11) When firms in a perfectly competitive market incur economic losses, exit by some firms means the market supply will A) increase. B) decrease. C) not change. D) become vertical. E) become the same as the individual producers’ supplies. 12) To eliminate losses in a perfectly competitive market, firms exit the industry. This exit results in A) an increase in market supply. B) […]
21) Diminishing marginal utility means that A) marginal utility decreases as consumption decreases. B) marginal utility increases as consumption increases. C) marginal utility decreases as consumption increases. D) total utility decreases as marginal utility decreases. E) total utility decreases as marginal utility increases. 22) Brenda’s marginal utility per dollar from the second hamburger is 20. Her marginal utility from the third hamburger would […]
31.Wheninflationcausesrelative-pricevariability, a.consumerdecisionsaredistortedandtheabilityofmarketstoefficientlyallocatefactorsofproductionisimpaired. b.consumerdecisionsaredistorted,butmarketsarestillabletoefficientlyallocatefactorsofproduction. c.consumerdecisionsarenotdistorted,buttheabilityofmarketstoefficientlyallocatefactorsofproductionisimpaired. d.consumerdecisionsarenotdistortedandmarketsarestillabletoefficientlyallocatefactorsofproduction. 32.Relativepricevariabilityis“automatic”when a.firmschangepricesonlyonceinawhile. b.firmschangepricesoften. c.peopleincreasethefrequencyoftheirtripstothebank. d.peopledecreasethefrequencyoftheirtripstothebank. 33.Higherinflation a.causesfirmstochangepriceslessfrequentlyandmakesrelativepriceslessvariable. b.causesfirmstochangepriceslessfrequentlyandmakesrelativepricesmorevariable. c.causesfirmstochangepricesmorefrequentlyandmakesrelativepriceslessvariable. d.causesfirmstochangepricesmorefrequentlyandmakesrelativepricesmorevariable. 34.Areductionintheinflationratewouldmakerelativeprices a.lessvariable,makingitmorelikelythatresourceswillbeallocatedtotheirbestuse. b.lessvariable,makingitlesslikelythatresourceswillbeallocatedtotheirbestuse. c.morevariable,makingitmorelikelythatresourceswillbeallocatedtotheirbestuse. d.morevariable,makingitlesslikelythatresourceswillbeallocatedtotheirbestuse. 35.Inflationisproblematicif a.itislessthanthepercentageincreaseinnominalincome. b.itislessthanthenominalreturnonsaving. c.itequalsthegrowthrateofrealGDPinthelongrun. d.itdistortsrelativeprices,causingamisallocationofresources. 36.U.S.taxlawsallowtaxpayers,incomputingtheamountoftaxtheyowe,tousetherealvalue,asopposedtothenominalvalue,of a.bothinterestincomeandcapitalgains. b.interestincomebutnotcapitalgains. c.capitalgainsbutnotinterestincome. d.neitherinterestincomenorcapitalgains. 37.IntheU.S.,peoplearerequiredtopaytaxeson a.nominalinterestearnings,irrespectiveoftheirrealinterestearnings. b.realinterestearnings,irrespectiveoftheirnominalinterestearnings. c.realcapitalgains,irrespectiveoftheirnominalcapitalgains. d.Alloftheabovearecorrect. 38.WhichofthefollowingareU.S.taxpayersallowedtoadjustforinflationforthepurposeofincometaxes? a.bothinterestincomeandcapitalgains. b.interestincomebutnotcapitalgains. c.capitalgainsbutnotinterestincome. d.neitherinterestincomenorcapitalgains. 39.IntheU.S.,taxesoncapitalgainsarecomputedusing a.nominalgains.Thisisonewaybywhichhigherinflationdiscouragessaving. b.nominalgains.Thisisonewaybywhichhigherinflationencouragessaving. c.realgains.Thisisonewaybywhichhigherinflationdiscouragessaving. d.realgains.Thisisonewaybywhichhigherinflationencouragessaving. 40.Youboughtsomesharesofstockand,overthenextyear,thepricepershareincreasedby5percent,asdidthepricelevel.Beforetaxes,youexperienced a.bothanominalgainandarealgain,andyoupaidtaxesonthenominalgain. b.bothanominalgainandarealgain,andyoupaidtaxesonlyontherealgain. c.anominalgain,butnorealgain,andyoupaidtaxesonthenominalgain. d.anominalgain,butnorealgain,andyoupaidnotaxesonthetransaction.
10.1 Negative Externalities: Pollution 1) Externalities A) can be either benefits or costs. B) always create extra social costs. C) always make society better off. D) cannot be expressed in dollar amounts. E) are always part of private costs or private benefits. 2) A cost that arises from the production or consumption that falls on someone other than the producer or consumer is called […]
51) In the indifference curve/budget line diagram, consumers reach higher indifference curves when A) their budget decreases. B) the price of only the good measured along the y-axis increases. C) the price of only the good measured along the x-axis increases. D) the price of either good falls. E) the price of either good rises. 52) In an indifference curve/budget line diagram, generally when […]
41. All of the following are considered a key dimension for being politically skillful except: a. social astuteness. b. networking ability. c. interpersonal influence. d. manipulativeness. 42. The ability to get things done through positive interpersonal relationships outside the formal organization is known as: a. informal authority. b. the use of power. c. political skill. d. the use of expert knowledge. 43. You have […]
61.Shares of Beech Brewery, Inc. trade at $35. Call options with a strike price of $30 trade for $7.50. The options have 1 year until expiration and the risk free rate is 4%. According to put – call parity what should be the price of a $30 put option on Beech Brewery with one year to expiration. a.$6.15 b.$6.36 c.$1.35 d.$11.15 62.Jim Lemke purchases […]
21) You explain to your roommate Surya, who makes beaded headbands, about an economic theory which asserts that consumers will purchase more of a product at lower prices than they will at higher prices. She contends that the theory is incorrect because over the past two years she has lowered the price of her headbands and yet has seen a decrease in sales. How […]
11) Which of the following is true? i.Production efficiency occurs only when resources are used to produce the combination of goods that has the greatest value. ii.Allocative efficiency occurs when marginal benefit equals marginal cost. iii.A demand curve is a marginal cost curve. A) Only ii B) Only i C) Only iii D) i and ii E) ii and iii 12) Which of […]
Multiple choice 32.Which one of the following does economic theory suggest? A.Set a price that allows profit maximization B.Set a price that allows the minimum number of units to be sold at the highest unit price C.Set a price that will maximize revenues D.Set a price that will maximize market share 33.Which of the following factors is considered in a product pricing […]
Suppose you have recently responded to your first computer forensic incident. The case in question involves a potential underground hacking ring, which the police, working in conjunction with the Federal Bureau of Investigation have been investigating for several years. It has since been determined that an IP address confirms that location, and the identity of one of the suspects. Warrants have been issued for search and seizure of all electronic devices found on the premises.
The following picture depicts the setup found in the suspect’s home. Your job is to document your findings and secure all relevant evidence.
Write a paper of no less than three to five pages in which you:
Your assignment must follow these formatting requirements:
The specific course learning outcomes associated with this assignment are:
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