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##### strayer university eco550 midterm part 1 and part 2

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Question;?;n 1;4 out of 4 points;Income tax payments are an example of ____.;Answer;?;Question 2;4 out of 4 points;The primary objective of a for-profit firm is to;Answer;?;Question 3;4 out of 4 points;To reduce Agency Problems, executive compensation;should be designed to;Answer;?;Question 4;4 out of 4 points;Possible goals of Not-For-Profit (NFP) enterprises;include all of the following EXCEPT;Answer;?;Question 5;4 out of 4 points;Economic profit is defined as the difference;between revenue and ____.;Answer;?;Question 6;0 out of 4 points;The moral hazard in team production arises from;Answer;?;Question 7;4 out of 4 points;The primary difference(s) between the standard;deviation and the coefficient of variation as measures of risk are;Answer;?;Question 8;4 out of 4 points;The approximate probability of a value occurring;that is greater than one standard deviation from the mean is approximately;(assuming a normal distribution);Answer;?;Question 9;4 out of 4 points;The ____ is the ratio of ____ to the ____.;Answer;?;Question 10;4 out of 4 points;A change in the level of an economic activity is;desirable and should be undertaken as long as the marginal benefits exceed;the ____.;Answer;?;Question 11;4 out of 4 points;Based on risk-return tradeoffs observable in the;financial marketplace, which of the following securities would you expect to;offer higher expected returns than corporate bonds?;Answer;?;Question 12;4 out of 4 points;An closest example of a risk-free security is;Answer;?;Question 13;4 out of 4 points;Marginal revenue (MR) is ____ when total revenue;is maximized.;Answer;?;Question 14;4 out of 4 points;A price elasticity (ED) of?1.50 indicates that for a ____ increase in price, quantity;demanded will ____ by ____.;Answer;?;Question 15;4 out of 4 points;If demand were inelastic, then we should;immediately;Answer;?;Question 16;4 out of 4 points;Those goods having a calculated income elasticity;that is negative are called;Answer;?;Question 17;4 out of 4 points;An income elasticity (Ey) of 2.0 indicates that;for a ____ increase in income, ____ will increase by ____.;Answer;?;Question 18;0 out of 4 points;The factor(s) which cause(s) a movement along the;demand curve include(s);Answer;?;Question 19;4 out of 4 points;Which of the following would tend to make demand;INELASTIC?;Answer;?;Question 20;4 out of 4 points;The standard deviation of the error terms in an;estimated regression equation is known as;Answer;?;Question 21;4 out of 4 points;In which of the following econometric problems do;we find Durbin-Watson statistic being far away from 2.0?;Answer;?;Question 22;4 out of 4 points;When using a multiplicative power function (Y = a;X1b1 X2b2 X3b3) to represent an economic relationship, estimates of the;parameters (a, and the b's) using linear regression analysis can be obtained;by first applying a ____ transformation to convert the function to a linear;relationship.;Answer;?;Question 23;4 out of 4 points;The method which can give some information in;estimating demand of a product that hasn?t yet come to market is;Answer;?;Question 24;0 out of 4 points;Demand functions in the multiplicative form are;most common for all of the following reasons except;Answer;?;Question 25;4 out of 4 points;The Identification Problem in the development of;a demand function is a result of;Answer?;n 10 out of 4 points;The use of quarterly data to develop the;forecasting model Yt= a +bYt?1 is;an example of which forecasting technique?;Answer;?;Question 24 out of 4 points;Time-series forecasting models;Answer;?;Question 34 out of 4 points;Consumer expenditure plans is an example of a;forecasting method. Which of the general categories best described this;example?;Answer;?;Question 44 out of 4 points;Which of the following barometric indicators;would be the most helpful for forecasting future sales for an industry?;Answer;?;Question 50 out of 4 points;Smoothing techniques are a form of ____ techniques;which assume that there is an underlying pattern to be found in the;historical values of a variable that is being forecast.;Answer;?;Question 64 out of 4 points;The variation in an economic time-series which is;caused by major expansions or contractions usually of greater than a year in;duration is known as;Answer;?;Question 74 out of 4 points;In an open economy with few capital restrictions;and substantial import-export trade, a rise in interest rates and a decline;in the producer price index of inflation will;Answer;?;Question 84 out of 4 points;In a recession, the trade balance often improves;because;Answer;?;Question 94 out of 4 points;An appreciation of the U.S. dollar has what;impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?;Answer;?;Question 104 out of 4 points;If the British pound (?) appreciates by 10%;against the dollar;Answer;?;Question 110 out of 4 points;European Union labor costs exceed U.S. and;British labor costs primarily because;Answer;?;Question 124 out of 4 points;Purchasing power parity or PPP says the ratios;composed of;Answer;?;Question 130 out of 4 points;Trading partners should specialize in producing;goods in accordance with comparative advantage, then trade and diversify in;consumption because;Answer;?;Question 144 out of 4 points;Given a Cobb-Douglas production function estimate;of Q = 1.19L.72K.18 for a given industry, this industry would have;Answer;?;Question 154 out of 4 points;Marginal factor cost is defined as the amount;that an additional unit of the variable input adds to ____.;Answer;?;Question 164 out of 4 points;The marginal rate of technical substitution may;be defined as all of the following except;Answer;?;Question 174 out of 4 points;The primary purpose of the Cobb-Douglas power;function is to;Answer;?;Question 184 out of 4 points;The marginal product is defined as;Answer;?;Question 190 out of 4 points;Which of the following is never negative?;Answer;?;Question 204 out of 4 points;are defined as costs which are incurred;regardless of the alternative action chosen in a decision-making problem.;Answer;?;Question 214 out of 4 points;Economies of Scope refers to situations where per;unit costs are;Answer;?;Question 224 out of 4 points;For a short-run cost function which of the;following statements is (are) not true?;Answer;?;Question 230 out of 4 points;If TC = 321 + 55Q - 5Q2, then average total cost;at Q = 10 is;Answer;?;Question 240 out of 4 points;The existence of diseconomies of scale (size) for;the firm is hypothesized to result from;Answer;?;Question 254 out of 4 points;The cost function is;Answer;="msonormal">

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