In the production possibilities frontier (Figure 1- Z on the vertical axis, H on the horizontal axis) shown below, for a rational individual who cares only about health ("H"), they will choose to produce the level of home goods and health associated with B H
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- When using the social ecological model, which of the following would be considered part of the "exosystem" of influence on an individual's physical activity? O Personal factors O public policy O Institutional factors O Exosystem does not exist in the social ecological model If you have a client who wants to work out on his own, which of the following method of prescribing exercise intensity you should recommend to be more accurate? O Rating of perceived exertion (RPE) O Talk test O % Age predicted HRmax O % Heart rate reserve (measured)Pareto efficiency, or Pareto optimality, is an economic state where resources cannot be reallocated to make one individual better off without making at least one individual worse off. Pareto efficiency implies that resources are allocated in the most economically efficient manner, but does not imply equality or fairness. An economy is said to be in a Pareto optimum state when no economic changes can make one individual better off without making at least one other individual worse off.To simplify analysis and discussion the model for general equilibrium uses the two person, two goods and two resources (or 2 X 2 X 2 model). The investigation is done in three steps:• Consumption efficiency • Production efficiency• A combination of Consumption and Production efficiencies. Critically analyze the concept of Pareto efficiency. Use relevant theory and diagrams to support your analysis.Assume our standard model. It takes Andreas 60 minutes to make a unit of beer and 15 minutes to make a unit of chips. Assuming he is on his PPF, what is his opportunity cost (in chips) of making 1 more beer?
- Given a production possibilities curve for investment goods and consumption goods, which of the following statements is true? Select one: a. A production point outside the current curve may be attained if the opportunity cost of producing an extra unit of the good measured on the horizontal axis remains constant. b. Acquiring a new technology would push the PPF inwards towards the origin. c. A production point outside the current curve can be efficiently produced with the current level of resources and technology, if the marginal cost of producing one more unit of consumption goods equals the marginal benefit. d. A production point below the PPF suggests that more of both goods can be produced with current resources and technology. e. Shifting resources to make more consumption goods is likely to enable attainment of a production point outside the current curve.How Bergson-Samuelson Social Welfare Function used in a model that considers a society's desire for both Pareto optimality and fairness, Mention all necessary assumptions and specify the conditions that ensure a general equilibrium and social welfareA production possibilities frontier is shown below (Z, "Home Goods," on the vertical axis; H, "Health," on the horizontal axis). Suppose that the individual is producing the combination associated with point B, but they prefer to be at point C. Given this information we might say that this combination is ____. A. productively efficient but allocatively inefficient. B. productively efficient and allocatively efficient. C. productively inefficient and allocatively inefficient. D. productively inefficient, but allocatively efficient.
- Suppose that the church offers free tuition to Inanda Seminary High School students with a "B" average. In 2020, the church raised the requirement so that fewer students qualified for the scholarship. At the same time, the church increased spending on health care. Suppose that high school education is on the vertical axis and health care is on the horizontal axis of a PPF. These changes a. will cause a shift out of the PPF. b. are an example of incentives C. are an example of a tradeoff. d. will cause a shift in of the PPF.Which scenario illustrates initiative as a motivator for behavior change? José notices that he doesn’t feel well when he drinks milk, so he eliminates milk from his diet. Alan’s girlfriend will buy him a new shirt if he stops using chewing tobacco. Gretchen thinks about how happy her doctor will be when he hears that she has been exercising regularly. Mike decides to take boxing lessons so that he can defend himself from bullies.As an economist, clearly demonstrate how intra and inter temporal choice models can make society incur an opportunity cost if not managed adequately and effectively.
- Fisher claims that the counterparts of particle and energy in mechanics are individual and utility in economics. The 2nd law of thermodynamics, on the other hand, asserts that free energy is irreversibly converted to bound energy as entropy continuously increases in the universe. Discuss whether the mainstream economics is compatible with the universe described by thermodynamics.“clearly demonstrate how intra and inter temporal choice models can make society incur an opportunity cost if not managed adequately and effectively”?what are the major differences between he econmic model of social responsibilty and the socioeconomic model
