MG 100 Midterm Exam Questions and Answers All Correct
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Course
MG 100
Institution
MG 100
MG 100 Midterm Exam Questions and Answers All Correct
There are four coffee shops in your town. All of them claim to have the "freshest-tasting coffee." Each shop advertises the unique benefits of its coffee and prices. This is an example of - Answer- monopolistic competition
Jeannette has a...
MG 100 Midterm Exam Questions
and Answers All Correct
There are four coffee shops in your town. All of them claim to have the "freshest-tasting
coffee." Each shop advertises the unique benefits of its coffee and prices. This is an
example of - Answer- monopolistic competition
Jeannette has a successful organic spa business in which she gives massages, facials,
and organic body treatments. Last summer, another organic spa opened up in town.
The supply curve for Jeanette's business would shift in which direction? - Answer- to the
left
What is a determinant of demand - Answer- changes in income levels
Racerback Swimwear, an Australian company, opens a factory near Tallahassee,
Florida. The value of the swimsuits produced in the new Florida factory is included in
which country's GDP? - Answer- United States
What tracks the prices of goods and resources sellers use to create their products? -
Answer- PPI
Jackson Paulson works as a waterskiing instructor at Migis Lodge on Sebago Lake. He
claims unemployment from October through April. Jackson experiences which type of
unemployment? - Answer- seasonal
Example of the government's fiscal policy to stimulate an economy - Answer- decreases
in the discount rate
What results when there is an increase in overall prices? - Answer- inflation
At which point in the business cycle is the economy when GDP declines for two or more
successive quarters - Answer- recession
T/F Microeconomics is the study of the behavior of the overall company - Answer- false
T/F The discount rate is what is charged when banks borrow emergency funds from
each other - Answer- false
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