31) For most products, Canada is a small economy with no market power in the global market. If Canada imposed a tariff on imported goods from a low-wage foreign country, this would A) reduce the price of the imported good in Canada. B) improve Canada’s terms of trade. C) increase the Canadian price of the imported good. D) equalize the costs of production between […]
11.What is the name given to the energy that is responsible for holding the protons and neutrons together in the nucleus? A) nuclear energy B) kinetic energy C) static energy D) binding energy E) activation energy 12. Unstable nuclei become more stable by spontaneously undergoing a change in their nucleus and emitting radiation. What is the term used to describe this process? […]
Introduction 1) Which of the following correctly describes incentives? A) Incentives refer to the maximum price that a buyer is willing to pay for a good. B) Incentives are rewards or penalties that motivate people to behave in a particular way. C) Incentives are prices that are fixed by the government and not by market forces. D) Incentives refer to the minimum […]
13.1 Measuring the Unemployment Rate, the Labor Force Participation Rate, and the Employment-Population Ratio 1) Due to slowing growth in China and other developing countries, Caterpillar ________ the number of persons it employed in 2013 and this ________ the total number of persons unemployed in the economy. A) decreased; increased B) decreased; decreased C) increased; decreased D) increased; increased 2) The […]
2.1 Production Possibilities Frontiers and Opportunity Costs 1) Scarcity A) stems from the incompatibility between limited resources and unlimited wants. B) can be overcome by discovering new resources. C) can be eliminated by rationing products. D) is a bigger problem in market economies than in socialist economies. 2) Tesla Motors manufacturers its cars at a plant in Fremont, California. At this plant, Tesla is […]
PART I — MULTIPLE CHOICE (28 points) Instructions: Designate the best answer for each of the following questions. ____ 1.Mason Mowers had inventory of $420,000 and $444,000 on December 31, 2013, and December 31, 2014, respectively. Cost of goods sold for 2014 was $2,613,600. For what time period does Mason Mowers hold its inventory, on average before selling it? a. 6.1 days b. 60.3 […]
11) Which of the following statements best describes the concept of consumer surplus? A) “Safeway was having a sale on Dreyer’s ice cream so I bought 3 quarts.” B) “I was all ready to pay $300 for a new leather jacket that I had seen in Macy’s but I ended up paying only $180 for the same jacket.” C) “I paid $130 for […]
111) An annually balanced government budget would tend to A) accentuate the swings in national income that accompany changes in autonomous expenditure flows. B) increase national income in response to changes in autonomous expenditure flows. C) reduce national income in all circumstances. D) reduce national income in response to changes in autonomous expenditure flows. E) reduce the swings in national income that accompany changes […]
31.In which of the following salts would both the positive ion and the negative ion hydrolyze when the salt is dissolved in water? a.NaCl b.NaCN c.NH4Cl d.more than one correct response e.no correct response 32.A buffer is a substance or combination of substances whose presence in an aqueous solution will a.maintain a constant salt concentration b.convert all weak acids to […]
61.Characterize the effect that changes will have on the vapor pressure and boiling point of a liquid by decreasing the external pressure on the surface of a liquid at constant temperature. a.v.p. decreases, b.p. decreases b.v.p. decreases, b.p. does not change c.v.p. does not change, b.p. does not change d.v.p. does not change, b.p. decreases 62.Characterize the effect that changes […]
71.SupposethatanAmericanopensandoperatesacandyfactoryinFinland.Thisisanexampleof
a.foreigndirectinvestment.AmericansavingisusedtofinanceFinishinvestment.
b.foreigndirectinvestment.AmericansavingisusedtofinanceAmericaninvestment.
c.foreignportfolioinvestment.AmericansavingisusedtofinanceFinishinvestment.
d.foreignportfolioinvestment.AmericansavingisusedtofinanceAmericaninvestment.
72.SupposethatanAmericancompanyopensandoperatesarestaurantinIreland.Thisisanexampleof
a.foreigndirectinvestment.AmericansavingisusedtofinanceIrishinvestment.
b.foreigndirectinvestment.AmericansavingisusedtofinanceAmericaninvestment.
c.foreignportfolioinvestment.AmericansavingisusedtofinanceIrishinvestment.
d.foreignportfolioinvestment.AmericansavingisusedtofinanceAmericaninvestment.
73.Foreignsavingisusedfordomesticinvestmentwhenforeignersengagein
a.foreigndirectinvestment.
b.foreignportfolioinvestment.
c.eitherforeigndirectinvestmentorforeignportfolioinvestment.
d.Noneoftheaboveiscorrect.
74.IfWarmWear,aU.S.manufacturerofwinterclothing,opensanewfactoryinAustria,then
a.AustrianGNPincreasesbymorethanAustrianGDP,becauseGDPincludesincomeearnedbyforeignersworkinginAustria.
b.AustrianGNPincreasesbymorethanAustrianGDP,becauseGDPexcludesincomeearnedbyforeignersworkinginAustria.
c.AustrianGNPincreasesbylessthanAustrianGDP,becauseGDPincludesincomeearnedbyforeignersworkinginAustria.
d.AustrianGNPincreasesbylessthanAustrianGDP,becauseGDPexcludesincomeearnedbyforeignersworkinginAustria.
75.SupposeaU.S.automakerbuildsandoperatesanewfactoryinItaly.Futureproductionfromsuchaninvestmentwill
a.increaseItalianGDPmorethanitincreasesItalianGNP.
b.increaseItalianGNPmorethanitincreasesItalianGDP.
c.havenoaffectonItalianGNP,butwillincreaseItalianGDP.
d.havenoaffectoneitherItalianGDPorGNP.
76.SupposeJapanese-basedToshibaCorporationbuildsandoperatesanewcomputerfactoryintheUnitedStates.
a.increaseU.S.GNPmorethanitincreasesU.S.GDP.
b.increaseU.S.GDPmorethanitincreasesU.S.GNP.
c.havenoaffectonU.S.GNP,butwillincreaseU.S.GDP.
d.havenoaffectonU.S.GNPorGDP.
77.TheopeningofanewAmerican-ownedfactoryinAlgeriawouldtendtoincreaseAlgeria'sGDPmorethanitincreasesAlgeria'sGNPbecause
a.someoftheincomefromthefactoryaccruestopeoplewhodonotliveinAlgeria.
b.grossdomesticproductisincomeearnedwithinacountrybybothresidentsandnonresidents,whereasgrossnationalproductistheincomeearnedbyresidentsofacountrywhileproducingbothathomeandabroad.
c.alloftheincomefromthefactoryisincludedinAlgeria'sGDP.
d.Alloftheabovearecorrect.
78.IfaJapanesecompanyopensanewfactoryinSouthKorea,itmakes
a.foreigndirectinvestment.ThefactorywillmakeabiggerimpactonSouthKorea’sGDPthanonitsGNP.
b.foreigndirectinvestment.ThefactorywillmakeabiggerimpactonSouthKorea’sGNPthanonitsGDP.
c.foreignportfolioinvestment.ThefactorywillmakeabiggerimpactonSouthKorea’sGDPthanonitsGNP.
d.foreignportfolioinvestment.ThefactorywillmakeabiggerimpactonSouthKorea’sGNPthanonitsGDP.
79.WhenChileexperiencesinvestmentfromabroad,itexperiences,asaresult,
a.anincreaseinproductivity.
b.adecreaseinGrossNationalProduct(GNP).
c.lowerwagesforChileanworkers.
d.Noneoftheaboveiscorrect.
80.IfcompaniesfromforeigncountriesbuildandoperatefactoriesinChina,thenChina’sproductivity
a.andthewagesofChineseworkersincrease.
b.increasesbutthewagesofChineseworkersdecrease.
c.decreasesbutthewagesofChineseworkersincrease.
d.andthewagesofChineseworkersdecrease.
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