Comparison of marginal revenue to marginal cost

Final Exam Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. Comparison of marginal revenue to marginal cost (i)reveals the contribution of the last unit of production to total profit. (ii)is helpful in making profit-maximizing production decisions. (iii)tells a firm whether its fixed costs are… Continue reading Comparison of marginal revenue to marginal cost

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Countercyclical discretionary fiscal policy

1.       Because the Federal government typically provides disaster relief to farmers, many farmers do not buy crop insurance even through it is federally subsidized. This illustrates: 2.     In order for mutually beneficial trade to occur between two otherwise isolated nations: 3.     Countercyclical discretionary fiscal policy calls for: 4.     The primary gain from international trade is: 5.     Research for industrially advanced… Continue reading Countercyclical discretionary fiscal policy

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Economic growth, business cycles, and inflation

ECON 2105 EXAM 3 CHAPTERS 19, 20, AND 21 FALL 2014 1. During a business cycle expansion, total production ________ and total employment ________. A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases   2.Macroeconomics seeks to understand A) economic growth, business cycles, and inflation. B) industry sales, marketing strategies and corporate… Continue reading Economic growth, business cycles, and inflation

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Endogenous Verses Exogenous Growth Theories

Research Project 2: Endogenous Verses Exogenous Growth Theories In neoclassical growth models, the sources of growth, is exogenous usually “technology”. Such theoretical models hence are able to describe how an economy grows, but not why it grows. To overcome this shortcoming, several growth models have been developed that make growth an endogenous variable. In contrast… Continue reading Endogenous Verses Exogenous Growth Theories

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Price Elasticity of Demand Analysis Paper

Assignment          In this Assignment, you will focus on marginal utility, Price Elasticity of Demand, and understanding the difference between Price Elasticity of Demand and Income Elasticity of Demand.   We all subconsciously assign “scores” to what we are considering to purchase, based on our expected level of “satisfaction” (Marginal Utility) with that purchase. When… Continue reading Price Elasticity of Demand Analysis Paper

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