ECO 550 Week 2 Quiz 1
Click this link to get the tutorial: http://homeworkfox.com/tutorials/economics/4259/eco-550-week-2-quiz-1/
Question 1
1. When multiple facts about a sample set are known, a(n) _____ heuristic makes the choice on the basis of the first category of facts in which the samples differ. elimination representative recognition availability
Question 2
1. Which of the following products can be sold through mass advertising?
A new electrocardiogram machine to be used by medical examiners
A mainframe computer installation
A new health insurance policy
A new brand of baby diapers
Question 3
1. A model of choice in economics starts by assuming that: people try to minimize their losses. people try to maximize
…show more content…
If each gains $25 from this transaction, which of the following conclusions can be drawn?
Transaction costs are zero.
Luis has higher bargaining power than Ed.
Ed has higher bargaining power than Luis.
Transaction costs are positive.
Question 18
2. In the example of Ireland described in the text, the country’s production set shifted outward over time because: of technological advancements which improved its potato cultivation and overall agricultural production. it gained new resources over time which enabled it to specialize and gain comparative advantage in software trade with the U.S. and Europe. of new resources which allowed it to gain absolute advantage over many of its trading partners. of reduction in trade barriers with the European Union.
Question 19
2. When the slope of a country’s production set declines, it implies:Answer the production set has shrunk. the marginal cost of producing the good measured on the Y-axis has fallen. the marginal cost of producing the good measured on the Y-axis has increased. the marginal cost of producing the good measured on the X-axis has fallen.
Question 20
2. _____ determine the efficient pattern of specialization in production.Answer
Total costs
Opportunity costs
Marginal costs
Sunk costs
Question 21
2. Megan, an analyst in Ronald’s team called in sick on a day when 4
of miles off their travel distance around Africa, bringing a great wealth of trade from Asia that
own growth but from its participation as a member of the Empire of nations of the
Due to trading opportunities and resources from the New World, people were able to take advantage of this and make great amounts of money. For instance, when the Spanish arrived in the
IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download
| The branch of psychology that is focused on understanding the internal physical events and processes that correspond with our experiences and behavior is called:1. biological psychology.2. cognitive physiology.3. forensic psychology.4. clinical psychology.
In part boosted by the spirit of geographical exploration which dominated Europe and provided many
After gaining control of more land, that helped shape the development of the country politically, economically, and
Study Questions: Answer the following questions (based on the reading), save it and then submit it to the professor.
Is aggression an innate and deterministic quality from birth, or is it something that one that all can control, as a matter of free will and choice, to be used when we need it in a calculated manner? At birth all people are born with aggression as a survival trait. As we educate ourselves as we have seen in the video “The Truth About Violence” even in an educated culture such as the United States we still have violence. Violent people and we are drawn to violent sports such as cage fighting and football. Even the most mild manner people who don’t like violence in movies, sports or anywhere else can find enjoyment from participating in violence. When a person results to violence I don’t believe they can control the amount of aggression
Go online and research. Explain the good genes hypothesis. What is ich? Describe its life history.
One other reason it prospered was because of WW1. The reason it prospered was be during the war Europe was in the high demand for good such as
b. The fair value of a liability cannot differ from the amount appearing on the balance
Europeans brought many new technologies to the countries that they imperialized. They built railroads and other types of
In a money hungry culture and society the people of Britain saw a way to