1. economic therory
a.expressed normative values
b.invent imaginative and interesting stories
c. predicts behavior of a specific economic decision maker after economic change
d.predicts the average behavior of a group of similar maker an economic change
e. uses only perfect and complete information
2.sunk cost
a.can only be measured in monetary terms
b.are opportunity cost
c.should influence a person choice if that person is a marginal decision maker
d.lower the efficienty of production
e. should not be considered when making econmic decisions
3.bater occurs when
a. two people share everything
b. one product is exchanged directly for another product
c. money is exchanged dirctly for other money
e. goods are used to buy money
4.the u.s economy is best characterized as
a. pure capitalism
b.a command economy
c.socialism
d.a mixed economy
e.market socialism
Explain the difference between a properties assessed value and market value. What impact does the current economic crisis have on both?
A hostile takeover of the us ?
If a competitive firm is making economic profits … what is the result
a. market supply decreases and market price rises.
b. market demand decreases and market price falls.
c. market supply increases and market price falls.
d. market demand, market supply and market price remain constant.
e. market demand increases and market price rises.
1. economic therory
a.expressed normative values
b.invent imaginative and interesting stories
c. predicts behavior of a specific economic decision maker after economic change
d.predicts the average behavior of a group of similar maker an economic change
e. uses only perfect and complete information
2.sunk cost
a.can only be measured in monetary terms
b.are opportunity cost
c.should influence a person choice if that person is a marginal decision maker
d.lower the efficienty of production
e. should not be considered when making econmic decisions
3.bater occurs when
a. two people share everything
b. one product is exchanged directly for another product
c. money is exchanged dirctly for other money
e. goods are used to buy money
4.the u.s economy is best characterized as
a. pure capitalism
b.a command economy
c.socialism
d.a mixed economy
e.market socialism
1. economic therory
a.expressed normative values
b.invent imaginative and interesting stories
c. predicts behavior of a specific economic decision maker after economic change
d.predicts the average behavior of a group of similar maker an economic change
e. uses only perfect and complete information
2.sunk cost
a.can only be measured in monetary terms
b.are opportunity cost
c.should influence a person choice if that person is a marginal decision maker
d.lower the efficienty of production
e. should not be considered when making econmic decisions
3.bater occurs when
a. two people share everything
b. one product is exchanged directly for another product
c. money is exchanged dirctly for other money
e. goods are used to buy money
4.the u.s economy is best characterized as
a. pure capitalism
b.a command economy
c.socialism
d.a mixed economy
e.market socialism
a) there is absolutely nothing gov can do even in the short run, to reduce the unemployment rate
b)the gov can use fiscal policy such as increased gov spending or lower tax rates to reduce unemployment
c) a modern extension of keynesian economics exist
d)discretionaly fiscal policy is essential for prolonged growth
e)market participants can be fooled in the long run by monetary and fiscal policy rules.
