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- Assume that output began at its natural level. By drawing using AD-AS (Upward sloping) and Philips curves (graphs), analyze the short and long-run effects for these solutions. The evolution of technological advancement brings about a great impact on the economy (5 marks)Give an example of a concept learned in this course that you think may be associated with weak macroeconomic performance . the list of concepts we learned so far is below Explain why this is case. Use real-world examples and explanations. lists of concepts learned so far Describe economics and the economic way of thinking. Identify the components of an economic theory. Define scarcity. Explain opportunity cost and the rationale for choice. Define a market and competitive markets. Describe demand and the concept of demand, individual demand and the demand curve. Explain a change in demand versus a change in quantity demanded. Define supply and the concept of supply. Describe a change in supply versus change in quantity supplied. Illustrate and explain and illustrate how markets reach equilibrium price and quantity.Explain briefly what will happen to the performance of companies in the light of fears that the global economymight get into a recession
- Give an example of a concept you think may be associated with strong macroeconomic performance. Explain why this is the case. Use real-world examples and explanations. concepts lists - economics and the economic way to thinking - economic theory - scarcity -opputunity cost - market and competitive markts -supply -how markets reach equilibrium price and quantityQuestion 01 Due to COVID-19 situations the oil prices fall in international market. Let’s assume that output starts at its natural level. What happens to the country A's economy (output and price) in the short run? Explain your answer using AS-AD graphs.Give an example of a concept you think may be associated with weak macroeconomic performance. Explain why this is the case. Use real-world examples and explanations. concepts lists - economics and the economic way to thinking - economic theory - scarcity -opputunity cost - market and competitive markts -supply -how markets reach equilibrium price and quantity
- Give an example of a concept learned in this course that you think may be associated with strong macroeconomic performance. the list below is what we learned so far. Explain why this is the case. Use real-world examples and explanations. lists of concepts we learned: Describe economics and the economic way of thinking. Identify the components of an economic theory. Define scarcity. Explain opportunity cost and the rationale for choice. Define a market and competitive markets. Describe demand and the concept of demand, individual demand and the demand curve. Explain a change in demand versus a change in quantity demanded. Define supply and the concept of supply. Describe a change in supply versus change in quantity supplied. Illustrate and explain and illustrate how markets reach equilibrium price and quantity.Given the Aggregate demand function of US AD= 5000 + 0.7Yd. Interpret this equation and diagramatically express the equilibrium output.how can a firm mantain a smooth production schedule even when sales are fluctuating? what are the benefits of a smooth production schedule? what are the costs?
- Please help: INCLUDE DIAGRAMS Question: Problem ScenarioCovid-19 global economic pandemic has negatively affected economies as a whole at the global,national and regional levels. The novel effects of the fluidity of Covid-19 appears to continue tohave negative impacts on the macro business model as the global recession seems to be inevitable.You are working as a macroeconomist in economic affairs in your local country, and you are taskedwith analyzing the impact of Post-Covid-19 on the economy and you are required to prepare noteson what specific government policies can be implemented as a stimulus package to jump-start theeconomy savings and investment market. The team meeting will be held in 3 days from the dateof the assignment and because of limitation of time the Chief economist has given you thefollowing guidelines:(a) You are required to identify four (4) key…29) How many units of labor will the AquaPlant hire based on the figures from the table? 30) What is the economic concept associated with the decline in MPL as the number of labor units increase?11.3 The price of crude oil during the period 2000-2010 can be approximated by P(t) = 6t + 18 dollars per barrel (0 ≤ t ≤ 10) in year t, where t = 0 represents 2000. Russia's crude oil production over the same period can be approximated by Q(t) = −0.08t2 + 1.2t + 5.5 million barrels per day (0 ≤ t ≤ 10). † Use these models to estimate Russia's daily oil revenue and also its rate of change in 2007. (Round your answers to the nearest $1 million.) daily oil revenue$ millionrate of change in 2007$ million per year
