Classity ach of the following statements as pestive or nomative Statement Positive Normative Firms can increase sales by lowering product prices Lower ta rates encourage more work and more saving Economic development should not take place at the epense of sedal justice Seciety should reduce polution at al conts

Q: Define the natural rate of unemployment and cyclical unemployment

A: Unemployment is a situation in which a person who is willing and able (capable) to work do not find…

Q: Consider a competitive firm that has access to a technology described by the following production…

A: y = √x1 + x2 Checking for constant returns to scale: y = √ax1 + ax2 y = (a)0.5x1 + ax2 We cannot…

Q: In the after-math of the financial crisis of 2008, the Federal Reserve bank started paying interest…

A: During the era of year 2000 the return from the treasury bonds were low and at that time the…

Q: Labor and voluntary Underemployed Discouraged force workers workers part-workers 155 140 million 7…

A: The unemployment rate is calculated by dividing the number of unemployed people by the total number…

Q: What factors determine a country’s level of trade? What is the difference between the balance of…

A: A country's balance of trade is an important component of its balance of payments and a key…

Q: A.1 Individuals in a market each have a total budget y to spend on two goods q1 and q2 at the prices…

A: Prices are such that individuals consume positive quantity of both the goods which means that…

Q: If a good is inferior, a rise in its price will cause people to buy more of it, thus violating the…

A: If a good is inferior, a rise in its price will cause people to buy more of it, thus violating the…

Q: If the utility function (U) between food (F) and clothing (C) can be represented as U= F*C, then…

A: a rational consumer always try to spend their scarce resources on goods which give them higher…

Q: As new firms enter a monopolistically competitive industry, the demand and marginal revenue curves…

A: The structure of a market where firms compete against each other and tend to sell products that are…

Q: Consider a numerical example using the Solow Growth Model, for 2 countries. Country A: d=0.1,…

A: GDP per capita gauges the economic result of a country per person. It looks to decide the prosperity…

Q: lon. On the day that both franchises opened for business, each owner was observed changing the price…

A: Q=120-5P Or, P=1/5(120-Q) Marginal cost =$3

Q: Consider an AK model of endogenous growth. If the aggregate production function is given by Y=1.5K…

A:

Q: Briefly discuss the utilitarian, right, and justice arguments against discrimination.

A: Discrimination based on economic grounds is known as economic discrimination.Job availability,…

Q: Thirteen students decide to vote on whether to play basketball B, soccer S, or volleyball V after…

A: Voting refers to the process of choosing leaders or for taking decisions over a set of preferences.…

Q: What happens in the AD-AS model when the Federal Reserve buys government securities?

A: Federal reserve is responsible for conducting monetary policy in an  economy. Open market operation…

Q: e StackeIDerg iollower produces less han ue Coumot ouiput. A price taking firm has zero fixed cost…

A: Price taking firm are mostly is in the form of   perfect competition market where large number of…

Q: The following Figure 1 is an edited version of an image discussed during the course. Use it to…

A: Balance of Payment  Balance of Payment is a statement of a country that shows the Inflow and Outflow…

Q: 2019 2020 Year Adult population Number of employed Number of unemployed 2018 2000 3000 3200 1600…

A: Introduction Whitney start taking the bus to work instead of driving due to gas price rising. Now…

Q: For each of the following situations, find the critical value(s) for z or t. a) Ho. p=0.6 vs. HA p…

A: A) the test is two tailed. Alpha is 0.05  So the critical value becomes  +1.96 and -1.96

Q: (a) Why does an 'external social cost' lead to inefficient overproduction? (b) The table below…

A: Externalities is the spillover effects of an economic activities that have an impact on society's…

Q: QUESTION 2 If Z = (XY)2, and we know that the annual growth rate of Z is 3%, and the annual growth…

A: Growth rates refer to the percentage change of a specific variable within a specific time period.…

Q: The table shows employment statistics for a fictional country. Use the information to answer the…

A: disclaimer - as You posted multipart question we are supposed to solve the first 3 question only as…

Q: All of the following affect the labor market EXCEPT Social change O population shifts the economy…

A: A labor market basically refers to a gathering place for workers and employers to engage.Employers…

Q: 1) Utku's company is monopoly in the oil market. Demand equation in this market is given as: Q = 100…

A: A monopoly is a dominant position of an industry or a sector by one company, to the point of…

Q: Prices, Pc & PF 50 Sip) 45 40 35 30 25 20 15 10 5- D(p) 8 10 12 14 16 18 20 Quantity, q 2 4 6 The…

A: Answer is given below

Q: In response to high rates of obesity among residents living in low-income communities in Oklahoma,…

A: The question is somewhat related to health economics as the health department is trying to help the…

Q: The automobile industry in Macroland successfully lobbies for import quotas that result in…

A: A quota basically refers to a government-imposed trade restriction that restricts the quantity or…

Q: 7

A: The outcome of a situation of interactions between persons with competing interests is studied by…

Q: Compared to a competitive labor market, workers participating in an inclusive union will enjoy…

A: In a competitive labor market, equilibrium wage rate is determined by the intersection of demand and…

Q: Define state aid and explain its economic rationale.

A: A government benefit that gives a corporation an unfair competitive advantage over its competitors…

Q: For a certain potential investment project, we have the following estimates: Capital investment I…

A: Given information Initial capital=$100000 Annual revenue=$30000 Annual expenses=$9000 Market…

Q: QUESTION 27 Show Your Glow is a skincare products manufacturer whose products are patented and made…

A: 27. The products becomes expensive in Great Britain.

Q: Contrast floating exchange rates, a soft peg, hard peg, and merged currency as options that a…

A: A floating exchange rate is when the value of a currency is permitted to fluctuate in reaction to…

Q: Note: make sure draw the graphs and label everything clearly! You will need to upload your answers.…

A: Demand refers to the consumers’ willingness to buy a good or service in the market. It depends on…

Q: The table below shows the quantity demanded and supplied at various wage rates for a competitive…

A: Equilibrium in the labor market occurs where quantity demanded equals quantity supplied of workers.

Q: How will the following issues shape compensation professionals' work for years to come: Increased…

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

Q: 7. What is the cost in real dollars today of spending $25,000 four years from now if your effective…

A: Inflation is the rate at which the worth of a money is falling and, therefore, the general degree of…

Q: The price of Samsung mobile phones rises from £175 to £125. This leads to an increase in the…

A: The cross-price elasticity measures the responsiveness of the quantity demanded of good x when the…

Q: Given the following three mutually exclusive alternatives, Alternative в A C Initial Cost $50 $30…

A: The answer is given below

Q: 1. XYZ corporation produced 350 units output and sold for a price of $80. The average cost of…

A: XYZ corporation produced 350 units output and sold for a price of $80.  Average cost=  $650

Q: State the implications of the weak axiom of revealed preference (WARP) for consumer choice. The…

A: This axiom states that given incomes and prices, if one product or service is purchased instead of…

Q: 1. Please complete the table, MP and AP 2. Draw the graph in Excel 3. Identify the different phases…

A: Labour TP MP AP 0 0 --- 0 1 3 3 3 2 5 2 2.5 3 9 4 3 4 15 6 3.75 5 23 8 4.6 6 33 10 5.5…

Q: The imposition of a tariff on a product is least likely to result in a(n) O increase in the price of…

A:

Q: What are the actors that facilitate economic globalization. Discuss each of them.

A: Economic globalization is defined as the movement of capital, goods, service,  information, and…

Q: a list of instructors that describe exactly how to respond to any possible situation is a -check…

A: Checklist is a list of things that can be checked as completed or noted. Game tree is a chart which…

Q: After graduating from college in 2010, Art Major's starting salary is $35757.00. Suppose Art Major…

A: Here, it is given that Art Major has the salary of $35757.00 in 2010 and the table gives the…

Q: Discuss in detail the limitations of the IS-LM Model.

A: The IS-LM Model or "investment-savings" (IS) - "liquidity preference-money supply" (LM) is the…

Q: Assume Figure 2 represents the private marginal costs and benefits of Producing one ton of Steel.…

A: Equilibrium in the market occurs at the intersection of mr and mc curves.

Q: There are two towns, A and B, each with a plant emitting pollution. The emission from plant Ais…

A: Pollution tax is a relatively new occurrence in which a fee is levied on the emissions of businesses…

Q: Business Cycles are fluctuations about trend in real GDP. Identify and explain one of the most…

A: Business cycles are a sort of variation in a country's overall economic activity.A cycle consists of…