Ask Question, Ask an Expert


Ask Business Economics Expert

problem 1: In response to lagging production, the government decides to spend more in infrastructure. Which of the following effects would the action have on the economy:

A. Increase in aggregate demand
B. Decrease in aggregate demand
C. Increase in aggregate supply
D. Decrease in aggregate supply

problem 2: In the LONG run, an increase in aggregate demand will increase price level and:

A. Increase production
B. Decrease production
C. Keep production the same
D. Change production and undetermined direction.

problem 3: In the SHORT run, an increase in aggregate demand increases production due to:

A. Increase in the money supply
B. Pressure to increase production from the government
C. Lower taxes
D. More investment and willingness to hire

problem 4: Jim is thirsty and willing to pay $2 for a bottle of water. However, the next day he is willing to pay $500 for a new piece of art. What describes the desire to pay more for a good that is not necessary:

A. Opportunity cost
B. Luxury goods
C. Inferior goods
D. Scarcity

problem 5: In order to expand his business, John sets up a firm program allowing his workers to return to college. John is investing in:

A. Working capital
B. Real capital
C. Human capital
D. Social capital

problem 6: Which of the following would be considered durable goods?

I. Stove
II. Car
III. Clothing
IV. Medicine

A. III and IV
B. II only
C. I and II
D. None of the above

problem 7: Which of the following goods would be considered a final good:

A. Lumber sold to a construction site
B. Flour sold to a bakery
C. Shoes sold in a store
D. Meat sold to a restaurant

problem 8: Harry has a free day at a carnival where he can ride all the rides as much as he wants. He spends several hours, but with still 2 hours of his day left he leaves. Why would he leave even though it’s still free:

A. The marginal cost is too high
B. It is a sunk cost
C. He has maximized his utility
D. The opportunity cost it too high

problem 9: A good that you cannot be excluded from and is available to everyone is known as a:

A. Natural good
B. Normal good
C. Public good
D. Perfect good

problem 10: Jim and Sally own rival companies. Tired of competing with each other, they meet to decide how they’re going to price. This type of activity is known as:

A. Collusion
B. Monopolizing
C. Cheating
D. Profit maximizing

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M92899
  • Price:- $40

Priced at Now at $40, Verified Solution

Have any Question? 

Related Questions in Business Economics

Allocation and allotments please respond to the following1

"Allocation and Allotments" Please respond to the following: 1. From the first e-Activity, examine and evaluate the disparity of Georgia budget allocation for education and property tax to the various localities. Based o ...

Assignmentinstructions1 select an illegal activity and

Assignment Instructions 1. Select an illegal activity and transform/mask its' true purpose with the disguise of a legitimate business operation. In other words, create a start-up business that would be viewed as a legal ...

Assignment -consider the following cobb douglas production

Assignment - Consider the following Cobb Douglas production function where Y is maize output, X 1 is labour input, and X 2 is the capital. Data for estimating this equation is given in the Table below. Y = β 0 X 1i β_1 X ...

What is the relationship between economy business and

What is the relationship between economy, business, and society? -6 page essay (includes only ONE page for references,but the cover page is not included in the 6 page requirement) -Double spaced -APA format

Assignmentpart idirections please write a paper that is at

Assignment PART I Directions: Please write a paper that is at least two to three pages in length in which you address the questions below. Write your paper in APA format with at least one cited scholarly reference. Revie ...

In the united states as in most countries we value the

In the United States, as in most countries, we value the benefits of a free and competitive market. This suggests an interesting question: what if there were to be no Antitrust laws or other regulations on business activ ...

Free trade and restricted trade - benefits and cost1-2

Free Trade and Restricted Trade - Benefits and Cost 1-2 paragraphs APA format/ no plagarism Using your own words, define both free and restricted trade. What do you feel are the benefits and the cost to having free trade ...

Cite the sources used to answer this question provide the

Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references. 1) Class, is it possible for a business to show an accounting profit, but actually earn ...

Assessment task descriptiontopicstudents will be required

ASSESSMENT TASK: DESCRIPTION Topic Students will be required to choose a specific enterprise (it should ideally be one with which they are somewhat familiar) and develop a sustainability indicators monitoring system for ...

Assessment task in this assessment students are required to

ASSESSMENT TASK: In this assessment, students are required to demonstrate their ability to apply economic principles learnt in this subject to analysing real-world business operations and evaluate how their long-run busi ...

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro