Economics questions and answers in July 2021

Case Study Questions: Why has Telespazio adopted a double-rater system to evaluate the employees who work on projects on a regular basis? In a context where the company is evolving into a matrix organ...
QUESTION 9 Which of the following would shift a firm's entire average cost curve down? Assume this a cost curve for a single product O A. Economies of scale B. Economies of scope O C. A successful lea...
Select all of the answers that are true. That is, there may be more than one correct statement. In the long run of a perfectly competitive market... Financial revenues minus financial costs for each f...
Georgetown Cupcake in Washington, D.C. bakes delicious gourmet cupcakes. Cupcake bakeries are a (perfectly) competitive business in this area so keeping costs under control matters. At its current pro...
The year is 2005 and Sony and Toshiba are considering developing competing technology standards for high definition movies. Sony's standard would be called Blu-Ray and Toshiba's would be HD-DVD. Each...
In the recent past, recorded songs were sold online at locations like the iTunes Store. Suppose that Steve would demand 20 songs if the price were $1 per song and 10 songs if the price were $...
Consider the following Cournot Duopoly diagram; At what point is the Cournot equilibrium achieved? options: E D B C. Firm 1 Reaction Function Isaprofit curves for no firm 1 C A Firm 2 Reaction Functio...
The diagram below that accompanies this question illustrates curves for a firm operating in a differentiated-product oligopoly. One of the demand curves is relevant when rivals match the firm's price ...
Consider the following Cournot Duopoly diagram... There is a decline in firm 1's marginal cost. How does this affect firm 1's reaction function? Question 9 options: Pivots along Q1 Shifts outward Does...
Hong Kong is relatively abundant in labor, while Canada is relatively abundant in capital. In both countries the production of shirts is relatively more labor intensive than the production of computer...
Most economists maintain that the major factor underlying wage stagnation in the United States in the 1990s has been: Select one: a. Import competition b. Technological change c. Rising real value ...
Consider Figure 5.6. In the global market for wine, the EU is willing to supply as much wine as the US demands at $8 per bottle. If the US imposes a quota of 15 bottles of wine, how much revenue will ...
Concerning international trade restrictions, which of the following is false? Trade restrictions: Select one: a. Limit specialization and the division of labor b. Reduce the volume of trade and the ...
A closed economy is one in which: Select one: a. Imports exactly equal exports, so that trade is balanced b. Domestic firms invest in industries overseas c. The home economy is isolated from foreig...
A product will be internationally traded as long as the pre-trade price differential between the trading partners is: Select one: a. Greater than the cost of transporting it between them b. Equal to...
The Smoot-Hawley Tariff Act of 1930 has generally been associated with: Select one: a. Falling tariffs b. Increases in the volume of trade c. Intensifying the worldwide depression d. Efforts to li...
Which of the following policies permits a specified quantity of goods to be imported at one tariff rate and applies a higher tariff rate to imports above this quantity? Select one: a. Tariff quota b....
A nation can produce two products: tanks and autos. The table below is the nation's production possibilities schedule. Production Possibilities Product A B C D E Tanks 1 2 3 4 5 Autos 1, 000 950 850 6...
A $6,500 bond had a coupon rate of 4.25% with interest paid semi-annually. Amy purchased this bond when there were 8 years left to maturity and when the market interest rate was 4.50% compounded semi-...
1.     a) Genetically modified soybean seed is an example of a new production technology that has increased soybean productivity. As a result, this new technology ______ production costs and ____...