Essay on Eco 365 Final Exam

1362 Words Nov 5th, 2015 6 Pages
CRAM Exclusive
Essay Sample
A++PAPER;http://www.homeworkproviders.com/shop/eco-365-final-exam/ ECO 365 FINAL EXAM ECO 365 FINAL EXAM,1) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in A. microeconomic research B. macroeconomic research C. theoretical research, because there is no data on these variables D. empirical research, because there is no economic theory related to these variables 2) A basic difference between

middle of document…

the average product
B. the marginal product
C. the total product
D. value added
9) Which of the following is the best example of a long-run decision?
10) Other things being equal, when average productivity falls,
A. average fixed cost must rise
B. marginal cost must rise
C. average total cost must rise
D. average variable cost must rise

According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work by setting an income goal for themselves. If this is true, then on busy days when the effective hourly wage is higher, taxi drivers will
A. work the same number of hours as they will on slower days
B. work fewer hours than they will on slower days
C. work more hours than they will on slower days
D. not work any hours

12) A firm’s demand for labor is derived from the
A. opportunity costs associated with labor and leisure
B. desires and needs of the entrepreneur
C. cost of labor inputs
D. demand for its output

13) Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering
CRAM Exclusive
Cane90391June

Related Documents

  • Essay on Eco 561 Final Exam

    ECO 561 final exam answers UOP and its answers are not only dedicated to make the students understand concepts of business and its applications. In addition, it also develops a habit among the students to think critical and apply the theoretical concepts learned in the classes to the real world of business. The final exam highlights that understanding the market and its concept at the initial stages saves much effort, time, and resources for the company at later stages. For example, if an entrepreneur

    Words: 2312 - Pages: 10
  • Eco 365 Final Exam (30/30) Essay

    What best describes these events? 5) Price elasticity of demand is the: 6) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about: 7) When labor is the variable input, the average product equals the 8) The increase in output obtained by hiring an additional worker is known as A. the average product B. the marginal product C. the total product D. value added 9) Which

    Words: 1396 - Pages: 6
  • Eco 365 Week 5 Final Exam Essay

    The mold can be reused to make additional whales, and so additional whales cost $5,000 each. Based on these numbers, the production of fake killer whales exhibits: Increasing returns to scale Decreasing returns to scale Diminishing marginal product Constant returns to scale Using 100 workers and 10 machines, a firm can produce 10,000 units of output; using 250 workers and 25 machines, the firm produces 21,000 units of output. These facts are best explained by: Economies of scale

    Words: 1800 - Pages: 8
  • Eco 365 Week 5 Knowledge Check Essay

    Restrictions • Trade restrictions increased, but there was little change in world income • The incomes of most nations increased, allowing them to become more self-sufficient. Want to see the complete Quiz or Knowledge Check..?? Click ECO 365 Final Exam Knowledge Check 8. As a country develops economically, what changes usually take place in the goods it exports? • There is little change because comparative advantage does not change. • Raw materials and agricultural products decline

    Words: 818 - Pages: 4
  • Essay about Eco 365 Week 3 Knowledge Check

    the University Of Phoenix ECO 365 Week 3 Knowledge Check the author is working in the field of education from last 5 years. This article covers the basic of ECO 365 Final Exam Knowledge Check from UOP. Other topics in the class are as follows: ECO 365 Week 1 DQ 1 ECO 365 Week 1 DQ 2 ECO 365 Week 1 DQ 3 ECO 365 Week 1 Knowledge Check ECO 365 Week 1 Complete ECO 365 Week 2 DQ 1 ECO 365 Week 2 DQ 2 ECO 365 Week 2 DQ 3 ECO 365 Week 2 Individual Assignments ECO 365 Week 2 Learning Team Reflection

    Words: 614 - Pages: 3
  • Eco 365 (Principles of Microeconomis) Entire Class Essay

    How does price elasticity of demand affect a firm’s pricing decisions? How does the availability of substitutes affect price elasticity of demand? Provide examples. ECO 365 Week 2 Complete Work ECO 365 Week 2 IA Supply & Demand Simulation A number of factors, including price increases or decreases, cause changes in supply and demand. An incremental decrease in the rental price led to a huge increase in the demand for houses. Similarly, an increase in the rental price of two roomed apartments

    Words: 1508 - Pages: 7
  • Essay on Eco 365 (Principles of Microeconomis) Complete Course

    How does price elasticity of demand affect a firm’s pricing decisions? How does the availability of substitutes affect price elasticity of demand? Provide examples. ECO 365 Week 2 Complete Work ECO 365 Week 2 IA Supply & Demand Simulation A number of factors, including price increases or decreases, cause changes in supply and demand. An incremental decrease in the rental price led to a huge increase in the demand for houses. Similarly, an increase in the rental price of two roomed apartments

    Words: 1514 - Pages: 7
  • Eco 365 Entire Course All Dqs and Assignments Essay

    t Description ECO 365 Entire Course All DQs and Assignments Week 1 ECO 365 Week 1 Article Analysis Paper ECO 365 Week 1 Discussion Questions 1, 2 and 3 Week 2 ECO 365 Week 2 Individual Supply & Demand Simulation ECO 365 Week 2 Discussion Questions1, 2 and 3 ECO 365 Week 2 Learning Team Organization Industry Overview Week 3 ECO 365 Week3 Discussion Questions1, 2 and 3 ECO 365 Week 3 Learning Team Current Market Conditions Competitive analysis

    Words: 829 - Pages: 4
  • Eco 450 Entire Course All Weeks Discussion Question, Quizzes, Assignments + Final Exam

    Health Care Dilemma ECO 450 Week 5 Mid Term ECO 450 Week 6 DQ 1 Taxation and Government Finance ECO 450 Week 6 DQ 2 Evaluating Alternative Methods to Finance Government ECO 450 Week 6 Quiz ECO 450 Week 7 DQ 1 Taxation and Income ECO 450 Week 7 DQ 2 The National Debt ECO 450 Week 7 Quiz ECO 450 Week 8 Assignment 2 The Value-Added Tax Is It Good for the United States ECO 450 Week 8 DQ 1 The U.S. Tax System ECO 450 Week 8 DQ 2 Personal Income Tax ECO 450 Week 8 Quiz ECO 450 Week 9 DQ 1 Corporate

    Words: 1000 - Pages: 4
  • Eco 561 Final Exam Essay

    unable to meet foreign competition, a U.S. watch manufacturer sells one of its branch plants C. a steel manufacturer cuts back on its purchases of coke and iron ore D. a farmer uses an extra dose of fertilizer on his corn crop 13) Paying an above-equilibrium wage rate might reduce unit labor costs by: A. increasing the supply of labor B. increasing the cost to workers of being fired for shirking C. increasing voluntary worker turnover D. permitting the firm to attract lower-quality

    Words: 1523 - Pages: 7