Author: Anonymous

Refer to the table below.  Since 1950, in what year was the smallest GDP decline?  Enter your answer as an numeric date e.g. 1929. Dates Duration (Months) Percentage Decline in Output 1929 43 -26.70% 1937 13 -18.2 1945 8 -12.7 1948 11 -1.7 1953 10 -2.6 1957 8 -3.7 1960 10 -1.6 1969 11 -0.6 1973 16 -3.2 1980 6 -2.2 1981 16 -2.7 1990 8 -1.4 2001 8 -0.3 2007 18 -5.1  

The supply and demand conditions for a firm are given in table below.  Identify the equilibrium price before the social benefit of production is included.  Enter your answer as a numeric value no dollar sign e.g. 400. Price Quantity Supplied Quantity Demanded before Considering the benefits of technology Quantity Demanded after Considering the benefits of Technology $100 425 525 625 $200 450 500 600 $300 475 475 575 $400 500 425 550 $500 525 400 525 $600 550 375 500 $700 575 325 475  

True or False.  An international comparison of unemployment rates across countries can be easily accomplished.

The following table shows some costs and prices faced by an airplane manufacturer.  profit maximization is achieved at a production rate of ____ planes per month  (Enter your answer as a numeric value). Output (planes per month) 0 1 2 3 4 Price (millions per plane) — $9 $8 $7 $6 Total cost (millions per month) $1 $2 $6 $10 $20 Total revenue (millions per month) Total Profit (millions per month)  

A decline in the birthrate increases or decreases the demand for children’s toys?

Refer to the table below.  Since 1950, in what year was the smallest GDP decline?  Enter your answer as an numeric date e.g. 1929. Dates Duration (Months) Percentage Decline in Output 1929 43 -26.70% 1937 13 -18.2 1945 8 -12.7 1948 11 -1.7 1953 10 -2.6 1957 8 -3.7 1960 10 -1.6 1969 11 -0.6 1973 16 -3.2 1980 6 -2.2 1981 16 -2.7 1990 8 -1.4 2001 8 -0.3 2007 18 -5.1  

Indicate whether each of the following statements applies to microeconomics or macroeconomics: The consumer price index rose by 3.8 percent from August 2011 to August 2012:

Which of the following does not characterize a perfectly competitive market?

If the on-campus demand for soda is as follows: Price (per can) $0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 Quantity demanded (per day) 100 90 80 70 60 50 40 30 and marginal cost of supplying soda is 50 cents, what price will students end up paying in: A monopolized market? (Enter your answer as a numeric value).  HINT: you will need to find TR and MR for each quantity.  

True or False.  The government can encourage innovation by providing assistance to firms with the costs of research and development.