hat is a basket of goods? Explain how it is selected.

Q: What do you mean by Circular flow of physical goods and money income?

A: "The circular flow of physical goods and money income refers to the flow of money and goods among th...

Q: In 1845 French economist Frederic Bastiat wrote his satire, "Petition of the Candlemakers," which ca...

A: The "Candle Maker's Petition" is a satire of protectionist tariffs, written the by great French econ...

Q: Consider the problem of an entrepreneur/borrower with no money and a project requiring L=200 to be c...

A: As per the question , Entrepreneur can work hard or shirk . Returns are same in both conditions but ...

Q: Labor (workers per day) Total product (units per day) Marginal product Average pr...

A: Marginal Product is the additional change in the total product due to change in labor. MP=Change in ...

Q: The economy is growing at a healthy rate. Nominal GDP is expected to grow by 4 percent this year. Ho...

A: Nominal GDP refers to the value of goods and services measured at current year prices.

Q: Suppose there is a decrease in the demand for investment, and increase in saving in an economy. Show...

A: An investment curve is downward sloping due to the negative relationship between interest rate and i...

Q: What prevents a perfectly competitive firm from seeking higher profits by increasing the price that ...

A: The perfect competitive firms sell homogeneous products which means other firms also sell the same t...

Q: Circular flow of production process

A: Introduction Circular flow used to show how the economic activity works in an economy. There are two...

Q: Demand Equation: Q= 2500- 5/6P Supply Equation: Q= 5/2P Graph the equations and determine the pric...

A: QD=2500-56PQD=2500-0.8PNow,2500-0.8P=00.8P=2500P=3125QS=52PQS=2.5PNow,2500-0.8P=2.5P3.3P=2500P=757.5...

Q: Roger Marquez purchases a lot for $ 40,000 cash and plans to sell it after 5 years. If he wants an 1...

A: Basics:- Nominal Interest Rate =  Real Interest Rate and Inflation Rate               (1 + i )      ...

Q: Distinguish between nominal GDP and real GDP?

A: Generally, there are two types of GDP: 1. Nominal GDP 2. Real GDP

Q: In Billion of AED Gross domestic product 23,560 Goods produced in foreign countries with UAE. Capita...

A: The Gross Domestic Product (GDP) can be measured in multiple approaches, like:  The Product Approac...

Q: Policymakers are provided data about the private and social benefits of a good being sold in the mar...

A: An externality can be positive or negative. A positive externality is a benefit received by a third ...

Q: Note : please answer both the question. I will give instant upvote.   For the​ "No, markets fail​ ...

A: Answer:  (1). A negative demand shock leads to a decrease in the aggregate demand in the economy. As...

Q: In words, Ay = B1AX, is defined as the marginal effect of: a. x on y is constant and is equal to BO....

A: Marginal effect measures the change in dependent variable due to change in independent variable.   

Q: Which of the following are reasons that market prices might not reflect true social costs? O Monopol...

A: Monopoly is the reason that market prices might not reflect true social costs.

Q: All of the following statements about import tariffs are true except Group of answer choices ...

A: Import tariffs means the taxes that are levied on the imported goods. The basic aim behind imposing ...

Q: In the latter years of the command economy in the Soviet Union, there was some experimentation with ...

A: Between 1929 and 1933, Stalin ordered the collectivization of agriculture, which he pursued vigorous...

Q: 11500 11500 11500 11500 0 – 1–2–3– 4–5– 6 – 7–8 i = 3% F

A: Given interest rate = 3 % cashflows for year 3,4,5,6 = 11500 Future worth = cashflow * (1 + rate)^ye...

Q: A. Consider that you're the manager of a competitive firm, KKL INC. with the following short run cos...

A: In short run the firm will try to recover only Variable cost it means their price must equal to the ...

Q: Biomass Power Plant uses biodegradable wastes as Tuel to produc electricity. The cost A dollars per ...

A: We have given the cost function of the production of electricity as A=12+0.3B+0.27B2.               ...

Q: Price Quantity demanded  Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $8...

A: Answer: Price ceiling: price ceiling refers to the maximum limit on price imposed by the government....

Q: Determine the number of periods n would it take for a uniform payment series in an account that earn...

A: Uniform Series Compound-Amount Factor” is given by the following formula: FA=1+in -1i where F=Future...

Q: Suppose the price elasticity of demand for gasoline is 0.7 and the price elasticity of demand for pl...

A: The price elasticity of demand is the ratio of percentage change in quantity demanded and percentage...

Q: Profit is maximum when

A: To find : Condition for profit to be maximum. 

Q: 12. Excise tax is a part of

A:

Q: e following table describes the production possibilities of two cities in the country of Baseballia:...

A: The costs that depict the cost of the next best alternative being foregone for specified decisions a...

Q: For an imaginary economy, when the real interest rate is 7 percent, the quantity of loanable funds d...

A:

Q: Q2) The production function of a small economy is Y=K0.3L°7. K is the amount of capital (land), L is...

A: (a) Production function Y = K0.3 L0.7   Where K is land and L is labor ---------------------------- ...

Q: A local economy's market demand for drones is given by Q" = 24 - 4P while supply is given by Q° - 8P...

A: Conducting international trade implies involving in the export and import activities. The export and...

Q: Use the 3-equation model diagrams to show how the economy can fall into a deflation trap. Explain, w...

A: Deflation is a condition where price level of economy falls. Money supply and credit availability fa...

Q: Small “Mom and Pop firms,” like inner city grocery stores, sometimes exist even though they do not e...

A: Economic profit is the difference between the total revenue received by the firm and its total impli...

Q: CIBC Bank publishes the annual report every year on the 2nd of April. the Bank is at hearing to the ...

A:   The company has to publish its annual financial reports every year as per regulatory requirements ...

Q: A profit maximizing monopolist has a cost function C (g) = q, where q > 0 %3D denotes the amount pro...

A: Monopoly demand equation: q = 100/p2 => p = (100 / q)1/2 => p = 10 / q1/2 ------------------ T...

Q: Lx Give Up? E Feedback Try Again Question 36 of 36 > O Attempt 1 The graph describes the market for ...

A: Answer: If the cost of sugar (an important input of chocolate) increases then the cost of production...

Q: Describe and show on a graph the effects on output and welfare if the government regulates a monopol...

A: Monopoly refers to the type of market where only one individual controls all the supply or productio...

Q: The Federal Government has, after consultation and research by health Canada, decided to promote the...

A: If the ice cream are healthy and it is in the demand, then people would be less sensitive to the pri...

Q: The market for cookies is represented by the following supply and demand conditions: QD =1,000 – 200...

A: Demand : Qd=1000-200P Supply: Qs=400P-200 Equilibrium price and quantity Qd=Qs 1000-200P=400P-200 60...

Q: . What are the ways in which the chocolate industry can help in the socioeconomic development of Wes...

A: There are many products that are produced in West Africa, Cocoa is one of the important products tha...

Q: Why will profits for firms in a perfectly competitive industry tend to vanish in the long run?

A: A perfectly competitive industry is where there are many buyers and sellers there exist no barriers...

Q: You own a printing firm. Two of your senior managers provide you with advice. The first manager stat...

A: The process of combining multiple material and immaterial inputs (plans, know-how) to generate a con...

Q: 1. Refer to Figure 1. Suppose the curve AB is the indifferent set for bundle x under the preference ...

A: a. As we can see in the graph, 7,4,5,1 are in the lower contour of the indifference curve. X will be...

Q: In the short run, a rise in the federal funds rate shifts the a. AD curve leftward. b. SAS curve...

A: When product or any kind of service is manufactured, cost  takes place and process of business follo...

Q: The Lerner index at the equilibrium of the linear Cournot symmetric model is equal а-с to L (n) = wh...

A: Equilibrium price refers to the price under which the supply is equal to the demand in a perfectly c...

Q: Let 100 -100 A = 300 -300 200 -200 be an asset payoff matrix. You are 'greedy': 'more is better' in ...

A: Matrix is a structure formed by combining different/equal numbers of rows with columns. These matric...

Q: In regards to minimum wage, should there be a national standard or should minimum wage be regulated ...

A:   Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...

Q: How much gasoline could Americans save each year if they did not take care of lawns? At today’s gas ...

A: With the rising cost of gasoline and natural gas, most people are seeking for methods to conserve mo...

Q: 5

A: Utility is the measure of satisfaction that a consumer derives from the consumption of a good or a n...

Q: Analytical problems 12 Faustian health economics. Consider Figure 11.10, which shows the locus of fe...

A: Dear Student, as you have posted multiple sub-parts in a question but according to our policies and ...

Q: what is Circular flow of production units?

A: circular flow model Lets understand this concept with an example:- In this circular flow model ther...