Classify each of the statements as true or false. True False Answer Bank Marginal utility is always positive. Marginal utility is the extra satisfaction experienced by one additional unit of consumption. Diminishing marginal utility means that consumption of an additional unit decreases utility. Utility is a measure of the satisfaction people receive from their choices. Numerical utility values are relatively easy to calculate.

Q: Suppose that real GDP is summarized by y- AK(HN)1-a, where A is TFP, K is capital, H is average year...

A: Given production function Y= AK (HN) 1- Here change is happening in GDP per worker function,i.e, we ...

Q: An equipment was purchased now at P10,000,000.00 prevailing interest rate is 10% per year. Solve the...

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

Q: Study: 30-Year Life Expectancy Gap in 2 Chicago Communities The life expectancy of people living in ...

A: Economic growth and development somehow become the reason of improving the standard of living of com...

Q: Explain the two main categories of gains from trade which are 1. gains from exchange and 2. Gains fr...

A: Transfer or exchamge of goods and services between entities or individuals for a specified payment i...

Q: nflow year 1 12000 nflow year 2 12000 nflow year 3 12000 nflow year 4 12000 And the required rate of...

A: The net present value or net present worth applies to a series of cash flows occurring at different ...

Q: Suppose a perfectly competitive firm faces the following information: An industry demand given by P ...

A: In perfect competition, equilibrium price is equal to minimum average total cost which happens when ...

Q: Under the FLSA, states are preempted from requiring a higher minimum wage than the federal amount. ...

A: For employees in the private sector, as well as federal, state, and local governments, the Fair Labo...

Q: the percentage change in quantity demanded divided by the percentage change in income B. the total...

A: Cross elasticity of demand measures the quantitative change in demand of one good following change i...

Q: Suppose Emma consumes only two goods, X1 and X2, and her utility function is given by U=5X1X2. Suppo...

A: U=5X1X2  

Q: 3. According to the textbook, which of the following statements about drug interdiction is (are) cor...

A: Drug interdiction means the policies that are adopted by the government to reduce the supply of drug...

Q: ood X as an input into its manufacturing process. It buys 8000 units of good X 1000 units of good Y,...

A: *Answer:       

Q: Identify and explain using appropriate diagrams the 2 main categories of gains from trade

A: Introduction: The exchange of products and services between parties, or the buying and selling of co...

Q: A small entrepreneur invested a capital of P 80,000 for a buy and sell business. He estimated to hav...

A: A benefit–cost ratio is an indicator, used in cost–benefit analysis, that attempts to summarize the ...

Q: An overnight loan granted by a bank to another bank to meet the daily bank reserve required by the c...

A: In the banking sector, there are different types of exchange occurs between banks, bank and public, ...

Q: Rational choice is made by comparing different incentives. is what you must give up to get what you ...

A: C is a choice that uses the available resources to best achieve the objective of the person in makin...

Q: 3. Be sure to label all points. Suppose the domestic autarky relative price M/S=1 and autarky consum...

A: Comparative advantage is when a country is able to produce a particular good or services at a lower ...

Q: True/False: There are two goods X and Y Let's say Px and Py both double and income triples. The slop...

A: The measure that depicts the possible quantities of commodities that could be brought with a given i...

Q: Q4: A bank borrowed a company $130,000 to adjust a building. This loan is for 3 years at Compound in...

A: A = P ( 1 + r n)nt A =Amount P= Principal r= Rate of interest n= How many times rate of interest com...

Q: What would be the absolute value of the elasticity if demand is inelastic?    A. greater than 1  B....

A: Elasticity of demand refers to the degree of responsive of a good or a service to change in its dete...

Q: Consider the demand function for processed pork in Canada, Q = 796.00 - 37p • 20p, + 3p. + 0.002Y Th...

A: Here we calculate the equilibrium price of pork and equilibrium quantity of pork , by using the give...

Q: How do differences in income levels and income distribution among countries affect international bus...

A: The economics as a study is based upon the idea that the resources which are present with the econom...

Q: If the cost of a new production line is $40,000 and the expected free cash flows resulting from this...

A: particular Amount Cost -40,000 Inflow in Year 1 12000 Inflow in Year 2 12000 Inflow in Year ...

Q: A good that crosses borders one or more times as it gets progressively assembled is called an ______...

A: The full vary of activities like style, production, marketing, distribution, and support to the ulti...

Q: New nominal interest rate:

A: Money Demand Function: Money demand function shows the effect of some aggregate economic variables h...

Q: Show that absolute PPP is satisfied when the domestic price of the consumption basket in foreign ...

A: ANSWER   The outright computation is determined by separating the worth of a fair in one cash, by th...

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: discuss in detail the primary objectives of the municipal finance management act and public financia...

A: South Africa embarked on a process of public management reform shortly after the new democratic regi...

Q: Barbara and Antoni each work 8 hours a day producing lemonade and pizza. In eight hours, Antoni can ...

A: The following graph represents the PPF of Antoni and Barbara;

Q: Recently, the economies of North Korea and Norway have begun to grow very rapidly. This increases th...

A: The market equilibrium interest rate is decided by the supply of loanable fund and demand for loanab...

Q: The table below presents some data on the federal minimum wage and the CPI for several years. Fill i...

A: In economics, the inflation rate shows the overall increase in the price level in the economy over a...

Q: When choosing a distribution strategy, which of the following statements are true?

A: This chapter is related to distribution strategy. Distribution strategy is used to bring products, g...

Q: Which of the following is NOT the assumption of the Marginal Productivity Theory of Distribution?

A: To find:  Which of the following is NOT the assumption of the Marginal Productivity Theory of Distri...

Q: . The 'substitution effect' takes place due to change in

A: To find:  The 'substitution effect' takes place due to change in

Q: Using the information provided in the table below, answer the following questions.   Country A Count...

A: PPF, production possibilities frontier shows different combinations of two goods that can be produce...

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: Calculate the equilibrium price for an illegal good that can be harvested for zero cost when competi...

A: Illegal good Fine = $600 Probability of arrest = 1/6

Q: The project is to construct a lateral canal that will provide irrigation for 150 ha production area ...

A: Given information Project provides irrigation=150 ha Land cost=950 per ha Construction cost=4500000 ...

Q: In the market for paper: New advances in recycling technology reduce the cost of producing paper mad...

A: * ANSWER :-  (1) From the given information the answer is given as follows     

Q: please answer the questions i've attched question 4 and 5

A: 4) a) Consumer surplus (CS) is obtained by subtracting the amount of money that a customer is willin...

Q: Assume that the labour demand equation for a fictional country is La= 90 - 2(w), where w is the wage...

A: Here we calculate the following terms by using the given information ,and fill the blanks so the cal...

Q: P 4. a sediment control project in nueva vizcaya requires an initial investment of 145,000, has a sa...

A: 4. Given initial investment = 145000 Project life = 6 years Salvage value = 22000 Annual expense = 1...

Q: QUESTION 9 If total inflation over 18 years is 17.3%, what is the annual inflation rate? Write the a...

A: Inflation: It is the overall rise in the prices of goods and services/ rate of growth in prices.   T...

Q: . A consumer has  ·100 hours of time to allocate to either labor or leisure ·A real wage w=50 ·Divid...

A: Hi! Thank you for the question as per the honour code, we’ll answer the first question since the exa...

Q: Consider an economy with a large agricultural sector. A long period of drought hits the country. Usi...

A: Capital can be occupationally mobile if it can be used for more than one purpose. For example delive...

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: uestion 20 0/1 pts Most of the short-run fluctuations are the result of demand shocks uncertainty ca...

A: Answer 20 - c) can’t determine because short run fluctuation are caused due to change in labour , ca...

Q: Explain the concept of interest rates in terms of prime, money markets, repo and borrowing rates

A: Money market is the market i which trading of financial instruments having high liquidity take place...

Q: Suppose that scientists find evidence that proves tattoos improve the body’s immune system. What wou...

A: Option C If tattoos improve body's immune system, more and more people would want to have tattoos. T...

Q: The social optimum occurs where price is __________ and quantity is __________.

A: The social optimum is at Social cost equal to price.

Q: 3. (a) Using appropriate diagrams, explain the derivation of BT curve. (b) Using AD-BT-ERU and WS-PS...

A: The balance of payments is commonly known to be made up of two primary component accounts, the curre...