a. In what ways is economics a science and why do economists make? b. What is the importance of the circular-flow diagram?

Q: Below are some employment data from the country Commagene. 2018 2019 2020 Number of Employed Number ...

A: Here we calculate the value of the followings terms by using the given information and using relevan...

Q: Refer to the table below for a very simple economy producing three goods: movies, burgers and bikes....

A: GDP is the value of all final goods and services in a given year in any given economy. So here while...

Q: Phoenix Pharmaceuticals is putting together its R&D budget for the coming year. The firm has compile...

A: Social demand exceeds private demand when there are external benefits of the good. Research and deve...

Q: Part (a) Refer to the table below for a very simple economy producing three goods: movies, burgers a...

A: Nominal GDP measures the value goods and services that are produced in a particular period of time a...

Q: When the price is 6 the quantity demanded 2 and when the price 5 then quantity demanded 4, the price...

A: Elasticity of demand is a key economic concept that determines how sensitive a product's desired amo...

Q: a) In Japan, from the 1990s to the late 2000s, the interest rates fell to very low levels. However, ...

A: a. Liquidity trap caused people to expect a higher real interest in the future. That discouraged the...

Q: ay, you invest Php 100,000 into a fund that pays 25% interest compounded annually. Three years later...

A:       The answer is given below  

Q: list 5 disadvantages of privatizing state owned companies

A: Privatization of state owned companies or selling of government shares to the private sector is call...

Q: The table below shows the average cost (AC) for a purely competitive market. The average revenue (AR...

A: Given: Average revenue (AR) =RM5 per unit Firm’s total fixed cost (TFC) =RM4.

Q: 10. Which of the following statements about OPEC and the oil market during the 1970s and 1980s is (a...

A: OPEC stands for Organisation of Petroleum Exporting Countries . It is the exmaple of biggest cartel ...

Q: 6. Farm programs that pay farmers not to plant crops on all their land A. hurt farmers by increasing...

A: Total revenue is the number of total sales of goods and services.  

Q: Set 2 When supply and demand changes in an opposite direction. a.) Qd ↑ ; Qs b.) Qd ; as ↑ The Graph...

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at ...

Q: In the Grossman model of health production, people maximize lifetime utility overconsumption of heal...

A: Michael Grossman created the human capital model of health demand in 1972. The model considers healt...

Q: If a 10% increase in price leads to a 40% decrease in quantity demanded, what is the value of price ...

A:

Q: Use the graph below to determine the best answer to the question. 240 IS 200 160 120 80 40 10 20 30 ...

A:

Q: As explained by the economists, economic development and economic growth are the same. TRUE OR FALSE...

A: When comparing one period to the next, economic growth is defined as a rise in the production of com...

Q: Please Help Me: Draw a demand and supply graph for each of the following questions. For each questio...

A:  Equilibrium point is where demand is equal to supply at certain price and quantity .  And any chnag...

Q: Explain some problems the government must solve, as a result of the effects of a price ceiling. Exp...

A: Price ceiling : It is a method of price control where the price of a good is prevented from rising a...

Q: Identify one successful entrepreneur either living in your community or someone who is often in the ...

A: You've certainly heard of several successful Filipino entrepreneurs and their stories over the years...

Q: With the help of examples, compare and contrast the difference between monopoły and oligopoly market...

A: Monopoly Market: It is the market that encompasses only a single seller and the product sold by the ...

Q: On the basis of the three individual demand schedules below, and assuming these three people are the...

A: Market demand schedule for a private good is the horizontal summation of individual demand curves. T...

Q: 7. Which of the following statements is (are) correct? (x) Suppose technological improvements in agr...

A: Fertilizers, insecticides, seed technology, and other aspects of agriculture are all affected by tec...

Q: Statement Canada Guatemala Hong Kong Korea Niger United Kingdom This economy experienced the fastest...

A: ANSWER       

Q: ASAP

A: A monopoly refers to a particular firm and its items controlling an entire industry whereby there is...

Q: Which of the following statements is false? 1 ）Because the cash flows promised by the bond are the m...

A:   A bond could be a invariable security that symbolizes a lender's loan to a receiver (typically com...

Q: What type of demand does a person who has high cholesterol, and must exercise for an hour every day,...

A: The answer is - D. Inelastic

Q: 6. The law (or rule) that explains why stock returns tend to have a bell (normal) curve is ca a. The...

A: The normal distribution is a bell curve shaped, the central limit theorem states that the distributi...

Q: If GDP is currently $300 and the growth rate is 5 percent, how many years will it take for GDP to re...

A:

Q: If an economy described by the production functionY= K has 30% of output invested in new capital and...

A: At steady state capital remain constant, that is rate of change in capital stock is zero. This impli...

Q: 7) The market demand curve for a homogeneous product is given by p=70-Q where Q is the total quantit...

A: In economics, the marginal cost is the change in the total cost that arises when the quantity produc...

Q: How does INFLATION impact a nation. economic hea lth ? Address both the Positives and negatives.

A: Answer is given below

Q: Let's say that: rr = the reserve ratio = .85% C = total currency in circulation = $1060B D = total c...

A:

Q: In Example 6.4, wheat is produced according to the production function: q = 100 (K0.5L0.5). Beginnin...

A: The technological relationship between quantities of physical inputs and quantities of products outp...

Q: Show Full Solution ! *using DEFERRED ANNUITY formulas only *use given data below Answer: 14,170.27 Q...

A: PV =? Monthly withdrawals = 500 monthly  

Q: Fill in the blanks: Number of cookies Total Utility Marginal Utility 1 30 30 50 3 60 65 2.

A: Marginal refers to additional.  Utility is the satisfaction derived by consumption of a good or serv...

Q: he Fed believes if inflation is high and GDP is high, unemployment is likely to: a. Increase b. Decr...

A: Inflation and unemployment are negatively related.  Higher inflation leads to decrease in unemployme...

Q: ur answer, should the firm continue or stop the production? Justify. Output (Units) Total Revenue ...

A: Average cost is the total cost divided by quantity of output. e,g. If the total cost is 48$ for 8 it...

Q: Under a purely fiexible exchange rate system: O a. Supply and demand set the exchange rates. O b. Go...

A: Flexible exchange change rate system is the one where the currency price of an economy is set by the...

Q: factors that contribute to the successful investment

A: Investment means Balancing risks, between reward and opportunity cost - knowing the right balance le...

Q: Optimal choice, example #4 Bob has utility function U(x,y)=x²+y over goods x and y. a) If Px=$30, Py...

A: * ANSWER :-    The Income consumption curve shows the relationship between consumption of goods and ...

Q: In terms of composition and importance, what is the differnece of mission statements of a fortune 50...

A: The assignment Statement is focused on the here and now; it identifies the buyer(s), important opera...

Q: Explain how the market demand curve for a normal good will shift (ie left, right or no shift in each...

A: Depending on whether the demand is individual or market, demand refers to the quantity of a commodit...

Q: Question 6: (a) What is 'Business Cycle'? (b) What is the definition of: leading indicator, coincide...

A: (a) Business Cycle It is also called trade cycle or economic cycle, it describes the different stage...

Q: * 6. U.S. growth: On page 52, the United States between 1870 and 1929 was slightly lower than 2,0% t...

A: Answer is given below

Q: 2. A 21-year old inherits BD100,000 from a distant relative who has deceased. She decides to spend s...

A: Given information, Future amount from investment (F): BD1,000,000 Interest rate (r): 8% Compounding...

Q: How much do you need to deposit today (P) to withdraw BD25,000 at n =1, BD3,000 at n = 2, and BD5,00...

A:

Q: Question 10: Assume an economy operates in the intermediate range of its aggregate supply curve. For...

A: Free goods don’t require resources to produce them as they are available freely in nature. Therefore...

Q: The Kansas City Chiefs football team just won the Superbowl and an ESPN.com poll showed that 74% of ...

A: Demand curve shows the inverse relationship between price and quantity demanded of a good. There are...

Q: Which concept is NOT illustrated by the production possibilities frontier?    A. tradeoffs  B. effi...

A: The production possibility frontier (PPF) is a bend that represents the potential amounts that can b...

Q: Currently, gas and fuel prices have been rising steadily for months. How has the drastic increase in...

A: Demand refers to the desire to purchase and willingness to pay a price for a good or service by the ...