Identify 2 possible exclusions to GDP and discuss why they have to be excluded.

Q: a. What does the expression “marginal product of labour” mean? b. Why do workers (skilled and unskil...

A: Labor is the one of the most important factors of production. The labor with help of other resources...

Q: Which of the following importation is not subject to consumption tax? *   Importation of ornamenta...

A: When talking about consumption tax, it is the tax that is imposed on the use of final goods and serv...

Q: xplain the difference between positive and normative economics with example.

A: Positive economics is defined as a stream of economist which focuses on quantification, identificati...

Q: Calculate change in price uf elasticity of is-2 and percentage change  in Quantity demanded is 5%

A: To determine the link between quantity demanded and demand determinants, elasticity of demand is use...

Q: which statement is correct If a good is not being produced by sellers with the lowest cost, then th...

A: Profit Maximization level: The level of production that maximizes the profit of the firm or the leve...

Q: Suppose a company has fixed costs of $4000 and variable costs per unit of x + 1160 dollars, where x ...

A: Given, fixed cost = $4000 variable cost = 1516x+1160 selling price = 1300 - 116x [a] For Breakeven p...

Q: Price (dollars per burrito) $3.00 2.50 2.00 1.50 1.00 Demand Quantity (burritos) 1. 3. 2.

A: From the given data, we can see that seller's total revenue will be maximised when the price is $1.5...

Q: gold mine is projected to produce $15,000 each year during its first 4 years of operation, and then ...

A: In economic aspects present worth, otherwise called present limited worth, is the worth of a normal ...

Q: which statement is correct Moving production from a high-cost producer to a low-cost producer will ...

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...

Q: Suppose your wealth is 8 and you are considering a bet of a 50% chance of winning $4 and a 50% chanc...

A: Initial Wealth = 8  Probability of winning (4) = 0.5 Probability of loosing (4) = 0.5  Utility funct...

Q: a. What are the equillibrlum price and quantity and at equilibrium what Is the value of the producer...

A: Here we calculate the value of price  , quantity  , producer surplus , consumer surplus and economic...

Q: Define MARKET FACTORS?

A: In a market, when talking about market factors, they are the variables that has the potential to cha...

Q: Rewrite it

A: The article is about the PPF. PPF refers production possibility frontier, which is also known as the...

Q: When talking about compensating wage differentials and the market for risky jobs, we assume that the...

A: Compensating wage differentials refer to higher wages that are required to be offered to the labor f...

Q: What are the pressures that encourage MNEs to establish in newly industrialising countries?

A: Factors that have been encouraging MNE;s to establish and expand in the industrialized countries are...

Q: Suppose ATC (Q=500) = $300 per unit & ATC(Q=501) = $301 per unit, where Q denotes output level, ATC ...

A: GIVEN     Suppose ATC (Q-500) = $300 per unit  ATC(Q=501) = $301 per unit where Q denotes outout lev...

Q: 4. Assume wealth w; and assume two goods, 1 and 2, with prices p1 and p2, and Walrasian demands x1 a...

A: Please find the answer below.

Q: What are the breakeven points and the range of profitability for below given Total profit general eq...

A: Breakeven is the amount of output for which the total cost equals total revenue and the firm is earn...

Q: Q2. Given the following data in 2020, calculate the country's GDP in that year. Show steps of your c...

A: Investment= Purchases of capital equipment+ Purchases of structures+ Inventory accumulation Investme...

Q: Refer to the figure below and assume that the values for points a, b, and c (the combined value of c...

A: At point a = $20 billion point b  = $40 billion point C = $36 billion

Q: 3. As an economist, you have been assigned a task by the Lahore Cantonment Board to propose a projec...

A: Kind of the project for the cost-benefit analysis (CBA) is refer to the process and it is the benefi...

Q: In a paragraph with a maximum of three sentences, explain the difference between an ordinary busines...

A: Business: The term business refers to an organization which has element occupied with business, or a...

Q: happens to the marginal product labor? Y=zF(K,N) Labor (N) O It increases O It decreases O It increa...

A: The production function depicts the technical association between the quantities of output (Q) that ...

Q: The table below shows economic information for a hypothetical economy with a flexible exchange rate...

A: Here, the given table pro information about CPI, labor force, employed people, foreign debt and fore...

Q: portional income tax on the representative cc sumer's wage income. That is, the consume wage income ...

A:

Q: are goods more expensive in 2021 with a CPI of 271.4 or in 1930 with a CPI of 17.7? Why or why not

A: Given: CPI 2021=271.4 CPI 1930=17.7

Q: Suppose the Following information was published by Australia Bureau of Statistics in 2017: Item A...

A:   Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation u...

Q: 3 Suppose o and I play the game veck-paper- scisser twice Xesume mixed stratejos (ran domi zng ng th...

A: Rock paper scissor game is associated with payoff such that : => Simultaneous game . => If bot...

Q: Use the following graph: The graph below pertains to the supply of paper to colleges and universitie...

A: Suppliers are the people who incur the costs of production and make the final goods available to the...

Q: A CNBC new story published 14 December 2021 reports, “OPEC and non-OPEC oil producers, an influentia...

A: OPEC stands for Organisation of the petroleum Exporting Countries . It is big example of cartel wher...

Q: Sally is trying to decide what flavor of cake to make for an upcoming party.  She polls some of her ...

A: Approval Method of making a choice is the one in which participants are provided with the choices an...

Q: Explain how an export subsidy is theoretically meant to work. Think of the application to “infant in...

A: According to the infant-industry hypothesis, nascent sectors in developing nations require protectio...

Q: 7. Effect of a tax on buyers and sellers Part 2 The following graph shows the daily market for wine....

A: The dynamics of demand and supply determine the equilibrium price and quantity in a free market, but...

Q: The following are two hypothetical ways in which the Federal Reserve Board might be appointed. Would...

A: The Federal Reserve System's main governing body is the Board of Governors of the Federal Reserve Sy...

Q: Say that a certain stadium for professional football has 70,000 seats. What is the shape of the supp...

A: Given that the stadium contains 70,000 seats.  

Q: “Trading blocs”/ Regional Integration efforts maybe considered the status quo for international trad...

A: The process through which the world is becoming interconnected due to a massive increase in cultural...

Q: 4. Assume wealth w; and assume two goods, 1 and 2, with prices pi and p2, and Walrasian demands x1 a...

A: An Alfred Marshallian demand function (named after him), in microeconomics, is the quantity of a giv...

Q: Smith, Jones, and Brown were creditors of White, who operated a grain elevator known as White’s Elev...

A: This is the form of business entity which is formed by an agreement, owned and managed mutually by t...

Q: Discuss advantages and disadvantages of monopoly and perfect competition market structures. Would a...

A: A monopoly is a company's dominant position in an industry or sector to the point of excluding all o...

Q: In the graph, if the government sets a price floor of 90 75 50 25 10 D 200 500 800 O shortage of 600...

A: Price floor refers to the legal minimum price that can be charged for a good. 

Q: Often the marginal cost (MC) is initially decreasing as Q rises because... the marginal productivity...

A: Marginal product refers to change in total output due to an addition of one more unit of input.

Q: a. What is the "particular form of price elasticity" that Moore's Law is said to have? b. Give a bri...

A: Step 1: Price elasticity: Price elasticity is an estimation of the adjustment of the utilization of ...

Q: If, in a monopoly market, the demand function for a product is p = 160 − 0.10x and the revenue f...

A: Demand function shows the functional relationship between Quantity demanded for a commodity and its ...

Q: 5. This is the sequel to a question on the previous P-set that used this aggregate production functi...

A: Given production function  Y=A×K×L             For A=2 and K=3 Y(L)=23×L                ... (1) For ...

Q: Suppose you make an annual contribution of P8,117 each year to a college fund for a niece. He is 5 y...

A: Here interest will be calculated from the age of 6 till the age of 21  . And last contribution will ...

Q: Market for used cars: Demand: Q-154,000- 86P Supply: Q, --100 + 14P Refer to Equation 1. What would ...

A: Here we calculate the equilibrium price and quantity for car by using the given demand and supply , ...

Q: If the governments efforts to reduce demand are effective, what happens to price and usage of mariju...

A: If the demand is reduced by imposing heavy taxes and excise duty, then it would lead to the high pri...

Q: Basu suggested that the aim should be to direct money into the hands of the poor and even some of th...

A: Economic growth -  economic growth is a situation whereby the gross national product of the economy ...

Q: Vhat are the breakeven points and the range of profitability for below given Total profit general eq...

A: Profit is the difference between Total revenue and total cost . As we know each firm's objective is ...

Q: Certainty Utility D 200 198 194 D' Total utility 170 Expected Utility of wealth A 140 10,000 15,000 ...

A: (a)   (a) Expected utility guides consumer to select among risky choices. Certainty utility gives mi...