ECO 550 ECO550 Midterm Part 1 (NEW 2016) Answers (Strayer)

ECO 550 ECO550 Midterm Part 1 (NEW 2016) Answers (Strayer)

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ECO 550 Midterm part 1 (NEW 2016 STRAYER)

  1. Economic profit is defined as the difference between revenue and ____.
  2. In the shareholder wealth maximization model, the value of a firm's stock is equal to the present value of all expected future ____ discounted at the stockholders' required rate of return.
  3. The Saturn Corporation (once a division of GM) was permanently closed in 2009.  What went wrong with Saturn?
  4. The flat-screen plasma TVs are selling extremely well.  The originators of this technology are earning higher profits.  What theory of profit best reflects the performance of the plasma screen makers?
  5. A Real Option Value is:
  6. The form of economics most relevant to managerial decision-making within the firm is:
  7. An closest example of a risk-free security is
  8. The approximate probability of a value occurring that is greater than one standard deviation from the mean is approximately (assuming a normal distribution)
  9. The level of an economic activity should be increased to the point where the ____ is zero.
  10. Generally, investors expect that projects with high expected net present values also will be projects with
  11. The ____ is the ratio of ____ to the ____.
  12. The primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are:
  13. Iron ore is an example of a:
  14. An income elasticity (Ey) of 2.0 indicates that for a ____ increase in income, ____ will increase by ____.
  15. Those goods having a calculated income elasticity that is negative are called:
  16. When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure.
  17. The factor(s) which cause(s) a movement along the demand curve include(s):
  18. Marginal revenue (MR) is ____ when total revenue is maximized.
  19. A price elasticity (ED) of −1.50 indicates that for a ____ increase in price, quantity demanded will ____ by ____.
  20. The standard deviation of the error terms in an estimated regression equation is known as:
  21. The constant or intercept term in a statistical demand study represents the quantity demanded when all independent variables are equal to:
  22. All of the following are reasons why an association relationship may not imply a causal relationship except:
  23. Demand functions in the multiplicative form are most common for all of the following reasons except:
  24. In which of the following econometric problems do we find Durbin-Watson statistic being far away from 2.0?
  25. The method which can give some information in estimating demand of a product that hasn’t yet come to market is

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