Determine if the following statement is normative or positive: Americans should have access to food, regardless of income. a. Normative b. Positive c. Both d. Neither

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q-321-2P and Market Su...

A: First we need to solve for the equilibrium price and quantity. 321-2P=4P⇒P*=3216=$53.50Q*=4*53.50=21...

Q: Which of the following best characterizes the circular flow of income? Businesses buy resources from...

A:

Q: It cost P66,327 at the end of each year to maintain a section of Kennon road in Baguio City. If mone...

A:

Q: In the short‑run specific‑factors model, consider a decrease in the stock of land. For example, supp...

A: a. The decrease in arable land will decrease the supply of land for planting crops therefore supply ...

Q: On February 19, 2026, Anna will need P 40,000. Assume that the annual effective interest is 7%. How ...

A: Given the information: The time period between 25th March to 2022 to 19 February 2026 = 3 yr 10 mont...

Q: Professor Steven and Professor John are going to produce a new introductory textbook. They face the ...

A: Given: Production Function: q=S1/2J1/2 Number of hours spent by smith (S)=900 Smith's value of worki...

Q: Problem 9-09 If a firm has sales of $24,058,000 a year, and the average collection period for the i...

A:

Q: Production Function. Consider the Cobb-Douglas production function discussed in class: F(K, L) = AK...

A: The Cobb–Douglas production function is a functional form of the production function that is widely ...

Q: With an example, illustrate how the multiple deposit contraction process influences money supply.

A: Deposit Contraction - If banks have extra reserves, they can lend more and expand the money supply. ...

Q: 3. Consider the following game in extensive form X- Playert + Player 2 D. (a) What is the normal for...

A: Given,  There are Two Players : Player1 and Player 2 Player 1 has two strategies : B and T Player 2 ...

Q: In a given year, a country has $150 million more in imports than in exports, has to pay $25 million ...

A: Given: (Export-Import)=$150 million Interest Payment=$25 million Work Remittances=$100 million    

Q: If a 6% increase in price leads to a 12% decrease in quantity, then we can conclude that the price e...

A: Here we calculate the following by calculating elasticity and other relevant formula and choose the ...

Q: Using the formula for present worth (1+n)t In how many years will $10000 accumulate to $25000 at 18%...

A: Here we calculate the number of year by using the given formula and information , so the calculation...

Q: How much should be invested now (at present time) at 8% compound interest per year, in order to  rec...

A: In the question above, it is given that : Rate of interest = 8% = 0.08 Amount = $1360.5 Time period...

Q: Assume that the US economy expands and that the US Federal Reserve Bank, worried by rising inflation...

A: If there is an expansion in the United States, it will lead to arise inflation in the economy due to...

Q: A monopolist serves a market with five potential buyers, each of whom would buy at most one piece of...

A: Monopolist has domination and control over the market for a particular good or service.

Q: Real GDP Consumption Planned investment Planned aggregate Unplanned inventory (in billions) (in bill...

A: * SOLUTION :-  Given that,   

Q: As a result of financial innovation, which of the following is TRUE? I. Variable interest rate mortg...

A: Answer-

Q: (a) A man bought a Ford vintage car for PhP 210,000 on installment basis at the rate of 12% compound...

A: Here we calculate the followings terms by using  the given information and conclude the statements s...

Q: 1. The following headline appeared in the London Times, "England's sheep population nearly destroyed...

A: Ss(supply) curve is a positively curved line which shows the direct relation between P(price) and Qs...

Q: 1. Using the data, the following equation was obtained by OLS: log(salary) = 4.32 + 0.600 log(sales)...

A: Answer-

Q: 1) What's the opportunity cost of a typical college education? What's your personal opportunity cost...

A:   "Since you have posted a question with multiple sub-parts,we will solve first three sub-parts for ...

Q: “The Security Market Line is flatter than the ‘Capital Asset Pricing Model’ (CAPM) would predict.”  ...

A: The security market line (SML) is a pictorial depiction of the capital asset pricing model (CAPM), w...

Q: Under conditions of purchasing power parity (PPP), a country with a relatively _______ expected infl...

A: Purchasing Power Parity is used as a measure to compare the productivity and standard of living betw...

Q: Question 1 (2 points) Given the following data, what is average labor productivi Real GDP/person $50...

A: Labor productivity refers to total output divided by number of labours employed

Q: 3. Boyoung is writing a paper about the effect of Sunday liquor sales on drunk driving. She has pane...

A: Regression determines the relationship between dependent and independent variables which results fro...

Q: Which of the following would be a credit item in the UK balance of payments?      A) A UK company s...

A: Balance of payment is a statement which records all the monetary transactions made between residents...

Q: If the cost of producing Good A falls, this will cause      A) an increase in the market price of G...

A: In a market, the cost of producing any good influence the market equilibrium due to change in the de...

Q: A man who retired becomes bored with retirement and begins to look for a job. During the time he is ...

A: Answer: Let us consider that the man who is retired now was working in a sector where retirement hap...

Q: 2. Shont nun osf funchion 4 a penfeetly Competitive tinm is, CcQ = Q3 - 45Q71000 Q +800 find the amo...

A: Profit Function (π) = TR - TC where, TR is total revenue TC is total cost and TR = P * Q

Q: A certain bank advertises that they pay 8% compounded quarterly. What is the effective interest rate...

A: Given:- Compounded quarterly=8% or 0.08 Deposit=P5000 Time=3 years To calculate:- Effective interest...

Q: 5. Supply: Basic concepts Complete the following table by selecting the term that matches each defin...

A: since you have asked multiple questions and according to our policy we can solve only the first part...

Q: What is the formula for the price elasticity of demand? The percentage change in the A) quantity dem...

A: Price elasticity can be divided into: 1. Perfectly elastic demand: When a small change in price caus...

Q: Given the existing problems with its airbag system, Honda Motors has experienced a decline in sales...

A: An airbag is a driver and passenger system in a car that uses a bag that inflates and deflates quick...

Q: discretionary

A: In an economy, government imposes taxes on the citizens to make different types of economic activiti...

Q: The first cost is $300,000; the annual operating cost is $40,000; the annual labor cost is $60,000. ...

A: Below is the given values: First cost = $300000 Annual operating cost = $40000 Annual labor cost = $...

Q: 2-8b What are the characteristics of a long butterfly spread: b. cost unction

A: Butterfly spreads are options strategies that combine bull and bear spreads with a defined risk and ...

Q: Amy is facing the following decision problem with monetary outcomes, expressed in terms of changes i...

A: Given,  Amy's decision problem with monetary outcome There are two acts : a and b There are two sta...

Q: 1.5) What are the financial benefits are reported by the organization after the successful implement...

A: Many organisations produce the goods with sustainable development. The organisation which provide he...

Q: Question 17 Figure 3: Production possibilities frontier baneries bagels Refer to figure 3. Which of ...

A: Which of the following events would explain the shift of the production possibilities frontier from ...

Q: What term accurately describes demand when the quantity demanded is very

A: Elastic

Q: The price elasticity of demand for a popular sporting event is 0.4. If the price of a ticket to this...

A: Price elasticity of demand=% change in quantity demanded%change in price0.4=% change in quantity dem...

Q: The table contains information on the price per month and the monthly demand and supply of online mu...

A: The equilibrium quantity could be identified when quantity demanded equals to quantity supplied that...

Q: Prices have risen by 65% over the last 10 years. What is the average yearly inflation rate over this...

A: Inflation is the rate of increase in prices over a given period of time. Inflation is typically a br...

Q: The price of apples falls by 5% and quantity demanded increases by 6%.  This means that the demand f...

A: Finding the change in quantity required in response to a change in the price of the good is how pric...

Q: Are ASEAN countries still experiencing absolute poverty, name the country and present some data base...

A: ASEAN, or the Association of Southeast Asian Nations, is a political and economic union in Southeast...

Q: An economy is producing two goods, chocolate and cookies, and is currently operating effici circumst...

A: We can see the following question.

Q: A coupon bond with a face value of $1200 that pays an annual coupon of $200 has a coupon rate equal ...

A: A coupon is the interest payment received by a bondholder from the date of issuance to the maturity ...

Q: Question Under what conditions would a transfer of income from the richest 10% of the population to ...

A:

Q: An increase in supply, not caused by a change in market price, is represented byA) a move down the g...

A: The amount of a resource that firms, producers, laborers, financial asset providers, and other econo...

Laffer Curve Analysis

In terms of economics, the Laffer curve was popular among those economists who were or who belonged to the supply side of the economic peripheral.  This concept was popularized by the famous supply-side economist known as Arthur Laffer. This curve illustrated the relationship between the tax rates and government revenue. It is already known that the tax which the public or individuals residing in an economy bear is the revenue or income of the government with the help of which the government does all the necessary works in the society, which is beneficial for the economy.