If a firm is successful in its efforts to reduce the price elasticity of demand for its product, all else constant, the optimal markup that can be used in setting price will increase. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
For a commodity to function effectively as money it must be A) easily standardized, making it easy to ascertain its value. B) difficult to make change. C) deteriorate quickly so that its supply does not become too large. D) hard to carry around. ANSWER A
Date: September 10th, 2020
By shutting down when price is less than average variable cost at the profit-maximizing level of output, a perfectly competitive firm will limit its losses to its: A) total variable costs. B) total costs. C) total fixed costs. D) marginal costs. ANSWER C
Date: September 10th, 2020
Refer to Scenario 1. What is the total sum of squares? A) 3860.8 B) 3718.9 C) 141.9 D) None of the above. ANSWER A
Date: September 10th, 2020
Institutions that accept deposits from individuals and organizations, against which depositors can write checks on demand for their market transactions and that use these deposits to make loans are called: A) depository institutions. B) financial market institutions. C) insurance companies. D) none of the above. ANSWER A
Date: September 10th, 2020
Large denomination time deposits are included in: A) M1. B) M2. C) M3. D) L. ANSWER C
Date: September 10th, 2020
Because unemployment is a macroeconomic topic, an increase in unemployment would not be expected to have any impact on the equilibrium price or quantity in the market for an individual good. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
In a multiple regression problem involving two independent variables, if b1 is computed to be +2.0, it means that: A) the relationship between X1 and Y is significant. B) the estimated value of Y increases by an average of 2 units for each increase of 1 unit of X1, holding X2 constant. C) the estimated […]
Date: September 10th, 2020
There is a ________ association between inflation and the growth rate of money ________. A) positive; demand B) positive; supply C) negative; demand D) negative; supply ANSWER B
Date: September 10th, 2020
The action taken by a country’s central bank to prevent balance of payments policies from influencing the country’s domestic money supply is called a: A) fiscal policy intervention. B) monetary policy intervention. C) sterilized intervention. D) non-sterilized intervention. ANSWER C
Date: September 10th, 2020
