questions of facts from Econ tests

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ndumas2
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questions of facts from Econ tests
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2011-04-28 15:56:31
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questions of facts
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  1. Firms operating in monoplistically competitive markets differentiate their products in all of the following ways EXCEPT What?
    Price discrimination
  2. True or False. Pricing decisions are made strategically only by firms operating in oligopolist markets.
    True
  3. As opposed to a non-price discriminating monopolist an effective price-discriminating monopolist produces ___ output and earns ____ economic profit.
    more; more
  4. A firm operating in a monopolistically competitive market _____ engage in price discrimination because it is a price ______
    can; maker
  5. All of the following are charteristics of a perfectly competitive market EXCEPT which?
    A. firms face barriers to entering a market
    B. there are many firms supplying goods to the market
    C. the goods sold in the market are homogeneous
    D. firms are price takers
    A. Firms face barriers to entering a market
    (this multiple choice question has been scrambled)
  6. An advertisment offering significant discounts to customers who bundle their television, internet and digital telephone services together as opposed to those who ppurchased these services seperatly. with this bundling offer this company is engaging in ___ price discrimination
    second-degree
  7. We know with certainty that a monopolist will earn an economic profit ___ in the long run
    greater than or equal to zero
  8. the greater the amount of an excise tax, everything else held constant, the ____ the deadweight loss will be from the tax. The more price elastic supply is everythign else held constant, the ___ the deadweight loss will be from a given excise tax
    larger; larger
  9. Suppose the U.S. economy is operating at full employment. A decrease in net taxes will cause ____ in real GDP in the short run adn ___ in the unemployment rate in the long run everything else held constant.
    an increase; no change
  10. A decrease in government spending is an example of ____ policy action
    a contractionary fiscal
  11. inflation is...
    a continual increase in the aggregate price level
  12. The aggerate demand curve of a country is negativly sloped because an increase in teha ggerate price level causes the real money supply in the country to ___ and nominal intrest rates in the country to ___. everything else held constant.
    decrease; iincrease
  13. Suppose Laura quit her job in baltimore and moved to new orleans nine weeks ago. for these nine weeks she has been looking for a job but has not found one yet. at present Laura would be considred...
    frictionally unemployed
  14. A surplus in the labor market is a feature of ___ gap. The self-correcting mechanism operates in such a way that this gap will be eliminated over time by ___ in labor cost
    a recessionary; decreases
  15. The existence of people working in the underground economy and offically counted as not in the labor force will lead to an officially calculated unemployment rate which ___ the problem of unemployment
    overstates
  16. The labor force is a ___ variable; real GDP is a ___ variable
    stock; flow
  17. what type of unemployment is the least detrimental to the macroeconomics performance of a dynamic market economy?
    Frictional
  18. True or False. The term "business cycle" refers to the short-term flunctuations in the unemployment rate
    false
  19. government subsidized loan programs for college studetns are most effective in combating ____ unemployment
    structural
  20. True or False. The Fisher Effect states that increases in nominal interst rates will lead to increases in real interst rates.
    false
  21. A decrease in foregin income will cause ___ in aggregate demand in teh United States and ___ in real GDP in the United States in the short run everythign else held constant
    a decrease; a decrease
  22. in March 2011 the unemployment rate in teh United States was ___ percent
    8.8

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