Each small square in the grid for this graph has one side equal to 1 pound of screws and one side equal to 1 dollar per pound. The area of one small square is therefore There are small squares in the purple shaded rectangle. On this graph, the area of the purple rectangle corresponds to: King Hardware's revenue from selling screws, measured in dollars The price of the screws, measured in dollars per pound The number of screws that King Hardware sold, measured in pounds None of these-the area has no meaning
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- Can you please make sure that it is clear in which each line is shifting No handwritting solutionConsider the market for product ABC, when the price is at Php 12, quantity demanded is 6 units and quantity supplied is 3 units. An eight pesos increase in the price would change quantity demanded by 2 units and quantity supplied by 4 units. How much is the price of product ABC when no one wants to sell the product? How much is the gap at price of Php 18? How much is the price of product ABC when no one wants to buy it? Choices: shortage ; 3.75 6decrease ; 0.25shortage ; 1.536increase ; 0.5-39 increase ; 0.25 5decrease ; 0.5 surplus ; 1.5 16surplus ; 3.75Using money creation to pay for government spending Consider Arcadia, a hypothetical country that produces only crab cakes. In 2020, a crab cake is priced at $5.00. Complete the first row of the table with the quantity of crab cakes that can be bought with $700. Hint: In this problem, assume it is not possible to buy a fraction of a crab cake, and always round down to the nearest whole crab cake. For example, if your calculations result in 1.5 crab cakes, the answer should be 1 crab cake. Year Pieces of Crab Cake Crab Cakes Bought with $700 (Dollars) Quantity 2020 5.00 2021 Suppose the government of Arcadia cannot raise sufficient tax revenue to pay its debts. In order to meet its debt obligations, the government prints money. As a result, the money supply rises by 50% by 2021. Assuming monetary neutrality holds, complete the second row of the table with the new price of a crab cake and the new quantity of crab cakes that can be…
- Assume that Smith deposits $500 in currency into her checking account in the XYZ Bank. Later that same day, Jones negotiates a loan for $2,000 at the same bank. In what direction and by what amount has the supply of money changed? Multiple Choice increased by $2,000 decreased by $500 increased by $2,500 increased by $500#2. Asap Assume that Smith deposits $500 in currency into her checking account in the XYZ Bank. Later that same day, Jones negotiates a loan for $2,000 at the same bank. In what direction and by what amount has the supply of money changed? Multiple Choice increased by $2,000 decreased by $500 increased by $2,500 increased by $500.Consider each of the following goods and services. For each, identify whether the law of one price will hold, and state whether the relative price is greater than, less than, or equal to 1. Explain your answer in terms of the assumptions we make when using the law of one price. a. Wheat traded freely in the United States and Canada. b. Sugar traded in the United States and Mexico; the U.S. government imposes a quota on sugar imports into the United States. c. Starbucks grande dark roast coffee sold in the United States and Japan. d. Haircuts in the United States and the United Kingdom.
- Q1: Suppose that the demand for the olives and supply of the olives both are declined by equal amountover some period of time. What you can conclude with this information? Explain and graphicallyshow the effect on equilibrium price and equilibrium quantity. Q1 B) Why is money not considered to be a capital resource in economics and why is entrepreneurialability considered to be a part of economic resource, distinct from labor? Please suggest two most important function of entrepreneurs? Q2: Danny “Dimes” Donahue is a neighborhood’s 9 year old entrepreneur. His most recent venture is sellinghomemade brownies that he bake himself. At price of $1.50 each he sells 100. At price $1.00 each he sells300. Is this demand elastic or inelastic in this range? If demand has the same elasticity for the price declinefrom $1.50 - $1.00, would cutting the price from $1.00 to $0.50 increase or decrease Danny’s total revenue.Suppose that the cost of a movie ticket is 30TL, and a latte costs 15TL. Why would the theater management say the cost of a movie ticket is 30TL and not two lattes? Explain why it is more efficient to compare the value of commodities in monetary termsYousuf is going to market on 8.4.2021 with 10 OMR and he purchases 5 kilograms of the product which is 2 OMR per kilogram. When he went the next day with 20 OMR the price did not change and he purchased 10 kilograms of the product. The change in demand here discussed here is ________. a. Downward movement of supplier on the supply curve b. Upward movement of the supplier on the supply curve c. Rightward shift of the consumer on the demand curve d. Leftward shift of the consumer on the demand curve
- Consider Tralfamadore, a hypothetical country that produces only cakes. In 2017, a cake is priced at $4.00. Complete the first row of the table with the quantity of cakes that can be bought with $900. Hint: In this problem, assume it is not possible to buy a fraction of a cake, and always round down to the nearest whole cake. For example, if your calculations result in 1.5 cakes, the answer should be 1 cake. Year Price of a Cake Cakes Bought with $900 (Dollars) (Quantity) 2017 4.00 2018 Suppose the government of Tralfamadore cannot raise sufficient tax revenue to pay its debts. In order to meet its debt obligations, the government prints money. As a result, the money supply rises by 20% by 2018. Assuming monetary neutrality holds, complete the second row of the table with the new price of a cake and the new quantity of cakes that can be bought with $900 in 2018. The impact of the government's decision to raise revenue by printing…The figure below shows the average share of total household expenses for a good and the inflation-adjusted price of the same good. The share of all expenses line is calculated as expenditures on this good (that is the price of this good multiplied by the quantity of this good purchased) divided by total household expenses. This line shows how expenditures on this good changes over time, holding total spending constant. The other line is the price of this good adjusted for inflation (i.e., the increase in the price level for all goods). The specific units are obscured on purpose. Use these data to characterize the price elasticity of demand. Explain using the definitions of price elasticity of demand and total expenditure. Notice that I am not asking you to calculate the price elasticity of demand. Use the data to talk about the size of price elasticity of demand in general terms. Is demand elastic or inelastic? Is the price elasticity of demand very large? Very small? Close to 1?…a Guildrerian traded buys a 150 flop barrel of florish pickles by exchanging 15 gulps and a florish trader buys a 8 gulp crate of Guilderian apples by exchange 80 flops. Then the gulp appreciation to 25 flops per gulp, What price must the Guilderian pay for the same 150 flop of barrel pickles? b. How much must the Florish trader pay for the same 8 gulps crate of apples? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.