11) The table above gives four production possibilities for airplanes and cruise ships. In possibility A, how many resources are devoted to the production of airplanes? A) 0 B) few C) most D) all E) It is impossible to tell without more information about the prices of airplanes and cruise ships. 12) The table above gives four production possibilities for airplanes and cruise […]
80.Identify the task-related characteristics in the ‘five C’s’ of effective member behaviors. A.Comforting and communicating B.Cooperating and conflict resolving C.Coordinating and communicating D.Conflict resolving and coordinating E.Comforting and cooperating 81.”Fault lines” are more likely to occur when teams: A.have very few members. B.are involved in sequential interdependence. C.engage in participative management. D.are highly interdependent. E.are diverse. 82.Teams with strong fault lines: A.experience more dysfunctional […]
31. The amount you must deposit now in your savings account, paying 5% interest, in order to accumulate $10,000 for your first tuition payment when you start college in 3 years is a. $8,500. b. $7,830. c. $8,638. d. $8,860. 32. The present value of $10,000 to be received in 5 years will be smaller if the discount rate is a. increased. b. […]
91) In the money market, if the quantity of money supplied exceeds the quantity of money demanded, the nominal interest rate will ________ and the prices of assets will ________. A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease E) fall; not change 92) If the quantity of money supplied is greater than the quantity of money demanded, then the A) […]
3.3 Market Equilibrium: Putting Demand and Supply Together 1) At market equilibrium, A) demand equals supply. B) quantity demanded equals quantity supplied. C) surpluses are greater than shortages. D) shortages are greater than surpluses. 2) At a product’s equilibrium price A) anyone who needs the product will be able to buy the product, regardless of ability to pay. B) the federal […]
Multiple Choice 1. According to research presented in the Gendered Lives text, which of the following is true about smiling? A. Women generally smile more than men. B. Smiling is an example of haptics. C. African-American women are socialized to smile more than Caucasian women. D. Men generally smile more than women. E. Research has shown that men and women smile about the same amounts. […]
71.Which of the following is a reason for diminishing rather than constant returns to specialization? A. All resources are of the same quality. B. Resources can shift from the production of one good to another seamlessly. C. Each country has a fixed stock of resources. D. Different goods use different resources in different proportions. E. Trade does not affect the distribution of income within a country. 72.Dynamic gains in […]
51.Which of the following statements is true about innovations and entrepreneurship? A. Command economy creates greater incentives for innovation and entrepreneurship than a market economy. B. If a country’s economy is to sustain long-run economic growth, the business environment must restrict entrepreneurial activity. C. A high level of entrepreneurial activity leads to a low level of innovation. D. Innovations in production and business processes lead to an […]
21) When we use money to purchase goods and services, we are using money as a A) unit of account. B) reserve of wealth. C) medium of exchange. D) store of value. E) bartering tool. Answer: C Topic: Functions of money, medium of exchange Skill: Level 2: Using definitions Section: Checkpoint 11.1 Status: DMC 22) When you use currency to buy lunch, […]
108.Diva Footwear is contemplating if it should continue producing platform shoes. The following information is available for the company’s segments. PlatformShoesAthletic ShoesBoots Sales $120,000 $420,000 $360,000 Variable costs 64,000 220,000 140,000 Contribution margin 56,000 200,000 220,000 Direct fixed costs 45,000 70,000 90,000 Allocated fixed costs 20,000 70,000 60,000 Net income ($9,000) $60,000 $70,000 If platform shoes are […]
121) Ceteris paribus when graphing a relationship refers to
A) letting all the variables change at once.
B) changing the origin of the graph.
C) holding constant all but two variables.
D) rescaling the coordinates.
E) swapping the axes so that the x-axis is the vertical axis and the y-axis is the horizontal axis.
122) When two variables in a graph are related to a third, changing the third causes
A) a movement along the curve.
B) a shift of the curve.
C) no change in the curve because the third variable isn't on the axes.
D) either a shift or a movement in the curve but more information is needed to determine which occurs.
E) None of the above answers is correct.
123) On a graph showing the relationship between x and y, the ceteris paribus condition implies that
A) no other variables are related to x and y.
B) the value of x is held constant.
C) the value of y is held constant.
D) other variables not shown are held constant.
E) the value of x and the value of y are held constant.
124) Three variables are related and two of them are plotted in a figure. If the variable that is not measured on either the x-axis or the y-axis changes, then there is
A) a movement along the drawn curve.
B) a shift in the curve.
C) no impact on the curve because the variable is not measured on either of the axes.
D) either a shift in the curve or a movement along the curve but more information is needed to determine which.
E) None of the above answers is correct.
125) The above figure shows how many pounds of peanuts farmers are willing to sell at different prices per pound of peanuts. If the price of a pound of peanuts is $1 and the price of a pound of pecans is $2, peanut farmers are willing to sell
A) no peanuts.
B) 1000 pounds of peanuts.
C) 2000 pounds of peanuts.
D) 4000 pounds of peanuts.
E) more than 4000 pounds of peanuts.
126) In the above figure, while drawing the line showing the relationship between the price of a pound of peanuts and the quantity sold, the
A) price of a pound of pecans does not change.
B) price of a pound of peanuts does not change.
C) the quantity of peanuts that farmers supply does not change.
D) Both answers A and B are correct.
E) Both answers B and C are correct.
127) In the figure above, suppose the price of a pound of pecans is negatively related to the quantity of peanuts that farmers are willing to supply. If the price of pecans increases,
A) the curve will shift rightward.
B) the curve will shift leftward.
C) there is a movement along the curve.
D) the curve will be unaffected.
E) None of the above answers is correct because the graph assumes that the price of pecans does not change.
128) To graph a relationship that involves more than two variables, we use
A) a positive relationship.
B) a direct relationship.
C) a negative relationship.
D) ceteris paribus.
E) movement up along one of the lines showing the relationship between x and y.
129) In the figure above, an increase in z leads to a
A) movement up along one of the lines showing the relationship between x and y.
B) movement down along one of the lines showing the relationship between x and y.
C) rightward shift of the line showing the relationship between x and y.
D) leftward shift of the line showing the relationship between x and y.
E) trend change in both x and y.
130) In the figure above, ceteris paribus, an increase in x is associated with
A) an increase in y.
B) a decrease in y.
C) an increase in z.
D) a random change in z.
E) no change in either y or z.
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