Birefly explain the difference between absolute and relative PPP.

Q: Distinguish the final goods or services, intermediate goods or services, and capital goods?

A: Intermediate goods are defined as those goods which are a part of the final good as they have been…

Q: Graph A Graph B Graph C Graph D Which of the above 4 graphs best represents the change in the PPF if…

A: PPF stands for production possibilities frontier. It demonstrates the several mix of two final…

Q: Explain Say’s Law and walras law in Microecnomics? Please describe with graph or with one example…

A: According to say's law focus point of economy should be the supply side because demand arises out of…

Q: Using the basic circular flow model, explain whythe value of businesses’ output of goods andservices…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: briefly chart through the global consumer economy from the production of its materials to its…

A: Global Consumer Economy : The consumer economy is an economy that shows consumer spendings as the…

Q: Suppose the economy is four sectors economy. The economy is represented by the following: C = 400 +…

A: Aggregate expenditure equation: AE = C + I + G + NX => AE = 400 + 0.40Yd + 25 + 40 + (-25) Note:…

Q: Which statement best describes the circular flow of an economy? the flow between businesses and…

A: In economics, it can be seen that people interact with one another for making business, economic or…

Q: Wages paid to labour Household consumption spending Government Transfers Investment spending…

A: we can calculate the GDP by using different methods like , Income method , expenditure method so…

Q: For a consumption dependent economy ike Malaysia and the United States, which factor contributes…

A: Consumption is nothing but the utilization of goods and services by the individuals in the economy.

Q: For a consumption dependent economy like Malaysia and the United States, which factor contributes…

A: Personal Consumption Expenditures. Consumer spending contributes almost 70% of the entire us…

Q: Describe the four measures taken for investment?

A: Investment refers to the addition or acquisition of assets with the goal of making income or profit.

Q: Assume that an economy is operating inside its PPF Explain how you would use the PPF to measure the…

A: The Production Possibilities Frontier and Social Choices : Just as a person cannot have everything…

Q: · At the beginning of the year, you have a saw worth $2,000 and a bunch of trees. •…

A: GDP is the total value of goods and services produced within the domestic territory of a country…

Q: what is Law of economy

A: The construction of a general truth based on specific observations or tests that traces out a causal…

Q: One of the following best explains consumption spending Select one: a. Spending on final consumer…

A: Consumer spending is the total amount spent on storage goods and services made by individuals and…

Q: A. Which expenditure category do each of the following items count in?  Group of answer choices -…

A: A. To categories the given expendituresYou spend your tax refund on a new car built in America?…

Q: What is differance between three sector ecnomoy and four sector ecnomoy

A: The three-sector economy involves three sectors namely: households business, and government .The…

Q: GDP measures: the value of production total expenditures income of factors production all the above…

A: 1. GDP: Gross domestic product or GDP is the measurement of all the final goods and services that…

Q: A monthly scholarship check received by an economics student is not included GDP. * O T O F

A: Yes, scholarships are not part of any value addition to the economic activity. It is just a transfer…

Q: Subject: Business Economics Q): An economy produced three goods: organ, apple & organ juice. It is…

A: In financial aspects, the GDP deflator is a proportion of the degree of costs of all new, locally…

Q: Why do economists use the terms “investment” and “capital” in very diferentcontexts (physical…

A: In simple terms, Investment is a kind of an asset that is created with a purpose to grow money and…

Q: The table below shows the price of inputs and the price of outputs at each step in the production…

A: Expenditure method

Q: The following diagram shows select information for an economy made up of three industries for a…

A: Gross domestic product (GDP) is the total value of all the goods and services produced in the…

Q: An economy produces three goods: organ, apple and organ juice. It is assumed that half of the organ…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 2.  In the following situations, explain what is counted (or is not counted) in this year's GDP. A.…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Explain how the relative PPP differs from the absolute PPP. Can the Relative PPP hold true while, at…

A: Absolute PPP is termed the price of two goods that will be constant in two nations. Suppose, a…

Q: Consider two economies that spend different shares of their gross domestic product to R&D…

A: The funding of R&D is only part of what the government can do to foster innovation. Government…

Q: Suppose the economy is four sectors economy. The economy is represented by the following: C = 400 +…

A: Net export = Export - Import If import decreases by 10, and export remains the same. Then the net…

Q: consume

A: The question concern the paradox of thrift. If all the people of the economy increase the proportion…

Q: relationships between total production, total income and total spending?

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: R millions mption Expenditure 138 nent expenditure 98 ment expenditure 57 ports 64

A: 3.1)      GDP MP = C + I + G +NX                                            where , C = Consumption…

Q: explain the difference between intermediate goods and final goods and give an example of each.

A: Definition: Final goods are those goods that are consumed directly. Intermediate goods are those…

Q: Does the absolute PPP imply the relative PPP? What about the other way around?

A: Introduction   PPP - Purchasing Power Parity   According to absolute PPP, the price of a basket of…

Q: The economy can be represented by economic models. One of the models we use to understand the…

A: 1) Circular flow diagram is a model which represents the flow of money and good and services from…

Q: How is a potato treated in GDP terms? O It is always counted an a final good. O It is always counted…

A: Gross domestic product is the value of FINAL goods and services produced in the country within a…

Q: ds and services they

A: An economy is a large set of inter-related activities of production and consumption which aid in…

Q: Describe the ways the various components of GDP were impacted by the pandemic? Plz do fast asap.

A: GDP refers to the total production of goods and services in an economy during a year. Components of…

Q: The table below shows economic activity for a tiny country. Using the expenditure approach determine…

A: The expenditure method is a framework for working out gross domestic product(GDP) that joins…

Q: Which companies engage in the circular economy

A: Circular economy: It is an idea of circulating resources in the economy in form of goods and…

Q: Compare and contrast the following activities  before Pandemic COVID 19 & after COVID 19 by…

A: answer a. COVID 19 pandemic appears as a sudden jerk on most of the economic variables.  Due to the…

Q: Explain the relationship of Covid-19 pandemic to the declining economy of the Philippines.

A: The economy of Philippines is expected to fall by -7.3% because of the covid pandemic in the year…

Q: Calculate the PPP-adjusted GDP for each of the four countries using the information found in the…

A: Purchasing power parity (PPP) is used to compare countries' currencies using a common basket of…

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.