Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Difference between microeconomics and macroeconomics table

20/10/2021 Client: muhammad11 Deadline: 2 Day

What Is The Difference Between Microeconomics And Macroeconomics?

1. What is the difference between microeconomics and macroeconomics?

a. Microeconomics examines the big picture while macroeconomics examines individual units

b. Microeconomics is the study of decision making undertaken by individuals while macroeconomics looks at the behavior of the economy as a whole.

c. Microeconomics deals with positive analysis while macroeconomics deals with normative analysis.

d. Microeconomics lends itself to empirical analysis while macroeconomics uses the concept of incentives.

2. Suppose a student is trying to decide whether or not to take another economic class. Which of the following is not an aspect of the economic way of thinking that would apply in this decision-making process?

a. Self-interest

b. Rationality

c. Responding to incentives

d. Flipping a coin

3. What kind of relationship is shown in the graph?

a. An inverse relationship

b. A quadratic relationship

c. An exponential relationship

d. A direct relationship

4. Marissa is buying vegetables. She can choose between carrots, lettuce, and green beans. She doesn’t like green beans and after some thought she chooses carrots. What is the opportunity cost of this choice?

a. The lettuce and the green beans

b. The lettuce

c. The carrots, the lettuce and the green beans

d. The green beans

5. According to the law of increasing additional cost, the opportunity cost of producing

a. cotton is likely to remain constant as a society tries to produce more cotton.

b. cotton is likely to decrease as society tries to produce more cotton.

c. cotton is likely to increase as society tries to produce more lemons.

d. cotton is likely to decrease as society tries to produce more lemons.

e. cotton is likely to increase as society tries to produce more cotton.

6. A country produces oranges and corn.

i. Draw a representative PPC for this country. Label it PPC1.

ii. Suppose that a breakthrough in technology makes all agriculture more productive, draw a new PPC showing the effect of this change. Label it PPC2.

Carefully follow the instructions above, and only draw the required objects.

7. Tanya can make 3 loaves of bread or 1 apple pie in one hour. Jonathan can make 2 loaves of bread or 1 apple pie in one hour. Based on this information, which of the following is a true statement?

a. Tanya has comparative advantage in making bread.

b. Tanya has comparative advantage in making pies.

c. Jonathan has an absolute advantage in making bread.

d. Jonathan has a comparative advantage in making bread.

8. The existence of scarcity requires

a. that people must make choices and face trade-offs in using their resources.

b. greater scientific advancements occur to eliminate it.

c. that the government allocates resources.

d. having unfulfilled wants during times of economic depression.

9.

Money Prices

2003

2004

Hospital Room (1 day)

$250

$275

Hotel Suite ( 1 night)

$350

$375

Based on the table above, which of the following is true?

a. The money prices of both goods increased, the relative price of hospital rooms increased, and the relative price of hotel suites decreased.

b. The money prices of both goods increased, the relative price of hospital rooms decreased, and the relative price of hotel suites increased.

c. The money prices of both goods increased and the relative prices of both goods decreased.

d. The money prices of both goods increased and the relative prices of both goods incrased.

10.

MARKET PRICE

A

B

C

D

$10

0

0

1

1

$9

0

1

3

3

$8

1

3

6

5

$7

3

4

7

6

$6

7

7

10

11

$5

10

9

12

15

$4

14

11

16

20

The table above indicates the demand schedule for four types of consumers. Suppose there are 8,000 consumers, early divided between the four types of customers (A - D). The quantity demanded at a price of $7 is?

a. 40,000 b. 60,000 c. 58,000 d. 42,000

11. The graph on the bottom shows the demand for automobiles.

Suppose that there is a decrease in consumer incomes.

Show the effect on the current demand cure. Label it D2

D2


12. Which of the following would cause a decrease in the demand for beef?

a. An increase in consumer incomes (beef is a normal good).

b. A decrease in the number of firms in the market

c. An increase in the price of beef

d. A decrease in the price of fish, a substitute for beef.

13. The graph below shows the supply of automobiles.

Suppose that there is a decrease in subsidies.

Show the effect on the current supply cure. Label your new curve S2

S2


14. Which of the following would cause an increase in the supply of chicken?

a.A decrease in the price of inputs to chicken production

b. An increase in taxes

c. An increase in the number of buyers in the market

d. An increase in the price of chicken

15. The following table gives the demand and supply schedules for gizmos.

PRICE

QTY DEMANDED

QTY SUPPLIED

$30

76

160

$25

84

140

$20

92

120

$15

100

100

$10

108

80

a. The equilibrium price in this market is

b. The equilibrium quantity in this market is units

c. If the price in this market was $25, there would be anexcess supplyof units.

16. The law of demand states that

a. as price increases, quantity demanded decreases, all other things equal.

b. if prices, income, and the price of other goods increase, demand will increase.

c. supply creates its own demand.

d. as price increases, quantity demanded increases, all other things equal.

e. if supply increases, demand will increase to meet supply.

17-1 Which of the following is an implication of the law of supply.

a. Increases in money prices will lead to an increase in supply while increases in relative prices will lead to a decrease in supply.

b. Individual will purchase fewer units at a higher price and more units at a lower price.

c. Changes in the price of a good leads to a shift in the supply curve.

d. Producers will offer more units at a higher price and fewer units at a lower price.

17-2 The law of supply then implies that a __________ the supply curve occurs due to a change in market price

a. Movement along

b. Shift of

18. Assume that the cost of aluminum used by soft-drink companies increases. Indicate which of the following statements describing the resulting effects in the market for soft drinks distributed in aluminum cans are TRUE or FALSE.

a. The demand for soft drinks decreases. TRUE or FALSE

b. The quantity of soft drinks demanded decreases. TRUE or FALSE

c. The supply of soft drinks decreases. TRUE or FALSE

d. The quantity of soft drinks supplied decreases. TRUE or FALSE

19. At the market equilibrium price.

a. demand equals supply.

b. quantity demanded equals quantity supplied

c. quantity and price are equal

d. everyone can buy the product.

20. Suppose that you are investigating the market for aluminum. The price of steel, a substitute good, has decreased. Which of the following would be best describe the market reaction to this event?

a. The supply of aluminum decreases since the price of steel decreases.

b. The demand for aluminum decreases, creating a shortage and forcing the price of aluminum to increase.

c. The supply of steel increases since steel firms must produce more steel to make up for the price decrease.

d. The demand for aluminum decreases, which creates a surplus of aluminum, causing the price of aluminum to decrease.

21. According to the accompanying graph, when the government imposes a price ceiling of $25.

a. the quantity of goods that will be traded is 0.

b. the quantity of goods that will be traded is 200.

c. the quantity of goods that will be traded is 150.

d. the quantity of goods that will be traded is 100.

22. Voluntary exchange

a. makes one party better off while making the other party worse off.

b. is not part of the market system

c. relates to price ceilings and price floors.

d. makes both parties to a trade better off.

A 0.1 significance level is used for a hypothesis test of the claim that when parents use a particular method of gender selection, the proportion of baby girls is less than 0.5. Assume that sample data consists of 55 girls in 121 births, so the sample statistic of 5/11 results in a z score that is 1 standard deviation below 0. Complete parts (a) through (h) below.

a. Identify the null hypothesis and the alternative hypothesis.

b. What is the value of alpha?

c. What is the sampling distribution of the sample statistic?

d. Is the test two-tailed, left-tailed, or right-tailed?

e. What is the value of the test statistic?

f. What is the P-value?

g. What are the critical value(s)?

h. What is the area of the critical region?

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Helping Engineer
Quality Assignments
Instant Assignments
Top Grade Tutor
Accounting Homework Help
Engineering Help
Writer Writer Name Offer Chat
Helping Engineer

ONLINE

Helping Engineer

I will provide you with the well organized and well research papers from different primary and secondary sources will write the content that will support your points.

$37 Chat With Writer
Quality Assignments

ONLINE

Quality Assignments

I am a professional and experienced writer and I have written research reports, proposals, essays, thesis and dissertations on a variety of topics.

$17 Chat With Writer
Instant Assignments

ONLINE

Instant Assignments

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$24 Chat With Writer
Top Grade Tutor

ONLINE

Top Grade Tutor

As per my knowledge I can assist you in writing a perfect Planning, Marketing Research, Business Pitches, Business Proposals, Business Feasibility Reports and Content within your given deadline and budget.

$20 Chat With Writer
Accounting Homework Help

ONLINE

Accounting Homework Help

I have read your project details and I can provide you QUALITY WORK within your given timeline and budget.

$25 Chat With Writer
Engineering Help

ONLINE

Engineering Help

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$21 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Distance converter miles to kilometers - POWERPOINT PRESENTATION - Ethical issues in family counseling - British airways restructures its entire organization - Lord of the flies multiple choice chapter quizzes - Http www businessballs com pestanalysisfreetemplate htm - White garment worn by priests - Carine senior high school map - World Civilization and Pre History (2) - Entire classes work - Module 11 Discussion - Self-Assessment and Reflection A&P - History - History and physical examination penn foster - Evaluating Performance - Christophe rault sciences po - Jacana energy email bill - My marketing lab simulation answers - Business ethics, Immanuel Kant, Dentology, Egoism - Twelve different video games showing substance - Finance question - Case study report example - Csi wildlife tracking poachers worksheet answers - Homework controversy new york times - Mine that bird kentucky derby aerial view - Outline text effect lime accent 3 - University of nottingham nightingale hall - Ford motor company and the pinto - 8500: Assignment 2 - Mkt week 1 individual assignment - The Managerial Role in Crafting and Executing Strategy - Movement analysis assignment - Demonstrate how hajj expresses the beliefs of islam - Marketing communication plan for coca cola - Installed memory ram 4gb 2.94 gb usable - Assessment 2 – Cost and Quality Management Plans (2 parts) - The essentials of computer organization and architecture linda null solutions - Where was edgar allan poe born and raised - In what pursuit is solmization useful or important - Early years self evaluation form guidance - Walmart near harvard university - Corel videostudio frame 0 is unreadable - 1-4 Project 1 and Project 2 Review - English Idea Map - Trump boulders in a harness sticker - Calculate Investing in Productivity Improvements - Natural selection is best described as - Teachers tv desert island - Harley davidson motor company enterprise software selection pdf - Distribution channel of nike ppt - A survey of teenagers 12–17 indicated three circumstances in which they were more likely to use drugs: - Difference between omnipotent and symbolic view of management - Psychology: Informed Consent Form - Adobe acrobat reader dc shopfloor xi - Cold applied tape coating steel pipe - Practical scrap metal small arms vol 5 - Gas gas gas poem - Formal concept analysis ppt - Topic 6 insolation and the seasons answers - Assassin's creed 3 benjamin franklin pages reward - What is the meaning of smaw welding - Ritchie bros geelong auction catalogue - Online discussion board rubric - The two aluminum rods support the vertical force - How to get answers for math homework - Warren buffett 2005 case study - Week 6 word of week - 02.05 the bill of rights - Mixing ammonium nitrate and sodium hydroxide solutions gives - Noncardiogenic pulmonary edema medscape - Is a wavelength a period - The highwayman alfred noyes analysis - Medications Used to Treat Mental Illness - Plot the supply curve and the demand curve for bicycles - Humn 8660 - Gale force surfing case study - Archers underground asset services - Change management audit controls - Covert rehearsal - Labor Relations - Pre lab questions answers biology - Complex adaptive systems nursing definition - Akron electric valve controller - Gsun solar panels review - Microsoft wireless optical desktop - Validity of secondary sources - Journal entry 15 on course - Calculate the case mix index for this ms drg set - British library document supply centre inside serials & conference proceedings - IT project management - Wileyplus accounting answers chapter 3 - Quantitative research on bedside shift report - Indoor skate park acacia ridge - Saltwater light bulb experiment - Mkt 100 principles of marketing - 2.2 k ohm resistor color code - Pecking order theory investopedia - Week 2 Project - Two body relaxation time - How to open scenario manager in excel - Iso 27001 requirements checklist