External link to Question : 11) Suppose Puerto Rico and Hawaii currently have the same : 1226374

Question : 11) Suppose Puerto Rico and Hawaii currently have the same : 1226374

      11) Suppose Puerto Rico and Hawaii currently have the same production possibilities so that the above figure is the PPF for hotels and consumption goods in the two areas. Hotels are a capital good that,once built, will help produce still more consumption goods. If Puerto Rico produces more hotels than Hawaii, A) Hawaii’s PPF will shift outward further than Puerto Rico’s PPF. […]

External link to Question : 21.2   Economic Development: Sources and Strategies 1) All of the following : 1381300

Question : 21.2   Economic Development: Sources and Strategies 1) All of the following : 1381300

  21.2   Economic Development: Sources and Strategies   1) All of the following are factors that limit a poor nation’s economic growth EXCEPT A) insufficient capital formation. B) insufficient controls on free trade. C) lack of entrepreneurial ability. D) lack of human capital.   2) The vicious-circle-of-poverty hypothesis states that poor countries A) are unable to save and invest enough to accumulate capital stock that […]

External link to Question : 51) Refer to Table 13-4. What the MRP for the : 1384275

Question : 51) Refer to Table 13-4. What the MRP for the : 1384275

  51) Refer to Table 13-4. What is the MRP for the 13th hour worked? A) $78 B) $84 C) $5 D) $30 E) $10 52) Refer to Table 13-4. What is the marginal cost of the variable factor employed by this firm? A) $0 B) $5 C) $10 D) $20 E) $30 53) Refer to Table 13-4. How many worker-hours should this profit-maximizing firm […]

External link to Question : 18.1   Public Choice 1) One argument advanced in favor of not : 1388006

Question : 18.1   Public Choice 1) One argument advanced in favor of not : 1388006

  18.1   Public Choice   1) One argument advanced in favor of not increasing the income tax on individuals with high income is that A) increasing income tax increases wealth which contributes to increases in GDP. B) increasing the income tax on these individuals will reduce economic efficiency. C) increasing the income tax affects mostly middle-income and low-income individuals who are already paying heavy income […]

External link to Question : 44) Since lower-income people spend a larger proportion of their : 1388021

Question : 44) Since lower-income people spend a larger proportion of their : 1388021

    44) Since lower-income people spend a larger proportion of their incomes on groceries than do higher-income people, if grocery stores were required by law to charge a 10-cent fee for disposable bags, this fee could be considered A) a proportional tax. B) a progressive tax. C) a regressive tax. D) an income tax.     45) In reference to the federal income tax […]

External link to Question : 81) In the figure above, if real GDP $12 trillion, : 1227935

Question : 81) In the figure above, if real GDP $12 trillion, : 1227935

    81) In the figure above, if real GDP is $12 trillion, aggregate planned expenditure is ________ $12 trillion and unplanned inventory changes are ________. A) less than; positive B) equal to; equals to zero C) less than; negative D) equal to; negative E) equal to; positive   82) In the figure above, if real GDP is $6 trillion, aggregate planned expenditure is A) […]

External link to Question : 51) A Canadian traveling to the United States converts $100 : 1384544

Question : 51) A Canadian traveling to the United States converts $100 : 1384544

  51) A Canadian traveling to the United States converts $100 Canadian into 95 U.S. dollars. One month later he does the same thing and receives 105 U.S. dollars. There are no transactions costs. The Canadian-U.S. exchange rate has ________ and the Canadian dollar has ________ relative to the U.S. dollar. A) increased; depreciated B) fallen; depreciated C) increased; appreciated D) fallen; appreciated E) not […]

External link to Question : 31) To show the values of an economic variable for : 1225987

Question : 31) To show the values of an economic variable for : 1225987

    31) To show the values of an economic variable for different groups in a population at a point in time, it is best to use a A) scatter diagram. B) time-series graph. C) linear graph. D) cross-section graph E) trend-section diagram.   32) A graph that shows how the amount of advertising expenditure differs among various industries can be shown A) by a […]

External link to Question : 71) The above figure shows the U.S. market for 1 : 1239193

Question : 71) The above figure shows the U.S. market for 1 : 1239193

  71) The above figure shows the U.S. market for 1 carat diamonds. Area A is the A) increase in producer surplus due to the import quota. B) importers’ profit from the import quota. C) decrease in consumer surplus due to the import quota. D) deadweight loss from the import quota. E) gain in total surplus due to the import quota. 72) If the United […]

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