Devry ECO 312 All Week Assignments Latest

1. Devry ECO 312 All Week Assignments Latest Just Click on Below Link To Download This Course: https://www.devrycourses.com/product/devry-eco-312-all-week-assignments-latest/ Or Email us help@devrycourses.com Devry ECO 312 All Week Assignments Latest Devry ECO 312 All Weekly Assignment Latest [ all week 1,2,3,5,6 and 7 ] Devry ECO 312 Week 1 Weekly Assignment Latest (TCO 1) The primary focus of the study of economics is on expanding the production of goods and services.. equalizing the distribution of consumer income and wealth.. making the most efficient use of scarce productive resources.. reallocating resources from consumption to production in the economy.. : Question 2.. Question : (TCO 1) The basic economic problem is essentially one of deciding how to make the best use of limited resources to satisfy limited economic wants.. limited resources to satisfy unlimited economic wants.. unlimited resources to satisfy unlimited economic wants.. unlimited resources to satisfy limited economic wants.. Question 3.. Question : (TCO 1) James wants to buy a book.. The economic perspective suggests that James will buy the book if

2. the book will give him utility.. his income is high.. the marginal cost of the book is greater than its marginal benefit.. the marginal benefit of the book is greater than its marginal cost.. Question 4.. Question : (TCO 1) Which is not considered to be an economic resource? Land (or natural resources) Money Labor Tools and machinery Question 5.. Question : (TCO 1) If an economy is producing at a point inside a production possibilities curve, then the economy is efficient.. there is economic growth.. resources are unemployed.. resources are fully employed.. : Question 6.. Question : (TCO 1) Which would not be characteristic of a capitalist economy? Government ownership of the factors of production Competition and unrestricted markets Reliance on the market system Free enterprise and choice

3. : 0 of 1 Comments: Question 7.. Question : (TCO 1) The development of CDs and DVDs that significantly reduced the market for cassette tapes would be an example of specialization.. derived demand.. roundabout production.. creative destruction.. Question 8.. Question : (TCO 1) The circular flow model assumes that central planning is taking place.. illustrates how natural resources are created.. illustrates how money is created by the banking system.. illustrates the interdependence of businesses and consumers.. Question 9.. Question : (TCO 1) By free enterprise, we mean that products are provided free to those who can’t afford to buy them.. individual producers determine how to produce, but government agencies determine what will be produced.. individuals may obtain resources, organize production, and sell the resulting output in any legal way they choose.. individuals are free to produce those products that government agencies determine can be produced profitably..

4. Question 10.. Question : (TCO 1) Which is the main problem with the barter system of exchange? Barter encourages self-interest and selfishness.. fosters specialization and division of labor.. requires a coincidence of wants.. undermines the right to bequeath.. Question 11.. Question : (TCO 1) Tammie makes $150 a day as a bank clerk.. She takes off two days of work without pay to fly to another city to attend the concert of her favorite music group.. The cost of transportation for the trip is $250.. The cost of the concert ticket is $50.. What is the opportunity cost of Tammie’s trip to the concert? Show your calculations Question 12.. Question : (TCO 1) Identify some intrinsic qualities of capitalist and command economic systems.. Identify two countries that practice each.. Devry ECO 312 Week 2 Weekly Assignment Latest <pstyle=”font-family: verdana,=”” arial,=”” sans-serif;=”” font-size:=”” 12px;”=”” style=”box-sizing: border- box; user-select: initial !important;”>TCO 2) Economists use the term “demand” to refer to a particular price-quantity combination on a stable demand curve.. the total amount spent on a particular commodity over a stipulated time period.. an upsloping line on a graph that relates consumer purchases and product price.. a schedule of various combinations of market prices and quantities-demanded.. Question 2.. Question :

5. (TCO 2) In the past few years, the demand for donuts has greatly increased.. This increase in demand might best be explained by an increase in the cost of making donuts.. an increase in the price of coffee.. consumers expecting donut prices to fall.. a change in buyer tastes.. Question 3.. Question : (TCO 2) Which of the following is most likely to be an inferior good? Fur coats Ocean cruises Used clothing Steak Question 4.. Question : (TCO 2) The demand curve for a product might shift as the result of a change in consumer tastes.. consumer incomes.. the prices of related goods.. All of these Question 5.. Question : (TCO 2) The supply curve shows the relationship between price and quantity supplied.. production costs and the amount demanded.. total business revenues and quantity supplied..

6. physical inputs of resources and the resulting units of output.. Question 6.. Question : (TCO 2) If the demand for bacon is relatively elastic, a 10% decline in the price of bacon will decrease the amount demanded by more than 10%.. increase the amount demanded by more than 10%.. decrease the amount demanded by less than 10%.. increase the amount demanded by less than 10%.. Question 7.. Question : (TCO 2) Suppose the price of local cable TV service increased from $16..20 to $19..80, and as a result, the number of cable subscribers decreased from 224,000 to 176,000.. Use the Midpoint formula to find the answer.. Along this portion of the demand curve, price elasticity of demand is 0..8 1..2 1..6 8..0 Question 8.. Question : (TCO 2) The concept of price elasticity of demand measures the slope of the demand curve.. the number of buyers in a market.. the extent to which the demand curve shifts as the result of a price decline.. the sensitivity of consumer purchases to price changes.. Question 9.. Question : (TCO 2) The state legislature has cut Gigantic State University’s appropriations.. GSU’s Board of Regents decides to increase tuition fees to compensate for the loss of revenue.. The board is assuming that the

7. demand for education at GSU is elastic.. demand for education at GSU is inelastic.. coefficient of price elasticity of demand for education at GSU is unity.. coefficient of price elasticity of demand for education at GSU is greater than unity.. Question 10.. Question : (TCO 2) The demand for a necessity whose cost is a small portion of one’s total income is perfectly price inelastic.. perfectly price elastic.. relatively price inelastic.. relatively price elastic.. Question 11.. Question : (TCO 2) What is the Law of Supply? Why does the supply curve slope upwards? Question 12.. Question : (TCO 2) Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a month to 15 widgets..Calculate your price elasticity of demand of widgets.. What can you say about your price elasticity of demand of widgets? Is it Elastic, Inelastic, or Unitary Elastic? Why? Use the Midpoint formula and please show your work.. Devry ECO 312 Week 3 Weekly Assignment Latest (TCO 3) Which of the following is most likely to be an implicit cost for Company X? Forgone rent from the building owned and used by Company X Rental payments on IBM equipment Payments for raw materials purchased from Company Y Transportation costs paid to a nearby trucking firm

8. : 1 of 1 Comments: Question 2.. Question : (TCO 3) The long run is characterized by the relevance of the law of diminishing returns.. at least one fixed input.. insufficient time for firms to enter or leave the industry.. the ability of the firm to change its plant size.. Question 3.. Question : (TCO 3) Economists would describe the U..S.. automobile industry as purely competitive.. an oligopoly.. monopolistically competitive.. a pure monopoly.. Question 4.. Question : (TCO 3) A purely competitive seller is both a “price maker” and a “price taker..” neither a “price maker” nor a “price taker..” a “price taker..” a “price maker..” Question 5.. Question : (TCO 3) Which of the following is a characteristic of pure monopoly? Close substitute products

9. Barriers to entry The absence of market power “Price taking” Question 6.. Question : (TCO 3) A natural monopoly occurs when long-run average costs decline continuously through the range of demand.. a firm owns or controls some resource essential to production.. long-run average costs rise continuously as output is increased.. economies of scale are obtained at relatively low levels of output.. Question 7.. Question : (TCO 3) Under monopolistic competition entry to the industry is completely free of barriers.. more difficult than under pure competition but not nearly as difficult as under pure monopoly.. more difficult than under pure monopoly.. blocked.. Question 8.. Question : (TCO 3) The term oligopoly indicates a one-firm industry.. many producers of a differentiated product.. a few firms producing either a differentiated or a homogeneous product.. an industry whose four-firm concentration ratio is low.. Question 9.. Question :

10. (TCO 3) Use your basic knowledge and your understanding of market structures to answer this question.. Which of the following companies most closely approximates a differentiated oligopolist in a highly concentrated industry? Subway Sandwiches US Steel Ford Motor Company Alcoa Aluminum Question 10.. Question : (TCO 3) If the four-firm concentration ratio for industry X is 80 the four largest firms account for 80% of total sales.. each of the four largest firms accounts for 20% of total sales.. the four largest firms account for 20% of total sales.. the industry is monopolistically competitive.. Question 11.. Question : (TCO 3) In economics, how would you define the SHORT RUN, and what is the LONG RUN? How can you distinguish between the two? Question 12.. Question : (TCO 3) Identify the primary characteristics of perfect competition and monopolistic competition.. Give examples of each.. Devry ECO 312 Week 5 Weekly Assignment Latest (TCO 6) Fiscal policy refers to the manipulation of government spending and taxes to stabilize domestic output, employment, and the price level..

11. manipulation of government spending and taxes to achieve greater equality in the distribution of income.. altering of the interest rate to change aggregate demand.. fact that equal increases in government spending and taxation will be contractionary.. Question 2.. Question : (TCO 6) An economist who favors smaller government would recommend tax cuts during recession and reductions in government spending during inflation.. tax increases during recession and tax cuts during inflation.. tax cuts during recession and tax increases during inflation.. increases in government spending during recession and tax increases during inflation.. Chapter 30.. Points Received: 1 of 1 Comments: Question 3.. Question : (TCO 6) The lag between the time and the need for fiscal action is recognized and the time the action is taken is referred to as the crowding-out lag recognition lag operational lag administrative lag Chapter 30.. Points Received: 1 of 1 Comments: Question 4.. Question :

12. (TCO 5) An economy’s aggregate demand curve shifts leftward or rightward by more than changes in initial spending because of the net export effect.. wealth effect.. real-balances effect.. multiplier effect.. Chapter 29.. Points Received: 1 of 1 Comments: Question 5.. Question : (TCO 6) In an effort to avoid recession, the government implements a tax rebate program, effectively cutting taxes for households..We would expect this to affect neither aggregate supply nor aggregate demand.. increase aggregate demand.. reduce aggregate demand.. reduce aggregate supply.. Chapter 29.. Points Received: 1 of 1 Comments: Question 6.. Question : (TCO 6) The consumption schedule directly relates consumption to the level of disposable income.. saving to the level of disposable income.. disposable income to domestic income..

13. consumption to saving.. Chapter 27.. Points Received: 1 of 1 Comments: Question 7.. Question : (TCO 6) The size of the MPC is assumed to be less than zero.. greater than one.. greater than zero, but less than one.. two or more.. Chapter 27.. Points Received: 1 of 1 Comments: Question 8.. Question : (TCO 5) Refer to the graph.. Which of the following factors will shift AD1 to AD3? Graph Description An increase in expected returns on investment An increase in productivity A decrease in real interest rates A decrease in consumer wealth Chapter 29.. Points Received: 1 of 1 Comments:

14. Question 9.. Question : (TCO 6) The multiplier is 1/MPC.. 1/(1 + MPC).. 1/MPS.. 1/(1 – MPS).. Chapter 27.. Points Received: 1 of 1 Comments: Question 10.. Question : (TCO 5) The Federal budget deficit is found by subtracting government tax revenues plus government borrowing from government spending in a particular year.. subtracting government tax revenues from government spending in a particular year.. cumulating the differences between government spending and tax revenues over all years since the nation’s founding.. subtracting government revenues from the noninvestment-type government spending in a particular year.. Chapter 30.. Points Received: 1 of 1 Comments: Question 11.. Question : (TCO 5) What effect would each of the following have on aggregate demand or aggregate supply? Explain.. Question :

15. (TCO 6) Explain how fiscal policy (making changes to government spending and taxes) would affect aggregate demand (AD).. Devry ECO 312 Week 6 Weekly Assignment Latest (TCO 7) A $70 price tag on a sweater in a department store window is an example of money functioning as a unit of account.. standard of deferred payments.. store of value.. medium of exchange.. Chapter 31 Points Received: Comments: Question 2.. Question : (TCO 7) Currency held in the vault of First National Bank is counted as part of M1.. counted as part of M2, but not M1.. only counted as part of M1 if it was deposited into a checking account.. not counted as part of the money supply.. Chapter 31 Points Received: Comments: Question 3.. Question : (TCO 7) Answer the question on the basis of the following list of assets:

16. 1.1..Large-denominated ($100,000 and more) time deposits 2.2..Noncheckable savings deposits 3.3..Currency (coins and paper money) in circulation 4.4..Small-denominated (less than $100,000) time deposits 5.5..Stock certificates 6.6..Checkable deposits 7.7..Money market deposit accounts 8.8..Money market mutual fund balances held by individuals 9.9..Money market mutual fund balances held by businesses 10.10..Currency held in bank vaults Refer to the above list.. The M1 definition of money comprises item(s) 6 only.. 3, 4, and 6.. 3 and 6.. 3, 6, and 10.. Chapter 31 Points Received: Comments: Question 4.. Question : (TCO 7) Assume the Standard Internet Company negotiates a loan for $5,000 from the Metro National Bank and receives a checkable deposit for that amount in exchange for its promissory note (IOU).. As a result of this transaction the supply of money is increased by $5,000.. the supply of money declines by the amount of the loan.. a claim has been “demonetized..” the Metro Bank acquires reserves from other banks.. Chapter 32

17. Points Received: Comments: Question 5.. Question : (TCO 7) Overnight loans from one bank to another for reserve purposes entail an interest rate called the prime rate.. discount rate.. federal funds rate.. treasury bill rate.. Chapter 32 Points Received: Comments: Question 6.. Question : (TCO 7) When a bank loan is repaid, the supply of money is constant, but its composition will have changed.. is decreased.. is increased.. may either increase or decrease.. Chapter 32 Points Received: Comments: Question 7.. Question : (TCO 7) The asset demand for money is unrelated to both the interest rate and the level of GDP..

18. varies inversely with the rate of interest.. varies inversely with the level of real GDP.. varies directly with the level of nominal GDP.. Chapter 33 Points Received: Comments: Question 8.. Question : (TCO 7) The equilibrium rate of interest in the market for money is determined by the intersection of the supply of money curve and the asset demand for money curve.. supply of money curve and the transactions demand for money curve.. supply of money curve and the total demand for money curve.. investment demand curve and total demand for money curve.. Chapter 33 Points Received: Comments: Question 9.. Question : (TCO 7) The discount rate is the interest rate at which the central banks lend to the U..S.. Treasury.. rate at which the Federal Reserve Banks lend to commercial banks.. yield on long-term government bonds.. rate at which commercial banks lend to the public.. Chapter 33 Points Received:

19. Comments: Question 10.. Question : (TCO 7) A restrictive monetary policy is designed to shift the: aggregate demand curve rightward.. aggregate demand curve leftward.. aggregate supply curve rightward.. aggregate supply curve leftward.. Chapter 33.. Points Received: Comments: Question 11.. Question : (TCO 7) Explain what is meant by fractional reserve banking.. Relate this to money creation and risk to the bank.. Question 12.. Question : (TCO 7) Describe what changes in the Fed’s major policy tools lead to [a] expansionary and [b] restrictive or contractionary monetary policies.. Devry ECO 312 Week 7 Weekly Assignment Latest Question 1.. Question : (TCO 8) The United States’ most important trading partner quantitatively is China.. Canada.. Mexico..

20. Japan.. Question 2.. Question : (TCO 8) The organization created to oversee the provisions of multilateral trade agreements, resolve disputes under the international trade rules, and meet periodically to consider further trade liberalization is called the International Monetary Fund (IMF).. World Trade Organization (WTO).. Common Market Organization (CMO).. International Trade Commission (ITC).. Question 3.. Question : (TCO 9) The current account in a nation’s balance of payments includes its goods exports and imports, and its services exports and imports.. foreign purchases of domestic assets.. purchases of foreign assets.. All of these : Chapter 38 Points Received: 1 of 1 Comments: Question 4.. Question : (TCO 9) If the exchange rate between the U..S.. dollar and the Japanese yen is $1 = 200 yen, then the dollar price of the yen is $..005.. $..05.. $..50..

21. $5.. : Chapter 38 Points Received: 1 of 1 Comments: Question 5.. Question : (TCO 9) In terms of individual nations, the largest U..S.. trade deficit is with Japan.. Mexico.. China.. Canada.. : Chapter 38 Points Received: 1 of 1 Comments: Question 6.. Question : (TCO 9) When the U..S.. dollar decreases in value relative to foreign currencies the: Demand for U..S.. exports will decrease Supply of U..S.. exports will decrease Demand for U..S.. exports will increase Supply of U..S.. exports will remain constant : Chapter 38 Points Received: 1 of 1 Comments: Question 7.. Question :

22. (TCO 8) The primary gain from international trade is increased employment in the domestic-export sector.. more goods than would be attainable through domestic production alone.. tariff revenue.. increased employment in the domestic-import sector.. : Chapter 37 Points Received: 1 of 1 Comments: Question 8.. Question : (TCO 8) Refer to the graphs below.. Stanville has a comparative advantage in producing Graph Description Product A.. Product B.. both Product A and B.. neither Product A nor B.. : Chapter 37 Points Received: 1 of 1 Comments: Question 9.. Question : (TCO 9) Which one of the following is not one of the so-called G8 Nations? Japan Canada United States

23. China : Chapter 38 Points Received: 1 of 1 Comments: Question 10.. Question : (TCO 8) In recent years the United States has exported more services abroad than it has imported.. had a small goods trade surplus with Japan.. had a large goods trade surplus with the rest of the world.. maintained an overall trade surplus (goods and services combined) with the rest of the world.. : Chapter 37 Points Received: 1 of 1 Comments: Question 11.. Question : (TCO 8 and 10) Explain some of problems with the argument that trade protection is needed to protect American jobs.. Question 12.. Question : (TCO 9) What effect might the depreciation of the U..S.. dollar relative to the Japanese yen have on imports and exports to and from each country? Download File Now