Our local factory typically produces 500 deer hunting stands each year. It is supposed to be a good year for deer hunting so they anticipate there will be greater demand this year for their product. Prices are very sticky in this industry. What will likely happen this year?

We include rents as part of the calculation of GDP when using the income approach to national accounting. Which of the following does rents include (check all that apply)?

Suppose that lenders want to receive a real rate of interest of 5 percent and that they expect inflation to remain steady at 3 percent in the coming years. Based on this, lenders should charge what nominal interest rate (indicate the whole number, e.g., 10).

Assuming prices can change, what will happen if there is a surplus in the market?

What do we know about the relationship between gross output and gross domestic product?

If the government sets a price ceiling below the equilibrium price

An unexpected productivity increase could be due to (check all that apply)

The university needs to beef up security. There are five options. Using cost-benefit analysis as the only criteria, which option should be undertaken? Exam 2 new security question.PNG 

If the supply of a product decreases and the demand for that product simultaneously decreases, we can say that the equilibrium

The parks district wants to put up a new playground in the local park in a three-family town. The marginal benefit for Jim would be $500; the marginal benefit for Jake would be $200. The marginal benefit for Connor, who has six children, would be $2,000. The total cost of putting in the swing set is $1,400 and each family needs to pay an equal amount. With no vote trading allowed, how many families would vote for this playground?