Q: 1. What are the advantages and disadvantages of collusion ? 2. In a stackelberg game, what is the...
A: 1. Collusion is the tacit cooperation or agreement of two or more people to deceive others in order ...
Q: What are Smith’s ideas on the components price of commodities, natural and market price, the real an...
A: Adam Smith proposed an approach of defining the values of a commodity based on labor resource expend...
Q: In the long-run framework, budget surpluses: Choose the Correct and Explain why its correct should ...
A: When the income tends to exceed the expenditures of an economy, there is an occurrence of budget sur...
Q: Today, Americans recycle what percentage of their municipal solid waste? 15 percent 28 percent O 33 ...
A: The 292.4 million tonnes of municipal solid waste (MSW) generated in 2018 are classified into two ca...
Q: Economic efficiency of the legal process with respect to law suits requires the minimization of Ca +...
A: A general economic analysis of the law does not place its function withiñ the framework of common le...
Q: Consider the following game tree: R R B (2) ( ) 2. 2 20 (2,1) (0,0) (2,1) (0,0) (0,0) (,2) (0,0) (1,...
A: Player 1 has 6 pure strategies to choose from : { U , D , A, B , a , b } Player 2 has 8 pure strate...
Q: ) Suppose there are two major Nuclear Energy Markets, U.S.A and Russia. The following are their MB f...
A: The individual marginal benefit functions are nothing but the demand functions of individual countri...
Q: As a result of the tax on capital income, labor productivity O might change but whether it increases...
A: Taxes are unintended fees placed on individuals or companies and levied by a government agency – reg...
Q: Which of the following effects happen at the same time with a substitution effect? O a. preferences ...
A:
Q: If P35, 000 is deposited now into a savings account that earns 6% per year, what uniform annual amou...
A: Given: Amount=P 35000 Interest rate (i)=6% Number of years (n)=10
Q: Compare the roles of the United Nations, the World Bank, the European Union, the World Trade Organiz...
A: Business can be of different categories various types. For example in burger business, there is burg...
Q: 1. How is Globalization depicted in the photo; how does this apply to the Philippines? 2. If this is...
A: The term "globalization" refers to the global interconnection of people and enterprises, which event...
Q: Stagflation is a macroeconomic situation where Question 43 options: GDP falls and unemployment r...
A: Macroeconomics is the branch of economics that deals with concerning the economy as a whole.
Q: If the price of good A increases relative to the price of substitutes Rand C the demand for
A: To find : According to scenario what will happen im change of price .
Q: Suppose the maintenance for a piece of equipment costs P2,669 on year 1 and increases by 5.69% every...
A: Cost is the expenditure that is incurred in producing goods and services. It means the total cost is...
Q: • Discuss how individuals and businesses can help move our economic system in a sustainable directio...
A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...
Q: Consider the following multiple regression Price = 118.3 + 0.574BDR+ 22.6Bath + 0.136Hsize + 0.005Ls...
A: The regression equation is mainly used to estimate the relationship between a response variable and ...
Q: write about Arthur Lewis's dual-sector model of development, and how this model sheds light on the e...
A: Quantity of enterprise depends on certain factors that are important for enterprise. It would increa...
Q: The central bank increased monetary base from 1,000 to 2,000. Calculate the increasc in money supply...
A: Money supply is given by the formula: Money supply = money multiplier ×monetary base where money mul...
Q: What is meant by a regulatory taking?
A: A regulatory taking is associated with property rights when a property is taken because when a polic...
Q: The following question is based on the production function D=80L0.7K0.3 where the cost of labour is ...
A: The production function shows the relationship between the factors of production and the quantity of...
Q: 5. Provide rationale for deductibles and copayments. What is the effect of deductibles and copayment...
A: For taking some service for example if an individual wanted to take some insurance then they need to...
Q: President Trump is currently getting tough on trade. This means he wants terms of trade so that Q...
A: When service is produced, fixed and variable cost takes place and process of business follow ups. B...
Q: 43. If income elasticity for a go then it is a A. O Necessity item B. O Inferior good C. O Luxury it...
A: Income elasticity of demand means the responsiveness of the quantity demanded for a good to a change...
Q: 1. Retail Promotion Programs Successful retail promotion programs have the capacity to generate addi...
A: Initial Equilibrium quantity = 100,000 Initial Price = 10 Initial profit per box = 10 - 2 = 8 per b...
Q: cr+1 Consider the money supply Ms=mxB , m= cr+rr Assume that the demand for real money is given by t...
A: Since the question you have posted consists of multiple parts, we will answer the first two parts fo...
Q: Parts c and d in the attached image please
A: We are given two countries Australia and New Zealand. Both countries produce and consume two goods i...
Q: Discuss divergent views on population growth
A: Population growth:- The rise in the number of individuals in the population is known as population e...
Q: All of the following are determinants of demand except
A: To find : Which is not determinants of demand.
Q: Now the county government give the project to the company by way of bidding, considering the status ...
A: Since the question you have posted consists of multiple parts, we will answer the first two parts fo...
Q: iage is a Year Expenditures 1 $40,000 2 $45,000 3 $80,000 $280,000 $550,000 6 $750,000
A: Compounding is the interaction by which interest is credited to a current chief sum as well as to in...
Q: Supply & Demand $34 18 13 Price per unit
A: Consumer surplus is the area above the price line and under the demand curve. The price is set at $...
Q: following is a total cost curve. Calculate and sketch the corresponding MC curve. If the price of ou...
A: TC = Total revenue MC = Marginal cost TR = Total revenue FC = fixed cost MR = Marginal revenue
Q: Explain how and why it might be possible for the unemployment rate to fall during the worst part of ...
A: A recession is a period of economic contraction. During recession businesses experience decreased de...
Q: increases, which the Fed could offset by purcha creases, which the Fed could offset by selling b cre...
A: When the stock market booms ,then the total aggregate demand in the economy increases in the economy...
Q: 2. Exercise on Stackelberg oligopoly: Consider the following duopoly. The market demand curve Q= 53 ...
A: Introduction A duopoly model has given. Market demand : Q = 53 - P Market demand for both the firm w...
Q: The gravity model of trade describes an exact physical relationship between trade, distance and size...
A: "The statement is FALSE."
Q: The class that owns the mode of production is in the dominant position and exploits the other classe...
A: Here, it is given that a firm or class has ownership of mode of production due to which it exploited...
Q: According to Marshall, the basis of consumer surplus is Law of diminishing MU
A: To find : What is basis of consumer surplus.
Q: The travel cost method is capable of estimating both use and non-use values for environmental qualit...
A: When talking about travel cost method, it is widely used to analyze enviornmental quality and it rec...
Q: Reflect on the causes for the transitions in U.S. history from one type of environmental policy to a...
A: Environmental economics is the study of the economics of environmental protection and the economic i...
Q: 9-3. Tyson Brothers Manufacturing is currently earning economic profit. However, the market for the ...
A:
Q: В.1. a) A profit-maximising firm faces a downward-sloping demand curve for its output and has margin...
A: * ANSWER :- B.1) (a)
Q: Can a debtor be put in delay and consequently, incur liability even without demand from creditor? ex...
A: Debtor:- A debtor can be explained as a legal person that promises to repay any amount to another. A...
Q: Consider a small open economy. Assume that GDP (Y) is 5000. Consumption (C) is given by the equatio...
A: Exchange rate is defined as the value of a currency that is given in terms of another currency. It i...
Q: Figure 1 Y A' X X Nation 1 Nation 2 1. Which nation has a stronger preference for Y? Explain. 2. Wha...
A: Production Possibility Frontier curve indicates all combinations of output that can be produced by a...
Q: A widget has an opportunity cost of 4 wadgets in Saudi Arabia and 2 wadgets in the United States. Gi...
A: Given : A widget has an opportunity cost of 4 wadgets in Saudi Arabia and 2 wadgets in the United St...
Q: Problem 1. (Monopoly and Efficiency) A monopolist faces a market demand Q= 30-P, where P is the mark...
A: Monopolist demand curve: Q=30-P (writing it in quantity terms, we get) P=30-Q Total revenue= P*Q =(3...
Q: Consider the main approaches to environmental policy— lawsuits, command-and-control laws and regulat...
A: Any measures being taken by the government or any other private organization with respect to the eff...
Q: The article described shortcomings of using CAFE standards to improve fuel economy and emissions of ...
A: Price elasticity of demand is the responsiveness in quantity demand due to price changes.
Step by step
Solved in 2 steps
- Given the following output for the economy of Scoob calculate the nominal GDP in 2020 in $. Gismo Applet Widgets Year Price Quantity Price Quantity Price Quantity 2019 $100 1 $10 8 $5 4 2020 $110 1 $12 10 $4 5 A. 225 B. 250 C. 200 D. none of the aboveYou have been employed as the chief economist for the economy UWI Land. The head statistician has provided you with the following information: Compensation of Employees 900 Consumption of goods 850 Corporate profits 400 Rent Income 125 Factor income paid to the world 325 Consumption of services 475 Factor Income received from the world 170 Residential investments 350 Indirect taxes 775 Non-residential investments 525 Subsidies 125 Government Expenditure 925 Depreciation 120 Imports 700 Net interest 75 Exports 300 Proprietors income 300 Calculate UWI Land’s GDP using (1) the Income and (2) the Expenditure Approach Question 2 (Activity 7.1) Suppose production and prices of food and clothing (the only two goods produced in this economy) in 2006 and 2007 are as follows: (base year = 2006) Year Quantity of Food Price of Food Quantity of Clothing Price of Clothing 2006 20 $15 15 $5 2007 60 $18 30 $6 Calculate: (i) nominal and real GDP in 2006 and…Consumer price index, based on a problem from “Principles of Economics” byN. Gregory Mankiw Question 3) Wen is a typical consumer. Wen spent a total of $10 on 10 pomegranates, $36 on 3 shawarmas,and $35 on 7 cups of coffee in August. In September, Wen spent a total of $18 on 12 pomegranates, $24on 2 shawarmas, and $42 on 7 cups of coffee. In October, Wen spent a total of $22 on 11 pomegranates,$33 on 3 shawarmas, and $32 on 4 cups of coffee. a) Calculate the price of one unit of each good in each month.b) Using August as base month, calculate the CPI for each month.c) Find the inflation rate for September and October.
- A changing-basket price index (Passche index) like the GDP deflator tends to:a. underestimate the change in the cost of living because it does not take into account that people can substitute less-expensive goods for ones that become more expensive.b. overestimate the change in the cost of living because the continual introduction of new goods makes consumers better off even if prices do not fall.c. underestimate the change in the cost of living because it does not reflect the reduction in consumers’ welfare that may result from the substitutions of less expensive goods for more expensive ones.d. overestimate the change in the cost of living because it takes into account that people can substitute less expensive goods for more expensive ones.Pls help with below homework. Define goods and services market, labor market, and money market. Also explain relationship between them.State whether the following statements are true or false, then explain.(a) Buying a Japanese-brand vehicle that was made in Texas would harm the U.S. GDP.(b) Ken is not a U.S. citizen but teaches at the University of Chicago. The salary of his servicecannot be counted towards the U.S. GDP.(c) A $20,000 car was produced and sold to a car dealer in 2019, but it was sold to final consumerin 2020 for $20,000 – then $20,000 is counted to the GDP of 2020.
- Using those figures, fill in the following table, making sure to round your responses to the nearest U.S. dollar.YearGolferNominal WinningsU.S. CPIWinnings in 2021 Dollars(Dollars)(1983 = 100)1945 Byron Nelson 63,336 18 1972 Jack Nicklaus 320,542 41.8 1982 Craig Stadler 446,462 96.5 2021 John Rahm 7,705,933 264.7 7,705,933Identify each of the following as nominal or real variables.a. the physical output of goods and servicesb. the overall price levelc. the dollar price of applesd. the price of apples relative to the price of orangese. the unemployment ratef. the amount that shows up on your paycheck after taxesg. the amount of goods you can purchase with the wage you get each hourh. the taxes that you pay the governmentPrice of petrol was Rs. 60 per litre in 2015 and Rs. 100 per litre in 2021. The average wage in manufacturing was Rs. 240 per hour in 2015 and 300 in 2021. a. Did workers’ purchasing power in terms of petrol rise or fall?
- Year 2000 2010 Price of an automobile $40, 000 $50, 000 Price of a loaf bread $20 $30 Number of ao=utomobiles produced 100 cars 120 cars Number of loaves of bread produced 600,000 loaves 500, 000 loaves Using the table above calculate: how much have prices risen between the year 2000 and 2010 and comapre the answer given by Laspeyres and Passche price indicesThe following are two sets of retail prices of a family’s shopping basket. The data pertain to retail pricesduring 2014 and 2015.CommodityUnit Price (Rs)2014 2015Shirt 350 400Trouser 450 550Jacket 1200 1500Shoes 1800 2200Watch 1100 1700a. Calculate the simple price index for 2015 using 2014 as the base year.b. Calculate the simple aggregate price index for 2015 using 2014 as the base year.A company produces children's toys. The manager noticed the connection between the number of employed workers and the quantity of toys produced per month, which are presented in the table of following: a) Në cilën periudhë po operon kjo firmë? Pse?b) Sa është produkti mesatar kur janë të punësuar 5 punëtorë?c) Sa është produkti marxhinal kur janë të punësuar 7 punëtorë? Çfarë nënkupton kjo vlerë?d) A vepron ligji i të ardhurave marxhinale rënëse? Nëse po te cili punëtor?e) Në këtë funksion prodhimi a kemi të ardhura totale rënëse? Nëse po, te cili punëtor ndodh?f) Paraqisni grafikisht lakoret e produktit total (TP), produktit marxhinal (MP) dhe produktitmesatar (AP). No. of workers Quantities of toys 0 0 1 300 2 700 3 1200 4 1800 5 2200 6 2400 7 2400 8 2200 a) In what period is this firm operating? Why? b) What is the average product when 5 workers are employed? c) What is the marginal product when 7 workers are employed? What does this value…
