Thanks for the request. What's your deadline for this.
WELL I WAS HOPING FOR TODAY IF POSSIBLE. IT WOULD BE GREAT
Hope this helps!
I can't download the file for some reason my computer jsut goes to a blank page please help me
I have to go back to work so i will check again at 5 or 5:30 it is 11:50 right now if you care to know, thanks again for your help you have been a life savor.
Sorry, I don't have the answers to these exams. I would suggest that you make separate
posts for each exam and include the questions and multiple choices.
HERE ARE A FEW QUESTIONS, THANK YOU IN ADVANCE
1. Goods that are NONRIVAL in consuption
A. are congested in consumption
B. are typically consumed jointly. (this is what i think it is)
C. can't be provided in the private secctor.
D. are always excluded.
2. Which of the following statements is Correct?
A. Tradable pollution permits exempt a firm from paying for its pollution
B. Pigovian taex from pollution firms are used to fund pollution permits.
C. There are no advantages to allowing a market for pollution permits.
D. Tradable pollution permits may be preferred to Pigovian taxes in some cases.
3. Environmentalists argue that we should protect the environment as much as possible, regardless of the cost involved. Which of the following is one of these costs?
A. Lower levels of nutrition and inadequate health care
B. A higher standard of living, but less available housing.
C. Increasing technological advancement
D. More expensive utilities, but lower taxes.
4. One reason that markets fail to allocate common resources efficiently is that
A. prices change in irregular ways.
B. social optimum doesn't occur at market equilibrium.
C. property rights aren't well established.
D. social welfare isn't maiximized at maret equilibrium.
I am sure when i do my next test i will have a few questions on it as well. Thank You again for your Help. :)
Sorry for the delay, but I was offline most of the day and just saw your reply. Here are the answers for comparison with your own.
1. B. are typically consumed jointly.
2. D. Tradable pollution permits may be preferred to Pigovian taxes in some cases.
3. A. Lower levels of nutrition and inadequate health care
4. B. social optimum doesn't occur at market equilibrium.
I am sure i will have some more questions for you later. Thank you for your Help.
Thanks for the 'accept'. I'll be glad to assist you with further questions.
1. When two goods are perfect complements, the indifference curves are A. straight lines. C. intersecting. B. right angles. D. upward-sloping. 2. In a state where voters directly decide the size of the education budget, 25 percent want no increase, 30 percent want a decrease, 10 percent want a small increase, and 35 percent want a large increase. If the median voter theorem applies here, what budget decision will result? A. No increase B. Decrease C. Small increase D. Large increase 3. The wage difference between jobs that require education and those that don't A. isn't likely to be related to productivity differences. B. encourages workers to bear the cost of acquiring education. C. is a barrier to obtaining an education. D. doesn't affect the supply of workers in the different labor markets. 4. When leisure is a normal good, the income effect from an increase in wages is manifest in A. a desire to consume more leisure. B. a desire to consume less leisure. C. the backward-bending portion of labor supply. D. a shift in labor demand. 5. The liberalism doctrine suggests that the focus of social policy would be to A. elevate the well-being of all workers. B. elevate the well-being of those at the bottom of the income distribution. C. ensure an egalitarian distribution of income. D. expropriate the factors of production from the capitalist class. 6. Employers who operate in competitive product markets and choose to practice discrimination in hiring workers A. will survive if they increase production and garner a larger market share. B. will eventually earn zero economic profits. C. are likely to eventually go out of business. D. will survive as long as they're willing to have a smaller market share. 7. Goods that are difficult to substitute for each other will likely exhibit indifference curves that A. are less bowed. C. are more bowed. B. cross less frequently. D. have a slope close to -1. 8. There's an increasing gap in wages between unskilled and skilled workers in the United States. One hypothesis to explain the gap is that when the United States increased its participation in world markets, specialization and the pursuit of comparative advantage precipitated a A. fall in domestic demand for unskilled labor. B. rise in domestic demand for unskilled labor. C. fall in domestic supply of unskilled labor. D. rise in domestic supply of unskilled labor. 9. An example of a transitory change in income is A. the increase in income that results from a job promotion linked to your education. B. the increase in income of California orange growers due to an orange-killing frost in Florida. C. the annual cost-of-living adjustment to your salary. D. an increase in income from personal investments. 10. When the income and substitution effects work in opposite directions, A. it's possible that the law of demand is violated. B. the substitution effect is always positive. C. the income effect is always positive. D. Giffen goods aren't possible. 11. In a labor market where employers are cutting wages to control costs, from whose standpoint will the selection be "adverse"? A. Good workers C. Employers B. Poor workers D. Consumers 12. As a result of the tradeoff between income equality and incentives to work, an optimal redistribution policy A. will rarely fall short of a full egalitarian society. B. is consistent only with transfers to the middle class. C. always falls short of a full egalitarian society. D. can never be funded through taxes on wage income. 13. The amount of a commodity that an individual is consuming A. is affected only by prices. B. affects the rate at which he or she is willing to trade. C. is affected only by income. D. won't affect the marginal rate of substitution. 14. Technology is an important factor in explaining the high incomes of superstars because A. technology is available that can limit access to the superstars. B. only technologically literate superstars can earn super incomes. C. technology accounts for differences in incomes within all occupations. D. technology makes it possible for the best producer to supply every customer at low cost. 15. The notion of utility is fundamental to utilitarianism and describes the A. method whereby wealth is stored as flat currency. B. method by which society chooses to allocate resources. C. optimal distribution of wealth in society. D. level of satisfaction derived from a person's circumstances. 16. An optimizing consumer will select a consumption bundle in which utility is maximized A. as long as prices are minimized. B. when income is maximized. C. if indifference curves are linear. D. subject to constraints imposed by the budget. 17. Taxi drivers in large cities are likely to earn more than taxi drivers in rural areas earn. One reason for this wage differential could be that A. driving in a large city is more fun than driving in a rural area. B. driving in a large city is easier than driving in a rural area. C. a taxi driver in a large city is unlikely to hit or be hit by an animal. D. driving a taxi in a large city is more dangerous than driving in a rural area. 18. Which of the following statements about minimum-wage laws is correct? A. Minimum-wage laws force a market imbalance between the supply and demand for labor. B. Minimum-wage laws increase the efficiency of labor markets. C. Minimum-wage laws are typically associated with a rise in employment among the poor. D. Minimum-wage laws are most effective at alleviating poverty when labor demand is highly elastic. 19. The slope of the budget constraint reveals information about the A. level of income of the consumer. B. relative price of commodities represented on the axes. C. preferences of a consumer. D. endowment of productive resources. 20. If John says, "I didn't want to waste my life deciding where to study, since XXXXX XXXXX College seemed good enough," John is A. overconfident. C. a satisficer. B. concerned about fairness. D. inconsistent over time
4. GOVERNMENT LAWS THAT RESTRICT COOPERATIVE AGREEMENT ARE CALLED
B. ANTITRUST LAWS C. TORT LAWS
D. CORPORATE LAWS
5. THE BUSINESS-STELING EXTERNALITY ASSOCIATED WITH MONOPOLISTIC COMPETITION ARISES BECUASE IN MONOPOLISTICALLY COMPETITIVE MARKETS, FIRMS
A. ALWAYS CHARGE A PRICE HIGHER THAN MARGINAL COST.
C. ARE FEW BARRIERS TO ENTRY
D. PRODUCE AT LESS THAN EFFICIENT SCALE
6. WHICH OF THE FOLLOWING STATEMENTS IS CORRECT?
A. IF WAGES FALL, PROFIT MAXIMIZING FIRMS IN COMPETITIVE MARKETS WILL INCREASE EMPLOYMENT, AND THE MARGINAL PRODUCT OF LABOR WILL FALL.
B. IF WAGES FALL, PROFIT MAXIMIZING FIRMS IN COMPETITIE MARKETS WILL INCREASE EMPLOYMENT, AND THE MARGINAL PRODUCT OF LABOR WILL RISE
C. IF WAGES FALL, PROFIT MAXIMIZING FIRMS IN COMPETITIVE MARKETS WILL DECREASE EMPLOYMENT, AND MARGINAL PRODUCT OF LABOR WILL RISE.
7. THE MARKET FOR WINE IS LIKELY TO BE CHARACTERIZED BY WHICH FORM OF MARKET STRUCTURE?
A. MONOPLY C. PERFECT COMPETITION
D. MONOPOLISTIC COMPETITION
9. A KEY DETERMINANT OF RECENT LABOR PRODUCTIVITY HAS BEEN
A. FAMILY SIZE C. INFORMATIONTECHNOLOGY
D. AN INCREASE IN PRODUCT DEMAND.
10. THE DEADWEIGHT LOSS THAT'S ASSOCIATED WITH MONOPOLISTICALLY COMPETITIVE MARKETS IS A RESULT OF
A. OPERATING IN A CONSTANT COST INDUSTRY
B. ADVERTISING COSTS
D. PRICING ABOVE MARGINAL COST
11. THE PRACTICE OF SELLING A PRODUCT TO RETAILERS AND REQUIRING THE RETAILERS TO CHARGE A SPECIFIC PRICE FOR THE PRODUCT IS CALLED
A. FIXED RETAIL PRICING
B. UNFAIR TRADE
C. RESALE PRICE MAINTENANCE
14. WHICH OF THE FOLLOWING STATEMENTS IS CORRECT.
A. OVER TIMEGOVERNMENT HAS BEEN LESS LENIENT TOWARD ADVERTISING IN ORDER TO ENHANCE THE ABILITY OF MARKETS TO ALLOCATE RESOURCES EFFICIENTLY
B. OVER TIME, GOVERNMENT HAS BEEN MORE LENIENT TOWARD ADVERTISING IN ORDER TO ENHANCE COMPEITION IN MARKETS
C. OVER TIME, GOVERNMENT HAS BEEN MORE LENIENT TOWARD ADVERTISING IN ORDER TO ENHANCE BRAND LOYALTY.
THANK YOU SO MUCH FOR YOUR HELP!!!
Here are the answers to the first set for comparison with your own.
1. B. right angles.
2. A. No increase
3. B. encourages workers to bear the cost of acquiring education.
4. A. a desire to consume more leisure.
5. B. elevate the well-being of those at the bottom of the income distribution.
6. D. will survive as long as they're willing to have a smaller market share.
7. C. are more bowed.
8. A. fall in domestic demand for unskilled labor.
9. B. the increase in income of California orange growers due to an orange-killing frost in Florida.
10. A. it's possible that the law of demand is violated.
11. A. Good workers
12. C. always falls short of a full egalitarian society.
13. B. affects the rate at which he or she is willing to trade.
14. D. technology makes it possible for the best producer to supply every customer at low cost.
15. D. level of satisfaction derived from a person's circumstances.
16. D. subject to constraints imposed by the budget.
17. D. driving a taxi in a large city is more dangerous than driving in a rural area.
18. A. Minimum-wage laws force a market imbalance between the supply and demand for labor.
19. A. level of income of the consumer.
20. C. a satisficer.
Here are the answers to the second set (some of the multiple choices were missing, but I was able to find them in the .pdf file).
4. A. cartel laws.
5. B. produce differentiated products.
6. D. If wages fall, profit-maximizing firms in competitive markets will decrease employment, and the marginal product of labor will rise.
7. B. Oligopoly
9. B. equilibrium wages.
10. C. pricing below marginal cost in order to increase market share.
11. D. cost-plus pricing.
14. D. Over time, government has been less lenient toward advertising in order to decrease elasticity of demand for specific products.
I did use an old answer set that I had on file. I was pretty sure I had answered these from the .pdf file study guide info., but I may have researched some of the questions and got wrong answers that were formerly given. Are you saying the second set of answers are all incorrect ? What about exam #05067000? Have you submitted that one? Do you need me to recheck those answers also?
Correct the last set of answers i received from that lady and they are all wrong. The first i have not submitted them becuase i don't want to get a bad grade again. But i did get them from the same lady and if you notice the student that she gave them to also failed. So just let me know what you fine out. The reason their are only 3 answers to the last set is becuase the other's were the wrong answers.
Here are the corrected answers for the 2nd set of questions (exam #05066900):
4. B. antitrust laws
5. C. are few barriers to entry
6. A. If wages fall, profit-maximizing firms in competitive markets will increase employment, and the marginal product of labor will fall.
7. D. Monopolistic competition
9. C. Information technology
10. D. Pricing above marginal costs
11. C. Resale price maintenance
14. B. Over time, government has been more lenient toward advertising in order to enhance competition in markets.
I'm checking the answers to #05067000 and will see if there are corrections to be made in that exam.