Characteristic Of A Capitalist Economy Essay Assignment
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Characteristic Of A Capitalist Economy Essay Assignment
(TCO1) which of the following is considered to be an entrepreneur?
a. Self-employed person
b. MBA graduate hired by a firm to be its CEO
c. Production-line worker
d. Customer of a firm
3. (TCO1) A point outside the production possibilities curve is
a. attainable and the economy is efficient.
b. attainable, but the economy is inefficient.
c. unattainable, but the economy is inefficient.
d. unattainable and the economy is efficient. Characteristic Of A Capitalist Economy Essay Assignment
4. (TCO1) Which would not be a characteristic of a capitalist economy?
a. Government ownership of most factors of production
b. Competition and unrestricted markets
c. Reliance on the market system
d. Freedom of enterprise and choice
5. (TCO2) The demand curve is a representation of the relationship between the quantity of a product demand and
6. (TCO2) A decrease in supply and a decrease in demand will
a. increase price and affect the equilibrium quantity in an indeterminate way
b. decrease the equilibrium quantity and decrease price
c. increase the equilibrium quantity and affect price in an indeterminate way
d. decrease the equilibrium quantity and affect price in an indeterminate way
7. (TCO 2) When the price of movie tickets in a certain town was reduced, the movie theaters’ revenue did not change. This suggests that the demand for the movie tickets in that town has a price-elasticity coefficient of
b. greater than 1
8. (TCO 2) The price of elasticity of demand increases with the length of the period considered because
a. consumers’ incomes will increase over time
b. the demand curve will shift outward as time passes
c. all prices will increase over time
d. consumers will be better able to find substitutes
9. (TCO 2) A purely competitive firm’s output is such that its marginal cost is $4 and marginal revenue is $5.
a. cut its price and raise its output
b. raise its price and cut output
c. leave price unchanged and raise output
d. leave price unchanged and cut output
- (TCO 2) Consumers who clip redeem discount coupons
a. exhibit the same price elasticity of demand for a given product than consumers who do not clip and redeem coupons
b. exhibit the more price elasticity of demand for a given product than consumers who do not clip and redeem coupons
c. exhibit the less price elasticity of demand for a given product than consumers who do not clip and redeem coupons
d. cause total revenue to decrease for firms that issue coupons for their products
- (TCO3) in the kinked demand model of oligopoly, if one firm increases its price, that most likely reaction of the other firms will be to
a. decrease their prices
b. increase their prices.
c. not change their prices.
d. reduce their quantity
- (TCO 3) The main difference between the short run and the long run is that
a. firms earn zero profits in the long run
b. the long run always refers to a time period of one year or longer
c. in the short run , some inputs are fixed
d. in the long run, all inputs are fixed
- (TCO 4) A recession is a decline
a. the inflation fate that last six months or longer
b. the unemployment rate that last six month or longer
c. real GDP that lasts six months or longer
d. potential GDP that lasts six months or longer
14. (TCO) In calculation the unemployment rate, part-time workers are
a. counted as unemployed because they are not working full-time
b. counted as employed because they are receiving payment for work
c. used to determine the size of the labor free, but not the unemployment rate
d. treated the same as “discouraged” workers who are not actively seeking employment
- (TCO 4) GDP is the market value
a. resources (land, labor, capita and entrepreneurship) in an economy in a given year
b. all final goods and services produced in an economy in a given year
c. consumption and investment spending in an economy in a given year
d. all output produced and accumulated over the years
- (TCO 4) Nominal GDP differs from real GDP because
a. nominal GDP is based on constraint prices
b. real GDP is based on current prices
c. real GDP is adjusted for changes in the price level
d. nominal GDP is adjusted for changes in the price level
- (TCO 6) The goal of expansionary fiscal policy is to increase
a. the price level
b. aggregate supply
c. real GDP
- (TCO 6) refer to the graph. What combination most likely cause a shift from AD1 to AD3?
a. increase in taxes and government spending
b. decrease in taxes and increase in government spending
- decrease in taxes and decrease in government spending
d. decrease in taxes and government spending
- (TCO 6) The American Recovery and Reinvestment Act of 2009 is a clear example of
a. nondiscretionary expansionary fiscal policy
b. nondiscretionary contractionary fiscal policy
c. discretionary contractionary fiscal policy
d. discretionary expansionary fiscal policyCharacteristic Of A Capitalist Economy Essay Assignment
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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