the growth rate of gross domestic product? The company allocates indirect costs based on the following activities: EstimatedEstimatedQuantityActivityCostAllocationBaseofAllocationBaseAdmission$60,000Numberofadmissions20,000Cleaning240,000Cleaningdirectlaborhours100,000Grooming80,000Groomingdirectlaborhours4,000Totalindirectcosts$380,000\begin{array}{lclc} Combinations of production that are unattainable, given current technology and resources. d. It is an example of the fallacy of composition, The field of economics that deals primarily with the factors that determine wage rates, employment, and unemployment is called: A. Determine the following. There is full employment. B) unattainable What were the macroeconomic principles or models that influenced your decision making?] C) wages paid to employees by Dell. D. \textbf{\hspace{10pt}Activity}&\textbf{Cost}&\hspace{20pt}\textbf{Allocation Base}&\textbf{of Allocation Base}\\ Should the government attempt to influence the interest rate to lower inflation? C. The money you spent on tuition for the class. C) falls; Marla's architectural design services are no longer bought by Chuck once they're married Macroeconomics is a branch of economics that depicts a substantial picture. C) The demand for video game consoles would decrease because consumers could afford to buy fewer LCD televisions and video game consoles. C. An increase in national defense is possible only if we produce more butter. C. For whom should goods and services be produced? The "guns versus butter" dilemma that all nations confront is that A) The supply of video game consoles would increase and the equilibrium price of video game consoles would decrease. E-Normative, One of the scarce resources that constrain our behavior is time. As a result, _____________ D. The best alternative use of your time. Zero because you knew when you registered for the class that studying would be required. D) decreasing the money supply and increasing interest rates.
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which of the following would be a macroeconomic question?