All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
economics 14th global

Questions and Answers of Economics 14th Global

a checking account at a bank or other financial institution that can be drawn on to make payments Match each term with its correct definition by placing the appropriate letter next to the
rotating savings and credit associations Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. money K. Eurocurrency market B. liquid asset
a currency held by a government to settle international debts Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. money K. Eurocurrency
an asset that can easily be exchanged for goods and services Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. money K. Eurocurrency
a system in which banks keep less than 100 percent of the deposits available for withdrawal Match each term with its correct definition by placing the appropriate letter next to the corresponding
a division of a U.S. bank that is allowed to receive deposits from and make loans to nonresidents of the United States without the restrictions that apply to domestic U.S. banks Match each term with
a federal agency that insures deposits in commercial banks Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. money K. Eurocurrency
anything that is generally acceptable to sellers in exchange for goods and services Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A.
the cash reserves (a percentage of deposits) a bank must keep on hand Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. money K.
the market for deposits and loans generally denominated in a currency of a country other than that in which the transaction occurs Match each term with its correct definition by placing the
the most popular instrument for financing Islamic investments Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. money K. Eurocurrency
Total revenue is the quantity sold multiplied by the price at which each unit sold. appendix
Average revenue (per-unit revenue) is the total revenue divided by the number of units sold. appendix
Marginal revenue is the incremental revenue, the additional revenue obtained by selling one more unit of output. appendix
Average revenue is the same as price. appendix
How do firms make money? appendix
What happens to sales when the price of a good or service changes? appendix
Firms utilize several methods to gather information about their customers, that is, to learn about demand. appendix
Surveys, opinion polls, telemarketing, and focus groups all provide information related to what people say they will do in various circumstances. appendix
Actual data based on experience may be used to infer information about demand. appendix
Instantaneous information such as that provided by scanning devices connected to computers can provide useful information about demand.
Use the table below to complete the following exercise.Plot the price and quantity data. Indicate the price elasticity value at each price. What happens to the elasticity value as you move down the
Below the demand curve plotted in exercise 1, plot the total-revenue curve, measuring total revenue on the vertical axis and quantity on the horizontal axis.
What would a 10 percent increase in the price of movie tickets mean for the revenue of a movie theater if the price elasticity of demand was, in turn, 0.1, 0.5, 1.0, and 5.0?
Suppose the price elasticity of demand for movies by teenagers is 0.2 and that by adults is 2.0. What policy would the movie theater implement to increase total revenue?
Explain why senior citizens often obtain special price discounts. appendix
Using the following data, calculate total, average, and marginal revenues:Price Quantity Sold$100 200 90 250 80 300 70 350 60 400 50 450 40 500 30 550 20 600
In recent years, U.S. car manufacturers have charged lower car prices in western states in an effort to offset the competition by the Japanese cars. This two-tier pricing scheme has upset many car
incremental revenue, change in total revenue divided by change in quantity Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total
price elasticity greater than 1 Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic demand B. average
price times quantity sold Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic demand B. average revenue
price elasticity less than 1 Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic demand B. average revenue
zero price elasticity Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic demand B. average revenue (AR)
price elasticity equal to 1 Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic demand B. average revenue
per-unit revenue, total revenue divided by quantity Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic
different prices charged to different customers Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic demand
infinite price elasticity Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A. total revenue F. unit elastic demand B. average revenue
the percentage change in quantity demanded divided by the percentage change in price Match each term with its correct definition by placing the appropriate letter next to the corresponding number.A.
One day while you are in a shopping mall, someone comes up to you and asks you questions about a product. What is the firm that is paying someone to ask the questions probably trying to get
What method for learning about demand for a product can only be used by a firm that has been making the product for a period of time?■a. shopping mall surveys■b. telephone surveys■c. the
When price elasticity is greater than 1, total revenue increases if price■a. decreases.■b. increases.■c. holds constant.
A business knows that it has two sets of customers, one of which has a much more elastic demand than the other. If the business uses price discrimination, which set of customers should receive a
The price elasticity of demand for a product is largest when there■a. are no good substitutes for the product.■b. is only one good substitute for the product.■c. are two or three good
The price elasticity of demand for a product is largest when the■a. product constitutes a large portion of the consumer’s budget.■b. product constitutes a small portion of the consumer’s
The price elasticity of demand for a product is largest when the■a. time period under consideration is long.■b. time period under consideration is very short.■c. product constitutes a small
Suppose you are the city manager of a small Midwestern city. Your city-owned bus system is losing money, and you have to find a way to take in more revenue.Your staff recommends raising bus fares,
Airlines know from experience that vacation travelers have an elastic demand for air travel whereas business travelers have an inelastic demand for air travel.If an airline wants to increase its
The equation for calculating total revenue is____________________.
The equation for calculating average revenue is____________________
. The equation for calculating marginal revenue is____________________.
Incremental revenue is another term for____________________.
Use the following demand schedule to calculate total revenue, average revenue, and marginal revenue.____________________ Total Average Marginal Price Quantity Revenue Revenue Revenue $10 1 9 2 8 3 7 4
The equation used to calculate the price elasticity of demand is
Use the following demand schedule to calculate total revenue, average revenue, and marginal revenue.Total Average Marginal Price Quantity Revenue Revenue Revenue$5 1 5 2 5 3 5 4 How does the
Use the following demand schedule to calculate total revenue, average revenue, and marginal revenue. Be careful doing this one—remember the exact definition of marginal revenue.Total Average
If a 5 percent change in the price of movies causes a 10 percent change in the number of movie tickets sold, ed equals and demand is(elastic, inelastic, unit elastic).
If a 6 percent change in the price of coffee causes a 3 percent change in the quantity of coffee bought, ed equals and demand is(elastic, inelastic, unit elastic).
If a 2 percent change in the price of wine causes a 2 percent change in the number of bottles of wine bought, ed equals and demand is (elastic, inelastic, unit elastic).
If a 5 percent change in the price of heroin causes no change in the amount of heroin bought, ed equals and demand is(perfectly elastic, perfectly inelastic).
Complete the following table.Effect on Total Revenue Demand Price (Increase, Decrease, Elasticity Change Unchanged)Elastic Increase Elastic Decrease Inelastic Increase Inelastic Decrease Unit elastic
A product with (many, few)good substitutes would have a more elastic demand than a product with (many, few) good substitutes.
The demand for new cars is likely to be(more, less) elastic than the demand for new Chevrolet cars.
A product that takes a (large, small) portion of a consumer’s budget has a more elastic demand than a product that takes a(large, small) portion.
When consumers have a(long, short) time to react to price changes, demand is more elastic than when consumers have a(long, short) period of time to react.
Taxing Tobacco According to the law of demand, taxes that increase the price of a product are expected to reduce consumption of the product. Several years ago, California increased its cigarette tax
Price Discrimination in Airline Fares Several years ago Northwest Airlines cut fares 35 percent for summer travel. There were some restrictions:Travel must begin on or after May 27 and be completed
. Briefly describe the process of setting the federal budget in the United States. What is the time lag between the start of the process and the point at which the money is actually spent?
Taxes affect the level of aggregate demand primarily through changing the level of , which alters .■a. disposable income; consumption■b. disposable income; investment■c. disposable income;
A(n) in government spending or a(n) in taxes lowers the level of expenditures at every price and shifts the aggregate demand curve to the .■a. decrease; increase; right■b. decrease; increase;
A decrease in taxes may cause aggregate supply to shift to the , causing the level of prices to and the level of national income to .■a. right; fall; rise■b. right; fall; fall■c. right; rise;
Increases in government spending financed by may drive interest rates and decrease .■a. taxes; up; consumption■b. taxes; down; consumption■c. borrowing; down; investment■d. borrowing; up;
Expansionary fiscal policy refers to■a. decreasing government spending and decreasing taxes.■b. decreasing government spending and increasing taxes.■c. increasing government spending and
Discretionary fiscal policy refers to■a. government spending at the discretion of the president.■b. government spending at the discretion of the Congress.■c. elements of fiscal policy that
Which of the following is not a harmful effect of government deficits?■a. lower private investment as a result of crowding out■b. lower net exports as a result of the appreciation of the
Which of the following is not an example of an automatic stabilizer?■a. unemployment insurance ■b. lump-sum taxes ■c. progressive taxes ■d. food stamps ■e. welfare benefits
Which of the following statements is true?■a. Developing countries rely more heavily on direct taxes than do developed countries.■b. Developing countries rely more heavily on indirect taxes than
Which of the following statements is true?■a. The United States imposes value-added taxes.■b. An export tax is an example of a direct tax.■c. Developing countries spend more on social programs
Fiscal policy is changing and .
Taxes affect aggregate expenditures indirectly by changing . This change alters.
Increases in government spending may drive interest rates (up, down), thereby(increasing, decreasing) investment.
If government spending increases by the same amount as taxes, the effect is (expansionary, contractionary).
An increase in government spending or a decrease in taxes causes the aggregate demand curve to shift to the .
List the three ways in which government spending may be financed.
An increase in taxes may shift aggregate supply to the.
A government borrows funds by(buying bonds from, selling bonds to) the public.
Fiscal policy in the United States is a product of the budget process, which involves the and branches of government.
As part of the budget process, federal agencies submit their budgets to the , which reviews and modifies each agency’s requests and consolidates all of the proposals into a single budget.
The reports to Congress on the validity of the economic assumptions made in the president’s budget.
List the two kinds of fiscal policy.
As income falls, automatic stabilizers spending.
are taxes that are a flat dollar amount regardless of income.
Look at the following tax payment schedules.Which is progressive?Regressive?Proportional?A B C Income Tax Payment Tax Payment Tax Payment$100 $10 $50 $10 200 20 80 30 300 30 90 60 400 40 100 100
taxes are an example of an automatic stabilizer.
Government plays a bigger role in investment spending in (developing, industrial)countries. Give two reasons why this should be so.
Low-income countries (do, do not) spend a greater percentage of their budgets on social programs as compared with industrialized countries.
In general, developing countries rely more heavily on(direct, indirect) taxes than do developed countries.
Reducing the Deficit Your text discusses the possible harmful effects of budget deficits. Since a budget deficit results from government spending that is greater than tax revenues, reducing the
. Consider the following graph, in which the economy is at equilibrium at P1 and Y1. Show what will happen if spending cuts and tax increases are implemented.What will happen to equilibrium real GDP
Now consider an economy operating in the vertical region of the aggregate supply curve. Can you draw a curve that illustrates tax increases and spending cuts but does not throw the economy into a
President Bush’s initial 2001 budget was referred to as an “economic stimulus package.” From what you know about fiscal policy, if the president’s goal was economic stimulus, you would expect

Showing 300 - 400 of 4867

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved