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

C) The demand for video game consoles would decrease because consumers could afford to buy fewer LCD televisions and video game consoles. A. A. consumers dictating to firms what they need most. a. d. It allows researcher to analyze the effect of all potential influences on a particular event, Which of the following is not listed in the book as a reason to study economics? known as ___________ Mental illness is a(n)___________ concept, typically A. why something will be producedwhat will be produced Explain. Should you go back to school and get a second major? B) the federal income tax. Administrativeexpenses. Totaloperatingexpenses Incomefromoperations. Otherincome.. Incomebeforeincometax.. Incometaxexpense.. Netincome. David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Intro to Microeconomics (First Exam) (Chapter, Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. a. the government 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. Market failure. B) explicit 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. This month, the company supplied the same quantity of binders at $4 per unit. Maximum combinations of goods and services an economy can produce given its available resources and technology. These firms are reacting to which of the three key economic ideas? Capital, as economists use the term, refers to. B) discretionary fiscal policy; automatic stabilizers D) The purchasing power of your salary increased between 2007 and 2016. What goods and services to produce; how will these goods and services be produced; and who receives them? c. Will a new type of electronic reader or tablet increase the number of buyers? Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments. D) seasonal unemployment, Structural unemployment is the result of ____________ (B) important rather than trivial issues. D) Brazil's GNP. MACROECONOMICS FREE-RESPONSE QUESTIONS MACROECONOMICS Section II Total Time1 hour . A. C) a tank purchased by the federal government B. producers deciding what society wants most. B) movement along the demand curve due to a change in relative prices. If Congress passed a one-time tax cut in order to stimulate the economy in 2014, and tax rate levels returned to their pre-2014 level in 2015, how should this tax cut affect the economy? ________ increases economic efficiency because it forces firms to produce and sell goods and services as long as the additional benefit to consumers is greater than the additional cost of production. A) marginal B) a union contractor whose pay is adjusted based on changes in the CPI c. Labor economics a) A French resident buys a Volkswagen car produced in Wolfsburg, Germany. B) teachers' salaries paid by a local government The production possibilities curve between tanks and automobiles will appear as a straight line. D) equal 20%. Macroeconomics is the branch of economics that deals with: (A) the prices of individual goods. B) high unemployment rates do not usually last for very long. a. D. The best alternative use of your time. A decrease in input costs in the production of LCD televisions caused the price of LCD televisions to decrease. D. constant opportunity costs as more and more of one good is produced. C) The demand curve will shift to the right. D) producer surplus is minimized. They always call for opposite outcomes. \end{array} Is way of analyzing decision-making processes caused by scarcity C. the tendency of many economic variables to move together in a predictable way over the business cycle. Intervention in the economy by the government bureaucrats we do not see and over whom we have no control. The decrease in auto sales impacts GDP because new automobiles are counted as ________ when purchased by households and ________ when purchased by businesses. Answering these four questions is essential for an economy to function properly. Upon your graduation from college, you find that the economy is in recession and the unemployment rate is relatively high. c. The price of gasoline In terms of the production possibilities curve, inefficiency is represented by Que10. E-Normative, One of the scarce resources that constrain our behavior is time. (b) the level of aggregate demand determines production, employment,. How many airlines will be late in one month? ii. b. A. income; available a. D. give more money to the government to solve its problems. Given this information, we know for certain that ________ C. Want the goods and services the most. C) will lower disposable income and raise spending. B) The purchasing power of your salary fell between 2007 and 2016. A. producing more of one good means less of another good can be produced. Posted on February 28th, 2023 Last modified on February 28th, 2023 Comments. B) Persons who collect unemployment benefits report themselves to be searching for a job. C) not change GDP. Should the government attempt to influence the interest rate to lower inflation? 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? Equity Which of the following is not a durable good? C) GDP rises by $125. 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. C. An increase in national defense is possible only if we produce more butter. b. D) a slowdown in the economy. A) U.S. GDP. There are no problems and everyone, including consumers, is satisfied. B) will raise disposable income and lower spending. Microeconomics is the study of a single unit or a single firm whereas the macroeconomics is.. (a). Which of the following is the best example of land? Bureaucratic delays What is the standard deviation of this random variable (i.e., the risk of being late)? D) the value of all cars produced by Nissan in Japan and the United States. The opportunity cost of taking an on-line history class is A. The market mechanism at work. C. choices; scarce 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. D) out of the labor force. D) 15%. C. The process by which the production possibilities curve shifts inward. C) investment; consumption D) They are included only if they are imported, Which of the following are not considered part of government purchases? Opportunity cost A) at prices that violate government price regulations. A. D) sometimes by more than and other times by less than, A change in consumption spending caused by income changes is ________ change in spending, and a change in government spending that occurs to improve roads and bridges is ________ change in spending Flow (1) represents: A) wage, rent, interest, and profit income. D. People should not buy imported fruits and vegetables. Simple economies can be described in terms of three major economic flows. C) a full-time employee at a pizza parlor who makes more than the minimum wage Question: Question 21 Which of the following exemplifies a macroeconomic question? Suppose real GDP is $12.6 trillion and potential GDP is $12.4 trillion. The Federal Reserve lowered interest rates at its last meeting. A. B. marginal benefit equals the marginal cost. C) discretionary monetary policy. If inflation over the year is 2%, what is the real interest rate you are paying? B. Commits the fallacy of composition D) The "Lucky Ducky" casino buys a new crabs table for the casino floor. Inefficient bureaucracy. D) about the same difficulty as with monetary policy. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. If market signals result in pollution beyond the optimal level, then 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 A grocery store sells a bag of potatoes at a fixed price of $2.30. C) $140. C) the loss of economic surplus when the marginal benefit equals the marginal cost of the last unit produced. Poorly timed discretionary policy can do more harm than good. D) quantity of Dell employees. C. Optimal marginalism Deflation occurs when ____________ A) the knowledge and enjoyment you receive from taking the class. All points outside the curve. C) the economic surplus received from purchasing a given quantity of a product. C) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States. Macroeconomics, as opposed to microeconomics, includes the study of what determines the ____________ Which of the following is a macroeconomics question? D. There is no conflict between the two goals. Math is a way of solving problems by using numbers and equations. D. macroeconomics. A) The supply curve will shift to the left. A pair of shoes that costs $80 last month costs $100 this month. 1. According to the text, economists consider full employment to occur when This means. B) frictional unemployment equals zero. A) GDP rises by $1,875. A. negative because it may improve your grade. Timer Bonus. C) There is much more disagreement among economists over positive economic analysis than over normative economic analysis. D. The government is allocating resources inefficiently. A. trade-off B) structural Which of the following best defines economics? C) Every individual, no matter how rich or poor, is faced with making trade-offs. a. margin of safety. D) the value of the services of the real estate agent, Which of the following goods is directly counted in GDP? C. income, saving and . A. C. decreasing opportunity costs as more and more of one good is produced. This problem has been solved! b. The money-creating potential in the banking system is simply the amount of new money that can be created using the excess reserves of the bank. B) total consumption of goods is greater. All of the following are criteria frequently applied in judging economic outcomes except a. To understand society and global affairs D) unemployed persons falsely report themselves to be actively looking for a job. B) Chester buys a first-class ticket from Atlanta to London for his long-awaited vacation. C) NAFTA. d. Eliminating the trade embargo with Cuba would increase the number of Cuban cigars available in the United States C) ice cream and hot fudge are normal goods. According to a deputy commissioner of police, "Commerce does very little of what we recommend. B. the global economy. The Bureau of Economic Analysis calculates a number of different measures of inflation: the GDP Deflator, the Consumer Price Index, the Wholesale Price Index, etc. A sharp rise in the price of vegetables. c. It considers part-timers as employed, and hence it is understated. C. Greater production of one good requires increasingly larger sacrifices of other goods. A) The demand curve for traditional camera film shifts to the right. B. B) The tax cut would increase consumption spending more than would a permanent tax cut. A) cyclical B) by more than c. functional costs. The production possibilities frontier model assumes all of the following except____________ Because Mike started looking for a new job ______________ D) the same whether the tax is collected from the buyer or the seller. B. C) those that hold paper money lose. C. when something will be produced; why something will be produced It allows researchers to isolate the effect of one event on another without the influence of outside variables Technological progress has made it possible for firms such as Apple and Alivecor to develop small electronic devices, including smartwatches, smartphones, and products that can be attached to the smartwatches and smartphones, to serve consumers who have become more health conscious and wish to monitor various health conditions. that negatively affect an individuals health and safety, Which of the following would be classified as fiscal policy? Which assumptions do you need to make in order to be correct in considering a binomial distribution for your variable? B. D. all of the above Answer: D.all of the above 2. A) 5 times as much as your grandfather in terms of real income. A) a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs. D) The government imposes taxes on those who earn beyond a certain amount of income. D) All of the above will occur. c. producers P = $80 In perfect competition, P = AR = C. unlimited resources exceed limited wants. B) those that lend money lose. C) falls; Marla's architectural design services are no longer bought by Chuck once they're married A technological advance would best be represented by The first stage in the five-step decision process described in the text is to a. define the problem. C) No, the recession will most likely be short-lived and I can get a job after it is over. How were consumption and investment affected . D. Macroeconomics focuses on the performance of (b). You have majored in computer science and, because of the recession, have difficulty in finding a job. The ________ production points on a production possibilities frontier are the points along and inside the production possibilities frontier. 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. Depreciation is _________ What determines the growth rate of gross domestic product? C. The government should subsidize solar power for homeowners. C) 3% All of the following events would have this effect except The result is a shift in the aggregate demand curve to the left. A) the value of leisure is included in GDP. The phrase "demand has increased" means that ___________ A) ice cream and hot fudge are complements. A) the price level in 2016 was greater than the price level in the base year. If a minimum wage of $15 per hour is imposed, which of the following will occur? Answer the following questions by selecting the appropriate answer from the list below. D. Scarcity. When Chuck and Marla get married, Marla continues to work on designing the home, but she no longer charges Chuck for her work. A) change; overestimates B) $60. Then compare your responses with the key at the end of the book. B) falls; Marla's work becomes less valuable once she's married A) by less than b. Posted on March 1st, 2023 Last modified on March 1st, 2023 Comments. The company allocates indirect costs based on the following activities: EstimatedEstimatedQuantityActivityCostAllocationBaseofAllocationBaseAdmission$60,000Numberofadmissions20,000Cleaning240,000Cleaningdirectlaborhours100,000Grooming80,000Groomingdirectlaborhours4,000Totalindirectcosts$380,000\begin{array}{lclc} A: Macroeconomics is that branch of economics in which we study the economic problem and issues at a. B) relative abundance of labor and capital. B. still have an economic problem. B) total income in 2015 was around $17.3 trillion. C. How is the production quantity of snowboards determined? A) shift of the demand curve when income changes. the person is unable to care for himself or herself, also D. What goods and services should we produce? Combinations of goods and services an economy is actually producing. Step-by-step explanation. International economics. Suddenly, the stock market prices increased much more than expected, increasing investors' wealth and causing a short-term period of increased optimism about the future of the economy. Question 1: Multiple Choice Which of the following does macroeconomics endeavor to answer? A) during a deep recession. Its objective is to understand which kind of forces drive it, and with the information collected try to project how performance can improve. C) decrease in demand; decrease in quantity demanded C) decrease the number of persons in the labor force. An oligopolistic industry consists of only two firms, Angel& You will then have 50 minutes to answer all three of the following questions. is a corporation unresponsive to the demands of its customers? In the market for lettuce, A) the opportunity cost to firms from producing the equilibrium quantity in a competitive market. B) add to GDP. To Liza, A) increase; more Explore the definition and types of economics including microeconomics and macroeconomics and. Which of the following is an example of spending on goods and services in the circular flow model? a. D. The person who has the responsibility to coordinate all the markets in a market economy. The difference between microeconomics and macroeconomics is that microeconomics analyzes the decisions made by _________, while macroeconomics deals primarily with _____________. d. Public economics. 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 not a factor of production? D) below; shortage. B) The demand for video game consoles would decrease and the equilibrium price of video game consoles would decrease. Automatic stabilizers refer to D) real GDP in 2016 was greater than real GDP in the base year. C. maintain equilibrium in the Balance of Payments. D) the nominal interest rate. A) some cyclical unemployment always exists. Which of the following events would allow the production possibilities curve to shift outward? Which of the following is a positive economic statement? Which of the following transactions would be recorded in the French current account of its balance of payments statistics? B) there has been an upward movement along a demand curve. Why has the unemployment rate been nearly twice as high in Europe as in the United States in recent years?