How might a consensus on economic goals impact the creation of economic policy? How might a lack of consensus on economic goals impact the creation of economic policy?

Q: Nation alpha can produce either 3 units of good X or 1 unit of good Y with 1 hour of labour whereas…

A: In one hour of labor:Nation alpha can produce= 3 units of good X or 1 unit of good YNation beta can…

Q: Country A bans imports of country B beef. What type of poilic was this ban and what economic reasons…

A: Introduction Beef industry play an important role in economic output and contribution in any…

Q: Concepts of justice are related to economics under the topic of ____, wherein the concepts of John…

A: Answer- Need to find- Concepts of justice are related to economics under the topic of ____, wherein…

Q: n the Heckscher-Ohlin-Vanek model with trade a country that is labour abundant will     export the…

A: Heckscher-Ohlin-Vanek model states that trade results on account of the different relative prices of…

Q: Discuss whether a government should always pursue a policy of free trade

A: The capacity of countries to import and export goods without tariffs or other restrictions is…

Q: Consider two countries, A and B. Assume that both countries have identical physical endowments of…

A: In the instance at hand, Country A has a regime-driven economy, in which the government limits the…

Q: Which among the sentences stated below can be said to be most true O Analyzing the literacy rate,…

A: In an economic, economic efficiency is classified as allocative and productive that can be obtained…

Q: Imagine that the leaders of a poor nation with a centrally planned economy become willing to try a…

A:

Q: Philippine Economic History Having read about the economic history during the Marcos administration…

A: Ferdinand E. Marcos served as President of the Philippines from 1966 to 1986, a span of nearly two…

Q: What steps are involved in developing and testing an economic theory or model? What are the criteria…

A: As wants and desires of the individuals in the economy are unlimited but resources possessed by an…

Q: What policy implications to economy can be derived from our experiences in the pandemic? If you were…

A: The coronavirus pandemic has impacted the economy of almost all countries. The market for essential…

Q: What are the effects of globalized capitalism?   What is the principle of neoliberalism?     What…

A: Answer- "Thank you for submitting the questions.But, we are authorized to solve one question at a…

Q: In your own words, explain the concept of the “invisible hand” as it relates to economic theory. Why…

A: In this ,the entrepreneurs are the self interested individuals who are interested in making certain…

Q: “In an era of globalization, firms build cross-border alliances or international strategic alliances…

A: In the current era of globalization, people considered it as the beneficial move of the countries…

Q: Is the following statement true, false, or uncertain? If true, explain why. If false, provide an…

A: Utility is a term referring to the overall satisfaction obtained from consuming a good or service.

Q: In order to satisfy as many wants as possible, a society must achieve productive efficiency:…

A: In economics, production is defined as the process of converting input into output. Input refers to…

Q: What does it mean to have a globalized economy? International trade is significant to all continues…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Which of the following refers to an economy which most economic decisions are made by the government…

A: While in laissez-faire free markets (market-oriented) economies, demand and supply are determined by…

Q: Consider the following Ricardian model with 2 countries and 2 goods. The table below provides…

A: Both concepts help the country to trade between them. They are related to international trade.…

Q: Which of the following statement is not true? * O A country's political economy is independent of…

A: A country's political economy encompasses both its political and economic systems. The political…

Q: Economic models are presented     Through graphs and / or mathematical equations     With graphs…

A: Economic models are used to make predictions about the economic behavior. It gives the analyst a…

Q: At one time, it was believed that the way for a nation to prosper was to export as much as possible…

A: Export: It refers to the sale of goods and services which is being done by one country to other…

Q: Positive economics is: a. An investigation or statement that attempts to examine or understand how…

A: Positive economics is a stream of economics focused on identifying, quantifying, and explaining…

Q: Which of the below statements is INCORRECT about about a specific market economy such as the U.S.…

A: In a market economics government bureaucrats direct everything from a number of bars of soap a…

Q: Is globalization, characterized by a rapid exchange of goods, people, capital across different…

A: As a result of cross-border commerce in commodities and services, technology and investment, people,…

Q: Among the most significant decisions made by Angela Merkel in her 16 years as chancellor of Germany…

A: Angel Merkel is a German politician who has served as German chancellor since 2005. He served as…

Q: Suppose that each worker in France can produce either 20 units of food per hour or 80 units of…

A: Each worker in France can produce either 20 units of food per hour or 80 units of machinery per…

Q: meant by production and consumption being pro-trade, antitrade, or neutral? What are the terms of…

A: Trade is defined as the movement of goods and services from one nation to the other. It involves…

Q: Consider the following Ricardian model with 2 countries and 2 goods. The table below provides…

A: It is the model of international trade especially called comparative advantage theory.

Q: The concept of _________ __________ was introduced by economist David Ricardo, and it posits that,…

A: David Ricardo introduced a new concept of international trade in 1817.  He said that trade will…

Q: The disagreement between these economists is most likely due to Despite their differences, with…

A: The answer is given below

Q: How does a straight-line production possibilities boundary differ from a concave boundary?

A: A production–possibility frontier (PPF), production possibility curve (PPC), production possibility…

Q: Economists are considered policy makers when they     Try to change the world     Try to explain…

A: In an economy, economists are the people who study the behavior of economic variables and their…

Q: In what way do the import and export documents play an important role in ensuring that the…

A:

Q: Discuss the manner in which Smith can be said to be writing in the “enlightenment” tradition.…

A: Invisible hand, allegory, presented by the eighteenth century Scottish rationalist and business…

Q: explain which policies should be adopted by countries to limit the increase of CO2

A: The countries are now worried about the carbon and green house gas emission and wants to adopt…

Q: If a country can produce more of a good than other countries with a given amount of resources, we…

A: Absolute and comparative advantage are too very important concepts of International trade as they…

Q: The basic principles of economics suggest that   a.  markets are seldom, if ever, a good way to…

A: There are 10 basic economic principles according to Gregory Mankiw.   Government should become…

Q: How can government involvement in an economy help or hinder the expansion of the production…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: Which of the following statement is a positive statement? a. More students should study economics.…

A: Economic statements help in understanding the meaning of different statements that are made by…

Q: List down at least 5 examples of the following: Security Regionalism Economic regionalism Political…

A: Security, economic and political regionalism are institutional arrangements designed for effective…

Q: 19. One research is being conducted about how gold prices change due to the changing preferences of…

A: Economics is a branch of social science that studies how different agents in a social construct…

Q: Consider the following Ricardian model with 2 countries and 2 goods. The table below provides…

A: 1) Since, the opportunity cost of 1 unit of juice is less in China and the opportunity cost of 1…

Q: what are the advantages and disadvantages of open economies and closed economies?  How has covid and…

A: An open economy is one that engages in international trade of goods, services, and financial assets.…

Q: What happened to the tourism industry after the post covid-19 in terms of Economics?

A: The travel industry keeps on being one of the areas hit hardest by the COVID-19 pandemic, especially…

Q: If the future leader of our country will use the ideas and principles of Marxism, how can it…

A: As per Karl Marx version of economics, People depend on basic amenities without which they can never…

Q: how was the success of the Reagan administration in curing the nation's economic woes, and detail…

A: How was the success of the Reagan administration in curing the nation's economic woes Ronald…