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- 17 Debbie makes porcelain plates in her home and sells them to the Opus gallery. She spent $400 last month on supplies and made 50 plates. She sold the plates to the gallery at $25 per plate. The gallery sells all the plates for $40 each. For all of the 50 plates, what is Debbie's total value added? For all the 50 plates, what is the gallery's total value added?(1) Recent measurements have shown a significant deterioration in the quality of the Scottish seaside. Which of the following statements are compatible with this observation? A. The real value of GDP has increasedB. The real value of GDP remains the same C. North Sea oil wells have dried upD. The price of swimming costumes has gone down (2) The impact of Covid-19 on happiness is negative because A. it decreased economic activityB. it coincided with BrexitC. it forced social isolationD. it obliged people to develop new Information Technology skills(i) A is correct(ii) A and B are correct(iii) A and C are correct(iv) All of the above are correct3. Compute the percentage increase in prices from 2004 to 2005.a. 0 percentb. 13 percentc. 16 percentd. 22 percent *base year is 2003
- Subject: microeconomics Question: when MRTS is equals to 1, is it a. L=K b. L>K c. L<K** please include explanation. Thanks.Assume that GBP|USD = 2.00 (rate chosen for math ease). After the passage of a significant tax increase in the United States, the United States stock market is expected to drop significantly over the next month while the British stock market is expected to show steady growth. As a result which of following is most likely in a graph of the currency market with GBP per USD (original equilibrium is USD|GPB = 0.50) on the vertical axis (quantity of USD on horizontal axis)? Drawing a diagram would be useful. A. The supply curve would shift left and the new price would be greater than 0.50. B. The supply curve would shift right and the new price would be greater than 0.50. C. The supply curve would shift left and the new price would be less than 0.50. D. The supply curve would shift right and the new price would be less than 0.50.Pls help with below homework. Define goods and services market, labor market, and money market. Also explain relationship between them.
- Table 1 Production Function and Demand for Labor Schedules Quantity of labor demanded (billions of hours per year) 0 2 4 Real GDP (billions of 2009 dollars) 00 105105 150150 Real wage rate (2009 dollars per hour) 7575 4545 1515 Table 2 Supply of Labor Schedule Quantity of labor supplied (billions of hours per year) 0 2 4 Real wage rate (2009 dollars per hour) 1515 4545 7575 Use the information in the schedules above to draw this economy's production function. Label it. Draw a point to show equilibrium employment and potential GDP. At the full-employment quantity of labor, the real wage rate is $nothing an hour.Table 22.4 shows the fruit prices that the typing college student purchased from 2001 to 2004. What is the amount spent each year on the basket of fruit with the quantities shown in column 2?5. Calculating changes in price level Quantity in Basket 2006 2007 2008 Price Cost of Basket Price Cost of Basket Price Cost of Basket Notebooks 15 $2 $30 $5 $75 $8 $120 Calculators 1 $70 $70 $100 $100 $130 $130 Large coffees 250 $2 $500 $2 $500 $2 $500 Highly caffeinated colas 50 $2 $100 $4 $200 $6 $300 Textbooks 10 $120 $1,200 $150 $1500 $180 $1800 Total cost $1,900 $2,375 $2,850 Price index The total cost of a market basket of goods increased by % from 2006 to 2007, and by % from 2006 to 2008. Use this information to determine the value of the price index in each year (using 2006 as the base year) and enter these values into the preceding table. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- 6. Average nominal wages are higher in large cities than small cities. This is consistent withA. Large cities are more productive.B. Large cities are more skilled.C. Wages aside, large cities are less attractive places to live.D. All of the above.Year Price of Pizza Price of Beer 2010 $10 $15 2011 $12 $16 2012 $14 $17 Table 2. Let 2010 be the base yearUse the following market basket: 100 pizzas 300 cases of beerRefer to Table 2. What is the price index in 2011? Question 21 options: a) 109 b) 105 c) 125 d) 120Calculate a new consumer price index for the data in the following exhibit. Assume that current-year prices of Twinkies, fuel oil, and internet are $0.95/package, $1.25/gallon, and $15.00/month, respectively. Calculate the current year’s cost of the market basket and the value of the current year’s price index. What is this year’s percentage change in the price level compared to the base year? Product (1) Quantity in Market Basket (2) Prices in Base Year Twinkies 365 packages $ 0.89/package Fuel oil 500 gallons 1.00/gallon Internet 12 months 30.00/month
