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******* **** **** **
Question **
Income tax ******** *** ** example of *****
*******
******** ******
explicit costs
****** ****** ** ***********
*********** *******
******** **
The ******* ********* ** * ********** **** is ** ___________
Answer
maximize agency ******
******** ******* *****
maximize ***** ********
*** output ***** total ******* ****** ***** *****
******** *********** ******
******** **
** ****** ****** ******** ********* ************ ****** be ******** ****
*******
****** ********** ** that managers act **** ****** ** *** *****
***** ****** the ********** *** shares ** *** ********
be ** ********** ******** of *** firm’s *********
** ** ********** ******** ** *** ***** revenue ******** by *** *****
Question 4
Possible ***** ** Not-For-Profit ***** *********** ******* *** ** *** ********* ********
*******
******** ***** ******
******** ****** ******* to * breakeven ***********
maximize *** ********* of *** ************** ** the *** ***********
maximize *** ******* ** the contributors
******** **
Economic profit ** ******* ** *** ********** ******* ******* *** ____
Answer
******** *****
total economic *****
******** *****
*********** *******
******** 6
The ***** hazard in team ********** ****** *****
*******
****** ******** **** membership
lack of ****** ********** ** ********** ******
*************** ** groups
* ******** ******* ********** **** ******** *** *********** *****
insufficient ***********
******** **
*** ******* difference(s) between *** standard ********* and *** *********** ** variation ** ******** ** **** *****
*******
*** *********** ** variation ** easier ** compute
the ******** ********* is * ******* ** relative **** ******* *** *********** ** ********* ** * ******* ** ******** *****
*** coefficient ** ********* ** * ******* ** ******** **** whereas the standard deviation ** * ******* ** ******** *****
*** ******** deviation ** ****** **** ** ******** whereas the *********** ** ********* ** ****** *****
******** **
*** *********** *********** ** * ***** occurring that ** ******* than *** standard ********* **** *** mean is approximately (assuming * normal **************
*******
******
*****
****
******
******** **
The **** ** *** ***** ** **** to *** *****
*******
******** ********** *********** ******** ******
*********** of ********** ******** value; standard deviation
correlation coefficient; standard ********** ******** ******
*********** ** ********** ******** ********** ******** value
******** ***
A change in the level of ** ******** ******** ** ********* and should ** ********** ** long as *** ******** ******** ****** the *****
Answer
******** ********
total costs
******** costs
average costs
******* *********
******** ***
Based ** *********** tradeoffs observable in *** ********* *********** ***** ** *** following ********** would *** ****** ** ***** higher expected ******* than ********* *******
*******
** ********** bonds
********* ******
****** ******
********** ******
******** 12
** ******* ******* ** * ********* ******** ***
*******
General ****** ***** AT&T
commercial ****** US
Government ******** ****** ***
********* ********* ****** **
IOU **** **** ****** ******** to pay *** $100 ** * ******* ********
*** ********
******* **** ** ____ **** ***** ******* is ********** *******
greater
**** **** *****
** **** ****
than zero
*****
** zero
equal
to ***** **** Question
*** *
***** ********** **** ** **** indicates that *** * **** ******** ** ***** ******** demanded **** **** ** ***** *******
***
******** ********* *** ****** ***
***** ********* *** ****** ***
percent; decrease; *** percent
***
***** ********* *** ******** ten
percent; ********* fifteen percent
********
*** **
****** were ********* then ** should ************* Answer
***
*** ****** keep
*** ***** ***** ** *** **
** the Nobel ***** ********* ** **** ** **** *** ***** ** find ** ****** ******* demand ****** stop
******* ** ***** it ** ********** *****
*** price
Question
*** *****
***** ****** * ********** ****** ********** **** is ******** are ******** *******
producers’
****** *******
****** ********
goods
nondurable
goods
Question
*** An
****** ********** **** of ** ********* **** *** * ____ increase ** ****** **** **** increase ** ***** *******
one
******** quantity ********* *** ****** ***
***** quantity ********* *** ****** ***
******** ******** ********* *** percent
one
***** ******** ********* *** ****** ***
******** quantity ********* *** ******** ********
18
***
********* which ******** a ******** ***** *** ****** ***** include(s):
*******
increase
** ***** ** advertising
********
in ***** of complementary goods
increase
** consumer ********** income
********
in price of *** **** ********* uestion
*** *****
** the ********* ***** tend ** **** ****** INELASTIC?
Answer
the
****** of **** ******** is ***** ***** *****
*** lots of *********** available
***
product is ****** durable
***
********** of the budget ***** ** *** **** is **** ****** **
*** ****** ***** *** ******* ** **** ********
*** ***
******** deviation of the ***** terms in an ********* regression ******** ** ***** as:
*******
coefficient
** determination
***********
coefficient
*************
statistic
********
***** ** the ********* uestion
*** **
***** ** the ********* *********** ******** ** ** **** ************* statistic ***** *** **** **** **** *******
***
************** ******** ****************
******************
*******************
******
********* ********
22
When
using * ************** power function ** = a **** X2b2 ***** ** represent ** ******** relationship ********* ** the ********** (a *** *** b’s) ***** ****** ********** analysis *** ** ******** by ***** ******** a **** transformation to ******* *** ******** ** a linear ************* *******
****************
double-logarithmic
***********
polynomial
cubic
********
*** The
****** ***** *** **** **** *********** ** ********** ****** of * product that ************ *** come ** market **** *******
***
consumer ******* market
experimentation
*
*********** ****** ********* ********
the ***** ***
********** method
********
*** ******
functions in *** ************** form are **** ****** *** *** ** the ********* reasons ******** Answer
************
are ******** over * range ** ***** ease
** ********** ** ************* exponents
** parameters *** the ************ ** ***** variables
marginal
****** ** * **** ****** ** an ********** variable ** ********* ********
*** ***
Identification ******* ** *** development ** a demand ******** ** * result **** Answer
***
variance ** *** demand *********** ***
*********** ** ******** ******** ** any ***** ****** ***
negative ***** ** the ****** ********* the
simultaneous ************ ******* *** demand *** ****** ********** ****
2
********
1
***
*** ** ********* data ** ******* *** *********** model *** * +bYt?1 is an ******* of which forecasting *********** *******
**********
************ ***********
forecasting
******
and ******** ***********
******* ***** ** ** understanding ** the ********** economic ********* involved
Input-output
********* Question
** Time-series
*********** ******** Answer
***
****** ******** ******* ***** ******* and wildly
are
**** ********* ** making long-run ********* **** ********* ********** are
***** ****** ** historical observations ** *** ****** of the variable ***** *********** *******
** explain *** underlying causal relationships ***** ******* *** observed ******** ********
3
********
*********** plans ** an ******* of * *********** ****** ***** ** the general ********** **** ********* **** example?
Answer
***********
forecasting *********** **********
*********** ******
techniques *** opinion polling
econometric
*********** input-output
analysis
********
4
*****
** *** following ********** indicators ***** ** *** most ******* for *********** ****** ***** *** ** ********** *******
lagging
******** *********** *******
economic indicators
**********
******** indicators
wishful
********* ********
** *********
********** *** * **** ** **** techniques ***** ****** **** ***** ** an ********** pattern ** ** found ** *** ********** ****** ** * ******** that ** ***** forecast
*******
*******
******** **********
************ ***********
************ ***********
************ ********
6
The
variation ** an ******** *********** ***** is ****** by major ********** ** ************ usually ** greater **** * **** in duration ** ***** **** *******
*******
****** ********
********** ********
effect
*************
****** ******* ********
** **
** **** ******* with few ******* ************ and *********** ************* ***** * rise ** interest ***** *** * decline ** *** ******** price ***** of ********* ***** *******
*****
*** value ** the ********* *****
*** ******* ******** ***** ********
the ****** ** trading ** *** foreign ******** ******* *****
*** trade-weighted ******** rate
increase
******** ********** ********
** **
a recession the ***** ******* ***** ******** because
*******
*******
exports ****** ************ **** ******** banks
sell depressed ******* fewer
********** *** ****** ****** ******** ******
investment ****** declines
***
******* ******* ******* the current ******** ********
** An
appreciation ** the ** dollar *** **** impact ** *************** **** * ** manufacturer ** motorcycles?
*******
********
***** of HD *********** increase *** ******* ***** of ** *********** ********* ********
***** ** HD *********** ******** and ******* ***** ** ** *********** ********* domestic
***** ** ** *********** ******** and foreign ***** ** ** *********** ********* ********
sales ** HD *********** ******** *** foreign sales of ** *********** ********* ********
*** If
*** ******* ***** *** *********** ** 10% ******* *** dollar:
*******
****
*** ** ********* **** ******* *** ** ********* ** ******* **** ** ****** by *** appreciating ****** ***
** ********* **** find it ****** to **** ** ******* ********* ** ******** the
** importer ** ******* ***** **** **** ** **** **** ***** **** of ***** ***** ******* *** ****** ***** ****
** importers ** British ***** *** exporters ** ******* **** be unaffected by ******* ** ******* ******** ****** ********
11
European
***** ***** ***** ****** US *** ******* labor ***** primarily because
*******
worker
************ is ***** in the *** *****
***** *** higher ** the EU layoffs and
***** closings *** **** restrictive ** the ** *** Britain
the ******
** **** time *** ** ****** ** the EU
**************** relations
*** ****** ** the *** ******** ***
********** *****
****** ** *** says *** ratios ******** **** ******* interest
rates
******* the ********* ** ******** rates
****** rates
******* *** ********* of ******** rates
********* *****
******* the ********* ** exchange ****** ******** *******
the ********* ******** rates
****** *******
***** explain *** direction of exchange ****** ******** 13
Trading ********
should ********** ** ********* goods ** accordance **** comparative ********* **** trade *** ********* ** *********** because
******* *************
*****
** production ******** free trade
***** ******* ****** industries
economies **
scale are ******** ************* ****
*********** ******** **** goods
are available for ************ ******** ***
***** *
************ ********** ******** ******** of Q = ************ * ***** ******** **** ******** ***** have:
******* increasing
*******
** ****** ******** returns
to ****** ********** *******
to ****** ******** *******
** scale
******** 15
******** factor
**** ** ******* ** *** ****** **** ** additional unit of the variable ***** adds to ***** ******* marginal
cost
******** *****
marginal ****
** ********* substitution
total *****
******** ***
*** ********
**** ** ********* ************ *** ** defined as *** of *** following ******** ******* the
****
** ***** *** input *** ** substituted for ******* input ** *** ********** process while ***** ****** ******* ********* ***** **
*** ******** slope ** *** ******** ** *** ***** on *** ********* *** rate
at ***** *** ************ ** ****** have equal ***** costs
***** **
*** ratio of *** ******** ******** of * *** ** ******** ***
*** primary
******* ** *** ************ power ******** is to:
Answer
*****
***
** make ********* of *********** ************** ***** ***
** make predictions ***** * ********* increase ** output *** * ***** increase in the ******* aid ***
in ******* ******** ********* ****** *** ******** ********** calculate *
short-run ****** total cost ********* ******** 18
*** ********
******* ** ******* **** ******* ***
ratio
** ***** ****** ** *** ****** ** the ******** ***** **** in ********* *** ******* The ***********
change ** total ****** **** *** ** ******** ** the *** ** *** more unit of *** ******** ***** ** *** ********** process
*** **********
change ** ****** resulting from * given ********** ****** in *** ******* *** ******
** fixed **** ********* Question 19
Which **
*** ********* ** ***** ********** Answer
********
********
******* product
********** elasticity
marginal rate
** ********* substitution
***** **
*** ******* lines
******** ***
____ ***
******* ** ***** ***** *** ******** ********** ** *** alternative ****** chosen in a decision-making problem
Answer
***********
******
******** costs
******** ******
**** ******
******** ***
********* of
***** ****** ** ********** where per **** ***** are:
******* **********
****
two ** **** products are ********* ******* when
*** ** **** ******** *** ********* ********* when
*** or **** ******** *** ********* Demonstrating ********
returns ** scale
************* **********
******* to scale
******** 22
*** a
********* cost ******** ***** ** *** following ********** ** ***** *** ****** ******* ***
*******
***** **** ******** is ************* *********** *** marginal
**** ******** intersects the ******* ***** **** ******** where *** ******* ******** cost ******** ** * ******** *** ********
**** ******** intersects the average ******** **** function ***** *** ******* ******** **** ******** is a ******** The marginal
cost ******** ********** the ******* ***** **** ******** ***** the ******* ***** cost function ** * minimum
Question ***
If **
= 321 * *** – 5Q2 then ******* ***** **** at * * ** is:
******* ****
****
****
****
****
********
***
The *********
** ************ of ***** ****** *** the firm ** hypothesized ** ****** ****** ******* transportation
******
************* **
*** ***** market
************* **
*** ******* ******** problems **
************ *** control encountered ** *********** ******** 25
*** ****
******** **** ******* *
*****
*** ********** ****** as * ******** ** ***** * ********
or ************ relationship showing *** total **** of ********* ******* ********** of output
******* **
* ****** *** **** ********** ********* **
***** ********* from *********** regression ********
Click here to download attached files:
Strayer ECO 550 Midterm Exam Part 1 & Part 2.docx
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