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- Please explain how the production possibility curve works in Economics need graph with explaination do not use ai not plagarize thanks in aduvance 15 minWhat is meant my the normative economics. Explain in detail.( gas prises are rising because ther aren't enough oil refineries) ( gas prices are rising becuae of the growing demand for gasoline from india) Are they normative or positive statment?
- a. A 5 percent fall in the unemployment rate will lead to a 2 percent increase in the inflation rate" b. "Pollution in developing countries is one of the biggest global environmental problems" 3,Which of the these statements is an example of "positive" economics 4.Which of these statements in an example of :normative "economics"Need help with macroeconomic my little choice review question 26. Suppose that a University’s tuition is $7,000. The cost of textbooks is $1,000, and the cost of food & housing is $19,000. If you did not go to the University, you would have worked as a server, making $50,000 per year.What is your opportunity cost of attending The University?(A) $27,000. (B) $77,000. (C) $58,000. (D) $50,000. 27. Wakanda has a GDP of $720 trillion and a population of 6 million. What is Wakanda’s GDP per capita?(A) $120,000,000.(B) $720,000,000,000,000. (C) $100,000,000,000. (D) $833,333,333.ASAP!! ANSWER PLEASE Suppose there are only two commodities that can produced in an economy, computers and cycles. If the producer decides to produce one more cycle then why does it cost more to produce the second cycle than to produce the first one, assuming that the cycles are identical? Elaborate your answer using the concept of Production Possibility curve
- Consider a simple economy of Korea - producing two goods, Motor bike and milk. The details ofthe economy and its production is as follows: Motor Bike (1000 / year) Milk (1000 gallons per year) 0 601 502 303 0 d) According to the (BGH) technology, farmers can now get double the amount of milk fromcows easily. In terms of PPF, this means Korean economy can now produce twice milk ateach level of bike output. With the current production of 2000 motor bikes, Mr. B claimsthat this new technology can allow this economy to produce more milk and more bikes. Doyou agree with this statement or not?e) Explain carefully, with the help of diagram and justify your answer.Assume efficient production. Lagertha can spend her time either fishing or forging swords. She has 86 hours in a week to allocate between these two tasks. In one hour she can catch 5.4 fish. She takes 15 hours to make one sword. What is the opportunity cost of an additional sword in terms of fish?The quantities shown are taken from a production possibilities frontier for an economy with diminishing returns. The blank in the table could be which value? Bags Courses 40 300 60 ? 80 100
- (a) Explain the characteristics of the production function used in the Heckscher-Ohlin (H-O)model. (b) Explain with the help of a graph how we can determine the specific combination oftwo goods that can be produced in the economy in the H-O model.Can you answer this economics problem please and show work/ excel pleaseA. INDICATE WHICH OF THE FOLLOWING IS A POSITIVE OR NORMATIVE STATEMENT I. "Earnings increase with education because education raises a worker's productivity."II. The taxes imposed on gasoline in Barbados is excessive and inequitableto motorists.III. A decrease in income will result in a fall in the demand for motorcycles.IV. Rising flour prices will increase the price of bread.V. The government is more concerned with inflation than unemployment.VI. People are worried about the effects of joining the CSME.