Define Economics and its Types?

Q: Michael started to work in 2001 at an annual salary of £20500, she received a £1100 raise each year....

A: Here, it is given that the initial amount of salary received by Michael is £20500  in 2001 and he re...

Q: What is the current International Monetary System called and how was it established?

A: An international monetary system is a set of internationally concurred rules, shows, and supporting ...

Q: $6.00 $1.50 1 5.50 5.00 2 5.00 7.50 3 4.50 9.50 4 4.00 11.00 3.50 12.00 6. 3.00 12.50 7 2.50 13.50 8...

A: We must remember that the profit maximization occurs at the point where the marginal revenue and Mar...

Q: In the Heckscher-Ohlin-Vanek model, labour productivities in the production of a good in the differe...

A: Heckscher-Ohlin-Vanek model The Heckscher-Ohlin model was created to forecast international trade pa...

Q: C. Graph the isoquant for Qo = 20 and the isocost line. Label the tangency point E.

A: The cobb Douglas Production function The production function in the long run is Y=A(LK,N) Y= output ...

Q: Global outsourcing, is it good? because US business can take an advantage of cheaper foreign labors ...

A: Global outsourcing enables businesses to find partners in various parts of the world to carry out so...

Q: Which of the following is TRUE about tariffs?   Question options:   Tariffs cause imported product ...

A: A tariff is an expense required by legislatures on the worth including cargo and protection of impor...

Q: Question: Orla manages a loom that produces flags (F) using thread (T) and dye (D) as inputs. Her pr...

A: Given  The production function of flags Q(T,D)=T1/2D1/21/2                 .... (1)

Q: Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand giv...

A: Elasticity is the concept used in economics to determine the changes in quantity demanded due to cha...

Q: For each of the following insurance plan designs, use a supply and demand graph to show how it would...

A: Insurance Insurance is a contract in which a person or organization gets financial protection or com...

Q: An asset for drilling was purchased and place in service by a petroleum production company. Its init...

A: Every machinery after being purchased goes through wear and tear and thus losses it value what it wa...

Q: CAPITAL BUDGETING can be most accurately defined as which of the following? O A. The process during ...

A: Capital budgeting is a process that is used by businesses for the evaluation of major projects or in...

Q: On average, people sleep 8 hours per day meaning that each individual has 16 hours per day to alloca...

A:

Q: uppose that out of the original 100 increase in government spending, 60 will be recycled back into p...

A: Savings are the amount of money that an individual sets aside from his total income.

Q: |10 – 3x|≤ 17

A: 10-3x = 17 3x = -7 X = -7/3 -10+3x = 17 3x = 27 X = 9

Q: Below are the short-run data of a representative firm in a perfectly competitive industry. The marke...

A: In perfectly competitive market price is constant so it is equal to marginal revenue. Firms maximise...

Q: Inflation calculation: CPI basket: 1,400 kg pork, 1,600 kg chickens) Price of chicken(baht per Price...

A: CPI measures the cost of market basket of goods and services purchased by a consumer in a specific y...

Q: (2) The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q...

A: We have given that the demand function is q=800-20p             .... (1)  

Q: q bos ame imse nodudidnoo rip) aigam-Jeerigiri erlt to eelsa rlau9 aiaylens nigneM When a business h...

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

Q: Related to the Economics in Practice on p. 509: In Santa Cruz, red feathers from the Scarlet Honeyea...

A: Money is a commodity that is used to buy goods and services.

Q: In the specific factor model, with free trade the relative price  of imported goods cannot be  _____...

A: The specific Factor model was originally discussed by Jacob Viner. The name of the model gives its d...

Q: Consider and explain the potential impact that energy has on the education, health, housing, employm...

A: Energy economics is one such segment of economics which studies about energy resource and energy com...

Q: Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand giv...

A: Q=378-2P2P=378-QP=378-Q2P=189-Q2Now,TR=P×QTR=189-Q2QTR=189-Q22Thus,MR=∂TR∂QMR=189-Q

Q: People tend to view car travel as being safer than airplane travel, but a person is how many times m...

A: Odds of dying in a car accident is more than dying from an airplane crash.  Odds of dying in a car a...

Q: Determine the present worth of the following cash flows based on an interest rate of 7.63% per year,...

A: The present value of any series of cash flows is equal to the sum of the present values of the indiv...

Q: In international relations Forgiving strategies are Group of answer choices (pick one) a.bad for coo...

A: International relations is the study of the interaction of states with each other and with internati...

Q: General questions Howshould the optimal price of carbon be set? Which alternative approaches are av...

A: Carbon pricing is an effective way to reduce global carbon emissions by assigning a monetary value t...

Q: Two firms produce Bliffs. They compete by simultaneously choosing prices in a single period. The dem...

A: Monopoly is a market where by a single supplier dominates the whole market and duopoly is a market s...

Q: The government of Rohan has has recently increased the amount of taxes that it collects from its cit...

A:   The demand curve in loanable funds market represents demand by businesses for investments and borr...

Q: croom employees who unpack and prepare clothing for displays are mostly young Asians and an American...

A: Option 2 Race  

Q: Consider two developed and developing countries, the population growth rate of developed countries i...

A: Given that; The population growth rate of developed countries is 2 % per year Saving rate = 30% The ...

Q: According to the National Baseball Hall of Fame, at the end of 1979, the pitcher Nolan Ryan signed w...

A: Consumer Price Index The Consumer Price Index is an instrument by which we can measure the inflation...

Q: Activity 2. The Law of Demand and Supply Directions: Analyse this problem. The following data were t...

A: Answer (2.1): The graphical presentation of the demand curve is given below: According to the above...

Q: 4. How would you feel defending a client that you knew was guilty?

A: We'd all be Fat Cat Lawyers if a criminal lawyer had a pound for every time they were asked this que...

Q: factors which could have an impact on the demand and supply ofoil in the near term. whether on bala...

A: Crude oil is critical to the functioning of developed countries, with 84,249,000 barrels consumed ev...

Q: Danny has 40 hours per week to allocate to work and leisure. He is currently paid an hourly wage of ...

A: People are more willing to work when wages rise because the opportunity cost of leisure rises. This ...

Q: Will the TRAIN law lessen or worsen poverty and income inequality in the country of Philippines? How...

A: When a producer or consumer good is manufactured, cost  takes place and process of business follow u...

Q: Jennifer faces a (non-monetary) fixed cost of work: she spends a substantial amount of time commutin...

A: Here, given graphs shows the budget constraint of Jennifer. Jennifer faces a fixed non-monetary cost...

Q: Q2 /Discuss why are international financial institutions important for growth economy around the wor...

A: When talking about international financial institutions, they include international monetary fund, w...

Q: Which of the following is most likely to operate under a perfectly competitive market? 1) A neighbor...

A: Perfect competition is a market condition there is a large number of buyers and sellers selling an i...

Q: Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent ...

A: "Implicit costs refer to the opportunity costs i.e. the cost of resources which the business owns th...

Q: How many years will be required for a given sum of money to be 8 times the principal amount, if it i...

A: Compounding refers to an asset's ability to generate returns that are then reinvested or remain inve...

Q: Question 15 Texas Sardines produced $14 million worth of cans of sardines. In producing these cans o...

A: GDP refers to Gross Domestic Product which includes the following components: consumption, investmen...

Q: Maria manages a bakery, that specializes in ciabatta bread, and has the following information on dem...

A: "Profits are maximized at a point where the difference between total revenue and total cost is maxim...

Q: Sven runs a daycare for some of the neighborhood children, where he earns $300/day in revenue. He ru...

A: Here, some information about revenue band cost related to Sven's daycare job.

Q: What is the future value of $1,540 invested for 5 years at 5% interest compounded monthly? Round you...

A: Given: The principal amount is = $1,540 Years = 5 The rate of interest is = 5% compounded monthly To...

Q: Monique has a flock of six chickens in her backyard that she initially bought for $6 each. The flock...

A: The economic profit states the total revenue minus costs, including opportunity cost. The formula fo...

Q: In the following scenarios, you will be given a product and an event. Determine what will happen to ...

A: There are various non price determinant that causes to shift the demand curve: Income of the Consum...

Q: Situation: 75% of voting shares are held by charitable institutions that are headed by the CEO of a ...

A: Voting shares are shares that give the shareholders the right to vote on specific decision of the or...

Q: A carpenter quits his job at a furniture factory to open his own cabinetmaking business. In his firs...

A: Given, Average sales per year= $100,000 Average operating cost per year= $70,000