BAMM-6101 - Macroeconomics Theory and Practice oed answer key
Showing 61 to 80 of 132 total answers.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
The _______ is a graphic representation of the market demand schedule and the Law of Demand
Answer
Demand curveCorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
The test of a proposition or theory using actual observations or numbers is called _______.
Answer
Empirical StudyCorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
___________ a legal requirement that maintains the market price above the equilibrium price.
Answer
Price FloorCorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
An increase in income leads to an increase in demand (the demand curve shifts to the right).
Answer
Normal GoodCorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Cost-Push Inflation - caused by an increase in the costs of production of goods and services.
Answer
TRUECorrect
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Structural Unemployment - dynamic labor force in a stable economy with imperfect information.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Analysis of the behavior of individual decision-making units (individuals, households, firms).
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Awesome StudentQuestion • Macroeconomics Theory and Practice
The __________ is a graphic representation of the market supply schedule and the Law of Supply
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Awesome StudentQuestion • Macroeconomics Theory and Practice
___________ is a legal requirement that maintains the market price below the equilibrium price.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Production Costs = opportunity costs of resources required (e.g., cash costs) to change prices.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
___________if a person can produce a good or service with lower opportunity cost than can another
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Awesome StudentQuestion • Macroeconomics Theory and Practice
_________ is the level of output at which the labor market is at its natural rate of unemployment.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
___________ as the price of a good or service increases the quantity you would be willing and able
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Awesome StudentQuestion • Macroeconomics Theory and Practice
___________ relates to the effect that a small or unit change one variable has on another variable.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
A market is in _______ when the quantity demanded is equal to quantity supplied at the market price.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Goods and services those are scarce. There is an opportunity cost involved in their use or consumption.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
A market is in ______________ when the quantity demand is equal to quantity supplied at the market price.
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Awesome StudentQuestion • Macroeconomics Theory and Practice
Civilian Non institutional Population - persons years of age and older who are not inmates of institutions
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Awesome StudentQuestion • Macroeconomics Theory and Practice