Or
Visit Our website
What kinds of changes in underlying conditions can
cause the supply and demand curves to shift? Give examples and explain the
direction in which the curves shift.
Monday, 29 July 2013
ECO 561 Chapter 8 Quiz
Or
Visit Our website
Question 1
The direct exchange of goods and services for other
goods and services is
Question 2
Question 3
The equation for M2 is
Question 4
A loan made by a bank is considered ________ of that
bank.
Question 5
Bank One has $100 million in reserves. Bank One is
meeting its reserve requirement and has no excess reserves. The required
reserve ratio is 20%. Bank One's demand deposits are
Question 6
Banks can create money
Question 7
Assume that banks become more conservative in their
lending policies, and start holding some excess reserves. Compared to a
situation in which banks are not holding excess reserves, the size of the money
multiplier will be
Question 8
The interest rate banks pay to borrow money from the
Fed is the
ECO 561 Chapter 7 Quiz
Or
Visit Our website
Question 1
A recession is marked by ______________ output and
________ unemployment.
Question 2
To be classified as unemployed, an individual who is
sixteen years of age or older
Question 3
The unemployment rate
Question 4
The decline in the measured unemployment rate that
results when people who want to work but cannot find work stop looking for jobs
and then drop out of the ranks of the unemployed and the labor force is known
as
Question 5
The sum of frictional and structural unemployment is
thought of as the
Question 6
Cyclical unemployment is the
Question 7
The difference between the interest rate on a loan
and the inflation rate is the
Question 8
If discouraged workers were counted as unemployed,
the measured unemployment rate would increase.
ECO 561 Chapter 6 Quiz
Or
Visit Our website
Question 1
Which of the following is NOT included in 1994's
GDP?
Question 2
Which of the following would be counted in the GNP
of the United States, but not the GDP of the United States?
Question 3
The equation for GNP using the expenditure approach
is
Question 4
When calculating GDP, exports are _________________
and imports are ______________.
Question 5
The largest income component of GDP is
Question 6
Nominal GDP is gross domestic product measured
Question 7
The products produced by U.S. citizens when those
citizens are working abroad for a foreign company are not counted in the U.S.
GNP.
Question 8
The income received by households before paying
personal income taxes but after paying social insurance contributions is
ECO 561 Chapter 5 Quiz
Or
Visit Our website
Question 1
The demand for lumber decreased in August. Supply of
lumber has remained constant and five months later there still has been no
change in lumber prices. This is an example of
Question 2
A group of Senators introduce legislation that would
subsidize employers' hiring of recent high school graduates. This legislation
is designed to stimulate the economy. This legislation is in line with
Question 3
Fine tuning refers to
Correct: The government's part in controlling rising
cost of living as well as joblessness.
Question 4
The percentage of the labor force that is unemployed
is the
Question 5
The diagram that shows the income received and
payments made by each sector of the economy is the
Question 6
The demanders in the goods-and -services market are:
Question 7
Aggregate supply is the total amount
Question 8
According to Keynes, the level of employment is
determined by wages and prices.
ECO 561 Chapter 3 Quiz
Or
Visit Our website
CHAPTER 3 QUIZ
Question 1
The demand curve facing each wool producer is ________
starting at $3.00 per pound
Question 2
If a firm in a perfectly competitive industry raises
price above market price,
Question 3
The fast food industry is not considered perfectly
competitive because:
Question 4
You are certain that a normal rate of profit is 18%
for the fast-food industry. What is your estimate of a normal rate of profit in
the computer software industry, which is considered to be much riskier than the
computer industry?
Question 5
Situation 1:
You are the owner an only employee of a company that
writes computer software that is used by doctors to bill patients. Last year
you earned a total revenue of $90,000. Your costs for equipment, rent, and
supplies were $60,000. To start this business you quit a job at another
computer software firm that paid $40,000 a year.
A yearly normal profit for your computer software
firm would be
Question 6
The marginal product of the second worker is.
Question 7
Demand for the product of an industry in perfect
competition is assumed to be inelastic.
Question 8
If the first worker produces five custom picture
frames a day, and the second worker produces five additional custom picture
frames a day, it is clear that diminishing marginal returns have set in.
ECO 561 Chapter 2 Quiz
Or
Visit Our website
CHAPTER 2 QUIZ
Question 1
The equilibrium $price is ___ and the equilibrium
quantity is ___
Question 2
At what price would there be an excess demand of
125?
Question 3
If the supply curve shifts to the left, which of the
following will be true?
Question 4
If the government sets a ceiling price of $3, which
of the following is not likely to happen.
Question 5
The current price of Thanksgiving bonnets is $20.
The quantity demanded is 2000 and the quantity supplied is 1500. If the price
is allowed to adjust to equilibrium the equilibrium quantity of bonnets
supplied will be greater than 1500. Which of the following factors is
definitely not associated with this change?
Question 6
Questions 6 and 7 refer to the figure below.
The U.S. would import rubber chickens if the world
price was
Question 7
What world price will lead the US to export rubber
chickens?
Question 8
In some markets, the supply of a product is fixed
independently of the price. For example, there is only one Mona Lisa painting,
and the supply of these paintings will not change when the price changes. In
these markets there will always be shortages. True or False?
Subscribe to:
Posts (Atom)