Q: National income is equal to Multiple Choice rent + transfer payments + interest + wages
A: National income is the sum of factor income earned by the residents of the country over the given pe...
Q: PROBLEM IV. Consider an industry consisting of two firms (i = 1,2) that are engaged in a Bertrand pr...
A: Let's first learn that what is actually collusive pricing. It is said to be a scenario when few comp...
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Q: Which of the following is NOT an example of improper methods when conducting a cost-benefit analysis...
A: A cost-benefit analysis is a systematic process used by businesses to determine which decisions shou...
Q: Figure 7.7. What is the marginal gain in output from increasing the number of barbers from 4 to 5 an...
A: Diminishing marginal returns shows that as we hire more and more inputs the marginal productivity de...
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A: Budget constraint refers to the different combinations of two goods that a consumer can consume with...
Q: The economy is growing at a healthy rate. Nominal GDP is expected to grow by 4 percent this year. Ho...
A: Nominal GDP refers to the value of goods and services measured at current year prices.
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A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...
Q: 1. Calculate the value of nominal GDP for 2004. a. PHP800 b. P1,060 c. P1,200 d. P1,460
A: Nominal GDP refers to the GDP at current prices. It is defined as the market value of the various go...
Q: If actual output stays above potential output for some time, then we should expect. to rise and the ...
A: The goods market is in equilibrium where the aggregate demand and aggregate supply are equal to each...
Q: In 1845 French economist Frederic Bastiat wrote his satire, "Petition of the Candlemakers," which ca...
A: The "Candle Maker's Petition" is a satire of protectionist tariffs, written the by great French econ...
Q: Given demand function Q= 50 - 0.4P, what is the pnce elasticity of demand at price P = 257 O 025 O 0...
A: Q = 50-0.4P Put P = 25 => Q = 50 - 0.4 * (25) => Q = 50 - 10 => Q = 40 At a price of 25, th...
Q: YOur answers are S ng Time: 51 minutes, 21 seconds. an Completion Status: 6. 7 9. 10 Moving to anoth...
A: Elasticity of demand measures the responsiveness of quantity demanded with respect to change in pric...
Q: 14. The labour force participation rate is the А. Proportion of population that is working Proportio...
A: Answer: Labor force participation: Labor force participation rate refers to the proportion of the po...
Q: Consider a two-sectors (1, 2), two-inputs (L, K), production side of general equilibrium economy, wi...
A: Production Possibility Curve - This curve tells about a choice of output due to the limited availabi...
Q: Indifference curves represent: a) Ability to pay b) Total Utility c) Marginal Utility d) None of the...
A: Total utility refers to the total satisfaction that a consumer gets from consuming a good. Marginal ...
Q: Suppose final demand changes to 77 for Health, 154 Oil, and 231 for Housing. Find the output matrix ...
A:
Q: . As output increases MC curve initially falls and then rises
A: To find : What happens when output increases.
Q: The first costs of an equipment is P 65,000 and a salvage value of P 3,000 at the end of its 6- year...
A: First cost of the equipment (FC) =P65000 Salvage value (S) =P 3000 Useful life (n) =6 years r=10% We...
Q: In a simple model without government spending or taxation, if C = a +bY where C is consumer spending...
A: Consumption Function is the function relationship between the spending of the consumer and the facto...
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Q: Suppose First National Bank holds $100 million in assets with an average duration of 4 years, and it...
A: Given duration of assets = 4 Duration of liabilities = 2 Change in interest rate = 4%
Q: essay please
A: The money market is in equilibrium where the money demand and money supply are equal to each other. ...
Q: Suppose First National Bank holds $100 million in assets with an average duration of 4 years, and it...
A: The difference between assets and liabilities always gives net worth i.e Net worth = Assets - liabil...
Q: 1. Han and Leia have taken out a $800,000, 5 percent, 30 year mortgage to pay for their new home. Th...
A: The data given in the question is:- Amount = 80,000 Interest = 5% = 5%/12 = 0.416 Time = 30 years = ...
Q: Consider the Cobb-Douglas production function y-AKO.3N0,7, where y is output, A is total factor prod...
A: Given that: Y = AK0.3N0.7 where Y is the OutputA is the Total Factor ProductivityK is the CapitalN i...
Q: Where is the UAE on the World’s Richest Countries list? a) What is he GDP and GDP per capita of the ...
A: Hi! Thank you for the question, as per the honour code, we are allowed to answer three sub-parts at ...
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A: Energy expenditure Energy expenditure refers to the amount of money used in the production of energy...
Q: 9. A soot spewing blacksmith producing steel S is located near a laundry where clean clothes are hun...
A: The output of the blacksmith is given by, MCS=PS⇒2S=40⇒Snc=20 If the cleaner equates MC to price, MC...
Q: When the unit price of a designer bag is $700 the quantity demanded is 4500 per month. When there is...
A: This is a question from mathematical economics. We will calculate the equation of demand and supply ...
Q: Price Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $8...
A: Answer: Price ceiling: price ceiling refers to the maximum limit on price imposed by the government....
Q: 4 Assume that a person's utility over two goods is given by U(g1; g2) = g1 + ln g2. The price of goo...
A: Answer: Given, Utility function: Ug1,g2=g1+lng2Price of good g1=p1Price of good g2=p2Marginal rate o...
Q: List two (2) differences between the consumer price index and the GDP deflator?
A: Consumer price index (CPI) is the weighted average of the prices of the basket for goods and service...
Q: 5. The results of the recent Federal Census will have no impact on the amount of revenue a State rec...
A: Answer -
Q: Good Quantity 2017 prices 2018 prices 2019 prices A 10 1.750 KD 2.000 KD 1.750 KD B 20 2.000 KD 2.00...
A: Given: Quantity of A=10 Quantity of B=20 Quantity of Z=10 Note: Due to multiple subparts being poste...
Q: The first costs of an equipment is P 65,000 and a salvage value of P 3,000 at the end of its 6- year...
A: Cost of equipment = 65000 P Salvage value = 3000 Time = 6 years
Q: Which of the following statements is FALSE? a.) Economists seek to apply the scientific method to so...
A: Scientific models do not attempt to explain every circumstance or every aspect because they are repr...
Q: Use the following supply and demand schedules for skate boards in table 18.1, to answer the question...
A: Solution(a):- When the price ceiling of $700 i.e. above the equilibrium price is implemented, it is ...
Q: You own a zero-coupon bond that will pay 10,000 in two years. The interest rate from 2021 to 2022 is...
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Q: Calculate the value of the GDP deflator in 2004. a. 113 b. 116 c. 119 d. 120 *base year is 2003
A: The formula for GDP deflator GDP deflator =Nominal GDPReal GDP×100 Base year is 2003 We have to cal...
Q: e following table describes the production possibilities of two cities in the country of Baseballia:...
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A: Demand curve refers to the curve in an x-y plane with price on the y-axis and quantity of a good on ...
Q: What happens when the government temporarily runs a deficit by spending more on public stimulus with...
A: Deficit When spending surpass receipts, a budget deficit arises, and it indicates a country's financ...
Q: Question 11 of 11 View Policies Current Attempt in Progress Natasha takes out a loan. The interest o...
A: At month t she owes $14000 At month t+1, she owes $14000(1+(0.09/12))=14105 After this payment is pr...
Q: The current national unemployment rate in the United States as of January 2022 falls within the boun...
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Q: Question 18 relies on the following information: Vendors A and B sell a homogenous good and simultan...
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Q: Let 100 -100 A = 300 -300 200 -200 be an asset payoff matrix. You are 'greedy': 'more is better' in ...
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Q: Suppose you are given the following information: Q s = 100 + 3P Q d = 400 – 2P where Qs is the qua...
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Q: Consider a small, remote town with only one employer - a pulp and paper mill. Suppose there are curr...
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Why is it desirable for a country to have a large
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- How does the decline of natural resources and biodiversity affects Gross Domestic Product and Gross National Product?What are the two main difficulties that arise in comparing different countries's GDP?Is GDP per capita a good measure of a country's standard of living? Is GDP a good measure of a country's well-being? How should a country’s well-being be measured?