A normative economic statement is an economic ideology aimed at prescribing economic development. ii. (d) the prices of substitute goods rise 17 The demand curve is downward-sloping because at a higher price for a good … An empirical investigation of the general price level and unemployment rates since 1990. Which of the following statements pertains to macroeconomics? Question 19. (a) normative economics (c) microeconomics (b) positive economics (d) macroeconomics 10. Workers at the Sleepy Eye grain elevator are paid $10 per hour. 3. C) The national productivity rate grew by 2.7 percent last year. A. Updated 4/7/2016 6:53:53 AM. 13. c. a reference group. What branch of economics is concerned with interest rates and the gross domestic product (GDP) of the U.S. economy? A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. c) Prices rising due to an over rapid growth in the money supply. 10th - 12th grade . (a) normative economics (c) microeconomics (b) positive economics (d) macroeconomics. c. Growth is designed to increase market share, which in turn increases company profits. A. D. None of the above is correct. See the answer Which of the following statements pertains to macroeconomics? The Pumpkin Center State Bank increased its interest rate on consumer loans by 1percentage point. Which of the following is true of the decision in Home Office v Dorset Yacht? C) Only a is a positive statement, b, c and d are normative statements. All food and beverage products are normal goods. If the basket of goods that is used to calculate the CPI cost $75.00 in the base year, then that basket of goods cost $115.00 in 2004. This economy's rate of inflation for 2006 is 10.12 percent. Which one of the following statements is incorrect? (a) Agricultural economics is an applied social science. Calculate the Paasche and Laspeyres price and quantity indices. C. B. Which of the following statements is (are) true for Farmer Smith? Which of the following statements is (are) true? a month ago. a. an out-group. Question #94287. which one of the following statement is correct regarding the Keynesian model with the government sector and the foreign sector. d. b. The cost of production in the South African economy accelerated, due to rising prices of electricity; 5. 1. c. The spending variance pertains solely to fixed costs. A) Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. bwatkins. Macroeconomics. A negative relationship ; 3. (c) Regardless of the commodity, the farmer always receives 20 cents of the dollar spent in food. 2. D. (2) an increase in the tax rate will increase the size of the multiplier. B If GDP is less than GDE ( gross domestic expenditure) , then. Price rising due to an excessive growth in aggregate spending. Which of the following statements are correct about the 45-degree line? Question 2 2020-03-11T18:35:49-04:00. Which of the following statements pertains to macroeconomics? p) = (1,2), (x,x) = (1,2), (pi, p) = (1,1), (x,x) = (2,2) i. Which of the following statements is correct? Economics >. Award: 1.00 point Which of the following statements pertains to macroeconomics? IN 2010 Indian's per capita GDP was estimated to be $3,400. A. Demand-pull inflation tends to be accompanied by an increase in the level of production and income. For this economy, the base year must be 2004. A. 1. D. a sustained increase in the general price level. (b) The rational consumer maximizes satisfaction subject to a budget constraint. … D) a and c are positive statements, b and d are normative statements. Standard hours allowed are used in calculating the volume variance. s(x)=x^{2} d(x)=(x-5)^{2} The demand is Q=20-3P the supply is Q=P-4. 3. B. Microeconomics involves the study of how households and firms make choices. Which of the following statements correctly reflects the s Find the equilibrium for the given supply and demand functions below. (3) a change in the tax rate has no impact on the size of the multiplier. The cost to taxpayers under this program is: (a) $2 million (c) $4.8 million ... normative economics (b) positive economics (c) microeconomics (d) macroeconomics C. “too much money chasing too few goods”. The pursuit of growth represents the best way of maximizing the long-run profitability of the company. Which of the following is a macroeconomic statement? (c) population increases. 10th - 12th grade. 1 Answer/Comment. Question. A. E. The prices in the CPI basket exclude value-added tax. The growth rate of the population was about 1.4%. National income grew by 2.7 percent last year.4. National income grew by 2.7 percent last year. Select the three macroeconomic policy goals from the following list. A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. Macroeconomics. Edit. The PPI pertains to the cost of production. Please select an answer No, this is … 59 times. 88% average accuracy. B. Demand-pull inflation may be illustrated by a rightward shift of the AD curve. Which of the following cases is the odd one out? A) Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. D) peculiar to command economies. d. The total overhead variance pertains to both variable and fixed costs. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. A Which of the following is not a macroeconomic objective? It is always worth thinking about LINKS between the main parts of macroeconomics, as a change in one may well affect another. Your answer has been saved. Which of the following would not influence the rate of inflation? Yes, well done. That's correct. Inflation is an increase in the general level of prices. 2. 4. Which one of the following statements about inflation is true? \C. Because the minimum wa Mrs. Olsen decided to ent B. (a) The base year for prices is 2008. Answer: A 4. D.The productivity of steelworkers increased by 1 percent in 2012. Macroeconomics. Which of the following is associated with macroeconomics? A decline in the price of soybeans caused farmer Wanek to plant more wheat. Chapter 8 Self-test questions. Definition. Macroeconomics studies all of the following EXCEPT why a specific consumer made a specific choice. Log in for more information. A. Which of the following statements about overhead variances is false? 0. Which of the following statements pertains to macroeconomics? Q. Stanley deposits $1,000 into a savings account that pays 1% interest per year. c. The productivity of American workers as a whole increased by more than 2 percent per year in the last decade. Macroeconomics can best be described as the: A decline in the price of soybeans caused farmer Wanek to plant m C. National income grew by 2.7 percent last year. A.The gross profits of all Canadian businesses were $70 billion last year.B.The price of beef declined by 3 percent last year. b) Price rising due to an increase in the price of a firm's inputs. 30 seconds. If the account has simple interest, the 1% interest for year two would be based off ____________. (pl. National income grew by 2.7 percent last year. Which of the following statements pertains to macroeconomics? The CPI pertains to the cost of living. The quantity demanded of a product rises whenever (a) the product’s price falls. The estimated growth in real GDP was 8.3%. Normative Statement. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. What branch of economics is concerned with interest rates and the gross domestic product (GDP) of the U.S. economy? Chapter 01 - Limits, Alternatives, and Choices 72. (b) incomes increase. (1) government expenditure is autonomous. Answers >. Answer: B Diff: 2 Page Ref: 15/15 Topic: Normative and Positive Analysis Learning Outcome: Micro 1: Identify the basic principles of economics and explain how to think like an economist 90. The relevance of the two economic categories is found in how they makeup the whole of any economy. This problem has been solved! (1) a decrease in net exports will decrease the equilibrium level of income. Indicate whether each of the following statements pertains to microeconomics or macroeconomics: a. Save. a. day to day life in a sorority house. D. The Pumpkin Center State Bank increased its interest rate on cons percentage point. 34. A) major topics of macroeconomics. Inflation refers to: A. a sudden and self-contained increase in prices. b. an instrumental group. Two of the major macroeconomic measures that tell us how 'healthy' the economy is are "the unemployment rate" and "the rate of inflation". How do these matter to individuals who are part of this ec... a month ago. B) A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. Term. A . C.General Motors' profits increased in 2012. 1.Price stability 2.Budget surplus 3.Economic growth 4.Equitable distribution of income. Question 39. C. Microeconomics does not involve the analysis of economic policy. Question #94286. which one of the following statement is correct. b. A normative macroeconomic statement or economic statement is one where there is value judgment. This means that the growth rate of real GDP per capita was about 6.9%. d. an in-group. Business Economics Q&A Library a) The following information pertains to a consumption bundles (x₁, x2) and prices (P₁, P2) faced by a consumer in two time (b, t) periods. (b) positive economics (d) macroeconomics 9. (d) None of the above (that is, all statements are true). B. At the end of the first year, he's earned $10 in interest and there is $1,010 in the account. Standard hours allowed are used in calculating the spending variance. (2) exports and imports are a function of the interest rate. Question #105247. Capital. 10 Macroeconomics deals with: a. The behavior of firms. b. Economic aggregates. c. The activities of individual units. d. The behavior of the electronics industry. 11 Microeconomics is not concerned with the behavior of: a. Aggregate demand. b. Consumers. c. Industries. d. Firms. 12 The study of inflation is part of: a. A. Macroeconomics does not involve the analysis of economic policy. Considering oneself as part of “people like us” is an example of being part of _____. Choose one answer. Edit. Which of the following statements pertains to macroeconomics? Which of the following pertains to macroeconomics U.S. GDP grew by 2.4% Which of the following is not a factor of production Money Economics may be best defined as the social science concerned w/ overcoming scarcity A positive statement is concerned w/ factual evidence and truths Normative statements are concerned w/ debatable societal opinions According to the Department of Labour’s new rates, domestic workers working in Area A (bigger metr; 4. E. an increase in the purchasing power of money. D. D. The PPI basket includes intermediate goods. Which of the following statements pertains to macroeconomics? 0. SURVEY. AP Macroeconomics - Unit 2 Quiz DRAFT. Macroeconomics studies all of the following EXCEPT why a specific consumer made a specific choice. Log in for more information. Search for an answer or ask Weegy. Macroeconomics studies all of the following EXCEPT which one? Report an issue. AP Macroeconomics - Unit 2 Quiz DRAFT. C. National income grew by 2.7 percent last year. false? Aggregate demand curves slope downwards for each of the following reasons except: A.foreign price effect B.the wealth effect C.the interest rate effect D.the substitution effect. Which of the following is not a type of intervening act? Question 34 pertains to the following diagram. Macroeconomics studies economics at large and helps in understanding the operations of the economy. C. The CPI basket includes services. f. … Which of the following statements is . Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. B. a small increase in prices. D. All economic situations can be categorized as being microeconomics or macroeconomics. The unemployment rate in the United States was 8.9 percent in 2011. b. d) Prices falling over a period of time. by bwatkins. Growth results in large company size, and large size satisfies managers' needs for power, status, income, and job security. Microeconomics is useful in making decisions at the individual level. C) The national productivity rate grew by 2.7 percent last year. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. Asked 11/20/2013 8:34:02 PM. Played 59 times. a. Which of the following statements describes the thin skull rule? Which of the following statements is (are) true? B. B) A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. 1.

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