13. Suppose the economy is in a long-run equilibrium. a. Use the AD-AS model to graphically depict the current state of the economy. b. Use the graph in part (a) to describe the change the economy will go through if technological progress leads to higher productivity. What happens to the equilibrium aggregate price and equilibrium output? c. After the change in part (b), is the economy still in a long-run equilibrium? Why or why not?

Q: Required: a) calculate how many units of good A will be imported by the country? b) Calculate the…

A: Answer -  "Thank you for submitting the questions.But, we are authorized to solve only 3 sub parts…

Q: the development of a black market. the limitation of the volume of transactions. favoritism.

A: A scalper, with regards to showcase supply-demand hypothesis, likewise alludes to a huge amounts of…

Q: Two players play the Ultimatum Game, in which they are to split $20.  A purely rational agent would…

A: Introduction Two players player an ultimatum game, one player is proposer and another is responder.…

Q: •TO WHAT EXTENT DOES GLOBALIZATION LEAD TO PROSPERITY FOR ALL?"

A: When talking about prosperity for all, one is trying to capture the positive side of the…

Q: Use calculations to examine the alternatives available to Assiniboine Narrows. Then, based on your…

A: Mortality rate, or death rate, is a degree of the range of deaths (in general, or because of a…

Q: 8. Refer to the T-account below for the following questions. Assets Liabilities Loans $32,000…

A: Here, the given T-account shows information about deposits, loans, required reserves and excess…

Q: 2. Changes in taxes The following graph shows the aggregate-demand curve. Shift the aggregate-demand…

A: The aggregate demand curve addresses the all out amount of all labor and products requested by the…

Q: There is much evidence that large firms with considerable market power (firms such as monopolies)…

A: producer equilibrium is the situation where firm produces the efficient level of output that…

Q: The government needs to pay out 350 billion dollars more in Social Security benefits than it…

A: Government Revenue Government revenues are the earnings of the nation or government which are…

Q: 12 Inflationary expectations in the economy increase rapidly, evoking a much stronger response from…

A: A bond is a loan-like investment. Institutions and governments that need to borrow money generally…

Q: Suppose Sam is willing to pay A total of 280,000 for an apartment. True or false: keep his maximum…

A: The maximum price or price range that an individual is ready to pay for purchasing a good or service…

Q: 2015 US Dollar GDP per capita (constant 2015 USD) 1960 1970 1980 2000 1990 Time(Year) Australia…

A: GDP per capita is a per capita income which is the ratio of country's gross domestic income and…

Q: Selim has no income in period 1 (consumption now) and an income of 1800₺ in period 2 (consumption…

A: here we calculate the maximum amount the Salim can borrow in period 1 by the following method as…

Q: How did you get P* and Q*? What is the solution?

A: Equilibrium in the market occurs at such a price where demand is equal to supply.

Q: SummerFun, Inc. produces a variety of recreation and leisure products. The production manager has…

A: A thorough overview of a company's policies, objectives, and activities may be characterized as a…

Q: Alicia consumes goods X and Y. At her current consumption bundle, Alicia's marginal utility of the…

A: Marginal utility is the utility derived from the consumption of one more additional unit

Q: Consider the following extensive-form game under perfect information: pl/1 R pl/2 pl/2 (4,2,2)…

A: We have sequential move game for 3 players. Where player 1 moves first, then player 2 moves and in…

Q: Assume the economy starts at full-employment. There is a global pandemic. Which of the following…

A: Pandemic refers to the situation when people face a significant downturn in economic activities at…

Q: Question 19 ISO 9000 defines a set of internationally accepted standards for product quality. Thus,…

A: In the international market, ISO 9000 refers to an entity that is used to make rules and regulations…

Q: Figure 1. The PPFs of Nation 1 and Nation 2 Nation 1 Nation 2 Corn Corn Tons) B' B Bananas (tons)…

A: Here, two graphs are given to show the production possibilities in two Nations with two goods, corn…

Q: The difference between the gross public debt and the net public debt is that the a. gross public…

A: Public debt: - Public debt is that situation in which government expenditure exceeds government…

Q: Demand management policies do not matter for growth in the long run as long as there is productivity…

A: Demand Management policy  The fiscal and monetary policy controls are referred to as the…

Q: A large city in mid-west needs to buy a street-cleaning machine. A used vehicle will cost $75000 and…

A: Two other options: Used vehicle and new framework Doing the current worth examination to think about…

Q: The difference between the gross public debt and the net public debt is that the a. gross public…

A: Gross government obligation indicates all gathered outer monetary commitments. State run…

Q: The goods is not considered in transit under the following cases, except:

A: 1st option - incorrect  If the buyer or his agent obtains possession at a point before the…

Q: (a) Draw a series of budget lines and indifference curves tangent to these budget illustrating ₁ as…

A: An inferior good is defined as a good whose consumption decreases with a rise in income and vice…

Q: Bonus: A monopolist sells output at zero cost to two types of consumers, H and L, whose inverse…

A: The demand curve shows the inverse relationship between price and quantity demanded. The demand…

Q: A new office building has been constructed at a cost of $3,000,000. It is estimated to have a life…

A: The equivalent annual cost (EAC) is the yearly value of owning, operating, and retaining an asset…

Q: Table 1: Items for GDP Calculation. Item Billions of Dollars 250 Government expenditure on goods and…

A: Unemployment refers to a situation whereby a person who is willing to work isn't able to find any…

Q: Question 3 COUNTRY COFFEE TEA Jamaica 10 5 United States of America 50 20 A. Which country has the…

A: Comparative advantage occurs when a country is able to produce at a lower opportunity cost compared…

Q: Styles 5) Use the table below to answer the following questions. Table 2 Taco Stans Pizza Sellers…

A: The measure that depicts the way in which markets are differentiated and classified on the basis of…

Q: What happens if the government sets a minimum wage in a monopsony labor market? The marginal factor…

A: A monopsony refers to a market where there is only one buyer. The market is called an oligopsony…

Q: What is dumping?

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: Question 2 You are the manager of medium-sized company that produces a particular kind of alcoholic…

A: A deliver and call for graph has two curves, one representing deliver and the other representing…

Q: 1. Any point inside the PPF is considered a. Productive b. inefficient c. unattainable d. efficient…

A: The measure that depicts various combinations of goods that could be produced using the given…

Q: 7. What price should you charge to maximize profit? How much profit would this product generate in a…

A: Profit maximization is essential for a company's existence and growth. Wealth Maximization, on the…

Q: what do you know about the current needs of the Indonesian people for cooperatives

A: Indonesia is one of the Southeast Asia's largest economy and the world's fourth most populous…

Q: why raise in a minimum wage of a workers is better than raise of the minimum wage to 15$

A: In the United States, for more than a decade, there hasn't been a significant increase in the…

Q: What is the proponsity to consumption function? explain with formulae of average propensity to…

A: The consumption function is relationship between the consumption and income level.

Q: For the three-part question that follows, provide your answer to each question in the given…

A: Savings is the practice of putting aside a portion of one's current income for future use, or the…

Q: What are the implications of labor disaggregation and capital disaggregation to developing countries…

A: Answer -

Q: The price elasticity of demand for lychee fruit is 1.3, while the price elasticity of supply is 0.7.…

A: Here, price elasticity of demand is given as 1.3 and price elasticity of supply is given as 0.7.…

Q: A. Define marginal revenue and marginal cost.

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: 7. Using the income elasticity of demand to characterize goods Data collected from the economy of…

A: Both the answer is given in step 2

Q: F. (i) (ii) (iii) (iv) Distinguish between Intermediate goods and final goods Stock and flow…

A: Introduction We have given some macroeconomic terms.  1 Final goods vs intermediate goods: Final…

Q: Discuss any three factors that determine Interest Rates?

A: Interest rate is the rate at which the money is traded . Money is like a normal goods an interest…

Q: Moral hazard problems associated with debt financing, such as issuing bonds, can be reduced but not…

A: Bonds are collateralized devices of investment-grade company debt which might be traded as assets.A…

Q: Consider the labour availability and quantities of labour that each country requires, in a Ricardian…

A: Answer: Let us first calculate opportunity cost to find out which country has the comparative…

Q: National Powers ? Which power best completes this diagram? A. Create courts B. Declare war C.…

A: The ability of businesses, countries, or individuals to improve their standard of living in the…

Q: explain the implications of the aspect you chose for public management? public financing and…

A: Public finance is the method of managing the public funds in the country’s economy that recreates…