How is a basket of goods and services used to measure the price level?

Q: 1. What do you understand by Trade Creation and Trade Diversion? Which one is better for a country? ...

A: 1. The increase in economic welfare that results from joining a free trade area, such as a customs u...

Q: What is the current unemployment rate in the United States as of January 2021? What was the unemploy...

A: Unemployment rate The unemployment rate basically refers to the percentage of the workforce that is ...

Q: Why a cashless society destory the international finance system?

A: Cashless economy is, when there is no cash flow within an economy, all transactions must be conducte...

Q: Price controls decrease the innovation rate for drugs but make existing drugs more affordable. True ...

A: In economics, price controls are government-imposed restrictions that ensure that goods and services...

Q: how can we think the trade-off for the ole of service standardisation on market segmentation (i.e. h...

A: There will almost always be trade-offs when making a decision. Trade-offs can be defined as a compro...

Q: Is the following statement TRUE or FALSE? Please provide reason for the answer. If the central bank...

A: Open market operation refers to the selling and buying of government bonds by the central bank.  

Q: (Black C ) QUESTION: "The basic objective of human evolution was to establish the value of tasks, re...

A: Government uses fiscal policy to increase net exports as well as government expenditure by increasin...

Q: Suppose the economy is four sectors economy. The economy is represented by the following: C = 400 + ...

A: Net export = Export - Import If import decreases by 10, and export remains the same. Then the net ex...

Q: Problem 5) Given the cash flow diagram, determine the unknown for an interest rate of 10%. 600 600 4...

A: Dear student as you have posted multiple questions but according to our policies and guidelines we c...

Q: If the central banks sells bonds in the open market, net exports will increase. Is the following st...

A: Open market  operation:;-  Open market operations (OMO) allude to the Central Banks practice of purc...

Q: @ Due to heavy ráuns the price o7 ground produce increases i- which core principle o represented in ...

A: Given: Due to heavy rainfall, the price of ground produce increases. We will try to elaborate on thi...

Q: To cover the cost of future expansion a company will save $5,000 a quarter for 8 years. What is the ...

A: a. The future worth if interest is compounded monthly FV=5000(1+.0612)96+5000(1+.0612)93+.....+5000(...

Q: Suppose the economy is four sectors economy. The economy is represented by the following: C = 400 + ...

A: Aggregate expenditure equation: AE = C + I + G + NX => AE = 400 + 0.40Yd + 25 + 40 + (-25) Note: ...

Q: the following statement TRUE or FALSE? Please provide reason for the answer. A fall in the price le...

A: Demand & supply, in economic matters, connection between the amount of a ware that producers wis...

Q: 1. How would each of the following transactions show up on the U.S balance of payments accounts? Ide...

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: A statistics instructor asks each student in his classes to report how much the student spent on tex...

A:

Q: 2. Cross country comparisons of labor productivity. Show all work, LABEL carefully and NOTE UNITS.

A: Since the question you have posted consists of multiple parts, we will answer the first two question...

Q: 2. INDIFFERENCE MAPS Sheldo19 For each scenario, GRAPH two indifference curves U1 and U2 (U1 < U2) t...

A: a. For part "a" of the question, Andy will consume goods X and Y in a fixed proportion ( 2 units of ...

Q: Among the properties of the inequality indices, we have seen the Pigou Dalton principle. Do You thin...

A: Pigou Dalton principle approach towards maximize the social welfare. It states that allocation in an...

Q: C. Solve for the market equilibrium price (P) and market equilibrium quantity (Q) Answer must be in ...

A: Equilibrium price is the price at which quantity demanded equals quantity supplied and the market cl...

Q: Economic Development can analyze and answer the following questions except one a. When will you kno...

A: Economic development means the economic growth along with the improvement on the quality of life of ...

Q: A project costing P250,000 yields a yearly benefit of P80,000 for a period of 10 years with no salva...

A: Present Worth of the project is given by, PW=80000(1+11+0.06+1(1+0.06)2+....+1(1+0.06)9)=P 624135 Be...

Q: The schedule below shows the supply and demand for movie tickets. What is the equilibrium quantity a...

A: The curve that depicts the quantities that are being demanded by individuals at various levels of pr...

Q: Using the figure below, if Company X hires 12 workers what will their marginal product be?

A: The creation of additional output as a result of the additional input that is being placed into the ...

Q: 180 Supply i i 10 25 80 90 QUANTITY (Units) For each of the regions, use the midpoint method to iden...

A: The elasticity of supply is defined as the responsiveness of the supply of a good or service in resp...

Q: Economic History of North America ) Discuss the role of the Hudson Bay Company in the fur trade?

A: In the British realm, the Hudson's Bay Company was founded in 1670. For the most of its history, HBC...

Q: Canada had the following distribution of Income after taxes in 2006 Based on the information in the ...

A: Gini Coefficient is a widely used measure for income inequality in the countries . Gini Coefficient ...

Q: Consider a firm that is currently producing a level of output that maximizes its profits. The firm g...

A: Given:  Revenue of the firm = $40 million per month. Worker Compensation = $30 million Renting of ma...

Q: - Draw an AS-AD model of an economy dealing with an inflationary gap. What is one iscal policy that ...

A: Inflationary Gap:- An inflationary can be explained as the disparity between the present actual GDP ...

Q: Below are three examples of an individual experiencing a wage change at various points in their care...

A: Employees will increase their working hours when they get an increment in their wages as well. There...

Q: Consider the household production model. An individual produces some of their meals using precooked ...

A: We know that demand for a good is influenced by several factors, which together are called Determina...

Q: Refer to the market demand and supply functions below: Qd =71,000 – 2,000P Qs = - 25,000 +25,000P Wh...

A: Given  Market demand equation Qd=71000-2000P           .... (1) Market supply equation: Qs=-25000+25...

Q: Why people struggled to pay rent and basic utilities during pandemic of COVID-19 even though they ha...

A: The lockdown during covid-19 has affected the performance of markets around the world. This is due t...

Q: If tax revenues are lesser government expenditures in a year, the budget deficit would be negative.

A: Tax Revenue: Revenue that is generated against the tax is termed as tax revenue. Tax is an important...

Q: From the given news article, if the average price of gasoline is P60.26 iter and there will be a P2....

A: Percentage change measures the change in value divided by the absolute value of the initial value. 

Q: Refer to the market demand and supply functions below: Qd=71,000 – 2,000P Qs = - 25,000 +25,000P Wha...

A: Qd = 71,000 - 2,000P Qs = -25,000 + 25,000P  

Q: Identify the current account balance, financial account balance, and reserve balance?  (a) An Ameri...

A: "Since you have asked a question with multiple sub-parts, we will solve the first three sub-parts fo...

Q: President Kwame Nkrumah of Ghana had the Akesombo Dam built on the Volta River. It was expected that...

A: Countries can overcome this stagnation and continue to grow by inventing new technology, according t...

Q: The relationship between output and eoyment is: O dirgct inverse Oup and down repeatedly constant

A: Firm hire labor in order to produce the required output and give them wages in exchange of their ser...

Q: Company X has a fixed expenses of 1.38M monthly and each units is produced at ₱20. Company Y has a f...

A: Concept A company's total costs often include both fixed and variable costs. For a particular time p...

Q: Ral needs to hire a new landscaping service to take care of the small garden outside his office. He ...

A: Maximizing: It will provide an opportunity to get the maximum outcome, suppose a seller is selling s...

Q: Which do you think welcomes or rejects globalization? Developed or undeveloped countries? Why?

A: Globalization refers to the process of integration among companies, government and people all over t...

Q: Which of the following statements about Macroeconomics is true: Both of the given options Studies th...

A: The statements can either be macroeconomic or microeconomics. Statements that examine the economy as...

Q: Possible methods for avoiding the externalities in a free-market economy?

A: An externality refers to the benefits or costs which are caused by yhe producers but are not incurre...

Q: If the overall public deficit is 4% GDP and the structural deficit is 2% GDP, then A The deficit gen...

A: The deficit which tends to occur when expenses tend to exceed revenues is known as the budget defici...

Q: Consider each scenario described below for the supply of t-shirts: • If there was an increase in pri...

A: Demand curve shows the quantity demanded by the customers at different prices in the market over a p...

Q: Is the following statement TRUE or FALSE? Please provide reason for the answer. The marginal propen...

A: The amount of money spent on products and services is referred to as consumption. Savings and consum...

Q: 3. The equation of the production function for calculators is q = 5KL + 30L, where q is total output...

A: Given the information: q = 650 unitsq = 5KL + 30LK = 20 units

Q: What is globalization in contemporary world? What is globalization in simple words? What is the impo...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: What would the Herfindahl-Hirschman Index (HHI) be in each of the following situations? 1 firm with ...

A:   The HHI is calculated by squaring each rival firm's market share and then adding the resulting fig...