Strayer University, ECO 550, Midterm Exam part 2 Latest, Already Graded A+

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1. Smoothing 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. 2. The variation in a... n economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as: 3. The type of economic indicator that can best be used for business forecasting is the: 4. If two alternative economic models are offered, other things equal, we would 5. For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use? 6. The use of quarterly data to develop the forecasting model Yt = a +bYt−1 is an example of which forecasting technique? 7. An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles? 8. Trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because 9. In an open economy with few capital restrictions and substantial import-export trade, a rise in interest rates and a decline in the producer price index of inflation will 10. Using demand and supply curves for the Japanese yen based on the $/¥ price for yen, an increase in US INFLATION RATES would 11. An increase in the exchange rate of the U.S. dollar relative to a trading partner can result from 12. The optimal currency area involves a trade-off of reducing transaction costs 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 tend to see all of the following EXCEPT: 13. If the British pound (₤) appreciates by 10% against the dollar 14. The marginal product is defined as: 15. In 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: 16. In a relationship among total, average and marginal products, where TP is maximized: 17. If 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? 18. The primary purpose of the Cobb-Douglas power function is to: 19. The combinations of inputs costing a constant C dollars is called: 20. The existence of diseconomies of scale (size) for the firm is hypothesized to result from: 21. If TC = 321 + 55Q – 5Q2, then average total cost at Q = 10 is 22. For a short-run cost function which of the following statements is (are) not true? 23. The cost function is 24. What method of inventory valuation should be used for economic decision-making problems? 25. According to the theory of cost, specialization in the use of variable resources in the short-run results initially in: [Show More]

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