5.1 GDP, Income, and Expenditure 1) A measure of a country’s production is its A) gross daily production. B) general daily product. C) general domestic production. D) gross domestic product. E) gross total output. 2) The total production within an economy is measured as A) Gross Home Product. B) Total Domestic Output. C) Annual Production Value. D) Gross Domestic Product. E) Total Annual Output. […]
51) A free lunch (the absence of a tradeoff) when the production of a good is increased is possible for the entire economy only if A) less of some product is produced. B) prices are decreased. C) prices are increased. D) resources are used inefficiently. E) there is a movement along the PPF. 52) A movement from a point inside the production possibilities frontier […]
Multiple Choice – Section 02: Job Search 1.Jobsearch a.isonereasoneconomiesalwaysexperiencesomeunemployment. b.istheprocessofmatchingworkerswithappropriatejobs. c.wouldnotbeaproblemifallworkersandalljobswerethesame. d.Alloftheabovearecorrect. 2.Ifallworkersandalljobswerethesamesuchthatallworkerswereequallywellsuitedforalljobs,thentherewouldbeno a.cyclicalunemployment. b.frictionalunemployment. c.naturalrateofunemployment. d.structuralunemployment. 3.Sectoralshiftsindemandforoutput a.createstructuralunemployment. b.immediatelyreduceunemployment. c.increaseunemploymentduetojobsearch. d.donotaffectdemandforlabor. 4.Fromtimetotime,thedemandforworkershasriseninoneregionoftheUnitedStatesandfalleninanother.Thisillustrates a.frictionalunemploymentcreatedbyefficiencywages. b.structuralunemploymentcreatedbyefficiencywages. c.frictionalunemploymentcreatedbysectoralshifts. d.structuralunemploymentcreatedbysectoralshifts. 5.Supposethatconsumersdecidetowalktoworkmorefrequentlyanddrivecarsless.Companiesthatmakewalkingshoeshireworkers,whileautomobilecompanieslayoffworkers.Thisisanexampleof a.frictionalunemploymentcreatedbysectoralshifts. b.frictionalunemploymentcreatedbyefficiencywages. c.structuralunemploymentcreatedbyefficiencywages. d.structuralunemploymentcreatedbysectoralshifts. 6.Supposethatbecauseofthepopularityofthelow-carbdiet,bakeriesneedfewerworkersandsteakhousesneedmoreworkers.Theunemploymentcreatedbythischangeis a.frictionalunemploymentcreatedbyefficiencywages. b.frictionalunemploymentcreatedbysectoralshifts. c.structuralunemploymentcreatedbyefficiencywages. d.structuralunemploymentcreatedbysectoralshifts. 7.Supposethedemandforhard-woodflooringincreases,whilethedemandforwall-to-wallcarpetingdecreases.Basedonthischangeinconsumertastes,thedemandforhard-wood-flooringfactoryworkersinNorthCarolinaincreases,whilethedemandforcarpetfactoryworkersinGeorgiadecreases.Thisisanexampleof a.frictionalunemploymentcreatedbyefficiencywages. b.structuralunemploymentcreatedbyefficiencywages. c.frictionalunemploymentcreatedbysectoralshifts. d.structuralunemploymentcreatedbysectoralshifts. 8.Supposethatananti-smokingcampaigninMoscow,Russia,issuccessfulsothatMuscovitessmokelessandchewgummore.Tobaccocompanieslayoffworkers,whilechewinggummanufacturersemploymoreworkers.Thisisanexampleof a.structuralunemploymentcreatedbyefficiencywages. b.structuralunemploymentcreatedbysectoralshifts. c.frictionalunemploymentcreatedbyefficiencywages. d.frictionalunemploymentcreatedbysectoralshifts. 9.Theinventionofthetelegraphledtothelossofjobsforthosewhohaddeliveredmailbyhorsebutcreatedjobsfortelegraphoperatorsanddeliverypersons.Thisisanexampleof a.structuralunemploymentcreatedbyefficiencywages. b.structuralunemploymentcreatedbysectoralshifts. c.frictionalunemploymentcreatedbyefficiencywages. d.frictionalunemploymentcreatedbysectoralshifts. 10.SupposethattheBureauofLaborStatisticspredictsthatthenumberofjobsfordentalhygienistswillgrowfasterthanmostoccupationswhilethenumberofjobsforbookbinderswilldecline.Thischangeinthelabormarketcouldleadto a.frictionalunemploymentcreatedbyefficiencywages. b.structuralunemploymentcreatedbyefficiencywages. c.frictionalunemploymentcreatedbysectoralshifts. d.structuralunemploymentcreatedbysectoralshifts.
21) Computer memory chips are produced on wafers, each wafer having many separate chips that are separated and sold. The above table shows costs for a perfectly competitive producer of computer memory chips. If the market price of a wafer is $2,400 dollars, the firm is A) making zero economic profit. B) making an economic profit of $12,000 an hour. C) incurring an economic […]
MakeStuff Company The MakeStuff Company’s earnings stream is highly dependent on the cost of a key commodity input. Management believes taxable earnings will be $100,000 if the input price is low, taxable earnings will be $50,000 if the input price is at a moderate level, but earnings will be zero if the input price is high. Management sees these outcomes as being equally […]
Case 8.1 A manager wants you to develop training that will improve employee performance. You begin by asking the manager and his boss some questions. You find that employees are given specific assignments but may be pulled off one task and put on a higher priority one with little warning. You ask the manager what the problem seems to be. He says people aren’t […]
11) Which of the following statements is true? A) If the domestic price of a good in a country is higher than the world price, the country will become an exporter of the good. B) Whether a country becomes an importer or an exporter of a good depends only on the domestic price of the good and is independent of the world price of […]
71) Stagflation is defined as a period when real GDP ________ and the price level ________. A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) is constant; rises rapidly 72) A combination of declining real GDP and rising price level is referred to as A) an expansion. B) a trough. C) stagflation. D) deflation. E) a depression. 73) Reasons that […]
18.5 The Limits of Using Fiscal Policy to Stabilize the Economy 1) The Federal Reserve plays a larger role than Congress and the president in stabilizing the economy because A) the Federal Reserve can more quickly change monetary policy than the president and the Congress can change fiscal policy. B) the Federal Reserve can immediately recognize when real GDP is below or above potential […]
81._____ advocates that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate. A. Cultural pluralism B. Friedman’s doctrine C. Cultural relativism D. Ethnocentrism E. Cultural convergence 82.Which of the following straw men approaches to business ethics is best summarized by the maxim “When in Rome, do as the Romans?” A. Cultural relativism B. Just distribution C. Kantian ethics D. Righteous moralist E. Sullivan […]
Instructions
Create a reference list of at least four scholarly sources that you will use in your final project. References should follow APA format (7th edition).
Finding scholarly sources
For this part of the final project, you will use the
UMGC Library BEHS 210 Course Guide
, UMGC Library databases, or Google Scholar to locate four scholarly or credible sources on your chosen topic. Your articles should represent at least two different social science disciplines.
What is a scholarly or credible source? You should rely on sources that have credibility. Appropriate sources are articles written by experts in the field, articles found in peer-reviewed journals, published documents from well-known research groups (e.g., Pew Research), and reports published by government agencies (e.g., NIH, CDC). Inappropriate sources would include popular websites (e.g.,
about.com,
ehow.com,
Wikipedia) or media outlets (e.g.,
Fox,
MSNBC,
Wall Street Journal,
New York Times,
Forbes, etc.). These sources do not always accurately report their findings and are sometimes prone to bias. If a website or article fails to report the credentials of the author(s) and does not include citations for the information contained in the article, chances are it is not a scholarly source and therefore should not be used.
Submit a summary of each article using the attached worksheet. In your own words, identify the key findings of the article. Do not simply state what the article was about (e.g., "This article talks about cyberbullying"). What specific information did you learn from your source? (E.g., "Cyberbullying has become a popular means of abuse among teenagers, affecting about half of all young people.") The purpose of the key findings section is to demonstrate that you have read and understood each of your sources. Your key findings should be 300 words in length.
Do not simply copy and paste the abstract or any other part of your source! This violates the university's
Academic Integrity policy
.
The purpose of this assignment is to 1) ensure that you are using appropriate, scholarly sources, and 2) to make sure you are on track for your final project.
Please download the attached annotated bibliography worksheet.
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