Q: 10. If the United States changed its laws to allow for the legal sale of a kidney, which of the…
A: The quantity of a product that is sold into the market is referred to as supply.Because it is more…
Q: At $14.15, the demand (customers) for UB-shirts is 195. When the price drops to $13.00 the demand…
A:
Q: In the following normal form game, perform iterated elimination of strictly dominated strategies.…
A: The Nash equilibrium best course of action provided the strategy of rival firm has been given.
Q: How do you see the FUTURE OF GLOBALIZATION?
A: There has been an increase in the number of people, corporations, and governments engaging and…
Q: You have utility U=VC and $100. Stacy holds a gun to your head and says you must accept a gamble -…
A: Expected utility is an economic term that expresses the utility that a business or the whole…
Q: Suppose the following table records the total output and prices for an entire economy. The base year…
A: Nominal GDP is calculated on the current year price on the other Real GDP measures on Base year…
Q: 7. As the price level increases in an economy, what happens to the interest rate? Use the AD curve…
A: Money demand is for 3 motives 1. Transaction motive :- for buying goods and services 2.…
Q: The cost, in dollars, to produce x designer dog leashes is C(x) R(x) = 7x + 10, and the revenue…
A: Profit = TR - TC Where TR = Total Revenue TC = Total Cost Profit = -3x2 + 55x - 7x - 10 Profit =…
Q: Savings represents a) only funds supplied by foreigners, because Americans don't save. O b) the…
A: Loanable funds market deals with demand and supply of loanable funds to determine equilibrium…
Q: Use the following table to answer the next five questions. Market for Corn Price Quantity Demanded…
A: Demand curve shows a negative relationship between price and quantity demanded and supply curve…
Q: In the Lorenz curve, the final entry in the cumulative income column needs to be 0% 45% 100%…
A: Lorenz curve is a curve of distribution of income with an economy.
Q: The YTM on Apple bond is 3%. The tax rate is 21%. What is the after-tax cost of debt? Select one: a.…
A: Answer; Option C is right answer.
Q: 8. Which of the following occurs when someone uses confidential information to gain from the…
A: The security that in turn depicts the ownership of only a part of a corporation is being known as…
Q: 11. A key to business success is to decide in advance how to respond to the issues that underlie…
A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…
Q: The Aberdeen Fixed Rate Fund pays a dividend of 10% per year simple interest, If you invest $240,000…
A: As given simple interest rate = 10% Time = 3years Present worth = $240,000
Q: Which of the following is a topic of macroeconomics? a) the distribution of a person's income…
A: Macroeconomics studies the behaviour of an economy as a whole while microeconomics studies the…
Q: Table 2. Q TC FC VC MC AFC AVC ATC D SO 1 E $91 V F. M $49 3 G K N P. R $112 Consider the…
A: Answers Q7) As Q= 1, AFC = 91 = TFC/Q TFC = 91*Q = 91 E= 91
Q: Consider Alexei who makes $1,400 per week and just won a ‘set for life’ lottery ticket which…
A: Given, Alexei makes $1,400 per week and won a 'set for life' lottery ticketFortnightly payment :…
Q: Refer to the accompanying table to answer the next six questions. Quantity of Quantity of Monthly…
A: Equilibrium in the market occurs at the intersection of demand and supply curves.
Q: If the labour market is perfectly competitive, labour demand function is given by ND = a + bW and…
A: Labour marker is in equilibrium where labour demand is equal to labour supply.
Q: The existence of positive externalities associated with a programme of vaccination against a…
A: Externalities is the spillover effects of an economic activities of an agent which has impact on…
Q: Which of the following statements is FALSE? The monopsonist is a wage taker. The monopsonist has…
A:
Q: Assume that the MPC is 0.70. What is the income multiplier? Question 46 options: a) 0.3 b)…
A: MPC + MPS = 1 Where MPC is the marginal propensity to consumer MPS is the marginal propensity to…
Q: Question 6 If the economy were represented by the following graph, what is the appropriate monetary…
A: Let us start with the money market.
Q: with aid of example, discuss why and how a country adopt the mixed economy ? no reference material…
A: In the present world scenario, most countries in the world operate under the mixed economic system.…
Q: Pat sells widgets in a perfectly competitive market. Prices for widgets are lower in July than they…
A: Perfectly competitive market: - it is a market condition where there are many buyers and many…
Q: 6. The interaction of individual choices Immediately after an ice storm brought down power lines…
A: The potential benefits that an individual, investment, or organization misses out on when choosing…
Q: In Y In Y" = Xu In y In Y =,X, In Y X, X Productive characteristics, X Consider the Oaxaca framework…
A: Given information
Q: Which of the following is a sign that an economy is in poor health? a) a prolonged decline in total…
A: the correct option is a A prolonged decline in total output A prolonged decline in total output…
Q: How do economists define teacher quality? Discuss the strengths and weaknesses of this definition.
A: Teaching is a cultural activity, and perceptions of teacher quality have evolved as American…
Q: An increase in would lead to an increase in long-run economic growth. a) consumer spending and…
A: Economic growth is the permanent increase in real GDP per capita.
Q: Use the following table to answer the next five questions. Market for Corn Price Quantity Demanded…
A: Equilibrium in the market occurs at the intersection of demand and supply curves.
Q: In the Melitz (2003) model all firms that find exporting profitable will also find it profitable to…
A: It is an asymmetric two-country Melitz model.
Q: Describe 5 five negative externalities arising from the consumption and disposal of plastic bottles
A: The markets are the place where the meeting and interactions of the buyers and the sellers takes…
Q: Import quotas and import tariffs have qualitatively similar effects on equilibrium outcomes in…
A: Import Quotas:- Import quotas are a sort of trade limitation that places a practical limitations on…
Q: The following maintenance alternatives are considered for a new assembly line that has an a cost of…
A: Expected life = ∑Probability *Life Regime Service life by probability Expected Life 0…
Q: Which of the following statements concerning profit-maximizing firms in long-run equilibrium is…
A: In monopolistic market, 1) there are many number of buyers but only few number of sellers.2) There…
Q: Which allocation point in the short-run production possibilities frontier (PPF) will lead to the…
A: Production possibility frontier shows maximum level of goods that can be produced in the economy.
Q: Give long information about economic changes.
A: Economic change is defined as a change in the structure of an economic system.This results in…
Q: Consider a remote town in which two restaurants, All-You-Can-Eat Café and GoodGrub Diner, operate in…
A: From the information given we complete the table: Clean Up Does not Clean up Clean Up…
Q: Explain why a sudden, large burst of inflation could lead to a recession?
A: Inflation is the continuous rise in the price level of commodities in a nation over a period of…
Q: Given a normal distribution with u= 51 and o = 8, and given you select a sample of n= 100, complete…
A:
Q: During the Great Recession, the U.S. aggregate demand curve shifted to the left, in part, because a)…
A: Recession refers to a period of time where fall in economic activity can be observed all across the…
Q: Many economists attribute the troubles of the Great Recession in housing markets to a) an increase…
A: Stock market crash, which lead to an inquiry at banks, where the sub-prime mortages problems were…
Q: regulate production · Each individual works for his own success Pure Communism • Government does not…
A: In capitalism, the main variables and choices are left to the market conditions to determined. It is…
Q: When decision-makers have time to fully adjust to changes in the overall price level, we refer to…
A: We have define, the term in long and short run.
Q: It is thought that the most important source of labour market discrimination facing women is that:…
A: Women are still facing the discrimination at the work places. These women are not being paid…
Q: Which of the following can cause both a shift in supply and a shift in demand? O a) the number of…
A: There are various determinants that affect demand and supply. Any change in the price of the good…
Q: On the day his son was born, a father deposited to a trust company a sufficient amount of money so…
A: A lender charges a borrower an interest rate that is a percentage of the principal (the amount…
Q: 3. From the following graph, show the equilibriums under each scenario. Market is in equilibrium at…
A: Equilibrium in market Equilibrium is a state in the market where the demand of the market and…
Refer to substantive judgements of fairness Is the lottery a fair way to allocate economic resources
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Is the lottery a fair way to allocate economic resources? Discuss, referring to both of the following: procedural judgements of fairness substantive judgements of fairness →Is the lottery a fair way to allocate economic resources? Discuss, referring to both of the following:a)procedural judgements of fairnessb)substantive judgements of fairnessIs the lottery a fair way to allocate economic resources? Discuss, referring to both of the following:
- One way of looking at the fair distribution of benefits and burdens in society states that society will have some inequalities, but that when these inequalities occur, the least-advantaged person should be better off than he or she would have been if the inequality did not exist. This concept is referred to as: Principle of equal liberty Difference principle Principle of fair equality of opportunity Law of non-contradiction None of the aboveEconomists describe a choice as: Group of answer choices A. a tradeoff B. human C. limited resource D. None of the above.A voluntary exchange must be just. Which type of economic justice this statement is describing?Select one:a. Rectificatory justiceb. Reciprocal justicec. Distributive justiced. Retributive justice According to Ricardo, which was not the factor that determines the Value in Exchange of a commodity?Select one:a. Its scarcity.b. Labor time.c. Utility. Adam Smith emphasized the division of labor increases output because ofSelect one:a. Invention of new machinery.b. Increase labor skill.c. Time consuming.d. Increase efficiency. Charles Fourier was one of the major figures of Socialism. Which type of socialism that he adopted?Select one:a. Christian Socialismb. Utopian Socialismc. Communismd. State Socialism If 2 hours required to catch a beaver and only 1 hour to catch a deer, the relative price or value in exchange for a beaver is 2 deer or 2 hours of labor command. This example was given bySelect one:a. Thomas Robert Malthus.b. Adam Smith.c. David Hume.d. David Ricardo. [1/5, 1:58 PM]…
- Please answer all the questions, thank you. True or False 5. Minimum wage laws check the problem of purchasing power of income and solve income inequality. 6. In developing countries, demographic transition was slower than in developed countries. 7. Rural-urban migration can be prevented primarily through provision of free education. 8. Agglomeration refers to the coming together of firms whose products are correlated in a location thus allowing for the coming together of their workers. 9. Prisoner’s Dilemma takes place when the actions taken by one firm gives the incentives for other agents to take similar action.Public Good Contribution: Three players live in a town, and each can choose to contribute to fund a streetlamp. The value of having the streetlamp is 3 for each player, and the value of not having it is 0. The mayor asks each player to contribute either 1 or nothing. Each player makes a decision without knowing others’ contributions. If at least two players contribute then the lamp will be erected. If one player or no players contribute then the lamp will not be erected, in which case any person who contributed will not get his money back. Write down the strategy sets of each player, their payoffs, and find all pure-strategy Nash equilibria.Liberal view, which prevails in economics education today, ......... choose one or more a) society is something more than the simple sum of individuals b) adopts an individualist approach c) does not take into account social categories such as power, state, and social classes in economic analyses d) argues that society is nothing more than the simple sum of individuals
- Negative rights are defined entirely in terms of the duties others have not to interfere with you. True False Utilitarianism is attractive to many because it matchesthe views we tend to hold when discussing governmental policies and public goods.True FalseExplain the concepts of Pareto efficiency, fair allocation, and unfair allocation as applied in welfare economics.Which of the following is true? a. Human choice is generally not influenced by changes in incentives. b. Using scarce resources to meet one need reduces our ability to meet needs in other areas. c. The economic way of thinking stresses that good intentions usually lead to sound economic policy. d. What is true for the individual must be true for the group as a whole.
