- = File Explorer X O X Course Syllabus Outline - Introdu X . University of Winnipeg - ECON 1 X (718) How to Take a Screenshot il X + C saplinglearning.ca/ibiscms/mod/flcn/view.php?id=1040915 ES O Pin Apps M Gmail YouTube Maps w Word yahoo Province of Manito.. N Netflix W WW Sign In - Whe... f (3) Marketplace - 2... VVUMOO JJSTOR Home misc_genesis.pdf > > Reading list Sapling Learning Midterm 1 ? Netochukwu Obiyor macmillan learning O Sapling Learning > University of Winnipeg - ECON 1103 Macroeconomics - Summer21 - DRAGAN > Activities and Due Dates > Midterm 1 The due date for this activity has passed 13 of 24 Questions Assignment Score: 64.1% Solution Solved Incorrect My Attempt 8 Question 100% Suppose the market for dodgeballs is competitive and in equilibrium. What will happen in the market if: Correct 1. games using dodgeballs become hugely popular 9 Question 2. the price of rubber, an input into the production of dodgeballs, increases 100% Correct Assume that all dodgeballs are made of rubber and there are no close substitutes. 10 Question 100% Correct The competitive equilibrium price 11 Question 100% Correct decreases 12 Question 100% increases Correct O changes ambiguously 13 Question 100/100 Revealed Answer Correct 14 Question 100% Correct The competitive equilibrium quantity 29 15 Question 100% 9:06 PM Type here to search O w 85OF Partly sunny ~ 9 2 . 6/29/2021 EA- = File Explorer X O X Course Syllabus Outline - Introdu X . University of Winnipeg - ECON 1 X (718) How to Take a Screenshot il X + C saplinglearning.ca/ibiscms/mod/flcn/view.php?id=1040915 ES O Pin Apps M Gmail YouTube Maps w Word yahoo Province of Manito.. N Netflix W WW Sign In - Whe... f (3) Marketplace - 2... VVUMOO JJSTOR Home misc_genesis.pdf > > Reading list Sapling Learning Midterm 1 ? Netochukwu Obiyor macmillan learning O Sapling Learning > University of Winnipeg - ECON 1103 Macroeconomics - Summer21 - DRAGAN > Activities and Due Dates > Midterm 1 The due date for this activity has passed 21 of 24 Questions Question Correct Andrew, a college student, loves drinking coffee late at night to study for exams. Having a small income, he is used to buying 15 Question 100% cheap, bad tasting coffee that he needs to grind and brew himself. The coffee tastes putrid but, with enough cream and sugar, Correct Andrew is able to tolerate it. Occasionally, he does go out to Starbucks when he has spare money. 16 Question 50% After graduation, Andrew gets a job working at a database firm as a programmer. His income is now a healthy $75,000 a year Incorrect and he decides he's had enough bad tasting coffee. He ends up buying coffee daily from Starbucks even though it costs significantly more. 17 Question 88.9% Incorrect 18 Question 100% Andrew's demand for Starbucks coffee changed as a result of Correct O a change in a related good or service. 19 Question 0% Incorrect O a change in technology. O a change in expectations. 20 Question 50% O a change in income. ncorrect O a change in the number of consumers. 21 Question 0/100 Incorrect 29 9:07 PM Type here to search O w o 85OF Partly sunny ~ 9 2 . ( cl/s 6/29/2021 EA- = File Explorer X O X Course Syllabus Outline - Introdu X . University of Winnipeg - ECON 1 X (718) How to Take a Screenshot il X + C saplinglearning.ca/ibiscms/mod/flcn/view.php?id=1040915 ES O Pin Apps M Gmail YouTube Maps w Word yahoo Province of Manito.. N Netflix W WW Sign In - Whe... f (3) Marketplace - 2... VVUMOO JJSTOR Home misc_genesis.pdf > > Reading list Sapling Learning Midterm 1 Netochukwu Obiyor macmillan learning O Sapling Learning > University of Winnipeg - ECON 1103 Macroeconomics - Summer21 - DRAGAN > Activities and Due Dates > Midterm 1 The due date for this activity has passed 2 of 24 Questions Assignment Score: 64.1% Feedback Missed 1 Question 100% My Attempt Correct Juan Valdez, a coffee farmer in Colombia, sells his coffee to Cafe Emporium, a U.S. firm which specializes in gourmet 2 Question 50% coffee blends. Incorrect 3 Question 100% a. What must be true of this arrangement? Correct 4 Question 100% Juan and other farmers in Colombia who make such transactions are made better off as a result. Correct While this arrangement is good for Juan, he would be better off if the government had negotiated the contract for him because the government could have gotten a better price. 5 Question 100% When Juan and other farmers in Colombia sell their coffee beans to foreigners, their nation as a whole gains in the Correct long run, as countries gain from trade. Juan believes he is better off with this contract, but in reality, the wealthy American buyer is taking advantage of 6 Question 0% Juan's naivete. Incorrect Incorrect 07 Question 0% Incorrect b. What can be inferred from the fact that Juan has voluntarily entered into a contract with Cafe Emporium? 8 Question 100% Correct 29 Type here to search O w 9:05 PM 85 F Partly sunny 6/29/2021 EA- = File Explorer X O X Course Syllabus Outline - Introdu X . University of Winnipeg - ECON 1 X (718) How to Take a Screenshot il X + C saplinglearning.ca/ibiscms/mod/flcn/view.php?id=1040915 ES O Pin Apps M Gmail YouTube Maps w Word yahoo Province of Manito.. N Netflix W WW Sign In - Whe... f (3) Marketplace - 2... VVUMOO JJSTOR Home misc_genesis.pdf > > Reading list Sapling Learning Midterm 1 ? Netochukwu Obiyor macmillan learning O Sapling Learning > University of Winnipeg - ECON 1103 Macroeconomics - Summer21 - DRAGAN > Activities and Due Dates > Midterm 1 The due date for this activity has passed i 5 of 24 Questions Assignment Score: 64.1% Solution Solved 1 Question 100% My Attempt Correct The table shows the tons of steel or number of computers a worker can produce per month in Germany and South Korea. Use 2 Question 50% this table to answer the question. Incorrect Steel Desktop Computer Germany 40 1C 3 Question 100% Correct South Korea 16 8 4 Question 100% Correct Germany should 5 Question 100/100 Correct . specialize in steel production, export steel, and import computers. 6 Question 0% O produce both goods because neither country has a comparative advantage. Incorrect O specialize in computer production, export computers, and import steel. produce both goods because it has an absolute advantage in the production of both goods. 07 Question 0% Incorrect Revealed Answer 8 Question 100% Correct 29 9:05 PM Type here to search O w 85OF Partly sunny ~ 6/29/2021- = File Explorer X O X Course Syllabus Outline - Introdu X . University of Winnipeg - ECON 1 X (718) How to Take a Screenshot il X + C saplinglearning.ca/ibiscms/mod/flcn/view.php?id=1040915 ES O Pin Apps M Gmail YouTube Maps w Word yahoo Province of Manito.. N Netflix W WW Sign In - Whe... f (3) Marketplace - 2... VVUMOO JJSTOR Home misc_genesis.pdf > > Reading list Sapling Learning Midterm 1 Netochukwu Obiyor macmillan learning O Sapling Learning > University of Winnipeg - ECON 1103 Macroeconomics - Summer21 - DRAGAN > Activities and Due Dates > Midterm 1 The due date for this activity has passed 7 of 24 Questions My Attempt Correct 2 Question 50% 26. (Problem 13.) Economists who work for the government are often called on to make policy recommendations. Their Incorrect recommendations: contain both positive and normative statements and it is important that the public be able to distinguish between the 3 Question 100% two. Correct O contain only normative statements. 4 Question 100% contain only positive statements. Correct contain only normative statements and it is important that the public be able to distinguish them from positive statements. 5 Question 100% Correct Incorrect 6 Question 0% Incorrect 7 Question 0% Incorrect 8 Question 100% Correct 29 9:05 PM Type here to search O Eli w 85OF Partly sunny ~ 9 2 . cl/s 6/29/2021 EA- = File Explorer X O X Course Syllabus Outline - Introdu X . University of Winnipeg - ECON 1 X (718) How to Take a Screenshot il X + C saplinglearning.ca/ibiscms/mod/flcn/view.php?id=1040915 ES O Pin Apps M Gmail YouTube Maps w Word yahoo Province of Manito.. N Netflix W WW Sign In - Whe... f (3) Marketplace - 2... VVUMOO JJSTOR Home misc_genesis.pdf > > Reading list Sapling Learning Midterm 1 ? Netochukwu Obiyor macmillan learning O Sapling Learning > University of Winnipeg - ECON 1103 Macroeconomics - Summer21 - DRAGAN > Activities and Due Dates > Midterm 1 The due date for this activity has passed 9 of 24 Questions My Attempt Assume Aaron and Jose each own a small ranch, and each produces milk and cheese. One of them is better than the other at 4 Question 100% Correct producing both milk and cheese (but we do not know who). 5 Question 100% Correct Which of the statements cannot be true regarding absolute or comparative advantage? 6 Question 0% ncorrect Jose could have a comparative advantage in producing cheese. O Aaron could have an absolute advantage in producing milk. 0 7 Question 0% O Jose could have an absolute advantage in producing both milk and cheese. Incorrect O Jose could have an absolute advantage in producing cheese. 8 Question 100% Aaron could have a comparative advantage in producing both milk and cheese. orrect Revealed Answer 9 Question 100/100 Correct 10 Question 100% Correct 29 9:05 PM Type here to search O w 85OF Partly sunny ~ cls 6/29/2021 EA- = File Explorer X O X Course Syllabus Outline - Introdu X . University of Winnipeg - ECON 1 X (718) How to Take a Screenshot il X + C saplinglearning.ca/ibiscms/mod/flcn/view.php?id=1040915 ES O Pin Apps M Gmail YouTube Maps w Word yahoo Province of Manito.. N Netflix W WW Sign In - Whe... f (3) Marketplace - 2... VVUMOO JJSTOR Home misc_genesis.pdf > > Reading list Sapling Learning Midterm 1 ? Netochukwu Obiyor macmillan learning O Sapling Learning > University of Winnipeg - ECON 1103 Macroeconomics - Summer21 - DRAGAN > Activities and Due Dates > Midterm 1 The due date for this activity has passed 12 of 24 Questions My Attempt 6 Question 0% ncorrect One day, a local theme park charges $40 per person for admission, and 10,000 people visit the park. On another day, the park charges $60 per person, and 20,000 people pay to enter the park. 07 Question 0% Incorrect Which explanation best describes why the park sees an increase in attendance when the price is higher? 8 Question 100% Correct The higher price gives the park an incentive to expand capacity and permit more visitors. 9 Question 100% Theme-park tickets are part of a rare class of goods which do not follow the Law of Demand. correct O High prices signal a high quality park experience. 10 Question 100% . The low-attendance day falls on an autumn Wednesday, while the high-attendance day falls on a summer Saturday. Correct Revealed Answer 11 Question 100% Correct 12 Question 100/100 Correct 13 Question 100% 29 Type here to search O w 85OF Partly sunny 9:06 PM cls 6/29/2021 EA