Tag: Economics – Others

In Gibbons v. Ogden (1824), the Supreme Court interpreted the meaning of which constitutional power of Congress?
establishing a national bank
taxation
defense
regulating commerce between the states

The average cost curve
a. Lies below the AFC curve
b. Lies below the AVC curve
c. Is the vertical summation of the MC and the AVC curves
d. Is the vertical summation of the AFC and the AVC curves

Suppose that the average growth rate of the economy has been 1%. Given a forecast of 4% growth this year, if rational expectations hold, then the expected forecast error is negative 3%

Multiple Choice Question: If goods x and Y are the two goods in your consumption bundle, you will maximize utility from your available income if you allocate your funds such that

Which of the following exchange rate systems is best suited for a country with tradeconcentrated with one major country?
Fixed exchange qnte
Floating exchange rate
Currency standrard
Managed floating

the differences between accounting profit and economic profit.
2. What does it mean when a company makes zero accounting profit?
3. What does it mean when a company makes zero economic profit?

which does NOT belong in GDP?
an. apple purchased by a restaurant to make apple pies
b. police salaries in Toledo, Ohio
c. salaries for government employees
d. tractors purchased by a farmer

Which of the following go together?
A. Pearson Airport in Toronto
B. capital; Pacific Rim National Park
C. labour; the owner of your local radio station
D. entrepreneurship; Mark Zuckerberg

Consider the following IS-LM model_C=500+0.8(Y-T); T=500; I=700-20r; G=400;M=3000; M =Y-50r; P=1.what is the equilibrium level of consumption?Select one:a. 3300b. 500c. none of the above.d. 3700

If the price elasticity of demand is 1, and a firm raises its price by 23 percent, then total revenue will
Multiple Choice
rise by 23 percent.
rise by 100 percent.
not change.
fall by 23 percent.