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External link to Question : 91) The Phillips curve originally appeared to demonstrate a trade-off : 1384486
Economics

Question : 91) The Phillips curve originally appeared to demonstrate a trade-off : 1384486

    91) The Phillips curve originally appeared to demonstrate a trade-off between inflation and unemployment. This was later thought to be deficient because A) it was later recognized that inflation and unemployment were unrelated. B) the influence on aggregate demand had not been incorporated. C) changes in unemployment had not been incorporated. D) the effects of fiscal policy on aggregate demand had not been […]

External link to Question : 111.The _____ was created to implement the GATT agreement. A. World : 1299315
Economics

Question : 111.The _____ was created to implement the GATT agreement. A. World : 1299315

  111.The _____ was created to implement the GATT agreement.   A. World Bank B. World Trade Organization C. International Trade Commission D. International Monetary Fund E. World Economic Forum 112.Which of the following organizations, established in 1995 under the provisions of the Uruguay Round, has taken over the responsibility to arbitrate trade disputes and monitor the trade policies of member countries?   A. World Bank B. World Trade Organization C. International Trade Commission […]

External link to Question : 41. A company’s manager estimates that in the upcoming year, total : 1291715
Economics

Question : 41. A company’s manager estimates that in the upcoming year, total : 1291715

  41. A company’s manager estimates that in the upcoming year, total variable costs will increase by $7,500 and total fixed costs will increase by $3,500. Assume that the unit sales price did not change. What will be the anticipated effect on net operating income? A. Net operating income will increase by $11000.B. Net operating income will decrease by $11,000.C. Net operating income will increase by $4,000.D. Net operating income will […]

External link to Question : 21) In the liquidity preference framework, a one-time increase in : 1373671
Economics

Question : 21) In the liquidity preference framework, a one-time increase in : 1373671

  21) In the liquidity preference framework, a one-time increase in the money supply results in a price level effect. The maximum impact of the price level effect on interest rates occurs A) at the moment the price level hits its peak (stops rising) because both the price level and expected inflation effects are at work. B) immediately after the price level begins to rise, […]

External link to Question : 11) A business which contends that it needs temporary protection : 1384527
Economics

Question : 11) A business which contends that it needs temporary protection : 1384527

  11) A business which contends that it needs temporary protection so that it can expand significantly and thereby reduce its costs so as to enable it to compete with foreign producers is using an argument known as the A) infant-industry case for tariffs. B) monopolistic competition case for tariffs. C) strategic case for tariffs. D) price fluctuations case for tariffs. E) social advantages case […]

External link to Question : 11) Induced taxes defined as taxes A) we forced to pay : 1238232
Economics

Question : 11) Induced taxes defined as taxes A) we forced to pay : 1238232

  11) Induced taxes are defined as taxes A) we are forced to pay for services from the government. B) that vary with real GDP. C) that are avoided with the use of legal tax shelters. D) enacted by Congress that explicitly state the amount to be paid. E) that rise in recessions and fall in expansions. 12) Needs-tested spending is defined as A) spending […]

External link to Question : 101.Some contemporary moral philosophers view Kant’s ethical philosophy as incomplete : 1299272
Economics

Question : 101.Some contemporary moral philosophers view Kant’s ethical philosophy as incomplete : 1299272

  101.Some contemporary moral philosophers view Kant’s ethical philosophy as incomplete because his system has no place for:   A. basic human rights. B. human respect. C. moral emotions and sentiments. D. just and fair treatment of a minority. E. human dignity. 102.Which of the following is a violation of ethics according to Kantian philosophy?   A. Employing people to work at sweatshops B. Treating people as ends rather than as means […]

External link to Question : 21.Ataxleviedonthesellersofblueberries a.increasessellers’costs,reducesprofits,andshiftsthesupplycurveup. b.increasessellers’costs,reducesprofits,andshiftsthesupplycurvedown. : 1262442
Economics

Question : 21.Ataxleviedonthesellersofblueberries a.increasessellers’costs,reducesprofits,andshiftsthesupplycurveup. b.increasessellers’costs,reducesprofits,andshiftsthesupplycurvedown. : 1262442

  21.Ataxleviedonthesellersofblueberries a.increasessellers’costs,reducesprofits,andshiftsthesupplycurveup. b.increasessellers’costs,reducesprofits,andshiftsthesupplycurvedown. c.decreasessellers’costs,increasesprofits,andshiftsthesupplycurveup. d.decreasessellers’costs,increasesprofits,andshiftsthesupplycurvedown. 22.Ataxonsellerswillshiftthe a.demandcurveupwardbytheamountofthetax. b.demandcurvedownwardbytheamountofthetax. c.supplycurveupwardbytheamountofthetax. d.supplycurvedownwardbytheamountofthetax. 23.Whenataxisimposedonthesellersofagood,thesupplycurveshifts a.upwardbytheamountofthetax. b.downwardbytheamountofthetax. c.upwardbylessthantheamountofthetax. d.downwardbylessthantheamountofthetax. 24.A$2.00taxleviedonthesellersofbirdhouseswillshiftthesupplycurve a.upwardbyexactly$2.00. b.upwardbylessthan$2.00. c.downwardbyexactly$2.00. d.downwardbylessthan$2.00. 25.A$0.10taxleviedonthesellersofchocolatebarswillcausethe a.supplycurveforchocolatebarstoshiftdownby$0.10. b.supplycurveforchocolatebarstoshiftupby$0.10. c.demandcurveforchocolatebarstoshiftdownby$0.10. d.demandcurveforchocolatebarstoshiftupby$0.10. 26.Whenataxisplacedonthesellersofaproduct,the a.sizeofthemarketdecreases. b.effectivepricereceivedbysellersdecreases,andthepricepaidbybuyersincreases. c.supplyoftheproductdecreases. d.Alloftheabovearecorrect. 27.Supposethereiscurrentlyataxof$50perticketonairlinetickets.Sellersofairlineticketsarerequiredtopaythetaxtothegovernment.Ifthetaxisreducedfrom$50perticketto$30perticket,thenthe a.demandcurvewillshiftupwardby$20,andthepricepaidbybuyerswilldecreasebylessthan$20. b.demandcurvewillshiftupwardby$20,andthepricepaidbybuyerswilldecreaseby$20. c.supplycurvewillshiftdownwardby$20,andtheeffectivepricereceivedbysellerswillincreasebylessthan d.supplycurvewillshiftdownwardby$20,andtheeffectivepricereceivedbysellerswillincreaseby$20. 28.Supposethereiscurrentlyataxof$50perticketonairlinetickets.Sellersofairlineticketsarerequiredtopaythetaxtothegovernment.Ifthetaxisreducedfrom$50perticketto$30perticket,thenthe a.demandcurvewillshiftupwardby$20,andtheeffectivepricereceivedbysellerswillincreaseby$20. b.demandcurvewillshiftupwardby$20,andtheeffectivepricereceivedbysellerswillincreasebylessthan c.supplycurvewillshiftdownwardby$20,andthepricepaidbybuyerswilldecreaseby$20. d.supplycurvewillshiftdownwardby$20,andthepricepaidbybuyerswilldecreasebylessthan$20. 29.Supposesellersofliquorarerequiredtosend$5.00tothegovernmentforeverybottleofliquortheysell.Further,supposethistaxcausesthepricepaidbybuyersofliquortoriseby$3.00perbottle.Whichofthefollowingstatementsiscorrect? a.Thistaxcausesthesupplycurveforliquortoshiftupwardby$5.00ateachquantityofliquor. b.Theeffectivepricereceivedbysellersis$5.00perbottlelessthanitwasbeforethetax. c.Fortypercentoftheburdenofthetaxfallsonbuyers. d.Alloftheabovearecorrect. 30.Ataxonthebuyersofsofas a.increasesthesizeofthesofamarket. b.decreasesthesizeofthesofamarket. c.hasnoeffectonthesizeofthesofamarket. d.mayincrease,decrease,orhavenoeffectonthesizeofthesofamarket.    

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July 1, 2023
    

 

 

 

 

13) The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to

A) area A + area B + area C + area D.

B) area A.

C) area B + area C + area D.

D) area C + area D.

E) area E.

14) The above figure shows the U.S. market for chocolate. With international trade, consumer surplus is equal to

A) area A + area B + area C + area D.

B) area A.

C) area B + area C + area D.

D) area C + area D.

E) area E.

 

15) The above figure shows the U.S. market for chocolate. With no international trade, producer surplus is equal to

A) area A + area B + area C + area D.

B) area B + area C + area D + area E.

C) area B + area C + area D.

D) area C + area D.

E) area E.

 

16) The above figure shows the U.S. market for chocolate. With international trade, the gain in total surplus is equal to

A) area B.

B) area A + area B + area C + area D.

C) area B + area C + area D + area E.

D) area C + area D.

E) area B + area C + area D.

17) The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to ________ and producer surplus is equal to ________.

A) area A + area B + area C + area D; area E

B) area B + area C + area D; area A + area E

C) area A; area E

D) area C + area D; area B + area E

E) area E; area A + area B + area C + area D

 

18) The above figure shows the U.S. market for chocolate. With international trade, ________ is the transfer of surplus from producers to consumers.

A) area B +area C + area D

B) area B

C) area C + area D

D) area A

E) area E

 

19) When a nation exports a good or service in which it has a comparative advantage, employment in that industry

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what else the country exports is needed to determine if employment increases, decreases, or does not change.

E) might change, but more information about what the country imports is needed to determine if employment increases, decreases, or does not change.

20) When a nation exports a good or service in which it has a comparative advantage, production of the good or service

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what the country imports is needed to determine if production increases, decreases, or does not change.

E) might change, but more information about what else the country exports is needed to determine if production increases, decreases, or does not change.

 

21) When a nation exports a good or service, employment in that industry

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what else the country exports is needed to determine if employment increases, decreases, or does not change.

E) might change, but more information about what the country imports is needed to determine if employment increases, decreases, or does not change.

 

22) When a nation exports a good, its consumer surplus ________, and its producer surplus ________.

A) increases; increases

B) decreases; decreases

C) increases; decreases

D) decreases; increases

E) does not change; increases

 

 

 

default image
July 1, 2023
    

 

 

 

 

13) The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to

A) area A + area B + area C + area D.

B) area A.

C) area B + area C + area D.

D) area C + area D.

E) area E.

14) The above figure shows the U.S. market for chocolate. With international trade, consumer surplus is equal to

A) area A + area B + area C + area D.

B) area A.

C) area B + area C + area D.

D) area C + area D.

E) area E.

 

15) The above figure shows the U.S. market for chocolate. With no international trade, producer surplus is equal to

A) area A + area B + area C + area D.

B) area B + area C + area D + area E.

C) area B + area C + area D.

D) area C + area D.

E) area E.

 

16) The above figure shows the U.S. market for chocolate. With international trade, the gain in total surplus is equal to

A) area B.

B) area A + area B + area C + area D.

C) area B + area C + area D + area E.

D) area C + area D.

E) area B + area C + area D.

17) The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to ________ and producer surplus is equal to ________.

A) area A + area B + area C + area D; area E

B) area B + area C + area D; area A + area E

C) area A; area E

D) area C + area D; area B + area E

E) area E; area A + area B + area C + area D

 

18) The above figure shows the U.S. market for chocolate. With international trade, ________ is the transfer of surplus from producers to consumers.

A) area B +area C + area D

B) area B

C) area C + area D

D) area A

E) area E

 

19) When a nation exports a good or service in which it has a comparative advantage, employment in that industry

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what else the country exports is needed to determine if employment increases, decreases, or does not change.

E) might change, but more information about what the country imports is needed to determine if employment increases, decreases, or does not change.

20) When a nation exports a good or service in which it has a comparative advantage, production of the good or service

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what the country imports is needed to determine if production increases, decreases, or does not change.

E) might change, but more information about what else the country exports is needed to determine if production increases, decreases, or does not change.

 

21) When a nation exports a good or service, employment in that industry

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what else the country exports is needed to determine if employment increases, decreases, or does not change.

E) might change, but more information about what the country imports is needed to determine if employment increases, decreases, or does not change.

 

22) When a nation exports a good, its consumer surplus ________, and its producer surplus ________.

A) increases; increases

B) decreases; decreases

C) increases; decreases

D) decreases; increases

E) does not change; increases

 

 

 

default image
July 1, 2023
    

 

 

 

 

13) The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to

A) area A + area B + area C + area D.

B) area A.

C) area B + area C + area D.

D) area C + area D.

E) area E.

14) The above figure shows the U.S. market for chocolate. With international trade, consumer surplus is equal to

A) area A + area B + area C + area D.

B) area A.

C) area B + area C + area D.

D) area C + area D.

E) area E.

 

15) The above figure shows the U.S. market for chocolate. With no international trade, producer surplus is equal to

A) area A + area B + area C + area D.

B) area B + area C + area D + area E.

C) area B + area C + area D.

D) area C + area D.

E) area E.

 

16) The above figure shows the U.S. market for chocolate. With international trade, the gain in total surplus is equal to

A) area B.

B) area A + area B + area C + area D.

C) area B + area C + area D + area E.

D) area C + area D.

E) area B + area C + area D.

17) The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to ________ and producer surplus is equal to ________.

A) area A + area B + area C + area D; area E

B) area B + area C + area D; area A + area E

C) area A; area E

D) area C + area D; area B + area E

E) area E; area A + area B + area C + area D

 

18) The above figure shows the U.S. market for chocolate. With international trade, ________ is the transfer of surplus from producers to consumers.

A) area B +area C + area D

B) area B

C) area C + area D

D) area A

E) area E

 

19) When a nation exports a good or service in which it has a comparative advantage, employment in that industry

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what else the country exports is needed to determine if employment increases, decreases, or does not change.

E) might change, but more information about what the country imports is needed to determine if employment increases, decreases, or does not change.

20) When a nation exports a good or service in which it has a comparative advantage, production of the good or service

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what the country imports is needed to determine if production increases, decreases, or does not change.

E) might change, but more information about what else the country exports is needed to determine if production increases, decreases, or does not change.

 

21) When a nation exports a good or service, employment in that industry

A) decreases.

B) stays the same.

C) increases.

D) might change, but more information about what else the country exports is needed to determine if employment increases, decreases, or does not change.

E) might change, but more information about what the country imports is needed to determine if employment increases, decreases, or does not change.

 

22) When a nation exports a good, its consumer surplus ________, and its producer surplus ________.

A) increases; increases

B) decreases; decreases

C) increases; decreases

D) decreases; increases

E) does not change; increases

 

 

 

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