41) As additional units of labor hours are employed, holding all other factors constant, along the production function, A) real GDP increases at an increasing rate. B) nominal GDP decreases at an increasing rate. C) real GDP increases at a decreasing rate. D) real GDP increase at a constant rate. E) real GDP initially decreases and then starts to increase. 42) The […]
11) Suppose the government has a budget surplus of $2 billion. If there is no Ricardo-Barro effect, what occurs? A) The supply of loanable funds curve shifts rightward, lowering the interest rate, and increasing investment. B) The demand for loanable funds curve shifts rightward, raising the interest rate, and increasing investment. C) The supply of loanable funds curve shifts leftward, raising the interest rate, […]
21) If an industry has an HHI of 2,500, the market structure is that of A) a monopoly. B) monopolistic competition. C) an oligopoly. D) perfect competition. E) either monopoly or perfect competition, depending on the existence or absence of barriers to entry. 22) The figure above shows the market demand curve and the ATC curve for a firm. If all firms in the […]
7.1 The United States in the International Economy 1) When the U.S. government places a tariff on a product, such as the tariff on tires imported from China, the quantity of the product imported will generally ________ and the price paid by consumers for the product will generally ________. A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease […]
11) The total variable cost curve ________ because ________ as output increases. A) slopes upward; variable cost increases B) slopes upward; marginal cost increases C) slopes downward; variable cost increases D) slopes downward; marginal cost increases E) is horizontal; fixed cost does not change 12) Marginal cost equals A) total cost minus total variable cost. B) total fixed cost divided by total output. […]
101) The union wage premium refers to the A) portion of a union wage attributable to fees payable to the union. B) trade-off the union faces between the level of the wage and the size of the union. C) higher wage attributable only to the union status of the job. D) wage that a union is able to set unilaterally. E) wage that an […]
31. Which one of the following taxpayers qualify for the earned income credit? a. A 70-year-old doctor whose practice had a net loss and who has an AGI of $5,000 in 2014. b. An 18-year-old college student who earns $8,000 at a part-time job. c. A couple who have a combined AGI of $17,000 and three children but file separately. d. A 31-year-old construction worker with $22,000 of AGI […]
91) If the Fed buys $10 million of government securities when the desired reserve ratio is 20 percent and the currency drain ratio is 5 percent, the quantity of money A) increases by $42 million. B) increases by $50 million. C) decreases by $42 million. D) decreases by $50 million. E) increases by $7.5 million. Answer: A Topic: Money multiplier Skill: Level 5: […]
61) If we observe that short-term market interest rates have fallen, we can certainly conclude that the A) Bank of Canada has implemented an expansionary monetary policy. B) Bank of Canada has implemented a contractionary monetary policy. C) Bank of Canada has abandoned its inflation target. D) Government of Canada has reduced the money supply. E) It is not possible to conclude any of […]
91.The USP symbol on the label of a vitamin supplement means that: a.it contains the ingredients as listed on the label. b.it has been tested for effectiveness. c.it will dissolve in the digestive tract. d.a and b e.a and c 92.You recommend that your friend not take stress formula vitamin C supplements because: a.vitamin C is not involved in the release of […]
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1. Imagine that you are doing research on colonial American newspapers during the 1600s and 1700s for your journalism class. You find the advertisements, announcements, and editorial sections interesting. As you comb through the listings and letters, you notice that some of the words have been smudged. Use the dropdown menus to fill in the missing words.
James Stewart, Proprietor of Chesapeake Import/Export Co., would like to inform the public he has opened up shop near the _____ Gentlemen may depend upon him to provide excellent _____ export services and only the highest quality of imported _____. He guarantees satisfaction to all who employ his services.
From ______ to Charleston, South Carolina: Captain Green of the Sloop Swain, with a healthy stock of 100 Negroes (70 men and 30 women) skilled in __________ . Auction will begin on Tuesday, the 18th of April. Additional freight to be sold includes sugar.
The trials for _____________ , who are accused of _______ , will commence on the 27th of July, 1692. Witnesses reported strange occurrences such as spirit possession and young ladies having violent fits.
My fellow Gentlemen, on the debate of whether or not it is moral to own slaves, the answer is simple. There are many plantations in the _____ that need tending. With the decrease in the number of _____ , the Southern economy demands that we have access to a strong, large workforce capable of cultivating the land. Negroes have proven quite valuable to the rice industry. They are subordinate to the white man and are well suited to plantation work and manual labor. What good would it do the Negro or the white man to issue the Negro freedom now?
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