Tag: Economics – Others

Question: 5. Solve the utility maximization problem for a consumer with the following preferences (for full credit you must show your work and state

(I) If the unemployment rate is 8 percent, the unemployed number of people is 1000, α=5 percent and the output gap is 200 then what is inflation deviation? (5 points)

The notion that the United States is actually a “sham democracy” fits with which of the following perspectives?Majority ruleElite theoryTotalitarianismPopular sovereignty
Majority rule
Elite theory
Totalitarianism
Popular sovereignty

Starting in the 1960s, equal employment opportunity (EEO) laws were passed in the U.S. to restrict sex discrimination, aswell as other types of discriminationTrueFalse

The coefficient of correlation
is the same as the coefficient of determination.
cannot be larger than 100.
cannot be larger than 1.
cannot be negative.

Question 5
The situation where a country can produce a good at a lower opportunity cost than another country is called a(n) advantage.
transitory
permanent
absolute
comparative

Which of the following mechanisms is unfair?
Market
Random
All of these are unfair in a sense; it depends on the incentives each creates.
Government
First-come, first-served.

Question 210. 75 pts
As a result of trade, Joan and Leslie together can consume q, milk compared to what they consumed, combined, in autarky.

John Locke and Adam Smith helped shape this theoretical movement.
Question 12 options:
1) Classical liberalism
2) Marxism
3) Modern liberalism
4) Traditional conservatism

Question 90
In the United States, government-imposed price supports are most often associated with
consumer electronics
agricultural products
industrial products