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Title: ECO 561 Final Exam Latest UOP Course Assignments


1
ECO 561 Final Exam
  • By http//www.assignmentehelp.com

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  • 1) Suppose that in the clothing market,
    production costs have fallen, but the equilibrium
    price and quantity purchased have both increased.
    Based on this information you can conclude that
  • A. the supply of clothing has grown faster than
    the demand for clothing
  • B. demand for clothing has grown faster than the
    supply of clothing
  • C. the supply of and demand for clothing have
    grown by the same proportion
  • D. there is no way to determine what has happened
    to supply and demand with this information
  • 2) Camille's Creations and Julia's Jewels both
    sell beads in a competitive market. If at the
    market price of 5, both are running out of beads
    to sell (they can't keep up with the quantity
    demanded at that price), then we would expect
    both Camille's and Julia's to
  • A. raise their price and reduce their quantity
    supplied
  • B. raise their price and increase their quantity
    supplied
  • C. lower their price and reduce their quantity
    supplied
  • D. lower their price and increase their quantity
    supplied

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  • 3) In which of the following industries are
    economies of scale exhausted at relatively low
    levels of output?
  • A. Aircraft production
  • B. Automobile manufacturing
  • C. Concrete mixing
  • D. Newspaper printing
  •  
  • Download for answers ECO 561 Complete Assignment
  • 4) The average cost curves (AVC and ATC) should
    be minimized
  • A. where MC ATC and MC AVC
  • B. where FC ATC and FC AVC
  • C. where TC starts to increase at a faster rate
  • D. where ATC AVC

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  • 5) If the wage rate increases,
  • A. a purely competitive producer will hire less
    labour, but an imperfectly competitive producer
    will not
  • B. an imperfectly competitive producer will hire
    less labour, but a purely competitive producer
    will not
  • C. a purely competitive and an imperfectly
    competitive producer will both hire less labour
  • D. an imperfectly competitive producer may find
    it profitable to hire either more or less labour
  • 6) The real wage will rise if the nominal wage
  • A. falls more rapidly than the general price
    level
  • B. increases at the same rate as labor
    productivity
  • C. increases more rapidly than the general price
    level
  • D. falls at the same rate as the general price
    level
  • Final Exam Answers just a click away ECO 561
    Final Exam

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  • 7) Construction workers frequently sponsor
    political lobbying in support of greater public
    spending on highways and public buildings. One
    reason they do this is to
  • A. restrict the supply of construction workers
  • B. increase the elasticity of demand for
    construction workers
  • C. increase the demand for construction workers
  • D. increase the price of substitute inputs
  • 8) Paying an above-equilibrium wage rate might
    reduce unit labour costs by
  • A. permitting the firm to attract lower-quality
    labour
  • B. increasing the cost to workers of being fired
    for shirking
  • C. increasing voluntary worker turnover
  • D. increasing the supply of labour

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  • 9) A good real-world example of monopolistic
    competition is
  • A. lawyers
  • B. gas stations
  • C. Time Warner Cable
  • D. groceries store
  • Download now ECO 561 Individual Assignment
  • 10) An industry comprising a small number of
    firms, each of which considers the potential
    reactions of its rivals in making price-output
    decisions, is called
  • A. monopolistic competition
  • B. oligopoly
  • C. pure monopoly
  • D. pure competition

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  • 11) Price is constant or given to the individual
    firm selling in a purely competitive market
    because
  • A. the firm's demand curve is downward sloping
  • B. of product differentiation reinforced by
    extensive advertising
  • C. each seller supplies a negligible fraction of
    total supply
  • D. there are no good substitutes for its product
  • 12) The most important pricing strategy for a
    perfectly competitive firm is
  • A. minimizing cost
  • B. maximizing sales
  • C. product differentiation
  • D. advertising

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  • To download the complete paper click ECO 561 Week
    1 Complete
  •  
  • 13) Which of the following is a nonprice barrier
    of entry?
  • A. Huge sunk cost
  • B. Discounts
  • C. Product differentiation
  • D. Advertising
  • 14) A third-degree price discrimination can be
    applied to which of the following market
    structures?
  • A. A monopoly
  • B. An oligopoly
  • C. A monopolistic competition
  • D. A perfect competition

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  • 15) Investing in RD is more likely to occur in
    markets where
  • A. firms have monopoly power protected by
    regulatory barriers
  • B. markets are closely competitive markets with
    close to zero economic profits
  • C. markets are oligopoly markets with strong
    collusion agreements
  • D. markets are monopolistic competitive markets
  • Find the final exam answers here ECO 561 Final
    Exam
  • 16) All economies of scale are achieved at the
    minimum of
  • A. average total cost
  • B. total cost
  • C. average variable cost
  • D. average fixed cost

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  • 17) Inflation is undesirable because it
  • A. arbitrarily redistributes real income and
    wealth
  • B. invariably leads to hyperinflation
  • C. usually is accompanied by declining real GDP
  • D. reduces everyones standard of living in the
    same pro
  • portion
  • 18) An economys aggregate demand curve shifts
    leftward or rightward by more than changes in
    initial spending because of the
  • A. net export effect
  • B. wealth effect
  • C. real-balances effect
  • D. multiplier effect
  • Want help? Click to download ECO 561 Final Exam
    Question with Answer

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  • 19) Suppose productivity rises in a particular
    economy, but wages stay the same. Other things
    equal,
  • A. the demand curve will shift leftward
  • B. the supply curve will shift rightward
  • C. the supply curve will shift leftward
  • D. expenditures curve will shift rightward
  •  
  • 20) If personal taxes were decreased and resource
    productivity increased simultaneously, the
    equilibrium
  • A. output would rise
  • B. output would fall
  • C. price level would necessarily fall
  • D. price level would necessarily rise

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  • 21) Expansionary fiscal policy is so named
    because it
  • A. involves an expansion of the nation's money
    supply
  • B. can only be attained by expanding government
    consumption
  • C. is aimed at achieving greater price stability
  • D. can motivate an expansion of real GDP
  • To download the complete paper click ECO 561 Week
    2 Complete
  •  
  • 22) Suppose the price level is fixed, the MPC is
    .5, and the GDP gap is a negative100 billion. To
    achieve full-employment output (exactly),
    government should
  • A. increase government expenditures by 100
    billion
  • B. increase government expenditures by 50
    billion
  • C. reduce taxes by 50 billion
  • D. reduce taxes by 200 billion

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  • 23) GDP understates the value of output produced
    by an economy because it
  • A. includes transactions that do not take place
    in organized markets, such as home cooked meals
  • B. includes environmental degradation caused by
    increased output production
  • C. excludes value added from the underground
    economy, such as tips taken under the table
  • D. excludes the value of the wages and benefits
    of government employee
  • 24) Other things equal, a decrease in the real
    interest rate will
  • A. shift the investment demand curve to the right
  • B. shift the investment demand curve to the left
  • C. move the economy upward along its existing
    investment demand curve
  • D. move the economy downward along its existing
    investment demand curve

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  • 25) Other things equal, a decrease in corporate
    income taxes will
  • A. decrease the market price of real capital
    goods
  • B. have no effect on the location of the
    investment demand curve
  • C. shift the investment demand curve to the right
  • D. shift the investment demand curve to the left
  • 26) Inflation in U.S. prices will cause
  • A. an increase in the demand for U.S. dollars and
    an appreciation in the exchange rate
  • B. an increase in the supply of U.S. dollars and
    a depreciation in the exchange rate
  • C. a decrease in the demand for U.S. dollars and
    a depreciation in the exchange rate
  • D. a decrease in the supply of U.S. dollars and
    an appreciation in the exchange rate

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  • 27) The quantity theory of money states that
  • A. the money supply divided by the velocity of
    money equals the price level divided by real
    output
  • B. the money supply times the velocity of money
    equals the price level times real output
  • C. the money supply times the price level equals
    real output divided by the velocity of money
  • D. the money supply times the price level equals
    real output times the velocity of money
  • Want to see the complete Individual Assignment
    Check..?? Click ECO 561 Individual Assignment
  • 28) Suppose that U.S. prices rise 4 over the
    next year while prices in Mexicorise 6.
    According to the purchasing power parity theory
    of exchange rates,what should happen to the
    exchange rate between the dollar and the peso?
  • A. The dollar should depreciate.
  • B. The peso should appreciate.
  • C. The peso should depreciate.
  • D. The dollar will be revalued.

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  • 29) A rise in the domestic interest rate leads
    to capital
  • A. outflows and exchange rate appreciation
  • B. outflows and exchange rate depreciation
  • C. inflows and exchange rate depreciation
  • D. inflows and exchange rate appreciation
  • 30) A firm under monopolistic competition will
    earn
  • A. a positive economic profit as it has some
    monopoly power
  • B. zero economic profit as it sets P MC
  • C. zero economic profit as its P ATC
  • D. a positive economic profit as it sets MC MR

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  • About Author
  •  This article covers the topic for the University
    Of Phoenix ECO 561 Final Exam . The author is
    working in the field of education from last 5
    years. This article covers the basic of ECO 561
    Final Exam Assignment from UOP. Other topics in
    the class are as follows
  • ECO 561 Week 1 DQ 1
  • ECO 561 Week 1 DQ 2
  • ECO 561 Week 1 DQ 3
  • ECO 561 Week 1 DQ 4
  • ECO 561 Week 1 Complete
  • ECO 561 Week 2 DQ 1
  • ECO 561 Week 2 DQ 2
  • ECO 561 Week 2 DQ 3
  • ECO 561 Week 2 Market Equilibration Process Paper
  • ECO 561 Week 2 Complete
  • ECO 561 Week 3 DQ 1
  • ECO 561 Week 3 DQ 2

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  • ECO 561 Week 3 Complete
  • ECO 561 Week 4 Business Proposal
  • ECO 561 Week 4 Complete
  • ECO 561 Week 5 DQ 1
  • ECO 561 Week 5 DQ 2
  • ECO 561 Week 5 DQ 3
  • ECO 561 Week 5 DQ 4
  • ECO 561 Week 5 Peer Review
  • ECO 561 Week 5 Complete
  • ECO 561 Week 6 DQ 1
  • ECO 561 Week 6 DQ 2
  • ECO 561 Week 6 Final Proposal
  • ECO 561 Week 6 Complete
  • ECO 561 Week 6 Final Exam

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  • ECO 561 Week 1 Quiz or Knowledge Check (Latest)
  • ECO 561 Week 2 Quiz or Knowledge Check (Latest)
  • ECO 561 Week 3 Quiz or Knowledge Check (Latest)
  • ECO 561 Week 4 Quiz or Knowledge Check (Latest)
  • ECO 561 Week 5 Quiz or Knowledge Check (Latest)
  • ECO 561 Week 6 Quiz or Knowledge Check (Latest)
  •  
  •  
  • Want to check other classes..?? Visit
    www.assignmentehelp.com

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