ECO550 WEEK 5 MID TERM PART 2 LATEST 2017 (PERFECT ANSWER)

QuestionQuestion 14 out of 4 pointsThe 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:Selected Answer:Correct Answer:Question 24 out of 4 pointsFor studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use?Selected Answer:Correct Answer:Question 34 out of 4 pointsThe type of economic indicator that can best be used for business forecasting is the:Selected Answer:Correct Answer:Question 44 out of 4 pointsWhich of the following barometric indicators would be the most helpful for forecasting future sales for an industry?Selected Answer:Correct Answer:Question 54 out of 4 pointsSmoothing 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.Selected Answer:Correct Answer:Question 64 out of 4 pointsThe 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:Selected Answer:Correct Answer:Question 74 out of 4 pointsIf 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?Selected Answer:Correct Answer:Question 84 out of 4 pointsUsing demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES wouldSelected Answer:Correct Answer:Question 94 out of 4 pointsAn increase in the exchange rate of the U.S. dollar relative to a trading partner can result fromSelected Answer:Correct Answer:Question 104 out of 4 pointsThe purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of timeSelected Answer:Correct Answer:Question 114 out of 4 pointsIf the British pound (?) appreciates by 10% against the dollar:Selected Answer:Correct Answer:Question 124 out of 4 pointsEuropean Union labor costs exceed U.S. and British labor costs primarily becauseSelected Answer:Correct Answer:Question 134 out of 4 pointsAn appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer  of motorcycles?Selected Answer:Correct Answer:Question 144 out of 4 pointsIf 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?Selected Answer:Correct Answer:Question 154 out of 4 pointsMarginal factor cost is defined as the amount that an additional unit of the variable input adds to ____.Selected Answer:Correct Answer:Question 164 out of 4 pointsGiven a Cobb-Douglas production function estimate of Q = 1.19L.72K.18 for a given industry, this industry would have:Selected Answer:Correct Answer:Question 170 out of 4 pointsThe isoquants for inputs that are perfect complements for one another consist of a series of:Selected Answer:Correct Answer:Question 184 out of 4 pointsIn 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:Selected Answer:Correct Answer:Question 194 out of 4 pointsThe marginal rate of technical substitution may be defined as all of the following except:Selected Answer:Correct Answer:Question 204 out of 4 pointsThe cost function is:Selected Answer:Correct Answer:Question 214 out of 4 pointsEconomies of Scope refers to situations where per unit costs are:Selected Answer:Correct Answer:Question 224 out of 4 pointsEconomies of scale exist whenever long-run average costs:Selected Answer:Correct Answer:Question 234 out of 4 pointsWhat method of inventory valuation should be used for economic decision-making problems?Selected Answer:Correct Answer:Question 244 out of 4 pointsAccording to the theory of cost, specialization in the use of variable resources in the short-run results initially in:Selected Answer:Correct Answer:Question 25    4 out of 4 pointsThe existence of diseconomies of scale (size) for the firm is hypothesized to result from:Selected Answer:Correct Answer: