Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Assignment

1) On an aggregate demand and aggregate supply graph, the stagflation of the 1970s can be represented as a

a. leftward shift of the aggregate supply curve

b. rightward shift of the aggregate supply curve

c. rise in the price level that caused an excess demand for output

d. rightward shift of the aggregate demand curve

e. decrease in the price level that caused an excess supply of output

2) Economic fluctuations (or business cycles)

a. Are changes in the number of business started

b. are fluctuations in the Dow Jones industrial average relative to a long-term growth trend

c. look at the role of business in the hiring resources

d. are fluctuations in the level of economic activity, relative to a long-term growth trend

e. are changes in govt spending that occur over a period of years

3) According to Keynes, "animal spirits"

a. make investment spending unstable

b. make consumption spending unstable

c. make government spending inherently stable

d. guide the economy back to equilibrium after a disruption

e. create the federal government budget deficits that have become so common today

4) The Reagan administration's 1981 investment tax changes were designed to

a. stimulate aggregate demand and thereby reduce unemployment

b. stimulate aggregate demand and thereby increase economic growth

c. stimulate aggregate supply and thereby increase economic growth

d. decrease aggregate demand in order to reduce inflation

e. increase tax revenues to reduce the federal budget deficit

5) A recession is a period during which

a. employment, production, and income decrease

b. the price level is increasing

c. inventories are falling dramatically

d. the unemployment rate is falling while the price level is rising

e. the government attempts to reduce a budget deficit by reducing taxes and increasing government spending

6) Double counting in the value added approach to GDP refers to

a. corporate income being taxed twice

b. the amount of income taxes paid to states that is taxable by the federal government

c. calculating GDP twice using the income and expenditures methods

d. adding the value of exports to GDP and subtracting the value of imports

e. counting the total value of a final output in addition to the value of the inputs used to make it

7) The GDP price index

a. involves all final goods and services produced in the economy

b. is derived from looking at quantities of goods sold rather than at prices

c. is derived using the prices of only imported and exported goods and services

d. is derived using the implicit prices of goods and services produced by the government

e. involves all goods and services sold in the economy

8) Value added is

a the sum of all income earned by resource suppliers

b. actual investment minus planned investment

c. any payment of income that adds to the domestic spending stream

d. the value of a product minus the cost of materials

e. the increase in the value of a financial asset such as a stock or bond

9) Nominal GDP is measured in

A. current-year prices

B. base-year prices

C. real dollars

D. quantity of goods produced

E. hours of employment

10) Which of the following is an injection into the spending stream?

a. planned investment

b. imports

c. indirect business taxes

d. disposable income

e. interest on savings

11) Seasonal unemployment results from

A. unrealistic expectations about the availability of employment

B. being in the wrong geographical location

C. taking the time to find the best job

D. decreases in demand for labor at certain times of the year

E. periodic increases in business activity

12) a recent college graduate who is still looking for their first job, would be considered as

a. a discouraged worker

b. underemployed

c. overemployed

d. unemployed

e. not in the labor force

13) In the United States

a. the average inflation rate was higher before 1950 than after

b. the average inflation rate was higher after 1950 than before

c. inflation caused no serious problems before World War II

d. inflation caused no serious problems after World War II

e. the implicit price deflator was used to measure inflation before World War II, and the consumer price index has been used since then.

14) Since World War II, the U.S. economy has experienced

a. a decrease in the civilian labor force

b. a decrease in the number of unemployed persons

c. a decrease in the number of employed persons

d. an increase in the labor force

e. a declining unemployment rate as a general trend

15) When the economy is at full employment, what types of unemployment may exist?

a. None

b. structural and frictional

c. seasonal and cyclical

d. frictional, cyclical, and structural

e. cyclical

16) Over the last 100 years, the U.S. labor productivity growth rate experienced its largest declines

a. during the Great Depression

b. in the 1940s

c. during the 1950s

d. during the 1980s

17) The term industrial policy refers to

a. the policy industries develop to promote growth

b. industry policy related to marketing strategies

c. the illegal activity that firms sometimes engage in to reduce competition

d. government policy arrived at enhancing our competitiveness with foreign industry

18) which of the following would not be considered a developed country?

a. Pakistan

b. The US

c. Japan

d. Australia

e. Belgium

19) Which of the following is the best indicator of the standard of living?

a. Nominal GDP

b. Real GDP

c. Real GDP per capita

d. Productivity

e. Productivity per unit of labor

20) Over the last 100 years, U.S. labor productivity grew the fastest

a. During the depression

b. In the 1940s

c. In the first half of the period

d. During the 1960s

e. During the 1980s an increase in the labor force participation rate of women.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92263245
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Microeconomics

Question 1 what specifically in your organization or former

Question: 1. What specifically in your organization or former organization is different between your traditional U.S. HR strategies and those you may have to create if you decide to go global? How will your organization' ...

Question i jim has a used car that is worth between 0 and

Question: i. Jim has a used car that is worth between 0 and 2000 pounds (an equal chance of each price in between). Doug is thinking of buying the car and knows it is worth 35% more to him than to Jim. Doug can make a ta ...

Question radio stations tornado sirens light houses and

Question: Radio stations, tornado sirens, light houses, and street lights are all public goods in that all are nonrivalrous and nonexclusionary. Therefore why does the government provide tornado sirens, street lights and ...

Question the c declined an average of more than 3 per year

Question: The C$ declined an average of more than 3% per year relative to the US$ during the 1990s, yet the inflation rate in Canada was almost 1% lower. Also, Canada has a positive trade balance, compared to the huge US ...

Question - paula deen runs a seafood restaurant in savannah

Question - Paula Deen runs a seafood restaurant in Savannah, Georgia. Her total revenue last year was $150,000. The rent on her restaurant was $48,000, her labor costs were $42,000, and her materials, food, and other var ...

Quesiton in the spring of 2003 two professors from a couple

Quesiton: In the spring of 2003, two professors from a couple of New York universities were allowed examine the filings of those companies that had complied with the filing requirement. They wanted to know which and how ...

Question identifies what incentive systems that you have

Question: Identifies what incentive systems that you have experienced to encourage employees to achieve organizational goals. What message did each incentive system communicate? 200 words. The response must be typed, sin ...

Below is the production possibilities table for the country

Below is the production possibilities table for the country of Lavaland. Choice                      Number of tanks                 Number of pizza A                                      0                                ...

Question assume real gdp is 9000 billion and disposable

Question: Assume real GDP is $9,000 billion, and disposable income is $6,000 billion. The government cuts personal income taxes by 1% of DI (i.e., $60 billion). As a result, interest rates rise by 2/3%. Assume transfer p ...

Question why do we use the perfectly elastic world price

Question: Why do we use the perfectly elastic world price curve as a sort of benchmark to evaluate social wellbeing in the case of international trade and import tariff while only using demand curve (willingness to pay) ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As