2. A. B. C. D. Real wages would rise if the: Prices of goods and services rose more rapidly than nominal-wage rates Prices of goods and services rose less rapidly than nominal-wage rates Prices of goods and services and wage rates both rose Prices of goods and services and wage rates both fell
Q: Rawlding is a manufacturer in the oligopolistically competitive market for footballs. Two other…
A: An oligopoly refers to a market structure dominated by a small number of large firms or sellers that…
Q: 1. Suppose that the long-run real interest rate is 1% and the Fed has an inflation target of 2% (a)…
A: Nominal interest rate is one kind of interest which is levied on any kind of loan or investment. But…
Q: 15. In the equation of exchange, the letter "V" stands for a. variance. b. validity. c. volume. d.…
A: The equation of exchange, planned asM*V = P*Q is an essential idea in money related financial…
Q: To economists, the main difference between the short run and the long run is that: Question 17…
A: In economics, the short-run and long-run perspectives are typically used to analyse a corporation.…
Q: How much profit will this monopolist earn if it charges each consumer the same price?
A: In economics, the firm’s aim is assumed to be to maximize profits. Firms with market power do this…
Q: Each year the United States considers renewal of Most Favored Nation (MFN) trading status with…
A: Dominant strategy is the course of action that results in the highest payoff for a player regardless…
Q: Is it reasonable or does it make sense, that while US exports are added to GDP, US imports are…
A: The question is asking about the logic behind the treatment of exports and imports in the…
Q: marginal opose that a firm produces wool jackets in a monopolistically competitive market. The…
A: Average total cost refers to the per unit cost of the product.
Q: The table below sets out the demand and supply schedules for college meals. Price (dollars per meal)…
A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…
Q: Assume that health insurance is private in a country, and the market for insurance is competitive.…
A: Marginal social benefit refers to the satisfaction received by consumers of a good or service plus…
Q: O The demand curve for a product is given by Qo= 400-20P and the supply curve for a product is given…
A: Demand and supply are fundamental economic concepts that describe the relationship between the…
Q: Calculate the marginal revenue for the following: (a) i. ii. Total Revenue (Q) = 5Q³ + 3√√ 2 loge (1…
A: Marginal revenue (MR) represents the change in total revenue that results from selling one…
Q: The following graph shows the domestic market for steel in the United States, where Sp is the…
A: A tariff is a duty charged on imports of goods. A country imports a great deal of goods from other…
Q: Which of the following would be in GDP expenditure-based in the national income accounts for Canada?…
A: GDP basically refers to the total monetary value of all the final goods and services that a nation…
Q: Suppose that the population growth rate of a developing economy drops. Using carefully labeled…
A: Solow model of growth, or the Solow model is a model developed by Robert Solow in contrast with…
Q: Would a decrease in the wage rate (or some other short-run variable input price) shift down the…
A: Marginal Cost Curve: A graphical representation showing the additional cost incurred by producing…
Q: Suppose that the marginal social benefit of insurance exceeds the willingness and ability to pay by…
A: Marginal social benefit refers to the satisfaction received by consumers of a good or service plus…
Q: For an online retailer who is not able to offer low prices, what can the retailer do to boost its…
A: Strategy is a high-level plan that outlines the goals and objectives that an organization wants to…
Q: Considering all the bailout money the public has been made responsible for, is the existence of…
A: Bailout money:Bailout money is the money that is people's money and the government uses it for…
Q: A city centre tour guide currently charges $27 for a full day's tour. The average number of…
A: Price = $27 Daily customers = 32 Fall in customers for $1 price increase = 3
Q: How might a thriving entrepreneurial sector have a positive impact on the trade balance?
A: Trade balance refers to the numerical difference between a nation's exports and imports, reflecting…
Q: Government officials must decide how to reduce the amount of Magentum being adulterated in the…
A: Government officials must decide how to reduce the amount of Magentum being adulterated in the…
Q: B. In 1651 the British established a colony in present day Suriname. In 1667, the British and the…
A: Economic analysis is the methodical way to deal with determining the optimum utilization of scarce…
Q: Consider a consumer with a medical bill of $1,000. He has a $250 deductible and a 20 percent…
A: A consumer has a medical bill of $1000 and has a deductible of $250. The co-insurance rate is 20…
Q: Consider two uncertain outcomes W₁ and W₂, each of which has a 50% probability of occurring. The…
A: Expected utility, as the name suggests is the sum of all expected or predicted values multiplied by…
Q: The firm can use two inputs, L and K. The price of L= 20 and price of K = 30. Total cost- 300. As…
A: An isocost line represents all combinations of two inputs (in this case labor, and capital) that…
Q: Consider a chemical plant that discharges toxic fumes over a nearby community. To reduce the…
A: Abatement cost is the cost of reducing pollution. Marginal abatement cost is the cost of reducing…
Q: Assume that health insurance is private in a country, and the market for insurance is competitive.…
A: Marginal social benefit refers to the satisfaction received by consumers of a good or service plus…
Q: Can
A: The provided image outlines a model of a household's decision-making regarding consumption and…
Q: Assume that health insurance is private in a country, and the market for insurance is competitive.…
A: The market equilibrium quantity is where the private marginal benefit curve intersects the private…
Q: 1) In the table below, C is consumption expenditure, I is investment, G is government expenditure,…
A: Aggregate expenditure is the total consumption of final goods during an accounting year. AE = C + I…
Q: kindly explain Which of the following is a common characteristic of a country in Africa?A. High…
A: The question is asking to identify a common characteristic of a country in Africa from the given…
Q: Which of the following is NOT a macroeconomic topic?A. National GDP trendsB. The increase in…
A: The objective of the question is to identify which of the given topics does not fall under the…
Q: (a) output (Q): (1) € integral for the following marginal MR = f(Q) = Q³-50² + √Q MR = f(Q) = (Q+1)²…
A: Since you have posted two independent questions, according to the guidelines, only the first…
Q: only four goods and services: shoes, hamburgers, shirts, and cotton. Assume that 70% of cotton is…
A: Gross Domestic Product (GDP) measures the money value of all final goods and services produced in an…
Q: Starting from the Short Run Equilibrium shown on your 1st diagram (2020), show graphicallyhow the…
A: In terms of its potential to ease economic downturns through government involvement, Keynesianism…
Q: Premium (thousands of dollars per year a $80 million. $160 billion. $80 billion. $160 million. K 12…
A: Introduction:To determine the taxpayer contribution to public health insurance, we will use a…
Q: When a monopolist increases the amount of output that it produces and sells, average revenue…
A: The objective of the question is to understand the behavior of average revenue and marginal revenue…
Q: If a monopoly faces an inverse demand curve of p=330-Q, has a constant marginal and average cost of…
A: Perfect price discrimination is the practice of charging every individual customer the maximum…
Q: The bullwhip effect O Distorts demand upstream in the supply chain due to variance in orders Causes…
A: Supply chain management (SCM) is the process of planning, organizing, and controlling the flow of…
Q: The table below gives the cost of production for a typical firm in a perfectly competitive industry.…
A: In perfect competition, There exists a large number of buyers and sellers. The firm will produce…
Q: The diagram at right shows the demand curve, marginal revenue curve, and cost curves for a…
A: Price discrimination in a monopoly means the practice of charging different prices to different…
Q: a. What is player 1's optimal strategy? Strategy B Strategy A Player 1 does not have an optimal…
A: In a one shot simultaneous game, any of the two player can start his move first and then the otger…
Q: The value of the Russian Ruble changed from 94 to the dollar to 91 to the dollar. What is the likely…
A: The foreign exchange market, frequently shortened as the Forex or FX market, is a worldwide…
Q: Scenario 21-3 Scott knows that he will ultimately face retirement. Assume that Scott will experience…
A: Saving alludes to the demonstration of setting to the side a part of one's income or resources for…
Q: Using Okun's law, fill in the four pieces of missing data in the table below. All of the following…
A: Disclaimer- “Since you have asked multiple question, we will solve the first three question for you…
Q: Question 3 In March 2023, imports for the US exceeded their exports by $60.6 billion. In June 2023,…
A: The buyers and sellers exchange goods in the international borders is known as international trade.…
Q: assist please Which of the following statements best exemplifies the concept of relative advantage…
A: The objective of the question is to identify which statement best represents the concept of relative…
Q: Consider the following model of a monopolistic form, where P is the sale price of the good, MC is…
A: The profit will be calculated as the difference between the revenue received from sales and the…
Q: A machine used to shread cardboard boxes for composting has a first cost of $10,000, an AOC of $7000…
A: The estimated value of an asset near the end of its useful life that allows it to be resold is known…
Economic Questions 2, 3, and 4
What is the correct answers for these three econ questions?
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
- Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the CPI to convert from nominal to real would be more appropriate man using the GDP deflate:If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
- How has the real federal minimum wage rate changed? The real federal minimum wage rate _____. A. was higher in 2009 than it was in 1968 B. was lower in 2009 than it was in 1968 C. increases every year. D. decreases every yearComputing labor force statistics: Adult population of the U.S. by group, 2019 # of employed 151.1 million # of unemployed 7.8 million not in labor force 94.5 million 1. Based on the above table, compute the labor force, u-rate, adult population, and labor force participation rate. Evaluating “U” measure: 2. In each of the following, what happens to the u-rate? Does the u-rate give an accurate impression of what’s happening in the labor market? A. Sue lost her job and begins looking for a new one. B. Jon, a steelworker who has been out of work since his mill closed last year, becomes discouraged and gives up looking for work. C. Sam, the sole earner in his family of 5, just lost his $80,000 job as a research scientist. Immediately, he takes a part-time job at McDonald’s until he can find another job in his field. Natural unemployment: 3. In each of the following scenarios, which type of unemployment would change (if any) and in what direction? Which of these scenarios would be most…Assess whether the following would be countedas “unemployed” in the Current Employment Statisticssurvey.a. A husband willingly stays home with childrenwhile his wife works.b. A manufacturing worker whose factory justclosed down.c. A college student doing an unpaid summerinternship.d. A retiree.e. Someone who has been out of work for two yearsbut keeps looking for a job.f. Someone who has been out of work for twomonths but isn’t looking for a job.g. Someone who hates her present job and isactively looking for another one.h. Someone who decides to take a part time jobbecause she could not find a full time position.
- What is labor force a- the toal employment divided by the total number of unemployment b- the total number of employment c- the sum of emplou]\yment and uneemployment d- the sum of employment minus the sum of unemploymentAssess whether the following would be counted as “unemployed” in the Current Employment Statistics survey. a. A husband willingly stays home with children while his wife works. b. A manufacturing worker whose factory just closed down. c. A college student doing an unpaid summer internship. d. A retiree. e. Someonewhohasbeenoutofworkfortwoyears but keeps looking for a job. f. Someone who has been out of work for two months but isn’t looking for a job. g. Someone who hates her present job and is actively looking for another one. h. Someone who decides to take a part time job because she could not find a full time position.The last decade was free of recessions and from the opening bell in January 2010 to the closing bell in December 2019, the Dow Jones Industrial Average and S&P 500 soared 173.60% and 189.35%, respectively. The Gross Domestic Product increased from $14.992 trillion to $21.433 trillion. Yet during that same period, the labor force participation rate actually declined. So, how could it drop when the economy was booming and labor force participation ages 65 and over. The oldest baby boomers were 64 in 2010 and 73 in 2019. As they aged, a large segment of the population shifted into 65 and older age groups. Because older Americans are less Likely than younger ones to be in the labor force, this demographic shift reduced the overall labor force participation rate. According to this, which of the following statements best explain the labor participation change? Hint: Use the labor Force Participation Formula A. The labor force participation rate grew in every age category because…
- The last decade was free of recessions and from the opening bell in January 2010 to the closing bell in December 2019, the Dow Jones Industrial Average and S&P 500 soared 173.60% and 189.35%, respectively. The Gross Domestic Product increased from $14.992 trillion to $21.433 trillion. Yet during that same period, the labor force participation rate actually declined. So, how could it drop when the economy was booming and labor force participation ages 65 and over. The oldest baby boomers were 64 in 2010 and 73 in 2019. As they aged, a large segment of the population shifted into 65 and older age groups. Because older Americans are less Likely than younger ones to be in the labor force, this demographic shift reduced the overall labor force participation rate. According to this, which of the following statements best explain the labor participation change? Hint: Use the labor Force Participation Formula A. The labor force participation rate grew in every age category because baby…Consider an economy with 500 people in the labor force. At the beginning of every month, 5 people losetheir jobs and remain unemployed for exactly one month; one month later, they find new jobs andbecome employed. In addition, on January 1 of each year, 20 people lose their jobs and remainunemployed for six months before finding new jobs. Finally, on July 1 of each year, 20 people lose theirjobs and remain unemployed for 6 months before finding new jobs.1. What is the unemployment rate in this economy in a typical month?2. What fraction of unemployment spells lasts for one month? What fraction lasts for six months?3. What is the average duration of completed spell of unemployment?4. On a particular date, what fraction of the unemployed are suffering a long spell (six months) ofunemployment? plz solve part 4 ? Thanks.Question 1Evaluate how each of the following individuals would be affected by unanticipated inflation:a) A department store clerkb) A heavily indebted farmerc) A private pensionerQuestion 2a) What is the Consumer Price Index (CPI)?b) Consider an economy that produces and consumes shoes and houses. In thetable below are data for two different users.Year2000Year2001 Price of a house $120,000 $145,000Price of a pair of shoes $150 $170Number of houses produced 1,000 1,050Number of pairs of shoes 650,000 525,000(i) Calculate the CPI for both years.(ii) Calculate the rate of inflation for 2001 using the CPI.(iii) Calculate the GDP deflator for both years.(iv) Calculate the rate of inflation for 2001 using the GDP…