Tag: Economics – Others

Which of the following statement(s) regarding money is/are correct?
Question 20 options:
a) medium of exchange – an asset used as payment when purchasing goods/services

An individual has the utility function U(x,Y)=2x-Y. Suppose x costs$5 and Y costs $10, and the individual’s income is $100.This individual will purchaseof x andof Y.

A firm sets its output where
Question 7 options:
marginal profit is zero.
marginal revenue is maximized.
marginal profit equals marginal revenue.
marginal profit is maximized.

As the federal marginal tax rate rises, the advantage of municipal bonds over corporate bondsGroup of answer choices​is eliminated.​remains unchanged.decreases.​increases.
Answer choices
is eliminated.
remains unchanged.
decreases.
increases.

A _____ is defined as a common unit for measuring the value of each good or service.
Question 16 options:
commodity
money
a store of value
unit of account
medium of exchange

A country’s communications, transportation, financial, and distribution systems together are known as itsregulatory structureeconomic infrastructurepolitical systemeconomy

Assume that a price floor of $1000 has been implemented and that there are no wasteful quality improvements. What is total consumer surplus with a price floor of $1000?

(Advanced analysis) The demand for commodity x is represented by the equation P=10-0.2Q and supply by the equation P=2+0.2Q. The equilibrium quantity is Multiple Choice

A virtual company uses​ ________ to link​ people, assets, and ideas.
A. economics
B. synergies
C. enterprise systems
D. digital firms
E. networks

Federal funds provided to states for a broad purpose and unrestricted by detailed requirements are called
self-improvement grants
limited grants
categorical grants
block grants