Consumers, firms, and governments face __________ because we are faced with the problem of ___________. (A) Marginal analysis; scarcity (B) Specialization and trade; normative economics (C) Trade-offs ; specialization (D) Trade-offs; scarcity (E) Marginal analysis; trade-offs
Q: Which of the following is NOT a requirement in selecting a policy instrument? Question 4 options:...
A: Policy instruments refer to a link between the formulation of policy and the implementation of polic...
Q: Which of the following is NOT TRUE about bond valuation? * a. Bonds can sell either for a discount ...
A: The answer is - d. None of the choices.
Q: How do preferences on the available vaccine for COVID19 affect or contribute to microeconomics? Plea...
A: The word "Micro" means "Small" and "Economics" is the subject matter that deals with the economical ...
Q: Why is it important to know how to identify topic sentences or thesis statements?
A: A topic sentence is a sentence that summarises a paragraph's main idea. It encapsulates or organises...
Q: The data below are from the economies of Ishgandar and Nonburmia. Ishgandar Nonburmia ...
A: Production possibilities curve shows different combinations of two goods that can be produced with t...
Q: la. What are the determinants that shift the demand curve, define and list 4 conditions. 1b. What ar...
A: 1.a). There are some determinants that can shift the demand curve are mentioned below: 1). Change in...
Q: AC1 AC2 AC1 AC2 LRAC 01 02 Output per time period Refer to the graph above to answer this question. ...
A: The expenses that are being incurred by the business for carrying out its day-to-day transactions ar...
Q: Alizeh and Kelly were traveling together and have gotten stranded at an airport overnight. They have...
A: When we produce the commodities and services that people value the most, we have an efficient use of...
Q: The supply and demand curves for a product are given by the following equations: P = aQs + b and P= ...
A: Given information Demand function P=cQd+d Supply function P=aQs+b new demand function Q=1520-5P P=18...
Q: Now imagine that you are the manager of a national champion company. Which are the two main factors,...
A: Rules and regulations The strategic management and conduct of a company is influenced by changes in ...
Q: What is the future value of an annuity of $10,800 invested every year for the next 11 years starting...
A: Here, P = $10,800 i = 0.096 n = 11 Now, Future Value of Annuity (FVA) is FVA=P x(1+i)n-1i =10,...
Q: 1. After the completion of the Associate Degree (first 2 years of college education), you have a cha...
A: Human capital refers to the economic value that a worker adds through the skills and experience acqu...
Q: What is the difference between original works and derivative works?
A: In economics, the terms original work and derivative work can be used to explain the source of data ...
Q: The supply and demand curves for a product are given by the following equations: P = aQs + b and P =...
A: Given information Demand function P=cQd+d Supply function P=aQs+b new demand function Q=1520-5P P=18...
Q: > Consider this total product function with a single variable input, labor (L) per day: TPL = Q(L) =...
A: Total Product refers to the sum of all the products whether goods or services that are produced by a...
Q: Humanity is faced with a tough choice, work or leisure. Within the theory of consumer behaviour, app...
A: Consumer optimization occurs where the budget line is tangent to the indifference curve. The indiffe...
Q: Consider the following consumption problem commonly referred to as the "cake- eating" problem. The c...
A: Consumption function means the positive relationship between consumption and disposable income. The ...
Q: onsider the “Trip Logistic” example discussed in class (i.e. base case). Please solve the same probl...
A: Introduction Spot market price has given. a) Spot market price is reduced to - $ 0.55. Let the deman...
Q: Market demand is Qd = 100 - p. Market supply is Qs = 4p. A competitive firm has MC = 2Q. How many fi...
A: In perfectly competitive market, firms are price takers which shows firms do not have control over t...
Q: Answer these questions on a separate sheet of paper. -3 Consider the game defined by the matrix: P =...
A: Payoff of the game is : Player 2 -3,3 1, -1 (0.4) & then (0.7) Player 1 4...
Q: Analyze whether the following statements based on the 3 components in deriving the AS curve are true...
A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...
Q: Two states, A and B, have signed an arms-control agreement. This agreement commits them to refrain f...
A: The Tit-for-Tat Strategy is defined as a strategy which states that if a player cooperates with anot...
Q: Consider a good X sold in a monopolistically competitive market. Let the domestic government impose ...
A: Different countries have different currencies all around the world. For example United States of Ame...
Q: 7 Q. China is known to price its exports differently in international markets compared to price in i...
A: Trade is important for countries all around the world. In trade, exports and imports of goods and se...
Q: There are 2 firms (i = 1,2) in an economy, which use capital only to produce final output. The produ...
A: Introduction There are two firms in the economy. The economy use only capital to produce final outpu...
Q: U = x/y U = min{2x, 3y} U = 2x + 4y U = yx +y тіп
A: Indifference Curve : An indifference curve is a curve showing the different bundles of goods in a tw...
Q: The management of an electrical store has determined that the market for vacuum cleaners can be desc...
A:
Q: The Laspeyres index is the ratio of the price of goods at prices to the price of goods at prices. O ...
A: Laspeyres index refers to the price index of Fixed quantity of goods and services
Q: Part B The equation of the demand function for luxury sparkling wine is given by QD = 1520 – 5P wher...
A: Tax refers to the collection of money by the government of a place to cover their expenditures relat...
Q: A given change in taxes shifts the aggregate demand curve by than an equal change in government spen...
A: We know that the Government Spending Multiplier = 11- MPC and the Tax Multiplier = MPC1 - MPC
Q: why the consumption of non durables relatively smooth as compared to durables
A: Durable goods are basically considered as those goods which have the long life value. And can be use...
Q: CAPITAL 10 15 LABOR O 0 0 0 1 20 20.7 20.5 2 38 39.3 40 3 54 57 58.5 4 68 73 76 5 80 87.3 92.5 6 90 ...
A: Introduction Its answer is It has decreasing returns to scale at all level of capital. Table of prod...
Q: More and more global business firms are becoming stateless corporations. Do you think this may benef...
A: Multinational corporations conduct business in at least two countries. A multinational corporation i...
Q: The supply and demand curves for a product are given by the following equations: P = aQs + b and P =...
A: Given information Demand function P=cQd+d Supply function P=aQs+b
Q: Graph the following a. Flood destroys the rice crops. Demand remains constant. Show effects on marke...
A: Disclaimer: Since you have posted a multi-part question, I am providing you with the answer to (a), ...
Q: An increase in productivity in a country will cause its currency to ________ because it can produce ...
A: When there is an increase in productivity, more output is produced so the value of currency improves...
Q: Calculate the B/C ratio (modified) of a building that houses students during their classroom discuss...
A: The cost refers to the total expenditure of goods and services in the market. It means as the cost r...
Q: As of January 1, 2022, the population of the Philippines was estimated to be 112,321,991 people. Is ...
A: Employment means the people are working for getting a higher salary. It means as the higher salary i...
Q: In an economy, under its monetary policy with floating exchange rates, when an Open Market Sale (OMS...
A: The effect of an economy's exchange rate on export and import prices influences aggregate demand, an...
Q: With an inverse demand equation of P = 10 – 0.05Q and an inverse supply equation of P = 1 + 0.10Q: ...
A:
Q: (2) A study indicates that spending money on pollution control is effective up to a point but eventu...
A: New research from Greenpeace Southeast Asia and the Centre for Research on Energy and Clean Air deta...
Q: 1. In answering the question, you should emphasize the line of reasoning that generated your results...
A:
Q: 1. Present Value Costs Your company wants to bring outdoor ice-skating to Palm Springs, California a...
A: Answer a. The annual cost of owning and sustaining an asset is calculated by multiplying the net pre...
Q: A commercial bank is planning to offer Luna a loan in the amount of $15,000 and the bank figures tha...
A: To repay the loan, Luna's bank figures the loan amount and offer by the interest rate and probabilit...
Q: Q Where P is the monthly U-Tunes subscription price. PH is the subscription price for Spotify, and I...
A: Elasticity of demand measures the responsiveness of quantity demanded with respect to change in pric...
Q: Problem Solving: Pls. Include your cash flow diagram. Show complete solution. 1. A newly-built busin...
A: Real estate, bonds, stock and even fine art, can all be used to calculate a rate of return (RoR). To...
Q: The table gives disposable income (DI), consumption (C), and savings (S) data for the country of Cor...
A: The sum of marginal propensity to consume and marginal propensity to save is equal to 1. Income is e...
Q: Suppose Diane's utility function is U=VIncome . Diane earns an income of 00, but there is a 15% chan...
A: The premium of insurance is decided based on the expected values.
Q: central bank does not want to see its currency fall in value, it may pursue ________ monetary policy...
A: To decrease the exchange rate, the central bank can lower the interest rate and increases the money ...
Q: The supply and demand curves for a product are given by the following equations: P = aQs + b and P =...
A: Given information Demand function P=cQd+d Supply function P=aQs+b new demand function Q=1520-5P P=18...
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Economics The six environmental forces are competitive, economic, political, legal and regulatory, technological, and sociocultural. With which are each of the following most associated? One word per answer. questions. Answer Questions A. _____________Prosperity B. _____________Federal Trade Commission C. _____________Personal computers that understand human speech D. _____________Development and widespread use of cellular phones E. _____________People’s willingness to spend F. _____________Contributions to campaign funds G. _____________A society’s high material standard of living H. _____________Sherman Antitrust Act I. _____________Better Business Bureau J. _____________Consumerism K. _____________Discretionary income L. _____________Food and Drug Administration M. _____________A monopoly N.…1. Introduction – South African economic system (half a page is recommended) 2. Strengths of the South African economic system (1 page is recommended) - Identify and discuss the strengths/ features separately as subheadings here (highly recommended) e.g. 2.1; 2.2; 2.3; 2.4; 2,5 etc. 3. Weaknesses of the South African economic system (1 page is recommended) - Identify and discuss each weakness/ feature separately as subheadings here (highly recommended) e.g. 3.1; 3.2; 3.3; 3.4; 3,5 etc. 4. Conclusion and recommendations (half a page is recommended) List of References (Havard style or APA referencing style is recommendedQ-4: Give an example of a positive statement and an example of a normative statement that somehow relates to your daily life. • Name three parts of government that regularly rely on advice from economists.
- Which of the following is NOT one of the key fundamental economic questions of an Economic System? Question 26 options: What to Produce? How to Produce it? The Government putting a tax on a Product? For Whom to Produce it?1. Which of the following is NOT a normative statement? Select one: a. higher interest rates should lead to increased savings b. inflation is more harmful to Ghana than unemployment c. if its minimum wage falls, Japan will be a better place d. the benefits to the economy of improved equity are less than the costs of reduced efficiency 2. Which of the following is not necessarily an outcome of international trade? Select one: a. goods being obtained at lower opportunity cost b. people specialize in activities in which they have a comparative advantage c. all individuals within trading countries benefit d. more efficient resource use 3. If a 8 percent increase in income results in a 10 percent increase in the quantity demanded of lattes, what is the income elasticity of demand for lattes, and what type of good is lattes? Select one: a. negative, and therefore lattes are a normal good b. negative, and therefore lattes are an inferior good c. positive, and therefore lattes…3. The organization of economic activities that involve the production and distribution of goods and services among the people refers to. a. Factors of production b. Economic system c. Central planning d. Economic factors
- True or false? Part A.Millionaires do not face the problem of scarcity. Part B.The factors of production include all goods and services produced in an economy. Part C.The United States is one of the least “marketized” economies in the world.1.Which of the following resources is the most rival? A- A music concert at a city park. B-A full moon. C-An interstate highway D-A zoo. E-The labor of a hair stylist 2.Which of the following is considered a basic economic question? A-What are the most advantageous terms of trade? B-When does marginal cost equal marginal benefit? C-Which economy enjoys a lower opportunity cost for this good? D-What is essential knowledge to pass on to the next generation? E-What goods and services should be produced?Question Evidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly, damages water quality. A) Explain in words how you would draw a production possibility curve to depict this (which “good” should be placed on each axis) and why your curve would have a particular shape. B) In what ways does the production possibilities curve from part a) reflect scarcity, choice and opportunity cost? C) Discuss THREE possible impacts of an improved fertilizer on the production possibility frontier from part a.
- 24. Production possibility curves can be used to illustrate scarcity, trade-offs, opportunity costs, technological advances and economic growth. Group of answer choices A. True B. FalseTHIS IS MULTIPLE CHOICE (may you please select the correct letter) Question 6 Explain how the following situations would affect a nation’s production possibilities curve. An earthquake results in the death of over 4,000 individuals. What happens to PPF a. Increased production given resource b. unused resources c. PPF shifts outwards d. Produce outside of PPF e. Produce inside PPF f. Increases in resources g. PPF shifts inwards h. Reduction in resources Explanation a. Increased production given resource b. unused resources c. PPF shifts outwards d. Produce outside of PPF e. Produce inside PPF f. Increases in resources g. PPF shifts inwards h. Reduction in resources Question 7 Explain how the following situation would affect a nation’s production possibilities curve What happens to PPF a. Increased production given resource b. unused resources c. PPF shifts outwards d. Produce outside of PPF e. Produce inside PPF f. Increases in resources g. PPF shifts inwards h. Reduction in…1. Which of the following is not a normative statement?a. The military budget should increase at the same rate as GDP.b. The government should play a limited economic role, ensuring that private contracts are enforced.c. Integrated schooling has increased the level of literacy among minority groups.d. A tax on imported oil should be used to reduce the government deficit.
