Any Economy Majors... (help with assignment)

So I did this assignment once. I get two tries to get the best grade that I can, first attempt was a 75%. No ideas which ones I got right and wrong. Any help would be legal and appreciated. Or you can tell me to do my own homework... any response is better than none

You are planning to study eight hours this week for your economics final and are considering studying a ninth hour. You should:

-Compare the benefits of one more hour of study with the cost of one less hour of sleep

-Compare the benefits of one more hour of study with the cost of one less hour of studying calc

-Compare the benefits of one more hour of study with the cost of one les hour of work

-Make your decision based on the next best alternative use of your time compared to the benefit of one more hour of study

Increase in total output realized when individuals specialize in particular tasks and trade are known as:

-The gains from trade

-The profits obtained from sales of a good or service

-the multiplier effect

-an excess supply

Suppose there are a series of large forest fires, which affect the lumber industry while, at the same time, consumers prefer less wooden furniture. The wooden furniture market would experience:

-An increase in price and an increase in quantity

-An increase in quantity and an indeterminate change in price

-A decrease in quantity and an indeterminate change in price

-An increase in price and an indeterminate change in quantity

When technology improves and a nation’s economy grows

-its production possibility frontier shifts outward

-its production possibility frontier shifts inward

-it is necessarily produces at an inefficient point inside its production possibility frontier

-it has moved to a more consumer-oriented position on its production possibility frontier

GDP is the total dollar value of all

-intermediate goods and service produced in the economy in a given period

-final goods and services produced by US citizens

-final goods and services produced in the economy in a given period

-government production in a given period

If the aggregate price level increased by 15% and your nominal wage rose from $10 to $11 then your real wage…

-increased

-decreased

-remained constant

-cannot be determined without more information

Those who are interested in assessing the relative standard of living of different countries over a given period are most likely to look at:

-percentage change in GDP

-population

-GDP

-Per capita GDP

A recession could result from

-An increase in aggregate demand

-a decrease in aggregate demand

-an increase in short-run aggregate supply

-an increase in long-run aggregate supply

To be counted as unemployed by the Bureau of Labor Statistics, one…

-Must be actively looking for a job and working less than 2 hours per week

-must be out of work and actively looking for a job

-must be out of work but not necessarily actively looking for a job

-be actively looking for a job and have at least a high-school diploma or its equivalent

Worsened consumer confidence would:

-Shift the aggregate demand curve leftward

-Shift the aggregate demand curve rightward

-move the economy down along the aggregate demand curve

-move the economy up along the aggregate demand curve

A recession can be defined as:

-When aggregate output rises relative to its long-term trend

-when economic output is less than its potential

-when aggregate prices are falling

-when unemployment is below the natural rate of unemployment

In which of the following cases would the aggregate supply curve shift to the right?

-American consumers suddenly acquire a greater taste for Japanese products, ceteris paribus

-The stock markets totters on the brink of panic as people attempt to sell a record – breaking volume of securities for whatever they will bring

-The value of the dollar plummeted on international currency markets, causing foreigners to buy more American goods.

-Productivity in many US industries increases because of technological advances

An increase in the money supply that leads to a decrease in the interest rates is likely to result in:

-A decrease in consumption spending

-a decrease in investment spending

-an increase in investment spending

-an increase in government spending

Because of diminishing returns, an economy can continue to increase real GDP per hour worked only if:

-There continues to be decreases in capital per hour worked

-there is technological change

-there are decreases in human capital

-the per-worker production function shifts downward

The key factors influencing productivity in the long-run are everything EXCEPT:

-the enforcement of property rights

-fixed prices and interest rates

-political stability

-increases in technology and human capital per worker

An automatic stabilizer that works when the economy contracts is:

-a rise in tax receipts

-a fall in government purchases

-a discretionary decrease in government purchases

-a rise in government transfers as more people receive unemployment insurance benefits

If government spending increases and taxes decrease, then:

-The governments implicit liabilities will increase

-the government will expect a fall in economic output

-the public debt will increase

-the public debt will decrease

The primary tools that the federal reserve system can use to increase the money supply and stimulate the economy are:

-reserve requirements, margin regulations, and open market operations

-open market operations, margin regulations, and moral suasion

-reserve requirements, open market operations, and lending directly to banks

-lending directly to banks, open-market operations, and deposit insurance

If real interest rates rise while nominal interest rates fall, then expected inflation has:

-Risen

-Fallen

-Stayed the same

-decreased and then offset by an equal increase

If the exchange rate changes from 100 yen per dollar to 120 yen per dollar,

-The dollar depreciated

-The dollar has appreciated

-the yen has appreciated

-None of the above

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