ECO 405 All Assignments
ECO 405 Chapter 13 quiz
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Eco 405 Chap 13 quiz
• Question 1
4 out of 4 points
Which of the following best describes when the economy is experiencing inflation? When
Answer
• Question 2
4 out of 4 points
Technological change in an industry that historically required specific labor skills will lead to
Answer
• Question 3
4 out of 4 points
A useful measure of the size of the workforce, that is, the number of individuals who are willing and able to work, is
Answer
• Question 4
4 out of 4 points
If inflation causes the demand for houses to increase more rapidly than the demand for other goods, the economy has experienced which effect
of inflation?
Answer
• Question 5
4 out of 4 points
In an economy like that of the US, due to a variety of institutional and social factors, wages tend to be
Answer
• Question 6
4 out of 4 points
Which price index is also known as the cost-of-living index?
Answer
• Question 7
4 out of 4 points
The psychological law of consumption tells us the marginal propensity to consume will be
Answer
• Question 8
4 out of 4 points
The effects of inflation on the distribution of income are called
Answer
• Question 9
4 out of 4 points
In the circular flow diagram, economic units are classified as
Answer
• Question 10
4 out of 4 points
Aggregate demand
Answer
Question 11
4 out of 4 points
The Phillips curve depicts the relationship between
Answer
• Question 12
4 out of 4 points
The determinants of aggregate supply are
Answer
• Question 13
4 out of 4 points
Which of the following is most likely be hurt by inflation?
Answer
• Question 14
4 out of 4 points
People who are unemployed due to a downturn in economic activity are classified in the category of
Answer
• Question 15
4 out of 4 points
ECO 405 chapter 6
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• Question 1
4 out of 4 points
The empirical evidence of the effectiveness of voucher programs is best described as
Answer
• Question 2
0 out of 4 points
Marginal social benefits equal
Answer
• Question 3
4 out of 4 points
The supply of private education is represented by
Answer
• Question 4
0 out of 4 points
The creation of new learning technologies will cause which of the following to decrease?
Answer
• Question 5
0 out of 4 points
I benefit because you become more educated. This is an example of a
Answer
• Question 6
4 out of 4 points
To be socially optimal, education should be provided to the point where
Answer
• Question 7
4 out of 4 points
What is the relationship between school funding and student achievement?
Answer
• Question 8
4 out of 4 points
Students learn about health and nutrition in school. This provides a
Answer
• Question 9
0 out of 4 points
Schools in which parents or other groups were permitted to create a new school with state funding and were given control over operations are known as
Answer
• Question 10
0 out of 4 points
Which of the following will decrease the equilibrium quantity of education in a market?
Answer
• Question 11
0 out of 4 points
In a purely private K-12 education system, spaces would be allocated based on
Answer
• Question 12
4 out of 4 points
In the existing public K-12 education system, spaces are allocated based on
Answer
• Question 13
0 out of 4 points
An increase in the demand for education will
Answer
• Question 14
0 out of 4 points
A decrease in the cost of education will
Answer
• Question 15
0 out of 4 points
With positive externalities in consumption, the market equilibrium quantity will be
Answer
ECO 405 CHAPTER 7
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ECO405 CHAPTER 7
•
• Question 1
4 out of 4 points
Discrimination occurs
Answer
• Question 2
4 out of 4 points
In 1996, the Personal Responsibility and Work Opportunity Act established which of the following programs?
Answer
• Question 3
4 out of 4 points
Which of the following is charged with enforcing the federal government's anti-discrimination laws?
Answer
• Question 4
4 out of 4 points
The major piece of legislation that makes it illegal to discriminate in the labor market on the basis of race, gender, or religion is the
Answer
• Question 5
4 out of 4 points
The incidence of poverty is highest among
Answer
• Question 6
4 out of 4 points
The Supplemental Social Insurance (SSI) program is not available to
Answer
• Question 7
4 out of 4 points
• Question 8
4 out of 4 points
Discrimination is indicated when
Answer
• Question 9
4 out of 4 points
A government transfer payment is a payment
Answer
• Question 10
4 out of 4 points
Ending discrimination against minority groups in educational processes and in employment situations would cause GDP to
Answer
• Question 11
4 out of 4 points
Spending on education, training, and health are examples of
Answer
• Question 12
4 out of 4 points
The Civil Rights Act of 1964 protects workers from discrimination based on all the following characteristics except one? Which one?
Answer
• Question 13
4 out of 4 points
Critics have claimed that the EITC
Answer
• Question 14
4 out of 4 points
Median earnings of year-round, full-time women workers are considerably less than those for men because women have
Answer
• Question 15
4 out of 4 points
The official U.S. poverty definition is an income sufficient to provide
Answer
ECO 405 Quiz 1
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• Question 1
4 out of 4 points
Given the amounts of resources available for an economy, GDP
Answer
• Question 2
4 out of 4 points
A three-year-old learns about the fundamental economic problem when she
Answer
• Question 3
4 out of 4 points
Which of the follow best describes human wants and desires? They
Answer
• Question 4
4 out of 4 points
Which of the following is the primary goal of an economy?
Answer
• Question 5
4 out of 4 points
Real per capita GDP is defined as
Answer
• Question 6
4 out of 4 points
The fundamental economic problem involves
Answer
• Question 7
4 out of 4 points
When comparing the performance of economies in terms of the average well-being of their inhabitants, which measure is most appropriate?
Answer
• Question 8
4 out of 4 points
The fundamental economic problem is
Answer
• Question 9
4 out of 4 points
A production possibilities curve represents all of an economy's combinations for production that are
Answer
• Question 10
4 out of 4 points
The means for satisfying wants are
Answer
• Question 11
4 out of 4 points
If education and food are the two goods that society can produce, an increase in the production technology for food will result in
Answer
• Question 12
4 out of 4 points
If an economy is experiencing unemployment, it is operating at a point
Answer
• Question 13
4 out of 4 points
If a country's GDP increases from $1m to $2m at the same time prices increase by half (50%), real GDP will
Answer
• Question 14
4 out of 4 points
To correct for inflation, GDP numbers must be converted using the price level in a given year known as the
Answer
• Question 15
4 out of 4 points
The quality of the labor force is often measured by
Answer
ECO 405 QUIZ 2
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ECO 405 QUIZ 2
• Question 1
4 out of 4 points
China's growth has been a result of
Answer
• Question 2
4 out of 4 points
Markets that fall between pure competition and monopoly are called:
Answer
• Question 3
4 out of 4 points
A market with only one seller of a product that has no good substitutes is called
Answer
• Question 4
4 out of 4 points
Which of the following is least consistent with the pure market economy?
Answer
• Question 5
0 out of 4 points
As the baby boom generation continues to age, what will happen to the equilibrium price and quantity of homes in retirement communities?
Answer
• Question 6
4 out of 4 points
If an increase in the price of bicycles leads to an increase in the demand for bus transportation, the bicycles and bus rides must be
Answer
• Question 7
4 out of 4 points
Which of the following descriptions fits the American economy best?
Answer
• Question 8
4 out of 4 points
Two goods are said to be substitutes in consumption if
Answer
• Question 9
4 out of 4 points
As consumer incomes rise, the demand curve for Good X shifts to the right. Given this, Good X must be
Answer
• Question 10
4 out of 4 points
The Law of Supply states that price and
Answer
• Question 11
4 out of 4 points
Suppose the United Auto Workers union successfully lobbies Congress to enact an import quota on all foreign cars imported into the U.S. Which of the following is most likely to occur in the U.S.?
Answer
• Question 12
4 out of 4 points
In a market economy,
Answer
• Question 13
4 out of 4 points
Since 1990, foreign investment in China has
Answer
• Question 14
4 out of 4 points
A student graduates from college and gets a high-paying job. As a result of the increase in income, the student buys more frozen pizzas. For the student, frozen pizzas must be a(n)
Answer
• Question 15
4 out of 4 points
You receive a big raise at work. As a result of your now higher income, you stop bringing your lunch from home and start eating lunch at a nearby restaurant. Your homemade lunches must be
Answer
• Question 16
4 out of 4 points
An increase in the wage from $6 per hour to $6.50 per hour causes a worker to increase her hours worked from 40 to 45 hours per week. For this worker, which effect dominates?
Answer
• Question 17
4 out of 4 points
To be effective, a price ceiling must be set
Answer
• Question 18
4 out of 4 points
As of summer 2009, the U.S. federal minimum wage is set at what rate per hour?
Answer
• Question 19
4 out of 4 points
The marginal product of labor is the additional
Answer
• Question 20
4 out of 4 points
Which effect dominates if a workers supply curve for labor is negatively sloped?
Answer
• Question 21
4 out of 4 points
One of the earliest known rent control laws was instituted in which city and when?
Answer
• Question 22
4 out of 4 points
Rent control laws will _____________ the search costs of potential renters.
Answer
• Question 23
4 out of 4 points
Which of the following measures the change in the hours of work that occurs when there is a change in income, other things equal?
Answer
• Question 24
4 out of 4 points
As the price of rental housing falls, which of the following occurs?
Answer
• Question 25
4 out of 4 points
Price floors are often instituted for which of the following purposes?
Answer
• Question 26
0 out of 4 points
A firm increases the number of workers it hires from 50 to 52, and as a result, output increases from 100 to 110. Each of the additional units of output can be sold for $2. What is the marginal revenue product of the 52nd
worker?
Answer
• Question 27
4 out of 4 points
The additional revenue a firm receives as a result of selling an additional unit of output is called
Answer
• Question 28
4 out of 4 points
The consequences of government intervention
Answer
• Question 29
4 out of 4 points
Price ceilings may be used on a selective basis to
Answer
• Question 30
4 out of 4 points
Research suggests that as the minimum wage is increased by 10%, the associated increase in the teenage unemployment rate is nearly
Answer
ECO 405 Quiz 9 chapter 13
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• Question 1
4 out of 4 points
Which of the following best describes when the economy is experiencing inflation? When
Answer
• Question 2
4 out of 4 points
Technological change in an industry that historically required specific labor skills will lead to
Answer
• Question 3
4 out of 4 points
A useful measure of the size of the workforce, that is, the number of individuals who are willing and able to work, is
Answer
• Question 4
4 out of 4 points
If inflation causes the demand for houses to increase more rapidly than the demand for other goods, the economy has experienced which effect
of inflation?
Answer
• Question 5
4 out of 4 points
In an economy like that of the US, due to a variety of institutional and social factors, wages tend to be
Answer
• Question 6
4 out of 4 points
Which price index is also known as the cost-of-living index?
Answer
• Question 7
4 out of 4 points
The psychological law of consumption tells us the marginal propensity to consume will be
Answer
Selected Answer:
han 0 but less than 1
• Question 8
4 out of 4 points
The effects of inflation on the distribution of income are called
Answer
• Question 9
4 out of 4 points
In the circular flow diagram, economic units are classified as
Answer
• Question 10
4 out of 4 points
Aggregate demand
Answer
• Question 11
4 out of 4 points
The Phillips curve depicts the relationship between
Answer
• Question 12
4 out of 4 points
The determinants of aggregate supply are
Answer
• Question 13
4 out of 4 points
Which of the following is most likely be hurt by inflation?
Answer
• Question 14
4 out of 4 points
People who are unemployed due to a downturn in economic activity are classified in the category of
Answer
• Question 15
4 out of 4 points
If inflation stimulates production and employment, the economy experiences which of the following effects of inflation?
Answer
ECO 405 Week 4 Assignment 1 Article Analysis
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Assignment 1: Article Analysis
Due Week 4 and worth 240 points
Locate a news article about an issue that has been addressed in Weeks 1 through 3 (e.g., poverty, pollution, etc.) in order to conduct a meta-analysis of the author’s economic perspective of the selected issue.
Write a six to eight (6-8) page paper in which you:
1. Provide a brief overview / synopsis of the issue.
2. Discuss the model or economic theory that relates to the issue presented in the news article.
3. Discuss what economic theory states and predicts about the issue presented in the news article.
4. Assess how the situation / issue presented in the news article aligns with economic theory. For example, does it make sense from an economic perspective; is the outcome presented in the article what economic theory would predict; etc.?
5. Use at least two (2) quality academic resources. Note:Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Analyze the economic impact of major social problems and issues such as poverty, discrimination, crime, income distribution, the role of government, and other major issues.
• Assess how the economic behavior of individuals, businesses, and governments can affect economic growth, social well-being, and the quality of life.
• Use technology and information resources to research economic problems and issues.
Write clearly and concisely about economic problems and issues using proper writing mechanics
ECO 405 Week 4 Quiz 3
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ECO 405 Week 4 Quiz 3 Strayer
For a tax on pollution to be effective, it must be
Answer
Question 2
4 out of 4 points
Another term for implicit cost is
Answer
Question 3
0 out of 4 points
Which of the following is a factor leading to pollution?
Answer
Question 4
0 out of 4 points
Requiring automobiles to pass emissions tests before being allowed on the road is an example of a(n)
Answer
Question 5
4 out of 4 points
The level of pollution increases when
Answer
Question 6
0 out of 4 points
The efficient level of pollution is zero only if the
Answer
Question 7
4 out of 4 points
Marginal private cost (MPC) always includes:
Answer
Question 8
4 out of 4 points
Costs incurred by the producer to buy or hire resources are called
Answer
Question 9
4 out of 4 points
Complete elimination of pollution is economically rational when
Answer
Question 10
0 out of 4 points
If a pollution tax is placed on a firm emitting pollution, the firm will treat pollution, rather than pay the tax, as long as the tax is
Answer
Question 11
4 out of 4 points
Human production processes do not include which of the following services?
Answer
Question 12
4 out of 4 points
Which of the following creates a positive externality in production?
Answer
Question 13
4 out of 4 points
Pollution rights markets
Answer
Question 14
4 out of 4 points
When the marginal private benefit of an activity does not equal the marginal social benefit, which of the following exists?
Answer
Question 15
4 out of 4 points
When the marginal private cost of an activity does not equal the marginal social cost, which of the following exists?
Answer
Question 16
4 out of 4 points
If you are willing to take a pay cut to live near a ski resort, the ski resort provides you with
Answer
Question 17
4 out of 4 points
If a law is passed making it illegal for unlicensed barbers to cut hair, which of the following will result?
Answer
Question 18
4 out of 4 points
When an individual receives benefits from a business endeavor in the form of personal satisfaction, the benefits are known as
Answer
Question 19
4 out of 4 points
The marginal cost of a good is
Answer
Question 20
4 out of 4 points
Government can effectively remedy the free-rider problem by
Answer
Question 21
4 out of 4 points
Police officers should be hired up to the point where
Answer
Question 22
4 out of 4 points
An additional expenditure on crime prevention should be allocated to the activity where
Answer
Question 23
4 out of 4 points
Which of the following exists when an individual consumes benefits from a public good but does not pay for its cost?
Answer
Question 24
4 out of 4 points
Which of the following decreases a person's implicit cost of engaging in the illegal production of marijuana?
Answer
Question 25
4 out of 4 points
Economics explains the decision to participate in criminal activities most often in the case of
Answer
Question 26
4 out of 4 points
Economic analysis of crime can
Answer
Question 27
4 out of 4 points
From an economic point of view, crime prevention activities should be expanded to the point at which
Answer
Question 28
4 out of 4 points
A group project has been assigned and most of the work ends up being produced by only one or two of the group's members. This is an example of
Answer
Question 29
4 out of 4 points
Arson is an example of a(n)
Answer
Question 30
4 out of 4 points
Prostitution is an example of a(n)
Answer
ECO 405 Week 8 Assignment 3 Economic Policy Recommendation
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Assignment 3: Economic Policy Recommendation
Due Week 8 and worth 300 points
Select an economic problem mentioned in the textbook as the topic for a policy recommendation.
Write a six to eight (6-8) page paper modeled as a policy recommendation in which you:
Briefly describe the economic problem you have selected.
Assess the impact the problem poses to society.
Design an economic policy solution to the problem.
Analyze the economic theory used to complete the policy solution and determine the impact on the appropriate stakeholders.
Analyze how the economic policy proposed would impact the market or solve the economic problem.
Use at least five (5) quality academic resources. Note:Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
Analyze the economic impact of major social problems and issues such as poverty, discrimination, crime, income distribution, the role of government, and other major issues.
Assess how the economic behavior of individuals, businesses, and governments can affect economic growth, social well-being, and the quality of life.
Use economic analysis to describe the social costs and benefits of government and public policy choices.
Analyze the relationship between economic activity and the resources available in a society.
Appraise the role of large firms in terms of economic performance and social impact.
Assess the major economic and related social issues associated with production, resource markets, and international trade.
Use technology and information resources to research economic problems and issues.
Write clearly and concisely about economic problems and issues using proper writing mechanics
Comments
Content
ECO 405 Chapter 13 quiz
Click Below Link To Purchase
www.foxtutor.com/product/eco-405-chapter-13-quiz
Eco 405 Chap 13 quiz
• Question 1
4 out of 4 points
Which of the following best describes when the economy is experiencing inflation? When
Answer
• Question 2
4 out of 4 points
Technological change in an industry that historically required specific labor skills will lead to
Answer
• Question 3
4 out of 4 points
A useful measure of the size of the workforce, that is, the number of individuals who are willing and able to work, is
Answer
• Question 4
4 out of 4 points
If inflation causes the demand for houses to increase more rapidly than the demand for other goods, the economy has experienced which effect
of inflation?
Answer
• Question 5
4 out of 4 points
In an economy like that of the US, due to a variety of institutional and social factors, wages tend to be
Answer
• Question 6
4 out of 4 points
Which price index is also known as the cost-of-living index?
Answer
• Question 7
4 out of 4 points
The psychological law of consumption tells us the marginal propensity to consume will be
Answer
• Question 8
4 out of 4 points
The effects of inflation on the distribution of income are called
Answer
• Question 9
4 out of 4 points
In the circular flow diagram, economic units are classified as
Answer
• Question 10
4 out of 4 points
Aggregate demand
Answer
Question 11
4 out of 4 points
The Phillips curve depicts the relationship between
Answer
• Question 12
4 out of 4 points
The determinants of aggregate supply are
Answer
• Question 13
4 out of 4 points
Which of the following is most likely be hurt by inflation?
Answer
• Question 14
4 out of 4 points
People who are unemployed due to a downturn in economic activity are classified in the category of
Answer
• Question 15
4 out of 4 points
ECO 405 chapter 6
Click Below Link To Purchase
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• Question 1
4 out of 4 points
The empirical evidence of the effectiveness of voucher programs is best described as
Answer
• Question 2
0 out of 4 points
Marginal social benefits equal
Answer
• Question 3
4 out of 4 points
The supply of private education is represented by
Answer
• Question 4
0 out of 4 points
The creation of new learning technologies will cause which of the following to decrease?
Answer
• Question 5
0 out of 4 points
I benefit because you become more educated. This is an example of a
Answer
• Question 6
4 out of 4 points
To be socially optimal, education should be provided to the point where
Answer
• Question 7
4 out of 4 points
What is the relationship between school funding and student achievement?
Answer
• Question 8
4 out of 4 points
Students learn about health and nutrition in school. This provides a
Answer
• Question 9
0 out of 4 points
Schools in which parents or other groups were permitted to create a new school with state funding and were given control over operations are known as
Answer
• Question 10
0 out of 4 points
Which of the following will decrease the equilibrium quantity of education in a market?
Answer
• Question 11
0 out of 4 points
In a purely private K-12 education system, spaces would be allocated based on
Answer
• Question 12
4 out of 4 points
In the existing public K-12 education system, spaces are allocated based on
Answer
• Question 13
0 out of 4 points
An increase in the demand for education will
Answer
• Question 14
0 out of 4 points
A decrease in the cost of education will
Answer
• Question 15
0 out of 4 points
With positive externalities in consumption, the market equilibrium quantity will be
Answer
ECO 405 CHAPTER 7
Click Below Link To Purchase
www.foxtutor.com/product/eco-405-chapter-7
ECO405 CHAPTER 7
•
• Question 1
4 out of 4 points
Discrimination occurs
Answer
• Question 2
4 out of 4 points
In 1996, the Personal Responsibility and Work Opportunity Act established which of the following programs?
Answer
• Question 3
4 out of 4 points
Which of the following is charged with enforcing the federal government's anti-discrimination laws?
Answer
• Question 4
4 out of 4 points
The major piece of legislation that makes it illegal to discriminate in the labor market on the basis of race, gender, or religion is the
Answer
• Question 5
4 out of 4 points
The incidence of poverty is highest among
Answer
• Question 6
4 out of 4 points
The Supplemental Social Insurance (SSI) program is not available to
Answer
• Question 7
4 out of 4 points
• Question 8
4 out of 4 points
Discrimination is indicated when
Answer
• Question 9
4 out of 4 points
A government transfer payment is a payment
Answer
• Question 10
4 out of 4 points
Ending discrimination against minority groups in educational processes and in employment situations would cause GDP to
Answer
• Question 11
4 out of 4 points
Spending on education, training, and health are examples of
Answer
• Question 12
4 out of 4 points
The Civil Rights Act of 1964 protects workers from discrimination based on all the following characteristics except one? Which one?
Answer
• Question 13
4 out of 4 points
Critics have claimed that the EITC
Answer
• Question 14
4 out of 4 points
Median earnings of year-round, full-time women workers are considerably less than those for men because women have
Answer
• Question 15
4 out of 4 points
The official U.S. poverty definition is an income sufficient to provide
Answer
ECO 405 Quiz 1
Click Below Link To Purchase
www.foxtutor.com/product/eco-405-quiz-1
• Question 1
4 out of 4 points
Given the amounts of resources available for an economy, GDP
Answer
• Question 2
4 out of 4 points
A three-year-old learns about the fundamental economic problem when she
Answer
• Question 3
4 out of 4 points
Which of the follow best describes human wants and desires? They
Answer
• Question 4
4 out of 4 points
Which of the following is the primary goal of an economy?
Answer
• Question 5
4 out of 4 points
Real per capita GDP is defined as
Answer
• Question 6
4 out of 4 points
The fundamental economic problem involves
Answer
• Question 7
4 out of 4 points
When comparing the performance of economies in terms of the average well-being of their inhabitants, which measure is most appropriate?
Answer
• Question 8
4 out of 4 points
The fundamental economic problem is
Answer
• Question 9
4 out of 4 points
A production possibilities curve represents all of an economy's combinations for production that are
Answer
• Question 10
4 out of 4 points
The means for satisfying wants are
Answer
• Question 11
4 out of 4 points
If education and food are the two goods that society can produce, an increase in the production technology for food will result in
Answer
• Question 12
4 out of 4 points
If an economy is experiencing unemployment, it is operating at a point
Answer
• Question 13
4 out of 4 points
If a country's GDP increases from $1m to $2m at the same time prices increase by half (50%), real GDP will
Answer
• Question 14
4 out of 4 points
To correct for inflation, GDP numbers must be converted using the price level in a given year known as the
Answer
• Question 15
4 out of 4 points
The quality of the labor force is often measured by
Answer
ECO 405 QUIZ 2
Click Below Link To Purchase
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ECO 405 QUIZ 2
• Question 1
4 out of 4 points
China's growth has been a result of
Answer
• Question 2
4 out of 4 points
Markets that fall between pure competition and monopoly are called:
Answer
• Question 3
4 out of 4 points
A market with only one seller of a product that has no good substitutes is called
Answer
• Question 4
4 out of 4 points
Which of the following is least consistent with the pure market economy?
Answer
• Question 5
0 out of 4 points
As the baby boom generation continues to age, what will happen to the equilibrium price and quantity of homes in retirement communities?
Answer
• Question 6
4 out of 4 points
If an increase in the price of bicycles leads to an increase in the demand for bus transportation, the bicycles and bus rides must be
Answer
• Question 7
4 out of 4 points
Which of the following descriptions fits the American economy best?
Answer
• Question 8
4 out of 4 points
Two goods are said to be substitutes in consumption if
Answer
• Question 9
4 out of 4 points
As consumer incomes rise, the demand curve for Good X shifts to the right. Given this, Good X must be
Answer
• Question 10
4 out of 4 points
The Law of Supply states that price and
Answer
• Question 11
4 out of 4 points
Suppose the United Auto Workers union successfully lobbies Congress to enact an import quota on all foreign cars imported into the U.S. Which of the following is most likely to occur in the U.S.?
Answer
• Question 12
4 out of 4 points
In a market economy,
Answer
• Question 13
4 out of 4 points
Since 1990, foreign investment in China has
Answer
• Question 14
4 out of 4 points
A student graduates from college and gets a high-paying job. As a result of the increase in income, the student buys more frozen pizzas. For the student, frozen pizzas must be a(n)
Answer
• Question 15
4 out of 4 points
You receive a big raise at work. As a result of your now higher income, you stop bringing your lunch from home and start eating lunch at a nearby restaurant. Your homemade lunches must be
Answer
• Question 16
4 out of 4 points
An increase in the wage from $6 per hour to $6.50 per hour causes a worker to increase her hours worked from 40 to 45 hours per week. For this worker, which effect dominates?
Answer
• Question 17
4 out of 4 points
To be effective, a price ceiling must be set
Answer
• Question 18
4 out of 4 points
As of summer 2009, the U.S. federal minimum wage is set at what rate per hour?
Answer
• Question 19
4 out of 4 points
The marginal product of labor is the additional
Answer
• Question 20
4 out of 4 points
Which effect dominates if a workers supply curve for labor is negatively sloped?
Answer
• Question 21
4 out of 4 points
One of the earliest known rent control laws was instituted in which city and when?
Answer
• Question 22
4 out of 4 points
Rent control laws will _____________ the search costs of potential renters.
Answer
• Question 23
4 out of 4 points
Which of the following measures the change in the hours of work that occurs when there is a change in income, other things equal?
Answer
• Question 24
4 out of 4 points
As the price of rental housing falls, which of the following occurs?
Answer
• Question 25
4 out of 4 points
Price floors are often instituted for which of the following purposes?
Answer
• Question 26
0 out of 4 points
A firm increases the number of workers it hires from 50 to 52, and as a result, output increases from 100 to 110. Each of the additional units of output can be sold for $2. What is the marginal revenue product of the 52nd
worker?
Answer
• Question 27
4 out of 4 points
The additional revenue a firm receives as a result of selling an additional unit of output is called
Answer
• Question 28
4 out of 4 points
The consequences of government intervention
Answer
• Question 29
4 out of 4 points
Price ceilings may be used on a selective basis to
Answer
• Question 30
4 out of 4 points
Research suggests that as the minimum wage is increased by 10%, the associated increase in the teenage unemployment rate is nearly
Answer
ECO 405 Quiz 9 chapter 13
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• Question 1
4 out of 4 points
Which of the following best describes when the economy is experiencing inflation? When
Answer
• Question 2
4 out of 4 points
Technological change in an industry that historically required specific labor skills will lead to
Answer
• Question 3
4 out of 4 points
A useful measure of the size of the workforce, that is, the number of individuals who are willing and able to work, is
Answer
• Question 4
4 out of 4 points
If inflation causes the demand for houses to increase more rapidly than the demand for other goods, the economy has experienced which effect
of inflation?
Answer
• Question 5
4 out of 4 points
In an economy like that of the US, due to a variety of institutional and social factors, wages tend to be
Answer
• Question 6
4 out of 4 points
Which price index is also known as the cost-of-living index?
Answer
• Question 7
4 out of 4 points
The psychological law of consumption tells us the marginal propensity to consume will be
Answer
Selected Answer:
han 0 but less than 1
• Question 8
4 out of 4 points
The effects of inflation on the distribution of income are called
Answer
• Question 9
4 out of 4 points
In the circular flow diagram, economic units are classified as
Answer
• Question 10
4 out of 4 points
Aggregate demand
Answer
• Question 11
4 out of 4 points
The Phillips curve depicts the relationship between
Answer
• Question 12
4 out of 4 points
The determinants of aggregate supply are
Answer
• Question 13
4 out of 4 points
Which of the following is most likely be hurt by inflation?
Answer
• Question 14
4 out of 4 points
People who are unemployed due to a downturn in economic activity are classified in the category of
Answer
• Question 15
4 out of 4 points
If inflation stimulates production and employment, the economy experiences which of the following effects of inflation?
Answer
ECO 405 Week 4 Assignment 1 Article Analysis
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Assignment 1: Article Analysis
Due Week 4 and worth 240 points
Locate a news article about an issue that has been addressed in Weeks 1 through 3 (e.g., poverty, pollution, etc.) in order to conduct a meta-analysis of the author’s economic perspective of the selected issue.
Write a six to eight (6-8) page paper in which you:
1. Provide a brief overview / synopsis of the issue.
2. Discuss the model or economic theory that relates to the issue presented in the news article.
3. Discuss what economic theory states and predicts about the issue presented in the news article.
4. Assess how the situation / issue presented in the news article aligns with economic theory. For example, does it make sense from an economic perspective; is the outcome presented in the article what economic theory would predict; etc.?
5. Use at least two (2) quality academic resources. Note:Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Analyze the economic impact of major social problems and issues such as poverty, discrimination, crime, income distribution, the role of government, and other major issues.
• Assess how the economic behavior of individuals, businesses, and governments can affect economic growth, social well-being, and the quality of life.
• Use technology and information resources to research economic problems and issues.
Write clearly and concisely about economic problems and issues using proper writing mechanics
ECO 405 Week 4 Quiz 3
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ECO 405 Week 4 Quiz 3 Strayer
For a tax on pollution to be effective, it must be
Answer
Question 2
4 out of 4 points
Another term for implicit cost is
Answer
Question 3
0 out of 4 points
Which of the following is a factor leading to pollution?
Answer
Question 4
0 out of 4 points
Requiring automobiles to pass emissions tests before being allowed on the road is an example of a(n)
Answer
Question 5
4 out of 4 points
The level of pollution increases when
Answer
Question 6
0 out of 4 points
The efficient level of pollution is zero only if the
Answer
Question 7
4 out of 4 points
Marginal private cost (MPC) always includes:
Answer
Question 8
4 out of 4 points
Costs incurred by the producer to buy or hire resources are called
Answer
Question 9
4 out of 4 points
Complete elimination of pollution is economically rational when
Answer
Question 10
0 out of 4 points
If a pollution tax is placed on a firm emitting pollution, the firm will treat pollution, rather than pay the tax, as long as the tax is
Answer
Question 11
4 out of 4 points
Human production processes do not include which of the following services?
Answer
Question 12
4 out of 4 points
Which of the following creates a positive externality in production?
Answer
Question 13
4 out of 4 points
Pollution rights markets
Answer
Question 14
4 out of 4 points
When the marginal private benefit of an activity does not equal the marginal social benefit, which of the following exists?
Answer
Question 15
4 out of 4 points
When the marginal private cost of an activity does not equal the marginal social cost, which of the following exists?
Answer
Question 16
4 out of 4 points
If you are willing to take a pay cut to live near a ski resort, the ski resort provides you with
Answer
Question 17
4 out of 4 points
If a law is passed making it illegal for unlicensed barbers to cut hair, which of the following will result?
Answer
Question 18
4 out of 4 points
When an individual receives benefits from a business endeavor in the form of personal satisfaction, the benefits are known as
Answer
Question 19
4 out of 4 points
The marginal cost of a good is
Answer
Question 20
4 out of 4 points
Government can effectively remedy the free-rider problem by
Answer
Question 21
4 out of 4 points
Police officers should be hired up to the point where
Answer
Question 22
4 out of 4 points
An additional expenditure on crime prevention should be allocated to the activity where
Answer
Question 23
4 out of 4 points
Which of the following exists when an individual consumes benefits from a public good but does not pay for its cost?
Answer
Question 24
4 out of 4 points
Which of the following decreases a person's implicit cost of engaging in the illegal production of marijuana?
Answer
Question 25
4 out of 4 points
Economics explains the decision to participate in criminal activities most often in the case of
Answer
Question 26
4 out of 4 points
Economic analysis of crime can
Answer
Question 27
4 out of 4 points
From an economic point of view, crime prevention activities should be expanded to the point at which
Answer
Question 28
4 out of 4 points
A group project has been assigned and most of the work ends up being produced by only one or two of the group's members. This is an example of
Answer
Question 29
4 out of 4 points
Arson is an example of a(n)
Answer
Question 30
4 out of 4 points
Prostitution is an example of a(n)
Answer
ECO 405 Week 8 Assignment 3 Economic Policy Recommendation
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Assignment 3: Economic Policy Recommendation
Due Week 8 and worth 300 points
Select an economic problem mentioned in the textbook as the topic for a policy recommendation.
Write a six to eight (6-8) page paper modeled as a policy recommendation in which you:
Briefly describe the economic problem you have selected.
Assess the impact the problem poses to society.
Design an economic policy solution to the problem.
Analyze the economic theory used to complete the policy solution and determine the impact on the appropriate stakeholders.
Analyze how the economic policy proposed would impact the market or solve the economic problem.
Use at least five (5) quality academic resources. Note:Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
Analyze the economic impact of major social problems and issues such as poverty, discrimination, crime, income distribution, the role of government, and other major issues.
Assess how the economic behavior of individuals, businesses, and governments can affect economic growth, social well-being, and the quality of life.
Use economic analysis to describe the social costs and benefits of government and public policy choices.
Analyze the relationship between economic activity and the resources available in a society.
Appraise the role of large firms in terms of economic performance and social impact.
Assess the major economic and related social issues associated with production, resource markets, and international trade.
Use technology and information resources to research economic problems and issues.
Write clearly and concisely about economic problems and issues using proper writing mechanics
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