1. How is the preparation of a family budget an exercise in dealing with SCARCITY? What adjustments do you think you parents would make if your family income decreased by 25 percent?

Q: One of the WTO’s central rules prohibits members from raising tariffs above the “bound rates” agreed...

A: The bound tariff is the maximum Most Favoured Nation M-F-N tariff level for a given commodity line.

Q: 1. Assume a market with only two individuals, A and B. The demand of individual A is Q = 10 - P, and...

A: A pure public good is non-rivalrous and non-excludable in nature. Market demand for a pure public go...

Q: $6.00 $1.50 1 5.50 5.00 2 5.00 7.50 3 4.50 9.50 4 4.00 11.00 3.50 12.00 6. 3.00 12.50 7 2.50 13.50 8...

A: We must remember that the profit maximization occurs at the point where the marginal revenue and Mar...

Q: Total Product Unit of Labor Product Price $ 2.20 1. 15 2.0 2. 28 1.8e 39 1.60 4. 48 1.40 55 1.20 6 6...

A: A firm should keep hiring labor till the marginal revenue product is more than the marginal cost of ...

Q: Q TR TC MR MC S0 $10 1 $20 $15 $20 $5 $40 $25 $20 $10 3 $60 $40 $20 $15 4 $80 $60 $20 $20 5. $100 $8...

A: The producer will produce in order to maximise its profits. No producer will limit this goal. And th...

Q: Which of the following is NOT a type of financial market? Select one: a. Money and capital market...

A: Financial market Financial markets include any marketplace where securities are traded, such as the ...

Q: Questio When is a country said to move into a recession? a) If actual output falls below the potenti...

A: A recession is classified as a significant reduction in overall economic activity that lasts more th...

Q: a) Discuss the effect of a sterilized central bank purchase of foreign assets under the imperfect as...

A: a)

Q: Brandon purchased a car using a 5-year car lease at 5.80% compounded quarterly that required her to ...

A: Compound interest is basically the accumulated interest over the entire time period of the investmen...

Q: You are an accountant for a manufacturer of radios. The demand function for the tablets is P = 40 – ...

A: demand P = 40-4x² X number. of tablets produced in millions. Revenue R(x)= Px

Q: In the Heckscher-Ohlin model the factor that a country is abundant in will gain from trade, i.e. its...

A: The Heckscher-Ohlin model suggests that countries export what they are best at producing in economic...

Q: 2. What is the future equivalent of Php400000 invested at 3% simple interest per year for 514 years?

A: Introduction Principal amount = php 400000 Interest rate = 3% = 3/100 = 0.03 Time period = 514 = 5.2...

Q: Data for the break-even analysis (per month) Selling rice per unit PhP 1,000 Variable cost per unit ...

A: Units Variable cost Fixed cost Total cost Total sales revenue Profit 10 =600*A2 16000 =B2+C2 =1000...

Q: In the Heckscher-Ohlin model with trade the wage in a country that produces both goods will depend o...

A: Heckscher-Ohlin model  The Heckscher-Olin Model is an international trade equilibrium model based on...

Q: Consider two developed and developing countries, the population growth rate of developed countries i...

A: At steady state,capital per worker is constant, that is investment is breakeven investment 

Q: When a small country imposes a tariff on an imported good, domestic consumers bear of the statutory ...

A: In an economy, statutory burden refers to the tax that actually paid by the market participant, and ...

Q: Use the midpoint method for calculating all elasticity measures below   Suppose that the price of ...

A: Answer: Given, Short-run data: Percenatge change in price=10%Percenatge change in quantity supplied=...

Q: Calculate the Cross-Price Elasticity of the following goods and say whether they are compliment's or...

A: The cross-price elasticity of demand can be measured by the following formula mentioned below: Cross...

Q: Which of the following is most likely to operate under a perfectly competitive market? 1) A neighbor...

A: Perfect competition is a market condition there is a large number of buyers and sellers selling an i...

Q: Global outsourcing, is it good? because US business can take an advantage of cheaper foreign labors ...

A: Global outsourcing enables businesses to find partners in various parts of the world to carry out so...

Q: Which of the following macroeconomic variables is procyclical and leads the business cycle?

A: Economic indicators are generally three types:- 1 - Procyclical variable A variable can be said as p...

Q: Refer to the graph shown. Assume the market is initially in equilibrium at point b in the graph but ...

A: The welfare loss due to tax is also known as the deadweight loss and it is equal to the difference b...

Q: Identify and discuss the Technological environment of China. You are deciding to run a startup busin...

A:

Q: (A). What are the components of the trilemma that is encountered when a country chooses its monetary...

A: (A.)  The policy trilemma, which is also known as the impossible or inconsistent trinity, implies th...

Q: The US record-high gas prices previously occurred in July 2008, when the national average price per ...

A: 1.  Given the CPI of 2008 = 219.964 Current CPI = 283.716 Inflation = Current CPI - Previous CPIPrev...

Q: Which of the following best describes an expansionary monetary policy? * a. less spending b. decrea...

A: The best way to describe an expansionary monetary policy is the lower interest rate.  Lower interest...

Q: Two firms produce Bliffs. They compete by simultaneously choosing prices in a single period. The dem...

A: Given:- P(Q)=100-2Q C1(q1)=20q1 C2(q2)=10q2 Please find the images attached for detailed solution.

Q: For what purposes and how to appy the SPS Agreement?

A: SPS Agreement The "SPS Agreement" (Sanitary and Phytosanitary Measures) establish in January 1, 1995...

Q: Christ Embassy ICA CHORCHS Complete the fallowing coA schedules LoutPutioalcostlAverage coA Marginal...

A: Average cost is minimum at output 4 where AC = 20/4 = 5. MC is minimum at output 4 where MC = 2  

Q: You are trying to decide whether to use the GDP deflator or the CPI to calculate the inflation rate ...

A: The measure that depicts the value of goods and services being produced in an economy within a speci...

Q: Caffeine is a highly addictive drug found in coffee, tea, and some sodas. Unlike cigarettes, however...

A: The effectiveness of taxes on controlling consumption depends oñ the extension of demand or the expa...

Q: What was the ratio used for running economy in the study that tried to predict fastest possible huma...

A: Running economy Running economy (RE) is a metric that assesses how efficiently runners use their ene...

Q: In the most recent FOMC meeting, the Federal Reserve increased the Federal Funds rate. By doing this...

A:

Q: If the demand for beef is relatively price elastic, due in part to the availability of would expect ...

A: Given that the demand for beef is relatively price elastic. 

Q: Then, _____ in the long run.

A: Depreciation Rate : Capital depreciation rate is referred to as decline in value of capital assets. ...

Q: Explain Simple Loan considering Articles 1953 to 1955 and 1980

A: A simple loan, also known as a simple interest loan, is a loan with a low interest rate. It's a type...

Q: General questions Howshould the optimal price of carbon be set? Which alternative approaches are av...

A: Carbon pricing is an effective way to reduce global carbon emissions by assigning a monetary value t...

Q: An increase in the standard of living of citizens of a country can be best measured by the growth ra...

A: Per capita nominal GDP:-                            Nominal GDP per capita=Nominal GDPPopulation Nom...

Q: How do the economies of WTO Mer enefit from TBT and SPS Aoreements

A: WTO Members benefit from TBT and SPS Agreements,

Q: (Figure: The Market for Apple Computers in the United States) Use Figure: The Market for Apple Compu...

A: Surplus refers to excess of something. In economics, surplus is used in three ways: consumer surplus...

Q: Chinese economic growth is the outstanding feature of the world economic scene over the past two dec...

A: Introduction In 2018 US economy has $ 20.5 trillion and the economy grows at annual rate of 2.2% per...

Q: Refer to the graph shown. Assume the market is initially in equilibrium at point b in the graph but ...

A: As the supply curve shifts upward the equilibrium price now changes.

Q: 1 3 8. 7. 12 12 y 11 17 18 19 16 16 19 23 23 Ex^2 = Your answer Ey^2 = ΣΥ2 Your answer Σxy= - Your a...

A: X X2 Y Y2 XY 1 1 9 81 9 3 9 11 121 33 8 64 17 289 136 7 49 18 324 126 6 36 19 361 114 5 ...

Q: In bullet points, outline how the citizens of a foreign country benefit from the direct investment b...

A: When a company, business, individual, or organization in another country acquires controlling owners...

Q: If THV Plastics purchases a new building now for Php 1.3 million for its warehouse, what must the bu...

A:

Q: Which of the following is NOT a common criticism of rationing products? A. Rationing may lead to une...

A: The restrictions that are being set in place and being enforced by the government on prices that cou...

Q: 4) Suppose that we have the following data for Amazon operations in the US: Sales Cost of Goods $469...

A: "As per the guidelines, answer is given to the first question i.e. question number 4." "Gross Domest...

Q: Refer to the information provided in Table 6.3 below to answer the question(s) that follow. Table 6....

A: "Gross domestic product indicates the monetary value of the final commodities and services (those wh...

Q: Suppose that a person's yearly income is $60,000. Also suppose that this person's money demand funct...

A: Y=$60,000 Md= $Y(0.35-i) Interest rate= 15%  

Q: Name at least five products of the Philippine that is commonly exported for international use and ho...

A: Philippines exports a variety of goods These include Computers Electrical Equipment Fruits, nuts and...