21) The figure above shows Firm X. The firm is a monopolistically competitive market. The firm makes an ________ in the short run but will ________ in the long run. A) economic loss of $10 per unit; go out of business or make a zero economic profit B) economic loss of $2 per unit; make an economic profit C) economic profit $10 per unit; […]
51) Refer to Figure 32-1. For the given budget deficit function in the diagram, the government will have a budget surplus if A) 1 only B) 2 only C) 3 only D) 1 or 2 or 3 E) 2 or 3 only 52) Refer to Figure 32-2. Initially, suppose that real GDP is $100 million and the budget deficit is $14 million, as shown […]
3.For each transaction numbered 1 through 4 below, identify which effect (a through f) the transaction is most likely to cause. You may use each letter more than once or not at all. Effects a. Increase in current ratio and earnings per share b. Decrease in current ratio and earnings per share c. Does NOT change the current ratio; increases […]
81) Soda and peanuts are complements. Other influences on buying plans remaining the same, a rise in the price of soda A) increases the demand for peanuts. B) decreases the demand for peanuts. C) decreases the demand for soda. D) increases the demand for soda. E) has no effect on the demand for peanuts, though it does change the quantity demanded of peanuts. […]
21) Which of the following correctly describes a final good? i.A final good is bought by its final consumer. ii.A final good can be used by a firm as a component of another good or service. iii.Investment goods cannot be a final good. A) i only B) i and ii C) i, ii and iii D) i and iii E) ii and iii […]
66.Radial Fuel Cells experienced the following costs in 2014 (Assume the same unit costs in all years): Direct materials$4 per unit Direct labor$8 per unit Manufacturing Overhead Costs Variable$2 per unit Fixed$150,000 Selling & Administrative Costs Fixed selling$30,000 Variable selling$1 per unit Fixed administrative$20,000 During the year, the company manufactured 50,000 units and sold 45,000 units. Beginning inventory is zero. If […]
41) One heavy metal that can cause denaturation of a protein is A) silver. B) sodium. C) barium. D) iron. E) calcium. 42) Heavy metals denature proteins by A) releasing amino acids. B) disrupting hydrophobic interactions. C) changing the pH of the protein solution. D) changing the temperature of the protein solution. E) disrupting disulfide bonds. 43) An acid can denature a protein by […]
1.Pressures for cost reductions and local responsiveness include: a.The framework of how to simultaneously deal with these two sets of pressures. b.Host country demands and expectations. c.Being locally responsive makes local customers and governments happy but increase costs. d.All of the above. e.None of the above. 2.Four strategic choices for MNEs do not include: a.Home replication. b.Domestic. c.Multidomestic. d.Transnational. e.Global. 3.Multidomestic strategy involves all […]
Exhibit 15-1 You are working to forecast the cash disbursements for a manufacturing company. Sales are forecasted to be $175,000, $200,000, $225,000, and $250,000 for January, February, March, and April, respectively. The firm purchases 25% of each amount in cash and will then pay 70% of the credit purchase in the month following the purchase with the remainder paid in full two months […]
5.2 Measuring U.S. GDP 1) In order to measure gross domestic product, we can follow A) only one approach: the circular flow approach. B) only one approach: the national accounts approach. C) two approaches: the expenditure approach and the income approach. D) three approaches: the expenditure approach, the income approach, and the production approach. E) three approaches: the expenditure approach, the income approach, […]
51) A student at New York University used to take the Redhound bus when she visited her grandmother in Boston. After graduating, although the bus fare and the plane fare were the same as they were when she was a student with a well-paid job on Wall Street, she now takes the plane to Boston to visit her grandmother. For this student, travel by Redhound bus is
A) a normal good.
B) an inferior good.
C) a substitute good.
D) a complement good.
E) a good with negative preferences.
52) If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are
A) a normal good.
B) an inferior good.
C) a substitute for camcorders.
D) a complement to camcorders.
E) made using advanced technology.
53) Lesley buys 6 cappuccinos per week when her income is $900 per week and buys 8 cappuccinos per week when her income is $1100 per week. For Lesley, cappuccinos are a(n) ________ good.
A) normal
B) luxury
C) inferior
D) substitute
E) essential
54) If the demand for a good increases when people's incomes increase,
A) the good is an inferior good.
B) the law of demand is violated.
C) the good's demand curve must be slope upward.
D) the good is a normal good.
E) the good is a substitute good for an inferior good.
55) In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?
A) The demand curve would shift leftward.
B) The demand curve would not shift, but the price of dining out would rise.
C) The effect on the demand curve is unknown.
D) The demand curve would shift rightward.
E) The demand curve would not shift, but the price of dining out would fall.
56) If macaroni and cheese is an inferior good, then a decrease in income results in
A) an increase in the demand for macaroni and cheese.
B) a decrease in the demand for macaroni and cheese.
C) an increase in the supply of macaroni and cheese.
D) a decrease in the supply of macaroni and cheese.
E) Both answers A and D are correct.
57) If income increases and the demand for bus rides decreases,
A) bus rides are a normal good.
B) consumers are behaving irrationally.
C) bus rides are an inferior good.
D) bus rides are a substitute good.
E) bus rides must be a complement good with some other good.
58) Which of the following is true?
A) For an inferior good, when income increases, the demand curve shifts leftward.
B) If the price of a substitute rises, the demand curve shifts leftward.
C) If people expect the price of a good will rise in the future, the demand curve shifts leftward.
D) An increase in population shifts the demand curve leftward.
E) An increase in the cost of producing a good shifts the demand curve leftward.
59) Ramen noodles are a staple food item for many college students. Ramen noodles are very inexpensive, easy to prepare, and can be combined easily with other foods. After students graduate, find employment, and earn a higher income, they decrease their Ramen noodle purchases significantly. In this case, Ramen noodles are
A) a normal good.
B) an inferior good.
C) a complement for higher income people.
D) a substitute good.
E) None of the above answers is correct.
60) Water bottlers announce that next month the price of bottled water will rise by 25 percent. Which of the following occurs immediately?
A) The quantity of bottled water demanded increases.
B) The quantity of bottled water demanded decreases.
C) The demand for bottled water decreases.
D) The demand for bottled water increases.
E) None of the above answers is correct because it is the supply that immediately changes, not the demand.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more