3.2  Optimization in Levels 1) To carry out an optimization analysis: A) different types of costs are measured in different units. B) only direct costs incurred in a project are to be estimated. C) only indirect costs incurred in a project are to be estimated. D) all costs are required to be converted to a same unit of measurement. 2) If the opportunity cost […]

1.What do the dots in a Lewis symbol represent? A) protons B) valence electrons C) innermost (core) electrons D) the nucleus E) mass number   2.What is the Lewis symbol of the fluoride ion? A) B) C) D) E)   3.What are the two principal classes of bonding called? A) ionic bonding and nuclear bonding B) covalent bonding and hydrogen bonding C) hydrogen bonding and […]

    71. Which of the following is least liquid?  A. Foreign currency B. U.S. Treasury bonds C. Rare coins D. Savings deposit   72. Financial markets and intermediaries:  A. channel savings to real investment. B. enable investors and businesses to reduce risk. C. provide liquidity. D. all of these.   73. Which of the following functions does not require financial markets?  A. Transporting of cash across time B. Provision of liquidity C. Risk reduction by investment in diversified […]

  161.RefertoFigure3-15.IfPerryandJordanswitchfromeachpersondividingtheirtimeequallybetweentheproductionofnovelsandpoemstoeachpersonspendingalloftheirtimeproducingthegoodinwhichtheyhaveacomparativeadvantage,thentotalproductionofnovelswillincreaseby a.1. b.2. c.3. d.4. 162.RefertoFigure3-15.IfPerryandJordaneachspendsallofhis/hertimeproducingthegoodinwhichs/hehasacomparativeadvantageandtradetakesplaceatapriceof1novelfor7poems,then a.PerryandJordanwillbothgainfromthistrade. b.Perrywillgainfromthistrade,butJordanwillnot. c.Jordanwillgainfromthistrade,butPerrywillnot. d.neitherPerrynorJordanwillgainfromthistrade. Figure3-16     Hosne’sProductionPossibilitiesFrontierMerve’sProductionPossibilitiesFrontier   163.RefertoFigure3-16.Hosne’sopportunitycostofonepurseis a.4/5walletandMerve’sopportunitycostofonepurseis2/3wallet. b.4/5walletandMerve’sopportunitycostofonepurseis3/2wallets. c.5/4walletsandMerve’sopportunitycostofonepurseis2/3wallet. d.5/4walletsandMerve’sopportunitycostofonepurseis3/2wallets. 164.RefertoFigure3-16.Hosne’sopportunitycostofonewalletis a.4/5purseandMerve’sopportunitycostofonewalletis2/3purse. b.4/5purseandMerve’sopportunitycostofonewalletis3/2purses. c.5/4pursesandMerve’sopportunitycostofonewalletis2/3purse. d.5/4pursesandMerve’sopportunitycostofonewalletis3/2purses. 165.RefertoFigure3-16.Hosnehasanabsoluteadvantageintheproductionof a.pursesandMervehasanabsoluteadvantageintheproductionofwallets. b.walletsandMervehasanabsoluteadvantageintheproductionofpurses. c.bothgoodsandMervehasanabsoluteadvantageintheproductionofneithergood. d.neithergoodandMervehasanabsoluteadvantageintheproductionofbothgoods. 166.RefertoFigure3-16.Hosnehasacomparativeadvantageintheproductionof a.pursesandMervehasacomparativeadvantageintheproductionofwallets. b.walletsandMervehasacomparativeadvantageintheproductionofpurses. c.bothgoodsandMervehasacomparativeadvantageintheproductionofneithergood. d.neithergoodandMervehasacomparativeadvantageintheproductionofbothgoods. 167.RefertoFigure3-16.Hosneshouldspecializeintheproductionof a.purses. b.wallets. c.bothgoods. d.neithergood. 168.RefertoFigure3-16.Merveshouldspecializeintheproductionof a.purses. b.wallets. c.bothgoods. d.neithergood. 169.RefertoFigure3-16.IfHosneandMerveswitchfromeachpersondividinghertimeequallybetweentheproductionofpursesandwalletstoeachpersonspendingallofhertimeproducingthegoodinwhichshehasacomparativeadvantage,thentotalproductionofpurseswillincreaseby a.2. b.3. c.5. d.10. 170.RefertoFigure3-16.AtwhichofthefollowingpriceswouldbothHosneandMervegainfromtradewitheachother? a.5walletsfor1.25purses b.5walletsfor2.5purses c.5walletsfor3.75purses d.HosneandMervecouldnotbothgainfromtradewitheachotheratanyprice. Figure3-17     Maxine’sProductionPossibilitiesFrontierDaisy’sProductionPossibilitiesFrontier           […]

  68.If the law of one price holds and the price of an apple in the U.S. is $1.50 while the price of an apple in Japan is ¥174.00, then what should the spot exchange rate for ¥/$ be? a..0086 b..5747 c.116.00 d.none of the above 69.If the law of one price holds and the price of a Big Mac in the U.S. is $1.99 […]

    11.1   Demand and Marginal Revenue for a Firm in a Monopolistically Competitive Market   1) One reason why the coffeehouse market is competitive is that A) demand for specialty coffee is very high. B) it is trendy and therefore is likely to have a customer following. C) barriers to entry are low. D) consumption takes place in public.   2) The reason that […]

    11) Increases in autonomous expenditure induce ________ in aggregate expenditure thereby making the multiplier ________. A) further increases; greater than one B) further increases; less than one C) a decrease; greater than one D) a decrease; less than one E) further increases; unnecessary   12) If investment increases by $100, then the aggregate expenditure model concludes that equilibrium expenditure A) increases by $100. […]

    11) Workforce diversity can most likely enhance organizational effectiveness by: A) reducing training costs and improving quality. B) decreasing communications problems and conflicts. C) creating greater human resource system stability. D) increasing creativity and improving problem solving. 12) Colgate’s rise to the top spot in the oral care market is primarily considered a result of: A) product development teams focusing on aging populations. […]

  21.Whichofthefollowingiscorrect? a.TheBureauofLaborStatisticsusesdatacollectedfromthoseapplyingforunemploymentinsurancetocomputetheunemploymentrate. b.Thelaborforceincludesalladultswhoareabletowork. c.Unpaidhomemakersarecountedas“employed”bytheBureauofLaborStatistics. d.Peopleworkingparttimearecountedas“employed”bytheBureauofLaborStatistics. 22.FortheBureauofLaborStatisticstoplacesomeoneinthe“unemployed”category,thatpersonmust a.beavailableforwork. b.havetriedtofindemploymentduringthepreviousweek. c.havepreviouslybeenemployed. d.Alloftheabovearecorrect. 23.FortheBureauofLaborStatisticstoplacesomeoneinthe“unemployed”category,thatpersonmust a.haveworkednomorethan10hoursduringthepastweek.. b.havetriedtofindemploymentduringthepreviousyear. c.nothavebeenlaidoff. d.Noneoftheaboveiscorrect. 24.WhichofthefollowingisarequirementfortheBureauofLaborStatisticstoplacesomeoneinthe“unemployed”category? a.Thepersonmusthaveworkednomorethan10hoursduringthepastweek. b.Thepersonmusthavetriedtofindemploymentduringthepreviousfourweeks. c.Thepersonmaynothavebeenlaidoff. d.Alloftheabovearecorrect. 25.WhichofthefollowingincludeseveryoneintheadultpopulationthattheBureauofLaborStatisticscountsas“unemployed”? a.anyonewhoisnotemployed b.anyonewhoisnotemployed,isavailableforwork,andhaslookedforworkinthepastfourweeks c.anyonewhoisnotemployed,isavailableforwork,haslookedforworkinthepastfourweeks,andanyonewhoiswaitingtoberecalledfromajobfromwhichtheyhavebeenlaidoff d.anyonewhoisnotemployed,isavailableforwork,haslookedforworkinthepastfourweeks,anyonewhoiswaitingtoberecalledfromajobfromwhichtheyhavebeenlaidoff,andanyonewhoisemployedparttimeandhassearchedforfulltimeemploymentinthepast4weeks 26.Whoofthefollowingiscountedas“unemployed”bytheBureauofLaborStatistics? a.someoneworkingwithoutpayforafamilymember’sbusiness b.someonewhoisabsentfromtheirjobduetoillness c.someoneontemporarylayoff d.Alloftheabovearecorrect. 27.WhoofthefollowingwouldbeincludedintheBureauofLaborStatistics’“unemployed”category? a.Miguel,whoisontemporarylayoff b.Reta,whoworkedonly15hourslastweek c.Marisa,whoneitherhasajobnorislookingforone d.Noneoftheaboveiscorrect. 28.WhoofthefollowingwouldbeincludedintheBureauofLaborStatistics’“unemployed”category? a.JuanCarlos,afull-timestudentwhoisnotlookingforwork b.Kevin,whoisontemporarylayoff c.Andrea,whohasretiredandisnotlookingforwork d.Alloftheabovearecorrect. 29.WhoofthefollowingwouldnecessarilybeincludedintheBureauofLaborStatistics’“unemployed”category? a.Huey,whodidnotworkduringthepreviousfourweeks b.Dewey,whotriedtofindnewemploymentduringthepreviousfourweeks c.Louie,whowasanunpaidworkerduringthepreviousfourweeks d.Noneoftheaboveiscorrect. 30.Whoamongthefollowingwouldbecountedas“unemployed”? a.Shasta,whoiswaitingtoberecalledtoajobfromwhichshehasbeenlaidoff. b.Karen,whoneitherhasajobnorislookingforone. c.Mary,whoworkedonly35hourslastweek. d.Noneoftheaboveiscorrect.    

  31) In the circular flow model with the government sector, taxes A) flow in the opposite direction as do transfers. B) flow in the same direction as do transfers. C) on households flow in the same direction as do the goods and services. D) on firms flow in the same direction as do factors of production. E) flow from the goods market to the […]