Questions from General Economics

Q: 2.1. Arrows up or down: An increase in

2.1. Arrows up or down: An increase in the wage the opportunity cost of leisure time, which tends to leisure time and labor time. 2.2. Arrows up or down: An increase in the wa...

Q: 1.1. The income-expenditure model is most appropriate

1.1. The income-expenditure model is most appropriate for long-run analysis. _________ (True/False) 1.2. Equilibrium output occurs when real output equals planned expenditures. _________ (True/False)...

Q: A.1. ____________ and ____________ are the two factors that

A.1. ____________ and ____________ are the two factors that determine how the stock of capital changes over time. A.2. Which of the following causes capital deepening to come to an end? a. The margi...

Q: 4.1. Professors Don _________ and Franco _________ developed the

4.1. Professors Don _________ and Franco _________ developed the adjustment-process model used in this chapter. 4.2. Keynes’s objection to Say’s law was that it is possible for demand to create its o...

Q: 1.1. The dollar against the euro when the European

1.1. The dollar against the euro when the European central bank lowers interest rates. 1.2. If the dollar appreciates against the euro, then the euro also against the dollar. 1.3. The price of one c...

Q: 1.1. To compute the price elasticity of demand,

1.1. To compute the price elasticity of demand, we divide the percentage change in _________ by the percentage change in _________ and then take the value of the ratio. 1.2. If a 10 percent increase...

Q: 3.1. The key region of the brain for the

3.1. The key region of the brain for the valuation of benefits is the . 3.2. In the dopamine learning system, learning happens when the about the pleasure from a product are (correct/wrong). 3.3. The...

Q: 1.1. The firm-specific demand curve shows the

1.1. The firm-specific demand curve shows the relationship between the charged by the firm and the by the firm. 1.2. Consumers do not have a strong preference for the output of one seller over that o...

Q: 3.1. A patent increases the incentive to develop new

3.1. A patent increases the incentive to develop new products because it the price of the product and thus generates profit to cover a firm’s costs of . 3.2. In some cases, a patent is...

Q: 5.1. For each of the following pairs of population

5.1. For each of the following pairs of population groups, indicate which group has a higher poverty rate: a. white vs. Hispanic b. white vs. Asian c....