External link to Question : 21) If a good has a price elasticity of demand : 1377352

Question : 21) If a good has a price elasticity of demand : 1377352

  21) If a good has a price elasticity of demand equal to 0, ________. A) the percentage change in quantity demanded for the good will be greater than the percentage change in its price B) the demand curve of the good is upward sloping C) the smallest increase in its price causes consumers to stop consuming it completely D) the quantity demanded is completely […]

External link to Question : 51) If a product an inferior good, then its income : 1241510

Question : 51) If a product an inferior good, then its income : 1241510

  51) If a product is an inferior good, then its income elasticity of demand is A) zero. B) positive. C) negative. D) indeterminate. E) undefined.   52) If a good is inferior, then it has an income elasticity of demand that is A) equal to zero. B) greater than zero. C) less than zero. D) greater than one. E) undefined. 53) If a 5 […]

External link to Question : 11) If real income grows at approximately 4% per year, : 1384427

Question : 11) If real income grows at approximately 4% per year, : 1384427

  11) If real income grows at approximately 4% per year, the number of years it will take for real income to double is approximately A) 5. B) 12. C) 18. D) 36. E) 72. 12) Of the variables listed below, the best measure of a nation’s average material standard of living is A) nominal GDP. B) percent change in nominal GDP. C) per capita […]

External link to Question : 4.4   Externalities and Economic Efficiency 1) An externality is A) a benefit : 1245096

Question : 4.4   Externalities and Economic Efficiency 1) An externality is A) a benefit : 1245096

  4.4   Externalities and Economic Efficiency   1) An externality is A) a benefit realized by the purchaser of a good or service. B) a cost paid for by the producer of a good or service. C) a benefit or cost experienced by someone who is not a producer or consumer of a good or service. D) anything that is external or not relevant to […]

External link to Question : 21) The above figure shows the production possibility frontier for : 1228131

Question : 21) The above figure shows the production possibility frontier for : 1228131

    21) The above figure shows the production possibility frontier for a country. What is the opportunity cost per ton of rice to move from point B to point D? A) 1000 bottles of wine B) 500 bottles of wine C) 2 bottles of wine D) 1/2 of a bottle of wine E) None of the above answers is correct.   22) The above […]

External link to Question : 6.7   Integrative Questions 1) The figure above shows the market for : 1226502

Question : 6.7   Integrative Questions 1) The figure above shows the market for : 1226502

  6.7   Integrative Questions   1) The figure above shows the market for brooms. If the market is efficient, A) 0 brooms are produced. B) 600 brooms are produced. C) more than 1000 brooms are produced. D) between 0 and 600 brooms are produced. E) between 600 and 1000 brooms are produced.   2) The figure above shows the market for brooms. If 800 brooms […]

External link to Question : 31.Which of the following not a force for culture change? a.The : 1302643

Question : 31.Which of the following not a force for culture change? a.The : 1302643

  31.Which of the following is not a force for culture change? a.The learning organization b.Diversity c.Large group intervention d.Reengineering and horizontal organizing 32.Organizational development often entails large group intervention that involves: a.radical or transformational change in organizations. b.electronic data interchange for the organization as a whole. c.teaching hourly and salaried workers how to participate in strategic planning. d.attempts to bring new emphasis to total […]

External link to Question : 11) When producers hard to monitor and property rights too : 1238661

Question : 11) When producers hard to monitor and property rights too : 1238661

  11) When producers are hard to monitor and property rights are too costly, ________ is (are) an effective method to achieve efficient use of a(n) ________. A) individual transfer quotas; public good B) making a government payment equal to the marginal private benefits; public good C) individual transferable quotas; common resource D) individual transferable quotas; excludable good E) making a government payment equal to […]

External link to Question : 41.A(n) _____ defined as a group of countries committed to : 1299350

Question : 41.A(n) _____ defined as a group of countries committed to : 1299350

  41.A(n) _____ is defined as a group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies.   A.free trade area B.command economy C.efficient market D.foreign exchange market E.location economy 42.Which of the following is true with regard to a free trade area?   A.Factors of production are allowed to move […]

External link to Question : 7.3   The Theory of Rational Expectations 1) Economists have focused more : 1373688

Question : 7.3   The Theory of Rational Expectations 1) Economists have focused more : 1373688

  7.3   The Theory of Rational Expectations   1) Economists have focused more attention on the formation of expectations in recent years. This increase in interest can probably best be explained by the recognition that A) expectations influence the behavior of participants in the economy and thus have a major impact on economic activity. B) expectations influence only a few individuals, have little impact on […]

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