21) If the automobile workers’ union successfully negotiates a wage increase for its members, how does the wage hike affect the supply of automobiles? A) The supply increases. B) The supply decreases. C) The quantity supplied increases. D) The quantity supplied decreases. E) Both answers B and D are correct.   22) Plywood is used in the construction of houses. If the price […]

  11) Ali decides to attend the one-hour review session for microeconomics instead of working at his job. His job pays him $10 per hour. Ali’s opportunity cost of attending the review session is A) the $10 he could have earned at his job. B) the value of the session minus the $10 he could have earned at his job. C) nothing, because the review […]

  11.Whichofthefollowingshiftslong-runaggregatesupplyright? a.anincreaseineithertechnologyorthehumancapitalstock. b.anincreaseinhumancapitalbutnottechnology. c.anincreaseintechnology,butnotthehumancapitalstock. d.neitheranincreaseintechnologynorthehumancapitalstock. 12.Thediscoveryofalargeamountofpreviously-undiscoveredoilintheU.S.wouldshift a.thelong-runaggregate-supplycurvetotheright. b.thelong-runaggregate-supplycurvetotheleft. c.theaggregate-demandcurvetotheleft. d.Noneoftheaboveiscorrect. 13.Thelong-runaggregatesupplycurvewouldshiftrightifthegovernmentwereto a.reducetheminimum-wage. b.makeunemploymentbenefitsmoregenerous. c.raisetaxesoninvestmentspending. d.Alloftheabovearecorrect. 14.Whichofthefollowingshiftsthelong-runaggregatesupplycurvetotheleft? a.eitheranincreaseinthepriceofimportednaturalresourcesorareductionintraderestrictions. b.neitheranincreaseinthepriceofimportednaturalresourcesorareductionintraderestrictions. c.anincreaseinthepriceofimportednaturalresourcesandanincreaseintraderestrictions. d.anincreaseintraderestrictionsandadecreaseinthepriceofimportednaturalresources. 15.Somecountrieshavehighminimumwagesandrequirealengthyandcostlyprocesstogetpermissiontoopenabusiness a.Reducingeithertheminimumwageorthetimeandcosttoopenabusinesswouldhavenoeffectonthelong-runaggregatesupplycurve. b.Reducingtheminimumwageandthetimeandcosttoopenabusinesswouldbothshiftthelong-runaggregatesupplycurvetotheright. c.Reducingtheminimumwagewouldshiftlong-runaggregatesupplytotheright.Reducingthetimeandcosttoopenabusinesswouldhavenoaffectonthelong-runaggregatesupplycurve. d.Reducingtheminimumwagewouldhavenoaffectonthelong-runaggregatesupplycurve.Reducingthetimeandcosttoopenabusinesswouldshiftthelong-runaggregatesupplycurvetotheright. 16.Thelong-runaggregatesupplycurveshiftsrightif a.technologyimproves. b.thepriceleveldecreases. c.themoneysupplyincreases. d.Alloftheabovearecorrect. 17.Thelong-runaggregatesupplycurveshiftsrightif a.thepricelevelrises. b.thepricelevelfalls. c.thecapitalstockincreases. d.thecapitalstockdecreases. 18.Whichofthefollowingshiftsthelong-runaggregatesupplycurvetotheright? a.bothanincreaseinthecapitalstockandtechnologicalimprovements b.anincreaseinthecapitalstockbutnottechnologicalimprovements c.anincreaseinthecapitalstockbutnottechnologicalimprovements d.neitheranincreaseinthecapitalstocknorantechnologicalimprovements 19.Thelong-runaggregatesupplycurveshiftsrightif a.eitherimmigrationfromabroadincreasesortechnologyimproves. b.immigrationfromabroadincreases,butnotiftechnologyimproves. c.technologyimproves,butnotifimmigrationfromabroadincreases. d.Noneoftheabovearecorrect. 20.Whichofthefollowingwouldshiftthelong-runaggregatesupplycurveright? a.bothanincreaseinthecapitalstockandanincreaseinthepricelevel b.anincreaseinthecapitalstock,butnotanincreaseinthepricelevel c.anincreaseinthemoneysupply,butnotanincreaseinthecapitalstock d.neitheranincreaseinthemoneysupplynoranincreaseinthecapitalstock    

  16.2   Price Discrimination: Charging Different Prices for the Same Product   1) If a firm charges different consumers different prices for the same product and the difference cannot be attributed to cost variations, then it is engaging in A) odd pricing. B) cost-plus pricing. C) price discrimination. D) markup pricing.     2) Why is price discrimination legal but not discrimination based on race […]

  1.CSR tends to be the least concerned with improving: a.Global sustainability. b.Shareholder wealth maximization. c.Rising levels of population. d.Inequity. e.High levels of poverty in some countries. 2.NGOs have the ability to: a.Affect firms’practices. b.Influence firms’ management. c.Impact legislation. d.All of the above. e.None of the above 3.Secondary stakeholder groups are: a.Constituents on whom the firm relies for its continuous survival and prosperity. b.Those who […]

    46.              A building with a cost of $683,000, and accumulated depreciation of $397,500, was sold at a gain of $82,000. This transaction would be reported on a statement of cash flows using the indirect format as a(n): A)$367,500 inflow from investing activities and an $82,000 deduction from net income. B)$285,500 inflow from investing activities and an $82,000 deduction from net income C)$397,500 inflow […]

    11) Riley deposits $4,000 cash in her checkable deposit at Fershur Bank. If the desired reserve ratio is 5 percent, Fershur Bank’s A) desired reserves increase by $4,000. B) assets and its liabilities change in opposite directions. C) desired reserves increase by $200 and its excess reserves increase by $3,800. D) excess reserves increase by $4,000. E) liabilities do not change but its […]

  11) Which of the following is TRUE? A) A country with a current account surplus is earning more from its exports than it spends on imports. B) A country could finance a current account deficit by using previously accumulated foreign wealth to pay for its imports. C) A country with a current account deficit must be increasing its net foreign debts by the amount […]

    11) The production of electricity creates pollution. When deciding how much electricity to buy, customers ________ the cost of pollution. When deciding how much electricity to buy, producers ________ the cost of pollution. A) take into account; take into account B) do not take into account; do not take into account C) take into account; do not take into account D) do not […]

  91.According to the free market view, how does FDI increase the efficiency of world economy through MNEs?  A. The MNE is an instrument for dispersing the production of goods and services to the most efficient locations around the globe. B. MNEs extract profits from the host country and take them to their home country and help all countries realize economies of scale. C. When an MNE produces […]