Alternative economic models Essay

1. If two alternative economic models ar offered, other things equal, we would2. Time-series forecasting models3. Consumer expenditure plans is an manakin of a forecasting method. Which of the general categories best described this example?4. An example of a time series data set is one for which the5. For studying demand relationships for a proposed new product that no one has eer used before, what would be the best method to use?6. Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?7. If Ben Bernanke, electric 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 care for of the dollar?8. An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?9. The purchasing power parity hypothesis implies that an step-up in inflation in one country relative to a nonher will over a lon g period of time10. In an open economy with few expectant restrictions and substantial import-export trade, a rise in interest rates and a decline in the producer price index of inflation will11. An increase in the exchange rate of the U.S. dollar relative to a trading partner can result from12. The optimal currency area involves a trade-off of reducing transaction be but the inability to use changes in exchange rates to help ailing regions. If the US, Canada, and Mexico had one single currency (the Peso-Dollar) we would slant to see all of the following EXCEPT13. Using demand and supply curves for the Japanese yen based on the $/ price for yen, an increase in US INFLATION RATES would14. The isoquants for inputs that are perfect complements for one another consist of a series of15. The combinations of inputs costing a constant C dollars is called16. In a production process, an excessive amount of the variable star input relative to the fixed input is being used to produce the de sired output. This statement is true for17. If the borderline 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?18. The isoquants for inputs that are perfectsubstitutes for one another consist of a series of19. Marginal factor cost is defined as the amount that an additional unit of the variable input adds to ____.20. What method of inventory valuation should be used for economic decision-making problems?21. The existence of diseconomies of scale (size) for the firm is hypothesized to result from22. ____ are defined as costs which are incurred regardless of the alternative action chosen in a decision-making problem.23. The cost function is24. For a short-run cost function which of the following statements is (are) not true?25. According to the theory of cost, specialization in the use of variable resources in the short-run results initially in