An example of an income payment is wages. These are paid in exchange for... O A. consumer spending. O B. government spending. O C. human resources. O D. investment.
Q: Which of these words do not belong to the group? O a. National income O b. Local culture O c. Price…
A: Local culture is not part of macroeconomics.
Q: 6. Which of the following statements about factors of production is aise Ahe term 'factors of…
A: Factors of production are resources which are required for the production of goods and services in…
Q: People base their labor supply on the because they care about Select one: O a real wage; what their…
A: Answer to the question is as follows :
Q: What is the impact on the labour market due to a reduction the productivity of workers? Select one:…
A: Labor demand is negatively sloped showing inverse relationship between wage and number of workrs…
Q: Which of these is not a goal of macroeconomics? O a. To achieve higher level of employment O b. To…
A: Note: We'll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: In the factors of production market Select one: O a. households and firms are both sellers O b.…
A: In circular flow model, in the factor market, households sell labor, so they are sellers, while…
Q: WAGE EMPLOYMENT In the labor market depicted in figure, an increase in oil prices OA. shifts labor…
A: Labor market is also known as the job market. Here, employers demand labor and employees supply…
Q: Name the four factors of production and the incomes they earn. The factor of production and the…
A: Factors of productions are referred to as those inputs which are used in the process of production…
Q: When the rental rate for capital falls, the capital O A. quantity demanded of, decreases O B. supply…
A: As per law of demand, when price of capital decreases (increases), quantity of capital demanded will…
Q: Can i i get some idea what to write in that analysis?I have no idea what to write. Plz provide me a…
A: The firms produce the goods and services that are demanded by the people in the economy. The…
Q: The government raises taxes on wages by 20% and splits the money evenly across households as "free…
A: A government's decision of what taxes to charge, in what quantities, and on whom is known as tax…
Q: The opportunity cost of every investment in capital goods is O absolute advantage. current…
A: Opportunity cost: It means that while choosing one alternative, another alternative is lost.
Q: Discuss the meaning of mobility of factors of production. To what extent are these factors mobile…
A: Mobility of factors of production means the ability to move factors of production i.e., labor,…
Q: Suppose that the following headlines appeared in a newspaper. Which would most clearly represent a…
A: Note: Due to multiple questions being posted, the first question has been answered as per strict…
Q: What are the primary factors of production (FOP) and how do they drive economic output and factors…
A: The factors of production (FOP) are all the resources that are required to produce products and…
Q: -to-capita
A:
Q: A real quantity is a quantity measured: Select one: O a. in physical terms. O b. using real prices.…
A: The real quantity is the actual quantity produced in the particular time period.
Q: Suppose that the cost of a movie ticket is $12, and a lattecosts $6. Why would the theater…
A: Money is anything that has general acceptance as payments for goods and services. According Prof.…
Q: Which of the following is an example of allocative inefficiency? O A. Consumers place positive value…
A: Allocative efficiency is where the marginal cost of producing an additional good is equal to the…
Q: In the factors of production market Select one: O a. households and firms are both buyers O b.…
A: In the factor of production market, factors of production are being sold and buy. Where the most…
Q: Which one of the following occurs when an individual enters the paid work force? O a. The…
A: When the individual enters the workforce then it is not able to devote much time to housework. This…
Q: How can we measure the opportunity cost of leisure? The opportunity cost of leisure is O A. economic…
A: Opportunity cost is the cost of next best alternative forgone.
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A: The law of supply states that there is a positive relationship between the price and quantity…
Q: d) Solve numerically for quantity produced and labor and capital demanded when v = 1, w = 1. e) What…
A: In economics, a CF {"cost function"} is described as a function of an output quantity and P {prices}…
Q: Which of the following is a macroeconomic question? How many textbooks should be published by a…
A: In economics, macroeconomic questions refers to the economic queries that talk about the economy as…
Q: Suppose that we have an economy with four workers. Paris H. can teach 3 yoga lessons or make 20…
A: The opportunity cost refers to the cost of forgiving or sacrificing an item in lieu of purchasing or…
Q: By going to school an individual will obtain which "factor of production"? O Money. O Physical…
A: the factor of production tells us about the various items needed in the production process and which…
Q: Resource use is efficient when ...... O A. it is not possible to make someone better off without…
A: Pareto Optimal Concept :- It is a situation of optimal level of satisfaction, when if someone wants…
Q: In the simple circular-flow diagram, markets consist of: Select one: a. the market for goods and…
A: The simple circular flow diagram shows the flow of cash from firms to households and then again cash…
Q: Production function Capital equipment per worker ($ thousands) Which 2 of the following statements…
A: The given graph shows a production function. The x axis measures the capital equipment per worker…
Q: College students sometimes work as summer internsfor private firms or the government. Many of…
A: a. The opportunity cost of a good or service is what you give up or let go to get that good or…
Q: Which of the following is not a scarce resource? Select one: O a. Sunshine for solar power in the…
A: Since you have asked multiple questions, we are answering the first one for you. If you want the…
Q: An individual transferable quota (TO) is a limit that is assigned to an individual who to transfer…
A: An individual transferable quota (ITQ) is imposed by the government on individuals or firms.
Q: The real wage rate is $35 an hour. At this wage rate there are 100 billion labor hours supplied and…
A: The quantity of labor demanded is more than the quantity of labor supplied, thus there is a shortage…
Q: The study of microeconomics and macroeconomics differ in that: O a. microeconomics examines the…
A: Microeconomics is the study of individual market of the economy, focusing on consumer behaviour,…
Q: In the circular flow diagram, Government demand ........ and firm supply ........ Select one: O…
A: Circular flow model shows how money flow through the economy. From of money through one sector to…
Q: The countries with the highest mean incomes are also the countries with the highest O savings to…
A: When talking about mean income, it is the average level of income generated within the economy by…
Q: At any given wage-rental ratio, cloth production uses a higher labor-capital ratio than food…
A: Technique of Production Production of commodities and services depends upon the Technique which is…
Q: Which of the following is a macroeconomic question? How many textbooks should be published by a…
A: Unemployment rate: - it is the percentage of people out of the total labor force who are able and…
Q: Which of the following is not a topicstudied in Macroeconomics? Select one: O a. gross domestic…
A: Answer Explanation Under macro economics, we studied about the performance of an economy as whole.…
Q: Which of the following is/are not a factor of production? O a. Enterprise O b. Land O c. Capital O…
A: Production refers to the process of transforming inputs into output. Inputs in the production are…
Q: Microeconomics focuses on all of the following EXCEPT the O a. Hiring decisions made by a business.…
A: The science that tends to deal with distribution, production, and consumption level of services and…
Q: Suppose that a technological innovation increases the marginal productivity in a perfectly…
A: Marginal Product of Labor (MPL): - it is the change in total production due to the employment of an…
Q: In the circular-flow diagram, firms are sellers in Select one: O a. the factors of production market…
A: Option ‘C’ is correct answer c) the goods and services market
Q: Describe the similarities and differencesbetween the markets for land and capital and themarket for…
A: Market for land, labor and capital is known as factor market. This is because land, labor and…
Q: In the circular-flow diagram, firms are sellers in Select one: O a. both markets O b. neither market…
A: The round stream graph improves on this to shape the picture more clear . inside the chart, firms…
Q: Sonia works at a restaurant where tips are pooled and divided equally. Anna works at a different…
A: The efficiency wage is the wage paid to the worker to work with integrity and more focus and to…
Q: How will an increase in labor productivity affect equilibrium in the labor market? O The demand for…
A: Meaning of Labor Productivity: The term labor productivity refers to the efficient output level…
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- Table 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes, measured in millions of dollars, at various interest rates. What is the equilibrium interest rate and quantity in the capital financial market? How can you tell? Now, imagine that because of a shift in the perceptions of foreign investors, the supply curve shifts so that there will be 10 million less supplied at every interest rate. Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest tale shift makes intuitive sense.College students sometimes work as summer interns forprivate firms or the government. Many of these positions pay little or nothing. a. What is the opportunity cost of taking such a job? b. Explain why students are willing to take these jobs. c. If you were to compare the earning later inlife of workers who had worked as interns and those who had taken summer jobs that paid more, what would you expect to find?The Environmental Protection Agency (EPA) wants to investigate the value workers place on being able to work in “clean” mines over “dirty” mines. The EPA conductsa study and finds the average annual wage in clean mines to be $42,250 and the average annual wage in dirty mines to be $47,250.a. According to the EPA, how much does the average worker value working in a clean mine?b. Suppose the EPA could mandate that all dirty mines become clean mines and that all workers who were in a dirty mine must therefore accept a $5,000 pay decrease. Are these workers helped by the intervention, hurt by the intervention, or i ndifferent to the intervention?
- Part (a):Suppose that the demand for the Dates and supply of the Dates in Ramadan both are declined byequal amount over some period of time. What you can conclude with this information? Explainand graphically show the effect on equilibrium price and equilibrium quantity.Part (b):Why is money not considered to be a capital resource in economics and why is entrepreneurialability considered to be a part of economic resource, distinct from labor? Please suggest two mostimportant function of entrepreneurs, you think is must?Matt loses his job as a solar panel installer and cannot find another position with equivalent pay and benefits. As a result, he is still According to economists, which term best describes Matt? a. under employed O b. a discouraged worker O c. unemployed Od out of the labour forceAre these micro or macro questions ? v) How large is KFC’s share of the fast food industry? (vi) How will implementation of a minimum wage rate affect your 17 year old brother’s budget?
- What are the primary factors of production (FOP) and how do they drive economic output and factors on income (FOY)?1. If the sales tax increases to 12%, what percentage of our Archie's income will jeff now pay in text on his $150 bill? Show your work. 2. Will he make adjustments to his purchases and if yes, how will he adjust? If no, why not? 3. If the sales tax increases to 12%, what percentage of Jeff's income will Archie pay in tax on his $150 bill? Show your work.College students sometimes work as summer internsfor private firms or the government. Many of thesepositions pay little or nothing.a. What is the opportunity cost of taking such ajob?b. Explain why students are willing to take thesejobs.c. If you were to compare the earnings later in lifeof workers who had worked as interns and thosewho had taken summer jobs that paid more, whatwould you expect to find?
- Using the model developed in The Economy Unit 3, Section 3.7, consider an individual who is facing a wage (w) of $20 per hour. Assume that their spending on goods and services cannot exceed their earnings per day. Maximum consumption (c) per day is: c = w(24 – t) where t = hours of free time per day On your diagram, illustrate and explain how the wage increase can lead them to have: i. more consumption and more free time ii. more consumption and less free time iii. less consumption and more free timeAre households demanders or suppliers in the goods market? Are firms demanders or suppliers in the goods market? What about the labor market and the financial market?Describe the similarities and differencesbetween the markets for land and capital and themarket for labor.Describe the similarities and differencesbetween the markets for land and capital and themarket for labor.
