Which of the following is not a type of intervening act? Played 59 times. 1. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. Macroeconomics studies economics at large and helps in understanding the operations of the economy. 90. Question 2 A. Edit. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. C. “too much money chasing too few goods”. Question #94286. which one of the following statement is correct. Definition. What branch of economics is concerned with interest rates and the gross domestic product (GDP) of the U.S. economy? \C. a. day to day life in a sorority house. (b) incomes increase. B. Microeconomics involves the study of how households and firms make choices. Which of the following statements is correct? 59 times. A. Demand-pull inflation tends to be accompanied by an increase in the level of production and income. p) = (1,2), (x,x) = (1,2), (pi, p) = (1,1), (x,x) = (2,2) i. 88% average accuracy. 3. 2020-03-11T18:35:49-04:00. a month ago. For this economy, the base year must be 2004. Aggregate demand curves slope downwards for each of the following reasons except: A.foreign price effect B.the wealth effect C.the interest rate effect D.the substitution effect. a. 30 seconds. 0. (b) positive economics (d) macroeconomics 9. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. D. The Pumpkin Center State Bank increased its interest rate on cons percentage point. Select the three macroeconomic policy goals from the following list. Normative Statement. An empirical investigation of the general price level and unemployment rates since 1990. B) A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. 2. Inflation refers to: A. a sudden and self-contained increase in prices. Edit. Macroeconomics studies all of the following EXCEPT why a specific consumer made a specific choice. b. D. The PPI basket includes intermediate goods. (c) population increases. D) peculiar to command economies. This economy's rate of inflation for 2006 is 10.12 percent. (a) normative economics (c) microeconomics (b) positive economics (d) macroeconomics 10. C. The CPI basket includes services. 13. This means that the growth rate of real GDP per capita was about 6.9%. Question #105247. A) Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. At the end of the first year, he's earned $10 in interest and there is $1,010 in the account. Answer: A 4. Macroeconomics. Macroeconomics can best be described as the: Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. Please select an answer No, this is … This problem has been solved! If the account has simple interest, the 1% interest for year two would be based off ____________. Question #94287. which one of the following statement is correct regarding the Keynesian model with the government sector and the foreign sector. It is always worth thinking about LINKS between the main parts of macroeconomics, as a change in one may well affect another. Your answer has been saved. Which of the following would not influence the rate of inflation? Yes, well done. That's correct. Inflation is an increase in the general level of prices. A normative economic statement is an economic ideology aimed at prescribing economic development. Indicate whether each of the following statements pertains to microeconomics or macroeconomics: a. (b) The rational consumer maximizes satisfaction subject to a budget constraint. (a) The base year for prices is 2008. National income grew by 2.7 percent last year. Log in for more information. Report an issue. A) Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. B. a small increase in prices. Q. Stanley deposits $1,000 into a savings account that pays 1% interest per year. c. a reference group. 4. 1. C.General Motors' profits increased in 2012. The PPI pertains to the cost of production. Updated 4/7/2016 6:53:53 AM. D. Workers at the Sleepy Eye grain elevator are paid $10 per hour. Capital. 10 Macroeconomics deals with: a. The behavior of firms. b. Economic aggregates. c. The activities of individual units. d. The behavior of the electronics industry. 11 Microeconomics is not concerned with the behavior of: a. Aggregate demand. b. Consumers. c. Industries. d. Firms. 12 The study of inflation is part of: a. The relevance of the two economic categories is found in how they makeup the whole of any economy. c. The spending variance pertains solely to fixed costs. AP Macroeconomics - Unit 2 Quiz DRAFT. Answer: B Diff: 2 Page Ref: 15/15 Topic: Normative and Positive Analysis Learning Outcome: Micro 1: Identify the basic principles of economics and explain how to think like an economist Which of the following pertains to macroeconomics U.S. GDP grew by 2.4% Which of the following is not a factor of production Money Economics may be best defined as the social science concerned w/ overcoming scarcity A positive statement is concerned w/ factual evidence and truths Normative statements are concerned w/ debatable societal opinions All food and beverage products are normal goods. Which of the following statements is (are) true? 2. C) The national productivity rate grew by 2.7 percent last year. Which of the following statements pertains to macroeconomics? Which of the following statements is (are) true for Farmer Smith? Which of the following statements describes the thin skull rule? a. an out-group. b. ii. C. National income grew by 2.7 percent last year. by bwatkins. Asked 11/20/2013 8:34:02 PM. A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. B. A. Microeconomics is useful in making decisions at the individual level. Term. 1.Price stability 2.Budget surplus 3.Economic growth 4.Equitable distribution of income. Which one of the following statements about inflation is true? The growth rate of the population was about 1.4%. E. an increase in the purchasing power of money. D) a and c are positive statements, b and d are normative statements. The cost to taxpayers under this program is: (a) $2 million (c) $4.8 million ... normative economics (b) positive economics (c) microeconomics (d) macroeconomics Which of the following statements pertains to macroeconomics? 0. Which of the following statements pertains to macroeconomics? Economics >. c) Prices rising due to an over rapid growth in the money supply. Two of the major macroeconomic measures that tell us how 'healthy' the economy is are "the unemployment rate" and "the rate of inflation". How do these matter to individuals who are part of this ec... d) Prices falling over a period of time. Which of the following statements is . SURVEY. 34. A decline in the price of soybeans caused farmer Wanek to plant more wheat. A Which of the following is not a macroeconomic objective? (a) Agricultural economics is an applied social science. Calculate the Paasche and Laspeyres price and quantity indices. If the basket of goods that is used to calculate the CPI cost $75.00 in the base year, then that basket of goods cost $115.00 in 2004. Price rising due to an excessive growth in aggregate spending. B. Demand-pull inflation may be illustrated by a rightward shift of the AD curve. D. None of the above is correct. (1) government expenditure is autonomous. Question 39. d. Chapter 01 - Limits, Alternatives, and Choices 72. D.The productivity of steelworkers increased by 1 percent in 2012. B If GDP is less than GDE ( gross domestic expenditure) , then. B. (d) None of the above (that is, all statements are true). C. (1) a decrease in net exports will decrease the equilibrium level of income. a month ago. (c) Regardless of the commodity, the farmer always receives 20 cents of the dollar spent in food. Question. Which of the following statements about overhead variances is false? C) The national productivity rate grew by 2.7 percent last year. A normative macroeconomic statement or economic statement is one where there is value judgment. false? Macroeconomics. A) major topics of macroeconomics. Which of the following statements are correct about the 45-degree line? A. bwatkins. A. (2) exports and imports are a function of the interest rate. b) Price rising due to an increase in the price of a firm's inputs. A. b. an instrumental group. Which of the following is true of the decision in Home Office v Dorset Yacht? A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. 10th - 12th grade. A . d. an in-group. National income grew by 2.7 percent last year. 1 Answer/Comment. f. … (a) normative economics (c) microeconomics (b) positive economics (d) macroeconomics. Which of the following is associated with macroeconomics? The cost of production in the South African economy accelerated, due to rising prices of electricity; 5. Considering oneself as part of “people like us” is an example of being part of _____. (2) an increase in the tax rate will increase the size of the multiplier. Question 19. Which of the following statements correctly reflects the s Find the equilibrium for the given supply and demand functions below. A.The gross profits of all Canadian businesses were $70 billion last year.B.The price of beef declined by 3 percent last year. The Pumpkin Center State Bank increased its interest rate on consumer loans by 1percentage point. Save. Which one of the following statements is incorrect? B. Award: 1.00 point Which of the following statements pertains to macroeconomics? 10th - 12th grade . (d) the prices of substitute goods rise 17 The demand curve is downward-sloping because at a higher price for a good … Which of the following statements is (are) true? c. The productivity of American workers as a whole increased by more than 2 percent per year in the last decade. Because the minimum wa Mrs. Olsen decided to ent B. AP Macroeconomics - Unit 2 Quiz DRAFT. The quantity demanded of a product rises whenever (a) the product’s price falls. Choose one answer. Which of the following statements pertains to macroeconomics? C. Microeconomics does not involve the analysis of economic policy. Answers >. 1. Macroeconomics. According to the Department of Labour’s new rates, domestic workers working in Area A (bigger metr; 4. D. a sustained increase in the general price level. … Macroeconomics studies all of the following EXCEPT why a specific consumer made a specific choice. Log in for more information. Search for an answer or ask Weegy. Macroeconomics studies all of the following EXCEPT which one? Standard hours allowed are used in calculating the spending variance. Which of the following statements pertains to macroeconomics? D. Which of the following statements pertains to macroeconomics? Which of the following is a macroeconomic statement? (pl. IN 2010 Indian's per capita GDP was estimated to be $3,400. A decline in the price of soybeans caused farmer Wanek to plant m C. National income grew by 2.7 percent last year. (3) a change in the tax rate has no impact on the size of the multiplier. See the answer Which of the following statements pertains to macroeconomics? C) Only a is a positive statement, b, c and d are normative statements. National income grew by 2.7 percent last year.4. A negative relationship ; 3. Standard hours allowed are used in calculating the volume variance. What branch of economics is concerned with interest rates and the gross domestic product (GDP) of the U.S. economy? Question 34 pertains to the following diagram. B) A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. Chapter 8 Self-test questions. Growth results in large company size, and large size satisfies managers' needs for power, status, income, and job security. The pursuit of growth represents the best way of maximizing the long-run profitability of the company. Which of the following cases is the odd one out? 3. The estimated growth in real GDP was 8.3%. D. All economic situations can be categorized as being microeconomics or macroeconomics. The unemployment rate in the United States was 8.9 percent in 2011. b. c. Growth is designed to increase market share, which in turn increases company profits. s(x)=x^{2} d(x)=(x-5)^{2} The demand is Q=20-3P the supply is Q=P-4. Business Economics Q&A Library a) The following information pertains to a consumption bundles (x₁, x2) and prices (P₁, P2) faced by a consumer in two time (b, t) periods. A. Macroeconomics does not involve the analysis of economic policy. E. The prices in the CPI basket exclude value-added tax. d. The total overhead variance pertains to both variable and fixed costs. The CPI pertains to the cost of living.