Q: Identify the parts of the business cycle 1-7 Real GDP # 5 #6 #1 Real GDP # 2 #7 # 4 Time
A: In economics, the business cycle is the diagram that helps in understanding the periods of…
Q: s a student, why is there a need to study economic development, and how is this relevant to…
A: Economic development is the essential part of economics which is study by the student when he study…
Q: What are the three economic sectors? Provide explanations and examples for each. How does the United…
A: Economics as a subject deals with the allocation, production and optimization of scarce resources…
Q: 1. 2. Explain why macroeconomic analysis is particularly concerned with issues of economic growth,…
A: Economic growth, the method by which a nation's wealth will increase over time. though the term is…
Q: Canada’s real GDP in November 2020was $1,934,643,000 and $1,990.238,000 in November 2019. Canada’s…
A: Real GDP refers to the value of goods and services produced by a country and the value of goods is…
Q: From the economic growth and business cycle. Fill the five phases to fit the graph bellow and give…
A: The business cycle is said to be a series of cyclical fluctuations of economic activity expansion…
Q: What is meant by Business Cycle? Identify the fiscal and monetary policies normally taken by…
A: A business cycle is the periodic growth and decline of a nation's economy, measured mainly by its…
Q: Discuss the impact of the small business on the economy in the United States What impact do small…
A: Small business can be defined as the privately owned organization, sole proprietorships, or…
Q: Macroeconomics is primarily concerned with business cycles and economic growth. Which of these two…
A: When talking about macroeconomics z it can be said that it is the broader economic concept that has…
Q: True or false? Part A. Government production accounts for about half of all GDP in the United…
A: Part A Private sector in United states accounts for 85% of workers.Therefore it cannot be said that…
Q: 18. What were some of the good results from the recent USMCA trade deal signed in 2019? Multiple…
A: Note: We will answer one question as the exact one was not specified. Please resubmit a new question…
Q: . What is productivity? Describe the factors of productivity.
A: The branch that deals with behavior, performance, structure, and decision-making abilities of an…
Q: 4.Explain all three Circular flow economic models in one structure.
A: The circular flow model is an economic model, which shows the flow of money through the economy. The…
Q: 4. Which of the following can be said about America's economy over time? It changes when the…
A: The United States is a developed nation with features of a market economy. It has the largest…
Q: Does the economic cycle have a specific time of months or years
A: Economic Cycle is also known as Business Cycle or Trade Cycle. There are 4 stages in an economic…
Q: (a) Susan and Patrick (Discovery Tours) are keen to progress with their idea and have begun to look…
A: Business tourism, often known as business travel, is a subset of ordinary tourism that is more…
Q: Q1. Why we study macroeconomics? Discuss the origins of macroeconomics. Also explain the reasons…
A: Economics studies the link between the manufacturing and utilization of commodities and services in…
Q: oduce shirts. 2012 Statistics 2020 Statistics 2021 Statistics Product Quantity Price Quantity Price…
A: Real GDP measures value of goods and services using constant set of prices.
Q: business cycle?
A: ‘Business cycle’ refers to a fluctuation in production, employment, trade and general activity in an…
Q: What are the four phases of the business cycle? How long do business cycles last? Why does the…
A: The downward and the upward movement of the GDP around the trend rate of growth is called the…
Q: do you think Pakistan economic situation will improve or deteriorate in next 5 years? Explain…
A: The Pakistan economic situation will improve in the next 5 years because of the country economic…
Q: Economics Explain and illustrate (with a graph), the Lewis "Two Sector Model". and How does this…
A: In development economics, the dual-sector model is a model. After its creator, W. Arthur Lewis, it…
Q: Economist defined economic recession as more the 2 consecutive quarters in which there is a decline…
A: 1. Economist defined economic recession as more the 2 consecutive quarters in which there is a…
Q: Write in detail about business cycle with example of an economy(Country)?
A: The business cycle can be termed as the fluctuations seen in the growth of the GDP which may be in…
Q: Which of these two macroeconomics issues is more important, economic growth or business cycle
A: Economic growth is influenced by random fluctuations, seasonal fluctuations, business cycle…
Q: Barcode technology spurred a lot of investment in retailing.How did it alter the retailing…
A: Answer - Need to find - Affect on he retailing production function and would a similar amount of…
Q: There are many factors that can influence the economy. Do you think natural disasters affect the…
A: The gross domestic product (GDP) is the total money value of all the goods and services produced in…
Q: During a given period of time, the economic growth of a country is reflected through phases of the…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: 7. Complete the following table. Real GDP (in billions of chained 2009 deflatorgrowth dollars)…
A: Answer - Need to find - Different economic variable Nomianl GDP - It's the total sum of a product…
Q: How does economic activities help the economic cycle? explain.
A: The term "economic cycle" refers to the economy's swings between expansion and contraction. The…
Q: Why we study macroeconomics? Discuss the origins of macroeconomics. Also explain the reasons why the…
A: Macroeconomics is a discipline of economics concerned with the broad level working of an ecosystem.
Q: Consider the macroeconomics process/perspective. 1). Do you think it helps the economy to…
A: 1. It affects you when the price of a product you wish to buy rises. But why is the price…
Q: The annual output and prices of a 3-good economy are shown in the table below. Quantity of Goods…
A: GDP refers to the market value of all final goods and services annually produced within a country
Q: Kindly explain the process of "Booms and Busts" and give an example.
A: In an economy, boom refers to the situation when people make too many economic activities in the…
Q: 17- When an economy is at the peak of the business cycle _____________. a. GDP remains unchanged b.…
A: Business cycle shows the transition of economy through out the different phases. It shows up and…
Q: MACRO ENVIRONMENT – based on NIKE COMPANY, | BRIEFLY EXPLAIN ALL the forces that have affected the…
A: Business economics helps in understanding all the economic factors that affect the business and its…
Q: Describe and use at least five pieces of real economic data to explain the current state of the U.S.…
A: Present status of the U.S economy in second from last quarter Real gross domestic product (GDP)…
Q: Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results…
A: ---------------- 2010 2020 Total spending 89 104.12 Local GDP 110 134 Population 50000…
Q: With the help of a concrete example explain the macro environment of a business organization
A: Macro Environment: The factors that are external to the firm or organization and an organization can…
Q: In your own words , summarize the main idea of 4 selected macroeconomic schools of thoughts , to…
A: Classical school of thought According to the classical school of economics, the individual interest…
Q: Transcribed Image Text:The price and quantity data for Year 1 and Year 2 are as follows: Bread 50 1…
A: Gross Domestic Product is defined as the monetary value of all final goods and services produced…
Q: Why socio-economic factors have a high impact on businesses, whether big or small
A: A business organization is affected by a number of factors in its internal and external environment.
Step by step
Solved in 2 steps
- What is a business cycle? Explain the four elements of a business cycle and what happens to economic activities and conditions during each element. In your explanation, be sure to touch on the concept of a recession. Use a graph to show the different elements.Why do economists and managers pay attention to the measurements of macroeconomic activity? several elements of these measurements such as durable goods, non-durable goods, etc21. What you mean by business cycles? What are their consequences? 22. All industrialized countries have become "service economies" in recent decades. Explain the reasons behind this shift. 25. Draw a production possibilities frontier for an economy, with the axes labeled "military goods" and "peace goods." Indicate the region that is attainable and the region that is not. Explain the shape of the curve-what assumptions did you make in drawing it? 26. Why is it inefficient for an economy to be inside the production possibilities frontier? 27. What is an aggregate? How is it used in macroeconomics? Give two examples of specific aggregates that are used in the study of macroeconomics. 28. What are the two basic principles of aggregation? 29. What is Gross Domestic Product? What is included in this statistic? What is excluded? Give two examples of goods or services that are included in GDP and two examples of goods or services that are excluded. 30) Which of the following items are…
- Without using real data, draw a graph showing how real GDP changes over a business cycle. Label and briefly describe each of the phases of a business cycle on your graph (recession, trough, expansion, peak).Explain the importance of macroeconomics in an economySuppose that Indonesia's national production function is Y = K 05L 05, where K is the amount of land and Lis the amount of labor. The economy starts when the amount of land owned is 100 units and the number of workers is 100 units. Calculate the following indicators. a. How much output is produced? b. What are the labor wages and land rent? c. What is the share of the output received by labor? d. If a natural disaster occurs that causes the population to be reduced by half, what is the new level of national output? e. What are the new rates of labor wages and land rent? f. What share of output does the labor receive now?
- How do you think your life is affected by macro economic forces? Provide examples as well. Just a summary please:) 1 and a half paragraphQuestion 25 Look at the graph illustrating the stages in the business cycle. Then answer the question that follows. IV II Time With regard to the business cycle, what do the numerals on the graph represent? I: peak; II: recession; IlI: trough; IV: expansion B I: trough; II: recession; III: peak; IV: expansion I: peak; II: expansion; III: trough; IV: recession D 1: trough; II: expansion; IlI: peak; IV: recession ©2021 Iluminate EducationTM Inc. OOO Real GDPOutput measured through a macroeconomic lens can be explained as: A) Production of the entire economy. B)Production in a monopoly. C)Production of one worker. D)Production of a business.
- Explain why the growth rate in GDP in current prices does not provide information about how quickly the economy is really growing.INTRODUCTION TO MACROECONOMICS 1. What is productivity? Describe the factors of productivity.Part C: Following graph shows business cycle fluctuation in a hypothetical economy. "Y" denotes year, and "Q" denotes quarter. What do points A, B, C, and D denote? Write at least a sentence each about what these points denote. Also, explain what represent the curve segments: A to B, B to C, and C to D. Lastly, because economic activity fluctuates, how is long-term growth possible? Real GDP (billion $) 50 45 40 B 35 30 25 20 15 10 5 Y1Q1 Y1Q2 Y1Q3 Y1Q4 Y2 Q1 Y2 Q2 Y2 Q4 Y3 Q1 Y3Q2 un o