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A: The opportunity cost of one unit of X is lower in the first region than in the second region. This…
Q: Concepts of justice are related to economics under the topic of ____, wherein the concepts of John…
A: Answer- Need to find- Concepts of justice are related to economics under the topic of ____, wherein…
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A: In a market, producers cam gain different types of competitive advantage based on their…
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A: Heckscher-Ohlin-Vanek model states that trade results on account of the different relative prices of…
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A: It had a long-term influence by catalyzing considerable industrial and agricultural development, as…
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A: The Hecksher Ohlin theorem states that a country exports a labor/capital intensive good if it is…
Q: One of these four answers represents a country or a group of countries that is or are the least…
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A: Market economy: - The market economy is an economy where the production and pricing decisions are…
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A: Fatalism can more generally be defined as the propensity of individuals or groups to believe that…
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A: Positive statements are based on facts, actual data, and these statements can be checked whether it…
Q: Which country has the absolute advantage in production of Good A? Group of answer choices Country Y…
A: Absolute advantage is a situation when one country can produce a particular good at lower cost in…
Q: Which of the following is a normative statement * If a sin tax is imposed on cigarettes and…
A: Normative economics deals with subjective judgements . It tells you how the situation "should be "…
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A: In economics, production is defined as the process of converting input into output. Input refers to…
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A: Aside from these industries, Aquino also legislated Executive Proclamation No. 26, Series of 2011,…
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A: Underperformance in the economy is low degree of improvement described by low truly per capita…
Q: In countries like ________________ the market-oriented economy dominates. China and Japan…
A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…
Q: Which of the following statements about producers is false? a. People set up some producers who do…
A: Producers are one of the important entity in the economy.
Q: Which of the following refers to an economy which most economic decisions are made by the government…
A: While in laissez-faire free markets (market-oriented) economies, demand and supply are determined by…
Q: According to the principle of comparative advantage, - countries should specialize in the…
A: According to the law of comparative advantage, In the 2x2 model, even if one nation is less…
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A: Here answer is “communism and Socialism”
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A: Micro economics facilitates easy understanding of our economic system.
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A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
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Q: Economic models are presented Through graphs and / or mathematical equations With graphs…
A: Economic models are used to make predictions about the economic behavior. It gives the analyst a…
Q: If an economy has the absolute advantage in the production of all goods over another economy, then…
A: Absolute advantage refers to the fact when one nation can produce more of a particular good as…
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A: A. True, True
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Q: Modern economics growth was made possible by Group of answer choices Technological advances in all…
A: Economic growth in a country occurs when more output can be produced within a specific time period.…
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A: The production possibility frontier (PPF) is a graph that depicts the maximum amount of two items…
Q: In the Heckscher-Ohlin-Vanek model, labour productivities in the production of a good in the…
A: Heckscher-Ohlin-Vanek model The Heckscher-Ohlin model was created to forecast international trade…
Q: Country A has a natural climate that is perfect for growing strawberries - long sunny seasons and…
A: Absolute advantage refers to an actor's capacity to create more of a product or service than a…
Q: The Ricardian model predicts that the market prices for goods with trade cannot be outside the range…
A: A pleasing product purchased by a consumer is an example of a good that satisfies human desires and…
Q: Country A has a natural climate that is perfect for growing strawberries - long sunny seasons and…
A: Here, country A is producing strawberries in a favorable climate for strawberry. Country B is…
Q: Which of these statements does not apply to market economies? Select one: a. Prices influence how…
A: An economic system is referred to as a market economy. The interactions of a country's individual…
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A: Absolute and comparative advantage are too very important concepts of International trade as they…
Q: Comparative advantage does not address Question 10 options: whether specialization and trade…
A: Comparative advantage occurs when a person or a country can produce the good at a lower opportunity…
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Q: Production possibility curve shows ____________. a. All of these b. The output that can be produced…
A: The answer is - d. Production of two products that are produced by an economy Production possibility…
Q: The following statement is true about comparative advantage. The principle was developed by the…
A: The opportunity cost is the cost of decreasing one commodity unit by sacrificing it and increasing…
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Q: Which country has the absolute advantage in production of Good A? Group of answer choices: Country…
A: Absolute advantage is the ability of an individual or a country to be the most efficient at the…
Q: Unrest and economic underperformance haunt the emerging world At the start of the century,…
A: Desclaimer as u posted the multiple questions we are solving the first one only. An economic…
- _________________ rose in Europe after World War I because of an economic ______________
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- A) The prediction that population growth and growing affluence would outstrip supply would mean rising prices over time due to oil shortages. B) Both the 1970s and the 2000s oil price hikes were due to the demand curve shifting to the right. C) The sharp fall in the oil price after the global financial crisis of 2008 was due to the supply curve shifting to the right. D) The prediction that technological advancement to find new resources and extract them more efficiently would outweigh increases in demand would mean rising prices over time due to oil shortages.Country A has a natural climate that is perfect for growing strawberries - long sunny seasons and plenty of rich, well drained soil. Country A also has a big labor force with agriculture knowledge and can produce 80,000 baskets of strawberries in one growing season. By contrast, Country B’s climate is less well-appointed for strawberries - a shorter summer season with large areas of red clay. They also have a smaller population trained in agriculture. Country B can only produce 30,0000 baskets of strawberries in one growing season. In this scenario and with this information, Country A has Group of answer choices A)Absolute advantage for producing strawberries B)Comparative advantage for producing strawberries C)The lowest synthetic advantage for producing strawberries D)Elastic advantage for producing strawberriesThe economies of many nations around the globe have been brought on their knees by COVID-19. Just when countries are on the path of recovery from the economic devastation caused by COVID-19, Russia invaded Ukraine which had worsened the economic outlook of the entire world. The nation Ghana as well as firms have not escaped the impact of the terrible events in Ukraine. Rising expenditure, dwindling revenue levels, increasing debt levels coupled with worsening macroeconomic indicators had led to the downgrading of the Ghanaian economy which has affected the ability of the country to go for external debt. In order, to deal with current challenges, the government in a process characterised by controversies passed the Electronic Transfer Levy Act 2022 popularly called E-levy. As the Finance Director of your company, you have been tasked to present a proposal to the Board of Directors on how your company will navigate the turbulent terrain of the Ghanaian economy. Your proposal must address…
- When the natural economic growth process begins in a capitalist economy A. the prices of capital goods fall relative to prices of consumer goods B. the demand for saving increases ( i.e. - the demand curve for saving shifts to the right on the market diagram) C. the consumption/savings ratio rises D. the quantity of consumer goods produced temporarily decreasesAgriculture is the backbone of Africa. But Africa has high poverty rate and the a large amount of money is still used to import food items from overseas. #suggests ways private sectors can contribute to the growth of agricultureThe following has NOT played a key role in the rise of Japan? a. real estate b. Keiretsu c. MITI d. Sogoshosha
- Which of the following factors does not help an economy thrive? increased wages low unemployment rates high unemployment rates discretionary incomeAfter World War II, Germany was divided into two parts, the German Democratic Republic (informally known as East Germany) and the Federal Republic of Germany (West Germany). East Germany was controlled by the former Soviet Union, while West Germany was controlled by the other Allied governments: the United States, the United Kingdom, and France. The war had destroyed most of Germany’s economy. The Soviet Union as well as the Allied occupation forces sought to rebuild the economies of their respective parts. Before the fall of the Berlin Wall reunited East and West Germany in 1990, West Germany’s economy grew at an annual average growth rate of 4.4 percent, which was about 3 times higher than East Germany’s rate. Draw the parallel between the natural experiment discussed in the chapter and the case of East and West Germany. Based on the information given in the question and your own research, why do you think two otherwise similar areas had such divergent growth rates?macroeconomics multiple choice question 28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capita of $75,000. Which of the following is NOT a plausible reason for Country B’s higher GDP-per-capita?(A) Country B has more open and inclusive economic and political institutions. (B) Country B has more natural resource wealth.(C) Country B has lower productivity.(D) Country B has more capital. 29. After lockdowns were declared globally in 2020, the price of oil crashed from $64 per barrel in January to $18 per barrel in April. What is the most likely reason that lockdowns contributed to the oil price crash?(A) Supply increased due to oil companies reallocating resources to help with the COVID-19 pandemic.(B) Supply decreased due to oil workers being furloughed.(C) Demand increased from factories producing Personal Protective Equipment for essential workers.(D) Demand decreased since fewer people were commuting to work.
- Modern economics growth was made possible by Group of answer choices Technological advances in all areas of the world in the 1800’s A greater supply of labor for agricultural activities in Western Europe The technological advances of the industrial revolution in the 1800’s Governments’ promotion of equality amongst the population in Western EuropeEconomic Growth can be illustrated graphically with: A. The Production Possibility Curve shifting outward or to the right. B. The Production Possibility Curve shifting inward or to the left. C. A Supply and Demand Curve. D. The Laffer Curve. Economics is defined as: A. the efficient allocation of the scarce means of production toward the satisfaction of human wants. B. the inefficient allocation of the scarce means of production toward the satisfaction of human wants. C. the efficient allocation of the plentiful means of production toward the satisfaction of human wants. D. the efficient allocation of the scarce means of production toward the satisfaction of human needs.What happened to each of the following as a result of drought in Mexico in 1808 -1809? a. livestock b. crops c. food prices d. unemployment