Find the median wage of the following distribution : Wages (in $ ): 2,000-3,000 3,000-4,000 4,000-5,000 5,000-6,000 6,000-7,000 No. of workers : 3 20 10

Q: ose real GDP is forecasted to grow by 2.18%, the velocity of money has been stable, and the Fed anno...

A: Inflation occurs when the money supply is greater than the real GDP growth. Central bank can control...

Q: Does the educational system perpetuate or reduceinequality?

A:   Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...

Q: Graphically explain the negative effects of quotas. How about subsidies? Label and explain results...

A: Subsidy, an immediate or aberrant installment, financial concession, or honor allowed by an administ...

Q: Suppose a firm builds a larger plant and increases its output. Which of the following statements is ...

A: If a firm builds new plants and increases its output, it moves from diseconomies of scale to economi...

Q: Plant I of XYZ manufacturing organisation employs 5 production and 3 maintenance engineers, another ...

A:

Q: Is it worth investing in a project that costs up to 600 million dollars across 11 years but is expec...

A: Discount rate refers to the rate or interest rate by which future values are discounted such that th...

Q: Suppose there are two power plants that release sulfur dioxide (SO2) into air at their current produ...

A: Introduction Two Power plant has given as MAC1 = 3q1 + 5 MAC2 = 2q2 They both release 150 units of S...

Q: Assume the market interest rate is 8% per year and inflation averages 5% per year. calculate the per...

A: those type of items that have a limited life, their perpetual equivalent annual  worth is essentiall...

Q: Plant milk sales in the United States totaled $2.5 billion at the end of 2020, accounting for 15% of...

A: 1) a) The plant-based milk is the alternative to dairy milk. It means both are substitutable. So, wh...

Q: NAFTA has improved Mexico-U.S. trade and investment, yet, bilateral trade between the United States ...

A: Trade means goods and services are exported to other countries and imported from outside the country...

Q: Assume that the demand curve is a straight line. If the price per unit of a good rises from $10 to X...

A: Answer: Given, Initial price=$10New price (X1)=$20   (assumed)Initial quantity demanded X2=800,000  ...

Q: A loan of $300,000 is repayable by an annuity payable half-yearly in arrear for 20 years. The half-y...

A: Given information Loan amount=$300000 Year of payment=20 Years Payable half yearly T=20*2=40 times Y...

Q: 1. What is oligopoly? 2. What is the difference between monopoly and monopolistic competition?

A: Introduction Oligopoly , monopoly and monopolistic competition are the forms of markets. 1.  Oligopo...

Q: Latin American and Caribbean citizens who migrate to the United States earn salaries there that are ...

A: Individuals migrate from one country to another in order to take advantage of superior economic oppo...

Q: Designers of the Federal Reserve System were concerned that the Fed might form policy favorable to o...

A: The Federal Reserve System is the US government's central banking authority. It serves as the US gov...

Q: Below are the overtime hours (O) worked by 3 employees an an Office. Calculate var(O). (3 significan...

A: Variance A statistical assessment of the dispersion between values in a data collection is known as ...

Q: The following graph shows the demand (D) for gas services in the imaginary town of Utilityburg. The ...

A: Answer: Equilibrium in monopoly: a firm experiences equilibrium where the MC and MR intersect each o...

Q: When a small economy imposes a tariff on imports, net welfare O always increases. O always decreases...

A: The imposition of tax on imports and exports by the government of the country or a union is being kn...

Q: Back in the 1950s, General Motors (GM) was at its peak. It was widely viewed as a shining example of...

A: Competition is frequently confused with rivalry. When there are two or more firms, there can be comp...

Q: a. Johnson's pig farm faces a demand curve given by Q = 40 - 2P and has a constant marginal and aver...

A: (i) We complete the table, by using the following formula: Step 1: Put the respective value of Q in ...

Q: Capital flows and the balance sheet effect. The direct impact of ultra-easy money policy in advanced...

A: The movement of money for the purposes of investment, trade, or business operations is referred to a...

Q: Assume that Canadian government taxes away $0.15 of each dollar of new income, that 35% of the remai...

A: The quantity of money received by a person, organization, or corporation over a period of time is re...

Q: Suppose the consumption of an economy is given by C = 20 +0.6Y The following investment function is ...

A:

Q: A date with Alex costs you $100 and gives you an additional 1000 units of utility. A date with Kelly...

A: Cost of date with Alex = $100 Utility from Alex date = 1000 Cost of date with Kelly = $200 Utility f...

Q: Consider an economy with six product-producing sectors and one non-producing sector, described by th...

A: Total Demand = 2W + 3G + 2D + 1T + 1 WO + 2H  Where , W = widgets , G = Gizmoes , D = doohickies ,  ...

Q: The table below shows labour force information for a hypothetical economy, Selkirk. Answer the follo...

A: The labour force participation rate is the measure to evaluate working-age population in an economy.

Q: In the model of monopolistic competition, compared to a firm with higher productivity, a firm with l...

A: Monopolistic competition: - monopolistic market structure is the structure in which there is a large...

Q: 1. Complete the following table of various types of cost for a firm in the short run. Assume that To...

A: Formulas:- TC=TFC+TVCMC=∆TC∆QAFC=TFCQAVC=TVCQATC=TCQ

Q: a. Draw the marginal cost and average total cost curves for a typical firm. Explain why the curves h...

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: 4. (a) International trade makes all the consumers, the producers and the country better off. Why or...

A: Labor force refers to the sum of all the workers in a country at any point of time. It is the sum of...

Q: A perfectly competitive firm will maximize its profit when marginal revenue is greater than marginal...

A: Marginal Revenue is the cash a firm makes for each extra deal. As such, it decides how much a firm w...

Q: If the price of a good increases by 10% and the quantity supplied increases by 30%, what is the elas...

A: Given: % Increase in price=10% % Increase in quantity supplied=30%

Q: Answer the next question(s) on the basis of the following 2004 balance of payments data (+ and -) fo...

A: Balance of trade is the difference between the value of Exports and Value of Imports also Balance of...

Q: Although European Union is the most advanced form of regional integration, it is currently facing a ...

A: Following are the challenges ::  EUROPEAN union is the example of economic union with characteristic...

Q: 5.6 5.2 4.8 4.4 4.0 3.6 3.2 2.8 2.4 2.0 1.6 1.2 0.8 0.4 0.4 0.2 1.2 Peaches (millions of tons) a. At...

A: From the given production possibility frontier of Itlay and Turkey, the production schedule is as fo...

Q: Which statement is CORRECT? O A) Automatic stabilizers indicate deliberate action by policy makers. ...

A: Answer: In the case of discretionary fiscal policy, the government takes deliberate action to either...

Q: The relationship showing that damage to the environment increases as a country's per capita income r...

A: The measure of the amount of money that is being earned per person in a geographic region or nation ...

Q: Depreciation of the dollar will:    decrease the prices of both U.S. imports and exports            ...

A: Depreciation refers to decrease in the value of the currency in terms of foreign currency.

Q: Problem 1. The following specifications are given for an economy: Consumption, C = 250 + 0.75 Yawher...

A:

Q: The following figure (Figure 10.4 on your textbook) shows the present value of 1 dollar of climate d...

A: Answer -

Q: Why do national income accountants include indirect business taxes in the income approach to GDP com...

A: The income approach determines the cost of production, and then adjusts it to equal the market value...

Q: Problem Given the following information about the economy of a country. Consumption function C = 85 ...

A: Equilibrium employment level is achieved when Aggregate demand and aggregate supply are equal . And ...

Q: = 240 + 0.5Q², and face 4. A monopolist has the cost function TC(Q) market demand P= 45 – Q. (a) Fin...

A: Total cost function is as follows:- TC = 240 + 0.5Q² Market demand :- P = 45 - Q

Q: Find the present value of an annuity of $1200 payable at the end of each 6 months for 3 years when t...

A:

Q: Refer to the information provided in Table 8.1 below to answer the questions that follow. Table 8.1 ...

A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only ...

Q: In 2006, the Federal Reserve System decides to lower the money supply and raise interest rates in or...

A: Equilibrium in the goods market is reached at the intersection of AD and AS curves.

Q: Industrialization is important to the development of a nation for all the following reasons except: ...

A: Economic development: - Economic development is the process of improving the social and economical c...

Q: The table contains information about the nation of Syldavia. There are no income taxes or imports in...

A: Y = C+I+G In an closed economy the above formula can be used Y= National income or GDP C= Consumptio...

Q: Suppose producers bear most of the burden of a specific tax of 20 cents on staplers. Which ONE state...

A: The profit which is procured by a firm or person when one extra or negligible unit is delivered and ...

Q: Circular flow diagram: Include the government sector in your explanation, a description of the roles...

A: Disclaimer :- As you posted Different questions or multiple questions we are supposed to solve only ...