Tag: Economics – Others

If the price of capital decreases, the scale effect leads a firm to:
d) Decrease output and use more labor.
b) Decrease output and use less of all normal inputs.
a) Increase output and use more of all normal inputs.
c) Increase output and use less capital.

Which of the following is the best strategy to control wheat rust?A) Fungicides to treat affected crops and planting rust-resistant varietiesB) Insulation using green roofs to limit rustC) Citrus greening to prevent the spread of rustD) Invasive insect species to attack rust

Why do proponents of building stadiums and hosting big events point to potential benefits?
A.Generating net new spending in the local economy
B.Attracting non-locals to do business in the city
C.Promoting local businesses and firms
D.Providing free entertainment for local residents

Pre-Test: Media-lierate contumers became aware of the impact of the Harry Potter books on its readers. What was that impact?

2 The balance-of-payments identity shows that the value of
Multiple Choice
the net capital inflow equals the net capital outflow.
net exports equals the net capital outflow.
payments from a country exceeds payments to a country.
imports equals exports.

As has been discussed early on in lectures, critics of government intervention in the free market in the form of consumer protection list several reasons why they feel the government should not be involved in consumer protection. Which of these is NOT one of the reasons listed?

What is a major criticism of the grand jury process noted in the book?It often functions as a rubber stamp for prosecutors.It frequently exonerates guilty defendants.It allows defense attorneys too much access.It requires unanimous votes, leading to gridlock.

Multiple Choice
wage rates and per-unit production costs rise
a decrease in business taxes
a decrease in the price of imported resources
A large reserve of rare earth is discovered in the U.S.
In the accompanying graph, which of the following factors will shift AS1 to AS3?

Which of these two fires started within a few minutes of each other on 8 October 1871?
Group of answer choices
the Rome and San Francisco fires
the Oakland and San Francisco fire
the Peshtigo and Chicago fire
the Chicago and San Francisco fire
the Peshtigo and San Francisco fires

Consider the following two statements:Statement 1) Goods with more substitutes tend to be more elastic than goods with fewer substitutes.Statement 2) Goods that are a larger part of a consumer’s budget tend to be less elastic than goods that are a small part of their budget.