strayer university eco550 midterm part 1 and part 2

strayer university eco550 midterm part 1 and part 2

Question # 00010731 Posted By: spqr Updated on: 03/23/2014 06:24 AM Due on: 04/30/2014
Subject Economics Topic General Economics Tutorials:
Question
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· n 1

4 out of 4 points

Income tax payments are an example of ____.

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· Question 2

4 out of 4 points

The primary objective of a for-profit firm is to ___________.

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· Question 3

4 out of 4 points

To reduce Agency Problems, executive compensation should be designed to:

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· Question 4

4 out of 4 points

Possible goals of Not-For-Profit (NFP) enterprises include all of the following EXCEPT:

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· Question 5

4 out of 4 points

Economic profit is defined as the difference between revenue and ____.

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· Question 6

0 out of 4 points

The moral hazard in team production arises from

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· Question 7

4 out of 4 points

The primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are:

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· Question 8

4 out of 4 points

The approximate probability of a value occurring that is greater than one standard deviation from the mean is approximately (assuming a normal distribution)

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· Question 9

4 out of 4 points

The ____ is the ratio of ____ to the ____.

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· Question 10

4 out of 4 points

A change in the level of an economic activity is desirable and should be undertaken as long as the marginal benefits exceed the ____.

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· Question 11

4 out of 4 points

Based on risk-return tradeoffs observable in the financial marketplace, which of the following securities would you expect to offer higher expected returns than corporate bonds?

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· Question 12

4 out of 4 points

An closest example of a risk-free security is

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· Question 13

4 out of 4 points

Marginal revenue (MR) is ____ when total revenue is maximized.

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· Question 14

4 out of 4 points

A price elasticity (ED) of ?1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____.

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· Question 15

4 out of 4 points

If demand were inelastic, then we should immediately:

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· Question 16

4 out of 4 points

Those goods having a calculated income elasticity that is negative are called:

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· Question 17

4 out of 4 points

An income elasticity (Ey) of 2.0 indicates that for a ____ increase in income, ____ will increase by ____.

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· Question 18

0 out of 4 points

The factor(s) which cause(s) a movement along the demand curve include(s):

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· Question 19

4 out of 4 points

Which of the following would tend to make demand INELASTIC?

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· Question 20

4 out of 4 points

The standard deviation of the error terms in an estimated regression equation is known as:

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· Question 21

4 out of 4 points

In which of the following econometric problems do we find Durbin-Watson statistic being far away from 2.0?

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· Question 22

4 out of 4 points

When using a multiplicative power function (Y = a X1b1 X2b2 X3b3) to represent an economic relationship, estimates of the parameters (a, and the b's) using linear regression analysis can be obtained by first applying a ____ transformation to convert the function to a linear relationship.

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· Question 23

4 out of 4 points

The method which can give some information in estimating demand of a product that hasn’t yet come to market is:

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· Question 24

0 out of 4 points

Demand functions in the multiplicative form are most common for all of the following reasons except:

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· Question 25

4 out of 4 points

The Identification Problem in the development of a demand function is a result of:

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· n 1

0 out of 4 points

The use of quarterly data to develop the forecasting model Yt= a +bYt?1 is an example of which forecasting technique?

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· Question 2

4 out of 4 points

Time-series forecasting models:

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· Question 3

4 out of 4 points

Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example?

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· Question 4

4 out of 4 points

Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?

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· Question 5

0 out of 4 points

Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast.

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· Question 6

4 out of 4 points

The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as:

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· Question 7

4 out of 4 points

In an open economy with few capital restrictions and substantial import-export trade, a rise in interest rates and a decline in the producer price index of inflation will

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· Question 8

4 out of 4 points

In a recession, the trade balance often improves because

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· Question 9

4 out of 4 points

An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?

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· Question 10

4 out of 4 points

If the British pound (?) appreciates by 10% against the dollar:

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· Question 11

0 out of 4 points

European Union labor costs exceed U.S. and British labor costs primarily because

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· Question 12

4 out of 4 points

Purchasing power parity or PPP says the ratios composed of:

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· Question 13

0 out of 4 points

Trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because

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· Question 14

4 out of 4 points

Given a Cobb-Douglas production function estimate of Q = 1.19L.72K.18 for a given industry, this industry would have:

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· Question 15

4 out of 4 points

Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____.

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· Question 16

4 out of 4 points

The marginal rate of technical substitution may be defined as all of the following except:

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· Question 17

4 out of 4 points

The primary purpose of the Cobb-Douglas power function is to:

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· Question 18

4 out of 4 points

The marginal product is defined as:

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· Question 19

0 out of 4 points

Which of the following is never negative?

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· Question 20

4 out of 4 points

____ are defined as costs which are incurred regardless of the alternative action chosen in a decision-making problem.

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· Question 21

4 out of 4 points

Economies of Scope refers to situations where per unit costs are:

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· Question 22

4 out of 4 points

For a short-run cost function which of the following statements is (are) not true?

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· Question 23

0 out of 4 points

If TC = 321 + 55Q - 5Q2, then average total cost at Q = 10 is:

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· Question 24

0 out of 4 points

The existence of diseconomies of scale (size) for the firm is hypothesized to result from:

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· Question 25

4 out of 4 points

The cost function is:

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  1. spqr
    Tutorial # 00010307 Posted By: spqr Posted on: 03/23/2014 06:25 AM
    Puchased By: 3
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