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

B) the value of the decrease in business inventory stocks. It is an example of the post hoc fallacy B. A. D) decrease; less. c. The alternative uses of time you spend studying The difference between microeconomics and macroeconomics is that microeconomics analyzes the decisions made by _________, while macroeconomics deals primarily with _____________. (b) 81,54,36,81,54,36, \ldots81,54,36,. D) increase all of the monetary flows. D) building an online job database that helps workers find jobs. B) portray reality in all its minute details. B) The supply curve will shift to the right. You have majored in computer science and, because of the recession, have difficulty in finding a job. there is a capital account surplus. A pair of shoes that costs $80 last month costs $100 this month. C. Inefficient incentives. B. 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. Which of the following is/are functions of Department of Economic Affairs under Ministry of Finance? Which of the following is not a factor of production? Start. The conclusion of this statement: B. Capital, as economists use the term, refers to. D) the firm will not change supply until it knows for certain what will happen to its price. D. Government intervention. A black market is a market where buying and selling take place B. C. Maintaining a strong level of economic growth. B. 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.. A sharp rise in the price of vegetables. A. Deadweight loss refers to Voluntary exchange Choices made by people faced with scarcity b. A. D. All of the choices are correct. The Federal Aviation Administration is considering increasing the number of takeoff and landing slots available at Ronal Reagan Washington National Airport The income effect of a price change results in a _________ A) those that borrow money lose. Key Takeaways. Government intervention may achieve a more optimal outcome than the market mechanism when addressing D) a decrease in the quantity supplied. Q. D. Higher opportunity costs induce higher output per unit of input. Explain the pitfall of this statement. B) a natural disaster like a hurricane or bad earthquake. The money-creating potential in the banking system in the given case is computed as follows: The four basic economic questions are: what goods to produce, how to use resources in the production process, who receives the finished goods and when to produce the goods. C. society's output cannot be made available to all. D) only change GDP if the development occurs within the borders of the United States. With respect to factors of production, which of the following statements is not true? B. net benefit How consumers make purchasing decisions c. Inflation, unemployment, and economic growth d. Final decision making A A) during a deep recession. C) 3% A) personal income minus personal taxes. Which of the following is a microeconomics question? b. d. All of the above B. B. In the first half of 2011, automobile sales in the United States were lower than they were in the first half of 2010. A) he lettuce that Subway purchases for its sandwiches D) incorporates substitutions by consumers when prices of specific products fall rapidly. What is Macroeconomics? Greater production means factor prices rise. C) there are not enough jobs for everyone who wants one. Prelims Marathon - Economic Survey - February 28th - 2023. Each of us only has 24 hours in a day, and we must allocate our time in a given day among competing alternatives. A shift inward of the production possibilities curve. B. A) lower government purchases by an amount less than $200 billion. D. a country's population is larger than its resource base. b. C) increasing the money supply and decreasing interest rates. Which of the following statements uses the concept of equity to argue against the legalization of casino gambling? C) The demand curve will shift to the right. D. some people live better than others do. True 3Government fixes the floor and ceiling . Public economics The invisible hand at work. A) real GDP d. Unemployment is too high. The market mechanism. C) lower; higher of mental institutions) and ___________ (movement B) will raise disposable income and lower spending. the same weight of goods has been imported as were exported. The tax cut would lower the price level in 2014. D) Deadweight efficiency, When ________ in a market, the total net benefit to society is maximized. C. Theme park construction. 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. 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. 9 Questions. a) A French resident buys a Volkswagen car produced in Wolfsburg, Germany. E) Discouraged workers are counted as unemployed. D. what will be produced; how something will be produced; ________ is a situation in which a good or service is produced at the lowest possible cost. D) a bridge purchased by the state government. known as ___________ Mental illness is a(n)___________ concept, typically (c). D) on foreign soil. D. A movement from the production possibilities curve to a point inside the production possibilities curve. D) taxes. The unemployment rate for the United States rose to 5 percent in the last quarter. D) an increase in the working-age population. 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. C) Apple computer buys computer processors from Intel. A) The supply curve will shift to the left. Macroeconomics is focused on the movement and trends in the economy as a whole. The economy has gone into a recession. B) The demand for video game consoles would decrease and the equilibrium price of video game consoles would decrease. B) price charged for laptop computers by Dell. C. do have an economic problem but are solving it. Th View the full answer Question 02. Works through central planning by government. Government agencies. Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. D. marginal costs Keynesian economics says that: (a) workers are paid for their ability to work, not for the value of what their labor creates. B. C) increased income tax rates. Ask an Expert. Profit opportunities are eliminated almost instantaneously B) consumption; investment A) frictional unemployment A. Preparation and presentation of Budget for state governments under President's Rule 3. (B) important rather than trivial issues. If market signals result in pollution beyond the optimal level, then B) structural C) the value of all cars produced by Toyota in the United States The ________ production points on a production possibilities frontier are the points along and inside the production possibilities frontier. A) the money supply and interest rates that automatically increase or decrease along with the business cycle. The economic term for the costs associated with negotiating and enforcing a contract is a. opportunity costs. Cadre Management for Indian Economic Services Microeconomics is the study of A) The demand curve for inkjet printers shifts to the right. The term "market" in economics refers to ______________. 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 C) decrease oil prices. A production possibilities curve indicates the By how much and in what direction does GDP change as a result of his efforts? B) decrease government spending. 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 For below problem geometric sequence given write the next three terms. b. It allows researchers to isolate the effect of one event on another without the influence of outside variables c. It considers part-timers as employed, and hence it is understated. 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 Need the goods and services the most. a. Is the value of the alternative use of the time you spend of playing this game In the United States in 2013, the Bureau of Economic Analysis began counting spending by firms and individuals on developing entertainment products as investment. A. C) an autonomous; an induced Zero because you knew when you registered for the class that studying would be required. B) total income in 2015 was around $17.3 trillion. Households and firms; the economy as a whole, T/F Resources are limited in both wealthy and poor societies, All of the following are criteria frequently applied in judging economic outcomes except, Economics is best defined as the study of, The most common method for graphing the relationship between two variables is by drawing two __________ lines, where the __________ is a horizontal line and the __________ is a vertical line. D) Lily purchases a new massage table for use in her therapy center. Allocative efficiency best explains ________, and productive efficiency best explains________. Chuck is paying Marla $150 per hour to design his new home. B. B. B) the nominal interest rate minus the inflation rate. Inefficient bureaucracy. B) the supply curve shifted to the left resulting in a decrease in the equilibrium price. Which of the following is a normative economic statement? What determines the salaries of Wall Street executives? b. real costs. C) incorporates substitutions by consumers when prices of specific products rise rapidly. Every society faces economic trade-offs. A) When will the government better secure the borders? b. D) decreasing the money supply and increasing interest rates. C) decrease in demand; decrease in quantity demanded Microeconomics focuses on supply and demand . ; D. what will be produced; how something will be produced. Choose 1 answer: Hors many smartphones should Samsung produce this quarter? D. A rightward shift of the curve. C) ice cream and hot fudge are normal goods. D. The government is allocating resources inefficiently. C. The government should subsidize solar power for homeowners. How does a market system prevent people from getting as many goods and services as they wish? B. A. 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?" It is the field of economics that studies the behavior of the entire economy. C) implementing an unemployment insurance policy Which one of the following is the objective of fiscal policy? The use of market signals and government directives to select economic outcomes. (d). C) The quantity of traditional camera film demanded increases. Thus we can say that it is that part of economic theory which studies the economy in its totality or as a whole. Dear Friends, We are posting prelims marathon MCQs for today. Production possibilities curve will shift outward. D) will raise disposable income and raise spending. C) Corporate income taxes; excise and other taxes C) What factors determine the price of Oreo cookies? 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 ________ D) more than complete, A tax rebate, like the one issued in 2008, is likely to ________ consumption spending ________ than would a permanent tax cut. Which of the following is an example of spending on factors of production in the circular flow model? C) a change in the amounts of one good desired. A. D) gross national product of Canada and the gross national product of the United States. there is a current account surplus. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. What is the probability that they all will be late? Question 20. Posted on February 28th, 2023 Last modified on February 28th, 2023 Comments. C) below; surplus B) the federal income tax. C) the demand for lawn care service has decreased. Select the phrase that correctly completes the following statement. A) Starbucks purchases coffee beans. A devaluation of the U.S. dollar would increase exports from the United States B) government spending and taxes that automatically increase or decrease along with the business cycle. 1 #7. B. D) about the same difficulty as with monetary policy. C) risen; risen D. all of the above Answer: D.all of the above 2. C) downward sloping. Suppose that nominal GDP in 2016 was less than real GDP in 2016. c. The price of gasoline A ________ can change over time or across observations. Should Congress and the president take action to reduce global warming? A) -3%. (C) how individual markets work. D. Competition, Consider the following economic agents: A. C) more difficult than with monetary policy. B) automobile A. producing more of one good means less of another good can be produced. C) wages are higher. B) a union contractor whose pay is adjusted based on changes in the CPI D) out of the labor force. Explore the definition and types of economics including microeconomics and macroeconomics and. He hasn't looked for a job in the last three months, but he's just started looking for work again. B) made over-the-counter drugs illegal. CONCEPT Equilibrium The government will probably implement expansionary macroeconomic policies. D) refrigerator. A. If the ________ cost of production for two goods is different between two countries then mutually beneficial trade is possible. A) taxes; interest rates A. What are the differences and similarities between behaviorism, psychodynamic, and humanistic perspectives? A) the nominal interest rate plus the inflation rate. B. microeconomics. meaning severe emotional or thought disturbances B) Yes, the recession will lower income in my field permanently. D. What goods and services should we produce? Profitability b. B) the underground economy. Step-by-step explanation. C) clothing C) the value of the addition to the capital stock. although this definition differs from state to state. C) Producer efficiency This situation will most likely coincide with high unemployment. A) $5. C. choices; scarce c. Labor economics C) decrease. Government directives are likely to do a better job of allocating resources than markets. A) the supply curve shifted to the left resulting in an increase in the equilibrium price. Government failure. D) the unemployment rate consists of only frictional and structural unemployment. Your survey tells you that, out of 15 airlines, 80% of them are likely to be late at least once a month. b. Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. b. Report an issue. A) nondurable goods; durable goods Should you go back to school and get a second major? PetSmart even offers a Top Dog service that includes a premium shampoo, milk bath conditioner, scented cologne spritz, teeth brushing, and a bandana or bow. A. The purchasing. B) an increase in the number of manufacturers of electric cars. A technological advance would best be represented by If a firm expects that the price of its product will be lower in the future than it is today b. Which of the following best describes an assumption economists make about human behavior? D) the value of the services of the real estate agent, Which of the following goods is directly counted in GDP? Economics promotes which of the following as the way to make the best decision? D) Japan has abundant supplies of natural resources needed to produce automobiles. Use the supply schedule below to answer the following question: Price $10 $20 Quantity Supplied 100 This problem has been solved! Household income C) Toby buys a new lawn mower to use in his lawn care business. Step-by-step explanation. A) automatic stabilizers. A) an induced; an autonomous To Liza, A) the price level in 2016 was greater than the price level in the base year. B) $60. D) ice cream is a normal good and hot fudge is an inferior good. Which of the following statements is false? B) remain the same. Which of the following is not a macroeconomic statement? If the price level rose in three consecutive years from 100 to 120 to 140, then the annual inflation rate over those years would ________ C) 1.5% D) the payroll tax. A) inflation. The invisible hand refers to B) falls; Marla's work becomes less valuable once she's married Factors of production and price signals. 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. Fill in the blanks: (International Balance of Payments accounting) _ Accounts are the transfer of money/wealth that occur between countries but hope to create future revenue. Microeconomics answers - Micro Summary exam 1 questions and answers microeconomics exam which of the following is macroeconomics question a:how much would math. Which of the following is an example of spending on goods and services in the circular flow model? A. public economics. 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. Aggregate unemployment B. how to make money in a market economy. D) producer surplus is minimized. C) the value of the house in 2016 minus depreciation D) the level of technology is fixed and unchanging. In a market economy, the people who receive the goods and services that are produced are those who When Chuck and Marla get married, Marla continues to work on designing the home, but she no longer charges Chuck for her work. Where in Oceania are outrigger canoes used? C) the price of sailboats increased and the quantity of sailboats demanded decreased." C) a decrease in the price of lithium, which is used in the electric car batteries. Depreciation is _________ B) The quantity of traditional camera film demanded decreases. b. Caveat emptor A grocery store sells a bag of potatoes at a fixed price of $2.30. Explain how these higher income taxes will affect the aggregate demand curve. An increase in national defense implies more sacrifices of civilian goods and services. Deflation occurs when ____________ b. A) a demand curve has shifted to the left. Chapter 6, P R O B L E M S E T 3 . The phrase "demand has increased" means that ___________ A) increase in demand; decrease in demand B) explicit Scarce resources and opportunity cost. B) The tax cut would increase consumption spending more than would a permanent tax cut. B) below the market wage, causing labor demand to be less than labor supply. B) There is much less disagreement among economists over normative economic analysis than over positive economic analysis. D. Is one that allows trade with other countries. B. Discretionary fiscal policy refers to the government's ability to spend money. A. occurred. The market mechanism. How much will be saved; what will be produced; and how can these goods and services be fairly distributed? Despite the Obama administration's support of the Trans-Pacific Partnership (TPP), the AFL-CIO labor union has argued that the TPP will not B. the idea that the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies. Macroeconomics is a branch of economics that depicts a substantial picture. Which one of the following is a macroeconomic issue? How do you go about weighing the alternatives? Microeconomics is the study of a single unit or a single firm whereas the macroeconomics is.. (a). An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue. The real rate of interest is ______________ B. D) 5%. bi tp eco question points): given the following annual information about hypothetical country, answer the following questions (expenditure approach to gdp) Skip to document.