1. Suppose the government mandates a 3-year licensure for contractors and bans working on your own house. Draw a supply and demand diagram indicating the shift in the market for contracting services, and explain what happens to equilibrium price and quantity.

Q: In situations of exces demand, sellers might lower quality when they are unable to raise prices beca...

A: In a market, excess demand refers to the situation when there is more demand for goods and services ...

Q: how does public opinion impact our society and our political system? (American government 101)

A: By its actual nature, the majority rule process prods residents to shape opinions on various issues....

Q: a) consider the following IS–LM model: C = c1(Y - T) I = b1Y - b2i M/P = d1Y - d2i Solve for equ...

A: Investment is negatively related to the interest rate. The rise in the interest rate causes the fall...

Q: Classify the following costs as explicit or implicit. Explain your answer ABC Company spent $1000 fo...

A: Explicit cost :- Those cost which is actually incurred by the organization is called explicit cost. ...

Q: A country that experiences a capital account surplus for many years will eventually experience many ...

A: Since you have asked multiple questions, we will answer the first question for you. If you want any ...

Q: explain the reason why, the more developed a country is, the bigger business sector engaged in servi...

A: Concepts: 1)A developed country is an economy that enjoys a higher level of income and a better sta...

Q: The maintenance cost of a new equipment is projected to start at the end of the 2nd year at an amoun...

A: Given Interest rate = 8 % End of 2nd year amount = 8000 P End of 6th year amount = 10000 P Therefore...

Q: Which shock can the Fed deal with most effectively? a shock to the LRAS curve a major oil shock a sh...

A:

Q: What are the options to combat adverse selection in Bismark systems? Choose all that apply. Restrict...

A: In a market, adverse selection refers to the situation when people have unequal information before m...

Q: Money cost and the real cost don't coincide"? Comment on this statement

A:

Q: If the marginal revenue is 45 and the marginal cost is 45 also. What can you say about the firm's pr...

A: Profit maximization is the process through which corporations and organizations devise methods to in...

Q: "Implicitly, because of his work, the wealthy are viewed as more deserving of resources" Mill Malthu...

A: Note: We will answer the first question as the exact one was not specified. Please resubmit the ques...

Q: Please show in two side by side graphs the connection between the multiplier and the AE curve (aggre...

A: Aggregate expenditure is teh total demand or summation of consumption , investment , government spen...

Q: In Bismarck systems, patients are charged premiums based on their risk rating. True False

A: The Bismarck Model is a limited health-care system in which patients pay a fee to a fund, which then...

Q: The government is considering an increase in the tax on gasoline. They know that the price elasticit...

A: Elasticity of demand: It can be defined as a measurement of the change in the quantity demanded of a...

Q: Does Smith think these new low skill jobs created by the Industrial Revolution will be good for soci...

A: Smith believes that the Industrial Revolution's introduction of low-skilled occupations will benefit...

Q: Please discuss the concept of the Balance of Payment account. Further, discuss the three components ...

A: BOP keeps track of all transactions that affect a currency's demand and supply. . Assess a country's...

Q: Assume throughout that an individual's demand curve for doctors visits is represented by Q = 50 – P....

A: Market refers to the place where the buyers and sellers exchange goods and services in the market. I...

Q: For statistically estimated demand function for the commodity X, 1547 p0.2 p0.3 A0.4 p0.5 g0.3 D. X,...

A: Related goods: Two goods can be either substitutes or complements.  Substitute goods Two goods are s...

Q: Assume that we have a fixed supply of a depletable resource to allocate between two periods. Assume ...

A: In economics, the marginal cost is the change in the total cost that arises when the quantity produc...

Q: Explain all three Circular flow economic models in one structure.  ?

A: An economic model is a simplified depiction of reality that enables economic action to be observed, ...

Q: 2) The first cost of a machine is $60,000. The machine's end of year salvage value over the next fiv...

A: PLEASE FIND THE ANSWER BELOW.

Q: A firm has 60,000 shares whose current price is $62.57. These shareholders expect a return of 14%. T...

A: Total shares = 60,000 Price of share = $62.57 Return = 14% The firm has a 3-year loan of $1,900,000 ...

Q: A toy manufacturer's cost for producing q units of a game is given by C(a) - 1450 +3.6g+ 0.0006g. If...

A: p=8.6-1440qTR=pq    =(8.6-1440q)q    =8.6q-0.002q2MR=8.6-0.002qc=1450+3.6q+0.0006q2MC=3.6+0.0012qπ=T...

Q: a=$250b, I=$500b, G= $350b, MPC=80%; Calculate: the multiplier the equilibrium level of income

A: The multiplier value depends on the value of the marginal propensity to consume. Higher the MPC, hig...

Q: If a process is in control, there is no natural variations in that process. True False

A:  When the process is in statistical control then it is said that the process is in control. In the p...

Q: Consider the Swan-Solow model of economic growth.   [Hint: Question (e) below goes beyond the subjec...

A: Market analysts by and large concur that economic turn of events and growth are influenced by four e...

Q: Mention some of the important advantages and disadvantages of the small scale production?

A:

Q: 1. Suppose that the economy can be described by the following equations: C = 400 + (8/9)*DI I= 300 G...

A: Given information C= 400+(8/9)*DI I=300 G=800 T-1/2*Y X-M=0  

Q: (True or False and explain) Consider a dual currency regime featuring Red and Blue Money. Let the di...

A: A dual exchange rate is a system in which a government establishes a fixed official exchange rate fo...

Q: 2. Imports and Exports Now we allow for international trade. Use the following information from prob...

A: Given; C=400+89DII= 300G=800T=12YExport; X=300Import; M=19Y At equilibrium:- Y=C+I+G+NXY=400+89(Y-T)...

Q: what does Adam Smith mean by “self-regulating

A: Adam Smith in his book called "The Wealth of Nation" published in 1776 has described the "self-regul...

Q: Which is NOT needed for the Fed to design and implement effective monetary policy to reduce the seve...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: One In the market for sugar, there has been a discovery of a new technology for more production of t...

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at ...

Q: Fill in the blanks using the number that corresponds to the corect word or phrase in the word bank 1...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: If Canada borrows more from the foreign countries than it lends to the foreign countries, then Canad...

A: here we find the correct answer as follow;

Q: For a given level of national income, a decrease in private consumption or government and the flow o...

A: The Solow Model of economic growth or the neo classical model of growth This model is also known as ...

Q: Question Three In the market for Corn kenkey (INFERIOR GOOD), consumers’ income has decreased. In th...

A: Here, it is given that Corn Kenkey is an inferior good and there is a change in consumer income as w...

Q: The following organization was established in 1953 by Garry Davis and distributed world passports to...

A: World government of world citizens: It provides the opportunity to travel worldwide by providing a p...

Q: 2. May purchased a new mobile phone and paid ₱10,000. This means that her marginal utility from this...

A: In a market, marginal utility refers to the amount of satisfaction gained by a consumer when he cons...

Q: Discuss the role of the full cost prising principle and profit maximization in modern economic trend...

A:

Q: 2. Consider the four-player game in Figure 2 Figure 2 b, b. as as b, 4 3. 1. 2 4 2. d, d, 1. 5 4 Fin...

A: Given game

Q: The White Swan Talc Company paid $120,000 for mining equipment for a small talc mine. The mining eng...

A: Under the SYD technique, the depreciation rate for every year is determined as the number of years i...

Q: The Solow model with population growth predicts that_____ a. total income and total capital grow at...

A: The Solow model is an economic growth model that examines the change in the output level in an econo...

Q: What is your opinion of the idea that people have the potential to overcome difficult adversity?

A: People have the potential to overcome difficult adversity. By facing difficult adversity, the charac...

Q: Description Throughout this Quiz, we will consider of an industry with either one or two firms in it...

A: Considering both firms to be profit maximizing: IN case of bertrand competition where firms charge p...

Q: Show the effect of diminishing returns on the marginal and average cost curves of a firm in the shor...

A: diminishing returns is a  financial regulation expressing assuming one contribution to the developme...

Q: What sampling technique is used?   In a research class of 40 students, the teacher divides the cla...

A: Sampling is the process of selecting a specific number of observations from a larger population. The...

Q: Suppose rules of the scenario change such that Village1 and Village2 are having a conflict on the ow...

A: Given,  Two Players : Village 1 and Village 2Both Villages have Two Strategies : Not to Battle and T...

Q: Imagine that I wanted to test the proposition that people think older politicians are more trustwort...

A: Ans- Imagine that I wanted to test the proposition that people think older politicians are more trus...