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A: An economic model represents the real-life scenario through the equation or graph.
Q: what is the purpose of the circular flow model?
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A: Macroeconomics refers to that branch of economics which is concerned with the entire economy as a…
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- Macroeconomics is the branch of economics that deals with:(A) the prices of individual goods (B) important rather than trivial issues (C) how individual markets work (D) the economy as a wholeEconomics is best defined as the study ofa. how society manages its scarce resources.b. how to run a business most profitably.c. how to predict inflation, unemployment, andstock prices.d. how the government can stop the harm fromunchecked self-interest.Macroeconomics is the study of a. the behavior of large firms in the marketplace b. the economic behavior of individual decision makers c. the behavior of the economy as a whole d. how to use the fewest natural resources to produce goods and services
- hi i did question 6) but i need help for question 7 and this question for macroeconomics but on bartleby does not show any option for macronomicsSelect the correct answer. Which of these is a major effect of innovation? A. job creation B. unemployment C. high inflation D. fewer financial products Select the correct answer. Claire is the head of product design for her company. She has to create the layout for the next generation of smartphones. She has decided to build on ideas from the consumer’s perspective. Which part of the consumer’s expectations should Claire concentrate on? A. to minimize post-sales service B. to minimize product innovation C. to maximize product cost D. to maximize product utility1. Classify the following topics as relating to microeconomics or macroeconomics. a. A family’s decision about how much income to save b. The effect of government regulations on auto emissions c. The impact of higher national saving on economic growth d. A firm’s decision about how many workers to hire e. The relationship between the inflation rate and changes in the quantity of money 2. Classify each of the following statements as positive or normative. Explain. a. Society faces a short-run trade-off between inflation and unemployment. b. A reduction in the rate of money growth will reduce the rate of inflation. c. The Federal Reserve should reduce the rate of money growth. d. Society ought to require welfare recipients to look for jobs. e. Lower tax rates encourage more work and more saving
- Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier respective impacts on the rate of the nation's economic growth b) the effect of government regulations on car emissions c) the decision by Mc Donalds to hire fewer workers becuase of an increase in the minimum wage d) the stock market plunges by 1000 points due to uncertaintyii. Identify each of the following topics as being part of microeconomics or macroeconomics: a.the impact of a change in consumer income on the purchase of luxury automobiles b.the effect of a change in the price of Coke on the purchase of Pepsi c.the impact of a war in the Middle East on the rate of inflation in the United States d.factors influencing the rate of economic growth. e.factors influencing the demand for tractors. f.the impact of tax policy on national saving.Macroeconomics or Microeconomics a. Tesla announced the development of a million mile electric car battery that is ready to launch b. The Bureau of Labor Statistics projects a 20% increase in the number of workers in tourism industry from 2009-2019
- Economic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behaveplease help me out please Economic Systems Essay Compare and contrast the ways in which traditional, market, and command economies answer the three major economic questions. Your essay should be structured around the three economic questions, and explain how each system answers those questions. Structure: 1. Introduction. 2. What to produce? 3. How to produce? 4. For whom to produce? 5. Conclusion. In each paragraph talk about how the economic systems answer the questions. You can create exmples to make your point.Choose whether is microeconomics or macroeconomics's and provide a justification for your choice. 1)Telsa announced the development of a million-mile electric car battery that is ready to launch. a.macro, examining one firm in economy b.macro, examining entire economy c.micro, examining one specific firm d.micro, examining one sector of economy e.macro, examining one sector in economy f.micro, examining one individual 2) Airlines project a drastic reduction in international travel for this quarter.This might result in the layoff of workers. a.macro, examining one firm in economy b.macro, examining entire economy c.micro, examining one specific firm d.micro, examining one sector of economy e.macro, examining one sector in economy f.micro, examining one individual 3) The government issued stimulus cheques to citizens to offset effects of covid-19. a.macro, examining one firm in economy b.macro, examining entire economy c.micro, examining one specific firm d.micro,…
