ECO 561 Final Exam Latest UOP Tutorials

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ECO 561 Final Exam Question Answers

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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 Find the final exam
answers here ECO 561 Final Exam Answers   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 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 Complete Answers here ECO
561 Week 1 Quiz or Knowledge Check (Latest)   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 Download now ECO 561 Final
Exam Questions Answers
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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 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 Find the quiz answers here ECO
561 Week 2 Quiz or Knowledge Check (Latest)   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 for
answers ECO 561 Week 3 Complete   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 Final Exam Answers
just a click away ECO 561 Final Exam  
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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 Quiz Answers just
a click away ECO 561 Week 4 Quiz or Knowledge
Check (Latest)   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 To download the complete
answer check ECO 561 Week 4 Complete  
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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 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 To download
the complete paper click ECO 561 Week 5 Quiz or
Knowledge Check (Latest)   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
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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 Click here to
download Complete Answers of ECO 561 Week 5
Complete   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 Want to see the complete
Individual Assignment Check..?? Click ECO 561
Final Exam Answers   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
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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 Want to download the
Complete Assignment..?? Click ECO 561 Week 6
Complete 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 Find the final
exam answers here ECO 561 Final Exam
Answers   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
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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
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 Quiz or
Knowledge Check (Latest) 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
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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 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 Final Exam (Latest)   Want to
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