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Title: ECO 561 Final Exam Latest UOP Course Assignments

1
ECO 561 Final Exam

By http//www.assignmentehelp.com

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

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

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

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

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

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

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

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

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

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

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

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

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

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
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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.

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

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