Questions from General Economics


Q: Which is a better indicator of growth in job opportunities: an

Which is a better indicator of growth in job opportunities: an increase in nominal GDP or real GDP?

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Q: Is it possible for real GDP to increase and there to be

Is it possible for real GDP to increase and there to be no increase in employment?

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Q: Determine the effect on GDP for the following. a.

Determine the effect on GDP for the following. a. Consumption increases. b. Government spending falls.

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Q: What causes the business cycle? Answer:

What causes the business cycle?

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Q: What can you say about the price of campus parking permits if

What can you say about the price of campus parking permits if there never seems to be enough places to park even when you have a permit?

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Q: Who does the demanding and the supplying in the labor market?

Who does the demanding and the supplying in the labor market? The loanable funds market?

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Q: Is the price system a "just" or "fair"

Is the price system a "just" or "fair" way to allocate products? What about medical services?

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Q: What can we say about the demand and supply curves for products

What can we say about the demand and supply curves for products which are "free", like matches, toothpicks, and kittens?

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Q: Why do you think "rock" stars charge concert ticket prices

Why do you think "rock" stars charge concert ticket prices below what they could charge and still sell out their performances?

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Q: a. Construct the cost schedule using the data below for a

a. Construct the cost schedule using the data below for a firm operating in the short run. b. Graph the average variable cost, average total cost, and marginal cost curves.

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