How can a country increase its production capacity (its ability to produce goods and services)? 1. By increasing its government spending 2. By increasing its resources (land, labor, machines, etc.) 3. By increasing its money supply 4. By shifting the production possibilities curve to the left
Q: 1) Are monopolists guaranteed of making economic profits?. pleas explain.
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 1. On January 1, 2002, Germany officially adopted the euro as its currency, and the deutsche mark…
A: The three purposes or services that money offers are frequently used as its definition. A unit of…
Q: True/False Marginal utility keeps falling with the each additional consumption of a good or…
A: Economists uses the concept of marginal utility to determine how much of a product consumers are…
Q: An experiment consists of four outcomes with P(E1) = 0.2, P(E2) = 0.3, and P(E3) = 0.4. The…
A: Given information: An experiment consists of four outcomes, i.e. E1, E2, E3, and E4. P(E1) = 0.2,…
Q: II Analytical 4. Assume that equilibrium GDP (Y) is 5,000. Consumption (C) is given by the equation…
A: 4)Macroeconomic policy is concerned with the economy's entire operation. In general, macroeconomic…
Q: Explane the stages a bill must go throught to become an Act of Parliament and the main advantanges…
A: The parliamentary law making process is a fundamental aspect of the United Kingdom's system of…
Q: An economy has the following money demand function. 0.5 Y (MIP) d = where the nominal interest rate…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: A total of $54,000 is borrowed and repaid with 48 monthly payments, with the first payment occurring…
A: Future value: The future value determines the present value of a commodity in the future after…
Q: Suppose that nominal GDP was $8 trillion in 2040 in Atlantis. In 2050, nominal GDP was $10 trillion…
A: Nominal GDP refers to the value of goods and services that are measured at current year market…
Q: Consider a simple economy that produces two goods: beers and paper plates. The following table shows…
A: Nominal GDP refers to the market value of all the final goods and services produced in an economy…
Q: What is the value of the test statistic for a test with a null hypothesis that mu = 250, Xbar = 260…
A: Standard deviation is a measure of the amount of variation or dispersion of a set of data values…
Q: Illustrate the market for peanut butter when the scientists discovered that peanut butter is a good…
A: Demand refers to the quantity of a good or service that consumers are willing and able to purchase…
Q: Discuss the relationship of the developed countries (usually referred as the core) and the…
A: Production is the process of creating goods and services, typically involving the conversion of raw…
Q: What is the difference between the labor intensive production and capital intensive production…
A: Production basically refers to the process of creating goods or services for consumption. It…
Q: When the economy is at full employment, ----- is zero. A. unemployment B. cyclical unemploment…
A: Unemployment is defined as a situation where the people who are looking for jobs at the existing…
Q: In the graph above, suppose equilibrium is at point D. The price of the good is expected to rise in…
A: In the free economy, the equilibrium price and quantity is determined by the forces of demand and…
Q: QUESTION 9 B only Firms C and D A and B OC only A B с D Markets for Goods and Services Markets for…
A: Here we are provided the circular flow of income model in the presence of 2 sectors a) Household B)…
Q: Suppose that in an economy with no government, the aggregate expenditure function is: AE = 50+0.75Y…
A: The aggregate expenditure function is the graphical representation of planned expenditure in the…
Q: Steel Industry Consider a small country that exports steel. Suppose the following graph depicts the…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Suppose this economy is producing at point W. Which of the following statement(s) would best explain…
A: A production possibility frontier (PPF) depicts the combination of two goods that can be produced…
Q: * Assume that somebody has to pay £2000 in three years' time and £3000 in seven years' time. They…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: Illustrate the market for peanut butter chips after a major hurricane hits the peanut-growing south?
A: The market reaches equilibrium where quantity demanded is equal to quantity supplied.
Q: Refer to following table, if the group living in the house consists of Students A, B, and C, the…
A: Cost-benefit analysis is a way of evaluating the costs and benefits of a project to analyze which…
Q: 5. Assume that the demand for real money balance (M/P) is M/P = 0.6Y-100i, where Y is national…
A: The money market is the market of monetary assets. It includes the tools of interest rate and money…
Q: Q.3. Figure below shows the production possibilities frontier for a music processing plant that can…
A: Production possibilities frontier is the curve that shows different combinations of two goods…
Q: Give typed explanation Suppose in 2021, the average price level in Pacifica was 100, and that in…
A: PPP (Purchasing Power Parity) is a theory in economics that attempts to measure the exchange rate…
Q: within the variable price fixed wage version of the keynesian model, analyze the effects of an…
A: The variable price fixed wage version of the Keynesian model is a macroeconomic model that describes…
Q: Question 6 Suppose 3 P = P*; 3 Qd = Qs = Q* Numerically calculate the equilibrium price and quantity…
A: Demand-supply equilibrium: The demand function determines the willingness to pay of an individual…
Q: Statement Between points V and Z, curve MM is unit elastic. Between points V and Y, curve 00 is…
A: The elasticity of supply measures the responsiveness of change in quantity supply to change in…
Q: the graph above, a movement from point D to Point B is A. a movement from an efficient point to an…
A: Production possibilities frontier is a combination of goods efficient and feasible to produce in the…
Q: The competitive pressures from substitute products tend to be stronger when A) buyers have high…
A: Introduction Substitute products are products that can be used instead of another product to achieve…
Q: The gross domestic product (GDP) of the United States is defined as the all in a given period of…
A: GDP is the sum of consumption, investment, government expenditure and net exports in an open…
Q: PLEASE MAKE A SUPPLY AND DEMAND GRAPH BASED ON THIS EXPLAINATION The high demand for onions in…
A: Market equilibrium: At the market equilibrium we have demand equals to supply. Or at market…
Q: 10. Using the graph below, determine the equilibrium price and quantity of pens. PRICE Delars per…
A: Introduction The interaction between supply and demand in a market determines the price. Demand and…
Q: What are the challenges facing by Ghana? What are constraining effective implementations of Ghana’s…
A: Ghana is a developing country in West Africa. Ghana has five basic goals under "Vision 2020" Five…
Q: QUESTION 23 A university's football stadium is never more than half-full during football games. This…
A: Equilibrium price in economics refers to a price at which the quantity of a good or service supplied…
Q: In chapter 2 of your book "Understanding Business", in the box "Reaching Beyond Our Borders," the…
A: Inflation rate: The inflation rate refers to the average growth rate of an economy's overall price…
Q: The BEA says “Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the…
A: A country's overall economic output is measured by its real gross domestic product (GDP), which is…
Q: Which utility function represents quasi-linear utility function in y. A. U = x^2+y B.U=X+Y…
A: A quasi-linear utility function is a type of utility function where the marginal utility of one good…
Q: 1. Harvey Habit's utility function is U (C₁, C2) = min {c₁, c2}, where c₁ is his consumption of…
A: Most options necessitate decision-makers taking into account costs and advantages at various times…
Q: QUESTION 29 Suppose there are 100 buyers in the market for rice and all of them have identical…
A: Market demand curve is the graphical representation of the relationship between price and quantity…
Q: 1. Suppose the supply of heavy metal concert tickets is upward sloping and the demand for heavy…
A: ***Since the student has posted multiple questions, hence, the expert is required to solve only the…
Q: Find the consumer surplus. Supply: Q=2P. Demand: Q=100-5P
A: Consumer surplus refers the difference between willingness to pay by consumers and actual price of…
Q: If the production function is F(K. L) = K 1/3 L 2 /3 , the wage rate is 5, and the rental rate of…
A: Given information: F(K,L) = K1/3L2/3 Where F(K, L) is a function of K and L. K is capital and L is…
Q: The reserve requirement, open market operations, and the moneysupply Consider a system of banking in…
A: Money supply refers to the total amount of money in circulation in an economy, including both…
Q: Diogo has a utility function: U = 100X920.1 The price of X is p, = $10, the price of Z is p₂ = $4,…
A: Given information: U = 100X0.9Z0.1 --------------> Utility function --------------------------…
Q: Use the chart to match the number of firms witht the correct market structure. Market Structure…
A: A marketplace in the field of economics is a group of systems that permit the exchange of items and…
Q: Define rate-of-return relative to medical school education
A: Economics rely on an approach of the rate of return instead of physician to population ratio to…
Q: 6. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not…
A: GDP refers to the sum of consumption, investment, government expenditure and net exports. This can…
Q: Reason of the shift (supply & Demand) indicate what is the problem or what have caused (factors) of…
A: Price of any commodity in the market is determined by the demand and supply forces provided that…
Please answer correct explain plz asap 1234
Don't answer by pen paper plz
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Subject: Business Economics Q): An economy produced three goods: organ, apple & organ juice. It is assumes that half of the organ are bought & consumed as final good, the other half is used to produce organ juice. In 2019, 20 KG of organ are produced at RS. 50/kg. 40kg of apple are produced at 100/kg, & 25 glasses of organ juice are produced at Rs.200/ glass. In 2020, 40 KG of organ are produced at RS. 80/kg. 60kg of apple are produced at 110/kg, & 30 glasses of organ juice are produced at Rs.195/ glass. Assuming 2019 as base year, Calculate real, nominal GDP & GDP deflator in 2019 & 2020.If the GDP per capita grows by 5%, it means that O a. The rich people's incomes increased by 5% © b. On the average, the people's income grew by 5% © c Everyone's income grew by 5% d. Employment rates increased by 5%Suppose that a country produces 200 million dollar value of total outputin a year. The country produces only two goods: pepperoni pizzas andbottles of soda. The price of a pepperoni pizza is $5 and the price ofa bottle of soda is $2. Draw the country’s iso-value line on a graph. Ifthe price of a pepperoni pizza increases to $8, what will happen to thecountry’s iso-value line?
- Most countries, including the United States, importsubstantial amounts of goods and services from othercountries. Yet the chapter says that a nation can enjoya high standard of living only if it can produce alarge quantity of goods and services itself. Can youreconcile these two facts?As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
- Monica grows coconuts and catches fish. Last year she harvested 1500 coconuts and 600 fish. She values one fish as having a worth of three coconuts. She gave Rachel 300 coconuts and 100 fish for helping her to harvest coconuts and catch fish, all of which were consumed by Rachel. Monica set aside 200 fish to help with next year's harvest. In terms of fish, consumption would equal 700 fish 900 fish 1100 fish 2700 fishAn economy produces 10 cookies in year 1 at aprice of $2 per cookie and 12 cookies in year 2 ata price of $3 per cookie. From year 1 to year 2, realGDP increases bya. 20 percent.b. 50 percent.c. 70 percent.d. 80 percent.Consider a simple economy of Korea - producing two goods, Motor bike and milk. The details ofthe economy and its production is as follows: Motor Bike (1000 / year) Milk (1000 gallons per year) 0 601 502 303 0 d) According to the (BGH) technology, farmers can now get double the amount of milk fromcows easily. In terms of PPF, this means Korean economy can now produce twice milk ateach level of bike output. With the current production of 2000 motor bikes, Mr. B claimsthat this new technology can allow this economy to produce more milk and more bikes. Doyou agree with this statement or not?e) Explain carefully, with the help of diagram and justify your answer.
- Consider the following data for a particular country. Year 1 Population (Millions) - 400 Real GDP (Trillions of $) - 16 Year 2 Population ( MIllinois ) - 480 Real GDO ( Trillions of $ ) - 24 Instructions: Enter your answers as a whole number. a. What is the growth rate of real GDP from year 1 to year 2 -blank percent b. What is the growth rate of real GDP per capita from year 1 to year 2 -blank percent Note: Donot given direct answerif a nation real gdp is growing by 3.5 percent per year , its real GDP will double in aproxiately 1. 41.1 years 2, 20.6 years 3, 10.3 years 4, 72 yearsHome has 12,000 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 100, while in banana production is 75. There is now also another country, Foreign, with a labor force of 18,000. Foreign’s unit labor requirement in apple production is 120, while in banana production is 150. If w=2w* , what goods should Home produce? What should Foreign produce?