Q: A3
A: In a market, when a firm faces U-shaped average cost curve in the long-run, it implies that the…
Q: Starfruit, papaya, jackfruit, durian, sweetcorn, mangosteen, pineapple, Banana, Rambutan, Watermelon…
A: The self-sufficiency ratio refers to the ratio at which the economy can produce a self-sufficient…
Q: real
A: Answer Explanation: Real gross domestic product (real GDP) is associated with inflation-adjusted…
Q: Income in the form of wage, interest, rent, and profit is known as _____
A: The sum of total earnings of an economy in a particular timeframe (typically a year) is known as…
Q: for each pair identify whether they are compliments or sustitutes…
A: Given,Film streaming and movie ticket.Film streaming and tv screen.
Q: Circular flow
A: Circular flow: - a circular flow of income shows the exchange of money, resources, goods, and…
Q: It is the part of the total population that has shown some level of interest in buying a particular…
A: Whenever a firm tries to sell a product or a service, it categorizes the buyers.
Q: Workers laid off for a predictable part of the year make up
A: There are 4 different kinds of unemployment as: Frictional unemployment cyclical unemployment…
Q: definition of products, goods and services
A: TO understand the definition of these terms, we need to understand that goods and products are used…
Q: Occupational group: CHEF List 5 Hazard of this occupational group that affects health or have…
A: Chef is an occupation where an individual is trained to understand cooking techniques, ingredients…
Q: Gertrude is not working but has been looking for work for the past year. Last week she did not look…
A: Unemployment: - unemployment is that portion of the labor force that is able to do work and looking…
Q: Services are tangible product; activities provided by other people, such as doctors, dentists,…
A: In economics, goods are objects that are obtained at the end of the production process. A producer…
Q: "Natural resources" refers: a. bodies of water b. Oil reserves c. mineral reserves d. All the above
A: All those resources which are available and exists on Earth for human use and does not require any…
Q: Factor of production
A: Factors of production are those which are used in the production process.
Q: Find a company that bribed officials in a foreign country (not domestic) and the outcome. Talk about…
A: This topic is related to bribery. Bribery is a Black's law dictionary which offering, giving,…
Q: Asian immigrants were denied citizenship in the United States until 1952 until 1882 until 1924…
A: Immigration can be good for the economy or it can be a burden on the economy. For instance, if the…
Q: The Circular Flow Payment for Goods and Services THE PRODUCT MARKET Finished Goods and Services-…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: The price of land used in production. Mortgage Rent Savings Profit…
A: Land, labour, entrepreneurship, and capital are examples of components of production. The present…
Q: A stock reflecting, at a given time, the financial and real assets an individual has accumulated is:…
A: A stock variable is measured at a specific point of time, like wealth, money supply, debt, assets…
Q: Number 9, the Boston Red Sox one
A: Given, Total number of setting is 38000 Per unit tax is $5 per ticket. Cost per unit (P) is $5 per…
Q: Recession Causes a Drop in consumer income. Analyze New Cars
A: The merchandise whose request will in general increment as the pay of the customer rises is called…
Q: employment, the public policy exception prohibits employers from firing employees engaged in…
A: The state of in turn having a job that is paid in nature depicts the concept of employment. An…
Q: Lenny organized his business in Delaware. He has customers in Delaware, other states in the U.S.,…
A: Business can be classified as three based on its regional characteristics; they are domestic,…
Q: economic activities which are undertaken within the household
A: Economic activities involve buying, selling, production, manufacture. Any economic activity has a…
Q: 5) Paper purchased by a publisher is (intermediate good/final good/consumer good/service)
A: # the goods which are used for the production of final goods or we can say that the goods which are…
Q: Farm input sector opportunitues
A: Farm input sector mainly consists of fertilizers, crop protection products, seeds and it also…
Q: Name 2 aims of a government owned postal service.
A: A government's arrangements for the delivery of mail, packages, and magazines, as well as related…
Q: A business buys $5,000 worth of resources to produce a product. The business makes 100 units of the…
A: Value Added method takes the value of final goods and services and do not include the value…
Q: Types of consumer goods
A: Consumer good is a final good purchased by a consumer. Generally, there are 3 type of consumer…
Q: Government intervention is typically considered desirable if: it leads to fall in the price of all…
A: Most economies of the world today follow a mixed economic system wherein market forces and…
Q: 22. Federal courts do NOT have jurisdiction over cases involving C. divorce. d. bankruptcy. a.…
A: Federal courts have jurisdiction over cases involving: the United States government, the…
Q: Legal and Ethical Behavior
A: There is a difference between the legal system and ethical decisions, even though they are used most…
Q: HOW PER CAPITA INCOME IS CALCULATED ?
A: Per capita income can be defined as the amount an individual earns of a nation or a defined…
Q: question 1 only
A: The production function shows the relationship between inputs and output. It means the production…
Q: privatization of state-owned businesses
A: Nationalization and Privatization are opposite of each other.
Q: Merck is a multinational American company, headquartered in the US Steve is an American citizen who…
A: Multinational companies are those companies who operates or do businesses more than one nations .
Q: In-class activity: 1. Create an email signature - Full Name - Address Phone Number - Fax Number -…
A: 1 XZZ LAST NAME Department. Building No. 111, nd Floor, LOS ANGELES, New York Pin Code Phone…
Q: greater than; greater than greater than; less than less than; less than equal to; equal to less…
A: The market prices of X=$20 The market prices of Y=$50 The consumer has to spend=$500
Q: Business forms that have unlimited personal liability include O sole proprietorships and…
A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
Q: With more money to spend and an increased number of products to buy, became an American way of life.…
A: The economies around the globe are involved in various economic, and financial activities. There are…
Q: Economic function for 1) president says more spending will fight recession 2) legislature passes…
A: Economic functions for government refer to the actions of the government to influence the economy as…
Q: 8. Factors that influence standard of living
A: When the government invests in technology, education to increase skills and create capital…
Q: sixth worker. fourth worker. third worker. second worker.
A: Wage is the income earned by the labourers in return for their factor of production (labor) offered…
Pls provide good solution
Step by step
Solved in 2 steps
- National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal IncomeSuppose the data BELOW is for a given year from the annual Economic Report of the President. Calculate GDP using the expenditure approach (Amount in billions of dollars): Corporate profits: $ 305Depreciation: $ 479Gross private domestic investment: $716Personal taxes: $ 565Personal saving: $120Government spending: 924Imports: $ 547Exports: $ 427Personal consumption expenditures: $ 2,966Indirect business taxes: $ 370Contributions for Social Security (FICA): $ 394Transfer payments and other income: $ 967Assume there are only two producing sector Y & Z in an economy. Calculatea) Gross value added at market price by each sector b) National income from the followings:Items Amount in CroresNet factor income from abroad- 20Sales by Y= 1000Sales by Z= 2000Change in stock of Z= -200C Closingstock of Y= 50 Opening stock of Y= 100Consumption of fixed capital by Y & Z= 180Indirect taxes paid by Y & Z= 120Purchase of raw material by Y= 500Purchase of raw material by Z= 600Exports by Z= 70
- The table below gives some of the items in the U.S. National Income and ProductAccounts in 1995.ItemAmount(trillions ofdollars)Consumption expenditure 4.97Investment 1.14Government expenditures 1.37Net exports 0.08Wages 4.20Interest, rent, and profit 1.68Depreciation 0.89a) Use the expenditure approach to calculate U.S. GDP in 1995.b) Use the income approach to calculate U.S. net domestic product at factor cost inYou are given the following information about an economy: $millionsGDP at Market Prices 1,669.4Imports 290.5Gross Domestic Capital Formation 48.7Income accruing to the Public Sector 39.0Retained Business Earnings 75.9Exports 273.4Subsidies 16.8Factor Payments from Abroad 10.0Capital Consumption Allowance…You are given the following information about an economy: $millionsGDP at Market Prices 1,669.4Imports 290.5Gross Domestic Capital Formation 48.7Income accruing to the Public Sector 39.0Retained Business Earnings 75.9Exports 273.4Subsidies 16.8Factor Payments from Abroad 10.0Capital Consumption Allowance…
- Suppose you are given the following data for a particular economy (unit: Millions of Euros):Gross National Income mp (GNImp) =1650Investment (I) = 220(Iliq) Net investment = 210Private consumption(C) =1100Net External Income (NEI) = 0Net Indirect Taxes (NIT) = 231Public Spending (G) = 363 Calculate: a) Balance of Goods and Services or Net Exports (NX) and Amortizations/Depreciations (A). b) Net National Product at Base Prices (NNPbp) and Net Domestic Product at Base Prices (NDPbp)QUESTION TWOSuppose that the economy of Mwaliteta Republic has the following data for some economic variables. Assume that Mwaliteta Republic has a population of 500,000 people.Variable Amount in million ZMWExpenditure on Non-durable goods 98Non-residential fixed investment 79Central government expenditure 60Local government expenditure 82Expenditure on durable goods 82Expenditure on services 99Export expenditure 60Inventory Investment 5Depreciation 4Property income from abroad 12Indirect taxes 12Residential fixed investment 42Personal income tax…Consider a macroeconomy where the current population is 800 thousand people. Gross domestic private investment is constant $2500 million while consumer expenditure is described by the equation: C = 580 +0.8DI. The government is fairly active, with a total expenditure of $2000 million andnet taxes of $2550 million. Further investigation of the macroeconomy reveals that imports are constant at $3000 million while exports are constant at $2500 million. Currently, the overall price level (GDP deflator) is 118 and the potental GDP level is $13.5 billion.(Question4 of 7)Now, consider that the government decreases taxes by 7.5%. While the change had a direct impact on the economy, other market conditions led to an unanticipated change in the economy. Specifically, imports decrease by 7.5%. At the same time, given the birth rate, mortality rate, and net migration, the economy experienced a 0% change in its population.1. As a result of these events, what is the current equilibrium level of GDP?…
- Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR):Wages and Salaries: R2,500Interest: R300Rent: R200Profits: R1,000Taxes (Indirect Taxes Minus Subsidies): R400Depreciation: R500Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may beused?A. Expenditure approachB. Income approachC. Product approachD. Trade approachUse the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:COMPONENTR millionsConsumption expenditure (C) Investment (I)Government spending (G) Exports (X)Imports (Z)DepreciationForeign payment to the rest of the worldForeign payment from the rest of the worldShow all calculations and formulae.9 000 6 500 7 000 1 800 2 400 700 300250 Compute the value for the country’s GDP (Gross Domestic Product) at market price. Determine the value of the country’s NNI (Net National Income) at market price.If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.Q.7.2.5The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600