Q: What is the engine of growth in Romer (1990)'s product variety growth theory and in the…
A: An country is said to be experiencing growth in the economy when its total output rises. Gains in…
Q: 30 International Trade is different from internal trade because of the A Manufactured goods involved…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 10. What is the annual interest rate on a 1000 dollars loan in which all interest is paid at the end…
A:
Q: What is a surplus unit?
A: A recession can be described as a sustained period of poor or negative growth in real GDP (output)…
Q: Question 4: a. The Best Computer Company just developed a new computer processor, on which it…
A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…
Q: Sal’s Streaming Company streams TV shows to subscribers in the US and Canada. Demand is ??? = 50 −…
A: ans
Q: QUESTION 10 Table 13-5 The Flying Elvis Copter Rides Quantity Total Cost $50 $150 G M Fixed Cost 350…
A: The average fixed cost (AFC) is the fixed cost that does not change with the change in the number of…
Q: generated in a good production process, the main issue will be: a. That consumers will be…
A: Externality is a situation when the third party is affected by the production or consumption of a…
Q: Consider the supplier of a product that is an inferior good. For instance, an aluminum supplier for…
A: Inferior Goods: The inferior goods are those commodities that are inversely related to the income of…
Q: creation of in new money (M1). Again, do not include the initial deposit in the
A: What is a money multiplier? As we know that commercial banks lend their excess money as a loan to…
Q: Negative policy interest rates such as those used by the ECB, BoJ, SNB and some other central banks…
A: The Global Financial Crisis (GFC), sometimes known as the Financial Crisis of 2008, was a…
Q: Who introduced utility
A: Utility is characterised as the whole satisfaction a customer experiences when utilising a good or…
Q: Exercise 1. Consider the following two person game. Player 2 L R Player 1 T B 4,1 5,2 8,7 3,6 (1)…
A: Pure strategy equilibria: The intersection of the best response of both players is known as pure…
Q: 2. If we assume a Cobb-Douglas production function where the share of labour is and the share of…
A: Q2. Given: Cobb Douglas Production Function : Y=AK38L58 Share of capital is 3/8 Share of labor is…
Q: 0 P1 A LRAS YO Y1 B ******** LRAS YO Y1 SAS AD Real GDP SAS AD' SAS AD Real GDP PO P1 P P1 PO C LRAS…
A: Assume the economy starts in long-run equilibrium, then one day the securities exchange crashes,…
Q: In a competitive market economy, how is the distribution of income primarily determined? a.By the…
A: Perfect competition refers to the type of market where there are a large number of producers and…
Q: Suppose a firm's marginal cost is increasing as it produces more output. Then the firms is said to…
A: The excess cost that is incurred by the producer to make an additional unit of output is known as…
Q: ity = XY + 3X. If prices of X and Y are Birr 4 and Birr 2 respectively; and if a consumer has an…
A: Utility refers to the satisfaction. The aim of the consumer is to maximize the utility given the…
Q: Considering the medium term and applying the different factors which drive economic growth as set…
A: This report entails the essential factors that can attempt to enhance the company’s returns in the…
Q: 5. Consider the following Extended Form game where P1 stands for Player one and P2 stands for player…
A: The Nash equilibrium is a dynamic hypothesis inside game hypothesis that expresses a player can…
Q: A homogenous good industry consists of two firms (firm 1 and firm 2). Their cost functions are cq₁…
A: A Simultaneous Move Game you observe in Oligopoly market A possible strategy is to maintain a high…
Q: What strategy can work like a silent form of cooperation within the framework of an Oligopoly ?…
A: In the oligopoly market, firms have an incentive to either compete with each other or to collude,…
Q: Consider the following game in strategic or normal form. A2 B2 C2 A1…
A:
Q: Q2. Anna and Ben are deciding what do at weekend. The matrix below shows the payoff in units of…
A: Given Game matrix: Ben sports Movie Anna Sports 10,20 3, 10 movie 3, 7 4, 9 This…
Q: Q3. Suppose two players (A and B) are playing the "matching penny" game. The payoff matrix is…
A: In game theory , each player take action which provides him higher payoff, here Nash equilibrium is…
Q: Please complete the following sentence. One difference between a monopoly and a perfectly…
A: A firm structure where there are lots of little businesses producing the same kinds of goods, but…
Q: om/m/takeAssignment/takeAssignmentMain.do?invoker-&takeAssi... A of U.S. economic activity is…
A:
Q: Consumption function is given as C = 0.4Y²+0.2Y + 50. a) Find the expression for marginal propensity…
A:
Q: A pump is needed for 10 years at a remote location. The pump can be driven by an electric motor if a…
A: As the life of the Gasoline is only 5 years it has to be repeated once. The PW of Gasoline =…
Q: 1. According to INEC, the number of people employed, unemployed, and the adult population in…
A: The labour force is the number of people either utilized or jobless however effectively searching…
Q: Assuming that the is 0.50? O $7,000 O $5,000 O $3,000 O $4,000
A: Equilibrium Income=$4000 full employment income =$8000 full employment income is more than…
Q: In order to study labor markets more easily, we make which of the following assumptions about firms?…
A: In the mentioned question we have been asked what will be assumption for the labor market.
Q: What are the functions of central bank in developed economies?
A: A central bank is a national institution that offers banking and financial services to other…
Q: Please show your answer step by step with reasons. (i) A consumer has income of £3,000. Apple juice…
A: In economics, a spending plan limitation addresses every one of the mixes of labor and products that…
Q: The price elasticity of demand for Strawberries is 0.6. If the price of Strawberries increases by…
A: Price elasticity of demand of strawberries = -(% change in demand / % change in price) we are…
Q: Name and describe differences between goods and services other tangibility.
A: Goods and services are economic items that are demanded and supplied in a market. Goods are the…
Q: The transmission mechanism for contractionary monetary policy implies that: a. Australian…
A: The transmission mechanism is the cycle through which monetary policy choices influence the economy…
Q: .Why should MC curve cut MR curve from below to achieve producer's equilibrium?
A: a.Why should MC curve cut MR curve from below to achieve producer's equilibrium?
Q: 35. Which of the following is the correct way to compute the future value of $100 put into an…
A: The future value can be given as: F = P (1 + R)t Where: P : Present value F: Future valueR :…
Q: Johnston Implants is planning new online patient diagnostics for surgeons while they operate. The…
A: In the present worth analysis, we find the present values of all the cashflows. If the value of…
Q: 010
A: The expected value of game= P1X1+P2X2 P1= Probability of winning X1= winning amount P2= Probability…
Q: demand (D), marginal revenue (MR), and marginal cost (MC) curves for the monopoly firm. e the black…
A: A monopoly is a firm who is the sole seller of its product, and where there are no nearby…
Q: If the market value of the output of the last worker hired by a firm (VMPL) is higher than the wage…
A: If the market value of the output of the last worker hired by a firm (VMPL) is higher than the wage…
Q: Suppose that in a given month $52 million is deposited into the banking system while $60 million is…
A: Money Supply refers to the total money in various forms available and circulating within the economy…
Q: 4. An economy's Planned Aggregate Expenditure (PAE) is given by the formula PAE = 3,400+ 0.6Y in…
A: (a) Given: PAE = 3400 + 0.6Y Autonomous expenditure = 3400 Induced expenditure = 0.6Y
Q: Complete the Daily Production Cost Schedule table below. Quantity MR = Price per Unit TFC TVC…
A: The cost-of-production theory of value is a concept in economics that holds that the price of a good…
Q: functions P₁ = 63-4Q1 P2 = 105-5Q2 Pkets described by the inverse demand P3=75-6Q3, where Q₁ is the…
A: Given: Demand in the first market: P1 = 63 - 4 Q1Demand in the second market: P2 = 105 - 5 Q2Demand…
Q: Process mapping is a tool that reduces processes to their component parts or activities and helps…
A: Process mapping is the graphical representation with illustrative descriptions of how things get…
Q: If in an economy bank rate is increased how will it affect the demand for credit? Explain
A: To prevent volatility, the basic goal of monetary policy is to maintain control over the money…
Q: = A new chemical cleaning solution is introduced to the market. Initially, the demand is QD 1,000 -…
A: Given, The equilibrium will occur when Quantity demanded is equal to quantity supplied…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 6. All of the following are sources of inefficiency except: a. public goods. b. the invisible hand. c. external costs. d. price ceilings. answer. (b. the invisible hand.) 9. Which of the following is the most correct statement about tax burdens? a. A tax burden falls most heavily on the side of the market that is closer to unit elastic. b. A tax burden falls most heavily on the side of the market that is elastic. c. A tax burden is distributed independently of relative elasticities of supply and demand. d. A tax burden falls most heavily on the market that is inelastic. answer (c. A tax burden is distributed independently of relative elasticities of supply and demand.) 16. The Coase theorem suggests that: a. the government should be actively involved in solving the problem of externalities. b. private parties may be able to solve the problem of externalities on their own. c. high transaction or bargaining costs are necessary in solving the problem of externalities. d.…1. Illustrate and explain the simultaneous impact of TRAIN law on the lower income group’s consumption of instant coffee. Compare and contrast the equilibrium price and quantity before and after the implementation of the law. 2. Illustrate and explain why there are very little clean Public Comfort Rooms that are free or are donation-based. Provide a possible solution to this problem (15 pts) (hint: analyze public CR as a positive externality) 3. Do you think that the TRAIN law was/is successful as a pro-poor taxation program? Why or why not?a. How will the imposition of the chosen government policy which is the nudge theory impact consumer surplus, producer surplus and total surplus with the effects of water pollution? (Maximum 30 words)
- Betty gives piano lessons. She has an opportunitycost of $50 per lesson and charges $60. She hastwo students: Archie, who has a willingness to payof $70, and Veronica, who has a willingness to payof $90. When the government puts a $20 tax onpiano lessons and Betty raises her price to $80, thedeadweight loss is _________ and the tax revenue is_________.a. $10; $20b. $10; $40c. $20; $20d. $20; $40Mr. Saeed Ahmed loves watching sports channel on his local public TV station, but he never sends any money to support the station during its fund-raising drives. What name do economists have for people like Mr. Saeed Ahmed? b. How can the government solve the problem caused by people like Mr. Saeed Ahmed? c. Can you think of ways the private market can solve this problem? How does the existence of cable TV alter the situation?a)Some advocates of anti-poverty programs claim that fighting poverty is a public good. Explain what these advocates mean by classifying charity as a public good. b)Why do governments tend to run programs that help the poor? Can the private sector be left to run those programs? Discuss your answer by focusing on externalities and market failure
- Which one of the following is a definition of a merit good? A) Services which can only be provided by the government through taxesB) Goods which provide cear social and private benefits to consumersC) A good which can be produced by the market but would likely be under-consumedD) Goods which are beneficial in consumption but consumers are unaware of the extent of the benefitsE) Goods which are not capable of being provided by the market because they are excludable and rival Merit goods are an example of which of the following problems in economics:A) Free riderB) Principal-agentC) Tragedy of the CommonsD) Intertemporal choiceE) Excludable, non-rival goods provision De-merit goods have characteristics that if left the market mechanism, they are over consumed and impose private costs on the individual consume them, and also have wider social costs. Which of the following ways in which a government might seek to reduce consumption of of merit costs? Check all the apply A) Impose…Fredo loves watching Downton Abbey on his localpublic TV station, but he never sends any money tosupport the station during its fund-raising drives.a. What name do economists have for people likeFredo?b. How can the government solve the problemcaused by people like Fredo?c. Can you think of ways the private market cansolve this problem? How does the option of cableTV alter the situation?1. Describe an incentive your parents offered to you in an effort to influence your behavior. 2. Give an ideal example of a positive (consumption) externality which leads to a market failure. 3.Differentiate equality from equity. 4. Which one is better? Equality or Equity? Give an example in which the government has done such a thing.
- Give typing answer with explanation and conclusion Which of the following policies could help the government achieve the efficient outcome? Check all that apply. Implement tradable pollution permits Offer a subsidy equal to the price at the efficient outcome Offer a subsidy to consumers equal to the vertical distance between the marginal private benefit curve and the marginal social benefit curve Offer a subsidy to producers equal to the vertical distance between the marginal private benefit curve and marginal social benefit curve Introduce emission taxesThere are three individuals in a community: 1,2 and 3. Their valuations of the public good, G, are MB1=40-2G , MB2=20-G and MB3=10-G/2 . Let MCG=ACG= 12 a )Suppose the individuals must vote to determine the level of G, assuming that person 3 pays all of the cost. What will G be, according to the median voter theorem? Show your work b). Quantify the magnitude of the inefficiency caused by voting in part (a) That is, calculate the net loss of total social surplus that occurs because of the G you found in (a)Roommates D, E and F can buy paintings at $30 each for their dorms. Marginal benefits are MB of D = 100 - 2Q, MB of E = 200 - Q, MB of F = 300 - 2Q. a. What are the 2 properties of a public good? b. Explain the Free Rider problem. c. Aggregate the demand curves(vertical sum). d. Why are there kinks in the market demand curve? e. Calculate and illustrate the optimal quantity for this good? f. How should the costs of purchasing this quantity be allocated between the buyers?
