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
An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in B. macroeconomic research Auto answered|Score .8667|jher000|Points 8031|User:
A basic difference between microeconomics and macroeconomics is that microeconomicsWeegy:
A basic difference between microeconomics and macroeconomics is that microeconomics is concerned with individual businesses and consumers, including considerations for consumer buying habits with relation to a particular individual or one business. Macroeconomics, on the other hand, looks at the economy on a larger scale and considers the financial activities of an entire country, or numerous countries that affect each other financially. www.wisegeek.com/what-is-the-difference-between-microeconomics-and-macroeconomics.htmAuto answered|Score 1User:
The distinction between supply and the quantity supplied is best made by saying thatWeegy:
The answer is: the quantity supplied is represented graphically by a curve and supply as a point on that curve associated with a particular priceAuto answered|Score .8561|amie12wyn|Points 90|User:
After several years of slow economic growth, world demand for petroleum began to rise rapidly in the 1990s. Much of the increase in demand was met by additional supplies from sources outside the Organization of Petroleum Exporting Countries (OPEC). OPEC, during this time, was unable to restrain output among members in its effort to lift oil prices. What best describes these events?Weegy:
The rise in demand reflects a movement down along the demand curve as supply shifted to the right when suppliers produced more oil. Auto answered|Score 1|samn|Points 3698|User:
Price elasticity of demand is the:Weegy:
Elastic - When a change in price results in an even bigger change in quantity demanded. e.g. Cars
Inelastic - When a change in price results in an even smaller change in quantity demanded, e.g. cigarettes, alcohol, etc.
Economics studentAuto answered|Score .8823|swaggirl2|Points 31|User:
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:Weegy:
There were 23 children's tickets sold, 32 student tickets sold and 45 adult tickets sold.Auto answered|Score .7|Lhei0910|Points 172|User:
When labor is the variable input, the average product equals theWeegy:
The answer is "quantity of output divided by the number of workers"Auto answered|Score 1|bongche|Points 3864|User:
The increase in output obtained by hiring an additional worker is known asWeegy:
What Is the increase in output obtained by hiring an additional worker? marginal product The increase output of urine is known as a? Diuresis [ http://wiki.answers.com/Q/What_Is_the_increase_in_output_obtained_by_hiring_a
] Auto answered|Score .7231User:
Which of the following is the best example of a long-run decision?Weegy:
Related Answers Explore the latest questions and answers related to "Which of the following is the best example of a long-run decision?" [ http://aolanswers.com/questions/which_of_the_following_is_the_best_example_of_a_longrun_decision_p186537421711925
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Which of the following is the best example of a long-run decision?
A. An automobile manufacturing company is considering whether or not to invest in robotic equipment to develop a more cost-effective production technique.
B. An automobile manufacturing company is considering whether or not to expand its existing workforce, while keeping the same factory and equipment.
C. A business consulting firm is considering whether or not to hire interns to assist with research and data processing.
D. A business consulting firm is considering whether or not to add new computers while maintaining the same number of employees.
A. An automobile manufacturing company is considering whether or not to invest in robotic equipment to develop a more cost-effective production technique.Auto answered|Score 1|may100|Points 2276|User:
Other things being equal, when average productivity falls,Weegy:
Other things being equal, when average productivity falls, marginal cost must rise.
]Auto answered|Score 1|paral|Points 3585|User:
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 willWeegy:
on busy days when the effective hourly wage is higher, taxi drivers will work fewer hours than they will on slower days.Auto answered|Score .6|wiwit|Points 688|User:
A firm's demand for labor is derived from theWeegy:
A firm's demand for labor is derived from the
The demand for labour comes from the employer. We shall start with this side of the market. [ Then we move onto the issue of labour supply before analysing the determination of wage rates in competitive and imperfectly competitive labour markets. ] Auto answered|Score 1|wolflin29|Points 100|User:
) Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all three vans are in constant use, allowing him to increase deliveries per day from 60 to 75. This will cost an additional $75 per day to hire the fourth driver. The marginal cost per delivery of increasing output beyond 60 deliveries per dayWeegy:
Marginal cost is the cost of producing one more unit of good. If Owen employs ONE MORE driver, he has to pay an ADDITIONAL $75 per day.
]Auto answered|Score .9045|emdjay23|Points 410|User:
Expected economic profit per unit is equal toWeegy:
In the long term, expected econ profit is 0. (there is still normal profit and enough revenue to cover costs).
In the short term, [ depends on other factors in the market. http://answers.yahoo.com/question/?qid=20120403143156AAhPXVo
] Auto answered|Score 1User:
If a firm in a perfectly competitive market experiences a technological breakthrough, Weegy:
If a firm in a perfectly competitive market experiences a technological breakthrough,
Some firms would find out about it, but others would not.Auto answered|Score .6|Victoria123|Points 106|User:
A significant difference between monopoly and perfect competition is thatWeegy:
Perfect competition is the market in which there is a large number of buyers and sellers. The goods sold in this market are identical. A single price prevails in the market. On the other hand monopoly is a type of imperfect market. [ The number of sellers is one but the number of buyers is many. A monopolist is a price-maker. In fact monopoly is the opposite of perfect competition.
Firm under perfect competition and the firm under monopoly are similar as the aim of both the seller is to maximise profit and to minimise loss. The equilibrium position followed by both the monopoly and perfect competition is MR = MC. Despite there similarities, these two forms of market organization differ from each other in respect of price-cost-output. There are many points of difference which are noted below.
(1) Under perfect competition there are a large number of buyers and sellers in the market competing with each other. The price fixed by the industry is accepted by all the firms operating in the market. As against this under monopoly, there is only one single seller but a large number of buyers. The distinction between, firm and industry disappears under this type of market situation.
(2) The average revenue curves under competition and monopoly take different shapes. The average revenue (price) curve under perfect competition is a horizontal straight line parallel to OX-axis. The industry demand curve or revenue curve slopes downward from left to right. But under monopoly the firm is itself the industry.
There is only one demand curve common both to the monopoly firm and monopoly firm and monopoly industry. The average revenue curve under monopoly slopes downward and its corresponding marginal revenue curve lie below the average revenue curve. Under perfect competition MR Curve is the same as AR Curve.
(3) Under perfect competition price equals marginal cost at the equilibrium output, but under monopoly equilibrium price is greater than marginal cost. Under perfect competition marginal revenue is the same as average revenue at all levels of output. ] Auto answered|Score .9247|nielnaC|Points 140|User:
A monopoly firm is different from a competitive firm in thatWeegy:
It can't be E because a Monopoly is a company that is the whole of the market for their product. That is why Monopolies are considered "wrong". [ The government believes competition is the way to give consumers fair prices. So, B is not correct, either. Since the Monopoly is the only maker of a specific product or service, they can charge what they want to, and people either pay it or don't get it. The companies in competition, however, are eager to offer low prices in order to get more business. So, the answer is D. http://answers.yahoo.com/question/?qid=20071102143326AAhbAVg
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The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces aWeegy:
A perfectly competitive firm will maximize profit when P=MC=MR, It is a price taker. In the long run, it will produce at the minimum average total cost.Monopolistically competitive firm will maximize when MC=MR. [ It has a market power.It won't produce at minimum average cost even in the long run - http://yhoo.it/SWnoY4
] Auto answered|Score .6|kenrey|Points 26|User:
As long as marginal cost is below marginal revenue, a perfectly competitive firm shouldWeegy:
A. Because you're making money. [http://answers.yahoo.com/question/?qid=20120323161624AAiQrCf
]Auto answered|Score 1User:
Because a monopolistic competitor has some monopoly power, advertising to increase that monopoly power makes sense as long as the marginalWeegy:
Because a monopolistic competitor has some monopoly power, advertising to increase that monopoly power makes sense as long as the marginal A. [ benefit of advertising www.weegy.com/?ConversationId=57291217
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In the Flint Hills area of Kansas, proposals to build wind turbines to generate electricity have pitted environmentalist against environmentalist. Members of the Kansas Sierra Club support the turbines as a way to reduce fossil fuel usage, while local chapters of the Nature Conservancy say they will befoul the landscape. The Sierra Club argues that wind turbinesWeegy:
B. reduce negative externalities elsewhere in the economy Auto answered|Score .7829|bhebhekoh|Points 90|User:
When negative externalities are present, market failure often occurs becauseWeegy:
In economics, an externality, or transaction spillover, [ is a cost or benefit that is not transmitted through prices and is incurred by a party who did not agree to the action causing the cost or benefit.[dubious ? discuss] The cost of an externality is a negative externality, or external cost, while the benefit of an externality is a positive externality, or external benefit. ] Auto answered|Score .5292|scijoe21|Points 2275|User:
A merger between a textile mill and a clothing manufacturing company would be considered aWeegy:
A merger between a textile mill and a clothing manufacturing company would be considered [www.coursehero.com/file/7129428/ECO-365-Final-Exam/
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