ECO550 Week 5 Mid Term Part 2 Latest 2017 August

Question 1

4 out of 4 points

The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as:

Question 2

4 out of 4 points

For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use?

Question 3

4 out of 4 points

The type of economic indicator that can best be used for business forecasting is the:

Question 4

4 out of 4 points

Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?

Question 5

4 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.

Question 6

4 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:

Question 7

4 out of 4 points

If Ben Bernanke, Chair of the Federal Reserve Board, begins to tighten monetary policy by raising US interest rates next year, what is the likely impact on the value of the dollar?

Question 8

4 out of 4 points

Using demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES would

Question 9

4 out of 4 points

An increase in the exchange rate of the U.S. dollar relative to a trading partner can result from

Question 10

4 out of 4 points

The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time

Question 11

4 out of 4 points

If the British pound (?) appreciates by 10% against the dollar:

Question 12

4 out of 4 points

European Union labor costs exceed U.S. and British labor costs primarily because

Question 13

4 out of 4 points

An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?

Question 14

4 out of 4 points

If the marginal product of labor is 100 and the price of labor is 10, while the marginal product of capital is 200 and the price of capital is $30, then what should the firm?

Question 15

4 out of 4 points

Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____.

Question 16

4 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:

Question 17

0 out of 4 points

The isoquants for inputs that are perfect complements for one another consist of a series of:

Question 18

4 out of 4 points

In a production process, an excessive amount of the variable input relative to the fixed input is being used to produce the desired output. This statement is true for:

Question 19

4 out of 4 points

The marginal rate of technical substitution may be defined as all of the following except:

Question 20

4 out of 4 points

The cost function is:

Question 21

4 out of 4 points

Economies of Scope refers to situations where per unit costs are:

Question 22

4 out of 4 points

Economies of scale exist whenever long-run average costs:

Question 23

4 out of 4 points

What method of inventory valuation should be used for economic decision-making problems?

Question 24

4 out of 4 points

According to the theory of cost, specialization in the use of variable resources in the short-run results initially in:

Question 25

4 out of 4 points

The existence of diseconomies of scale (size) for the firm is hypothesized to result from: