Essay about Eco 561 Final Exam Free - 1423 Words

ECO 561 Final Exam w/ corrected answers 1) Suppose that in the clothing market, production costs have fallen, but the equilibrium price and quantity purchased have both increased. Based on this information you can conclude that A. the supply of clothing has grown faster than the demand for clothing [B. demand for clothing has grown faster than the supply of clothing] C. the supply of and demand for clothing have grown by the same proportion D. there is no way to determine what has happened to supply and demand with this information 2) Camilles Creations and Julias Jewels both sell beads in a competitive market. If at the market price of $5, both are running out of beads to sell (they cant keep up with the quantity†¦show more content†¦A perfect competition 15) Investing in Ramp;D is more likely to occur in markets where A. firms have monopoly power protected by regulatory barriers B. markets are closely competitive markets with close to zero economic profits [C. markets are oligopoly markets with strong collusion agreements] D. markets are monopolistic competitive markets 16) All economies of scale are achieved at the minimum of [A. average total cost] B. total cost C. average variable cost D. average fixed cost 17) Inflation is undesirable because it [A. arbitrarily redistributes real income and wealth] B. invariably leads to hyperinflation C. usually is accompanied by declining real GDP D. reduces everyone’s standard of living in the same proportion 18) An economy’s aggregate demand curve shifts leftward or rightward by more than changes in initial spending because of the A. net export effect B. wealth effect C. real-balances effect [D. multiplier effect] 19) Suppose productivity rises in a particular economy, but wages stay the same. Other things equal, A. the demand curve will shift leftward [B. the supply curve will shift rightward] C. the supply curve will shift leftward D. expenditures curve will shift rightward 20) If personal taxes were decreased and resource productivity increased simultaneously, the equilibrium [A. output would rise] B. output would fall C. price level would necessarily fall D. price levelShow MoreRelatedProject Mgmt296381 Words   |  1186 Pages in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 WVR/WVR 0 9 8 7 ISBN 978-0-07-340334-2 MHID 0-07-340334-2 Editorial director: Stewart Mattson Publisher: Tim Vertovec Executive editor: Richard T. Hercher, Jr. Developmental editor: Gail Korosa Associate marketing manager:Read MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pages563 Summary and Implications for Managers 566 S A L Self-Assessment Library How Much Do I Know About Human Resource Management (HRM)? 544 glOBalization! Performance Appraisal Around the World 558 An Ethical Choice Recruiting the Unemployed 561 Self-Assessment Library How Good Am I at Giving Performance Feedback? 563 Myth or Science? â€Å"Work Is Making Us Fat† 564 Point/Counterpoint Social Media Is a Great Source of New Hires 567 Questions for Review 568 Experiential Exercise Evaluating PerformanceRead MoreMedicare Policy Analysis447966 Words   |  1792 Pagesincome individuals. Excise tax on medical devices. Expansion of information reporting requirements. Delay in application of worldwide allocation of interest. PART 2—PREVENTION OF TAX AVOIDANCE rmajette on DSK29S0YB1PROD with BILLS Sec. 561. Limitation on treaty benefits for certain deductible payments. Sec. 562. Codification of economic substance doctrine; penalties. Sec. 563. Certain large or publicly traded persons made subject to a more likely than not standard for avoiding penalties