Economist Richard Thaler describes economics as the sum of two parts. What are these two parts?

Q: when it appeared the conventional Open Market Operations was not sufficient, monetary policy officia...

A: Monetary policy is a set of tools that a country's central bank can use to encourage long-term econo...

Q: Be the production function Q (K, L)) = (K} +213), that depends on the quantities Used from inputs Ka...

A: Given production function Q=89K13  +2L133

Q: Figure: External Costs Price Social cost Supply E H Demand

A: Given that the diagram of external cost.

Q: what does Adam Smith mean by “self-regulating

A: Adam Smith in his book called "The Wealth of Nation" published in 1776 has described the "self-regul...

Q: how can globalization help daily life of the people.

A: Globalistion is the process of integration among people and the government of different companies.

Q: 2. May purchased a new mobile phone and paid ₱10,000. This means that her marginal utility from this...

A: In a market, marginal utility refers to the amount of satisfaction gained by a consumer when he cons...

Q: Assume at the level of output where MC=MR, a firm experiences TR = $40,000 per week, TFC = $100,000 ...

A: Firm uses condition MC=MR It refers that firm is maximizing profit Given information TR=$40000 TFC=1...

Q: What is the definition of Total Revenue and Marginal Revenue

A: In economics, total revenue and marginal revenue both terms are used.

Q: If the Federal Reserve (the central bank of the U.S.) raises the interest rates, what will happen to...

A: Aggregate expenditure is the sum of consumption spending, investment, government spending and net ex...

Q: 2.15 [Related to the Apply the Concept: “Are the Big Four Airlines Colluding?"] Airlines sometimes f...

A:

Q: You are Lori Lightfoot. The city needs money.  You are contemplating 2 sources of revenue:  levying ...

A: PLEASE FIND THE ANSWER BELOW.

Q: If households from a small open economy expect future income to be lower than expected, then the wor...

A: The compensation that is being received by the workers or employees through fulfilling various types...

Q: Your first job after graduation is in the statistical office of the small country Exemplia, where mo...

A: Basket size alludes to the number of items sold in a solitary buy. You ascertain the normal basket s...

Q: The following diagram represents market for a normal goud. Demand and Supply Price $10 $9 $8 -Quanti...

A: [a]Equilibrium is attained where demand = supply.Thus, equilibrium price is $5 and equilibrium quant...

Q: Tyler buys a futures contract from Alex that gives him the right to buy 1,000 barrels of oil at $125...

A: A futures contract is an agreement between buyer and seller in order to buy/sell a particular commod...

Q: 2 (a) Why would a firm that incurs losses choose to produce rather than shut down?

A: In a market, there are different situations faced by the firms according to which they make their de...

Q: To reduce the money supply in the economy, the Fed would: engage in actions to increase interest rat...

A: The central bank of a country controls the money supply in the economy.  The central bank conducts t...

Q: Suppose the economy is growing faster than its long-run potential growth rate. To bring the real gro...

A: Here, it is given that the economy is producing more than the potential output, which explains the f...

Q: There are two firms in a homogenous product market described by the demand function P(q1,q2)%3D131-(...

A: Initial calculation The quantity produced by firm1=q1 The quantity produced by firm2=q2 the inverse ...

Q: How do countries benefit from FDI?

A: Foreign direct investment refers to the purchase of share of a company by a company or individual ou...

Q: a=$250b, I=$500b, G= $350b, MPC=80%; Calculate: the multiplier the equilibrium level of income

A: The multiplier value depends on the value of the marginal propensity to consume. Higher the MPC, hig...

Q: QUESTION 28 Fl in the blank using the number that corresponds to the correct word or phrase in the w...

A: The emphasis on opportunity cost, the assumption of maximization in terms of one's own self-interest...

Q: Suppose that the monopolist can produce with total cost: TC = 10Q. Assume that the monopolist sells ...

A: The monopolist uses the practice of price discrimination to make maximum profit. It is the practice ...

Q: Find the minimum cost of producing 30000 units of a product, where x is the number of units of labor...

A: Cost minimization problem of the firm: Min 91x +96y  subject to constraint 30,000 = P(x,y) = 100x0.6...

Q: While trade flows have slowed down since (circa) 2010, capital flows have continued growing. Therefo...

A: When talking about globalization, it can be said that it is the situation when two or more countries...

Q: Consider the following fixed proportions technologies: Technology A uses 3 units of labour and 6 uni...

A:

Q: Classify the following costs as explicit or implicit. Explain your answer ABC Company spent $1000 fo...

A: Explicit cost :- Those cost which is actually incurred by the organization is called explicit cost. ...

Q: Difference between implicit cost and explicit cost? Or Explain seperately and briefly both the impli...

A:

Q: Suppose we allocate a fixed supply of a depletable resource between two periods in a dynamically eff...

A: *Answer:    

Q: In an economy, the supply and demand functions of the residential rental market are as follows: Qs =...

A: The equilibrium in the market is determined by the market forces of demand and supply. The demand cu...

Q: t prices to cover the higher costs associated with the new stadium. If the Oilers are prof costs fro...

A: Pricing strategies are the technique involved by the sellers to lay out best cost for their item or ...

Q: Riley has invested P10,000.00, part at 5% and the remainder at 10% simple interest. How much is inve...

A: Let x be his investment at 5% and (10,000-x) at 10% simple interest Now, For 5% rate interest will b...

Q: Briefly describe the factors that need to be considered during an ergonomic assessment.

A: Ergonomic factors are working environment circumstances that cause mileage on the body and can cause...

Q: ntidade Be the production function Q (K, L) -2 (K+41, which depends on the quantities Used from the ...

A: Introduction We have given a production function Q (K, L) = 23625 (K1/4 + 4 L1/4)4 Here (K,L) = (2,4...

Q: In the above figure, the profit-maximizing output and price for this monopolistically competitive fi...

A: In a monopolistically competitive firm there are many sellers of the product, each seller produces s...

Q: Refer to the above graph. Assume that the economy is initially at equilibrium at point A. If there i...

A: The measure that depicts the general increase in the level of prices of goods and services in an eco...

Q: Which of the following is NOT implied by the Quantity Theory of Money (QTM)? a With constant money s...

A: Quantity theory of money shows the relationship between money supply, velocity, price level and real...

Q: What would happen to the utility maximising bundle due to income decreasing... (ceteris paribus) ?

A: Utility maximizing:- People and organizations pursue utility maximisation as a strategic strategy fo...

Q: What is your insight about poverty?

A: In economics, poverty is one of the concepts to study when analyzing the overall functioning of the ...

Q: 4) Listen Firms in oligopoly markets are playing a 'game' agpinst each other. True False Listen In g...

A: Oligopoly is a market structure where there are few sellers in the market competing against each oth...

Q: What if the information regarding market demand and market supply is conveyed in equations rather th...

A: Demand curve shows different combinations of price and quantity demanded and supply curve shows diff...

Q: In Islandia, all goods and inputs are bought and sold at chere is a single price for each product. I...

A: Mix of goods means both factor market and goods market are in equilibrium simultaneously. As per giv...

Q: Consider a ypothetical closed economy in which the marginal propensity to consume (MPC) is 0.8 and t...

A: Here, the marginal propensity to consume of the people of a closed economy is given as 0.8, and the ...

Q: What is the function and use of the supply in the market? What are the causes that are responsible f...

A: Supply shows the functional relationship between supply and the factors that affects willingness and...

Q: The price rose. How would it change the investment: Decrease or Increase? How would it shift the AD ...

A: The aggregate demand curve shows the inverse relationship between the price level and the total quan...

Q: In the above figure, the left hand side graph represents a perfectly competitive industry and the gr...

A: Perfect competition is an ideal type of market structure where all producers and consumers have full...

Q: Question 11                  If the good in the above figure is a normal good and income rises, then...

A: Q.11)  If the good in the above figure is a normal good and income rises, will increase the demand f...

Q: Year BTCF (Marginal cost) 1 %24

A: Substitution/Replacement includes eliminating liquefiable material from the site and supplanting it ...

Q: According to the life-cycle income hypothesis, if the retirement age increases but life expectancy d...

A: The life-cycle hypothesis is an economic concept how people spend and save money throughout the cour...

Q: Jane is the general manager at a new café and wants to hire a few baristas. The going rate for baris...

A: Jane would generally pay $9.55 per hour as this is the price that is already prevailing in the marke...