ECO 561 Final Exam Latest University of Phoenix

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ECO 561 Final Exam

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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 Final Exam Answers just a click away
ECO 561 Final Exam Latest
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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 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 To download the
complete answer check ECO 561 Entire Course
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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 Find
the final exam answers here ECO 561 Final Exam
Answers
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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   Click here to download Complete
Answers of ECO 561 Complete Assignments
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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 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 Want to download
the Complete Assignment..?? Click ECO 561 Final
Exam Questions with Answers 11) Price is
constant or given to the individual firm selling
in a purely competitive market because
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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   13) Which of the following is a
nonprice barrier of entry? A. Huge sunk cost B.
Discounts C. Product differentiation D.
Advertising   Complete Answers here ECO 561 Week
1 Complete
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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 quiz answers here ECO 561 Week
1 Quiz or Knowledge Check (Latest)
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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
proportion Download for answers here ECO
561 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
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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 Want more details?
Download now ECO 561 Final Exam Questions
Answers  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
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Complete paper here ECO 561 Week 6 Final
Proposal 22) Suppose the price level is fixed,
the MPC is .5, and the GDP gap is a negative 100
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
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Quiz Answers just a click away ECO 561 Week 6
Quiz or Knowledge Check (Latest) 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
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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 Click here to download Complete
Answers of ECO 561 Final Exam Study Materials
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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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  Want to see the
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ECO 561 Final Exam Questions with Answers
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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
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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 Quiz or
Knowledge Check (Latest) ECO 561 Week 1 Complete
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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 Quiz or Knowledge
Check (Latest) ECO 561 Week 2 Complete ECO 561
Week 3 DQ 1 ECO 561 Week 3 DQ 2 ECO 561 Week 3
Quiz or Knowledge Check (Latest) ECO 561 Week 3
Complete ECO 561 Week 4 Business Proposal ECO 561
Week 4 Quiz or Knowledge Check (Latest) 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
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ECO 561 Week 5 Peer Review ECO 561 Week 5 Quiz or
Knowledge Check (Latest) 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
Quiz or Knowledge Check (Latest) ECO 561 Week 6
Complete ECO 561 Week 6 Final Exam Want to
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