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Q: Explain three limitations of Gross Domestic Product.
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A: A budget line is a straight line that slope downwards and consists of all the possible combination o...
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A: We know whether it is developed or underdeveloped countries each has to face the central problem whi...
Q: For K > 0 and L> 0, the production function F(K,L) = 2KL + K has a. increasing returns to scale b. d...
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Q: You own a company that produces widgets. You currently produce 100 widgets; each widget sells for $1...
A: Total Revenue Total revenue is the totality of a sales amount from all of its products and services ...
Q: Money spent on the research and development (R&D) of new products represent spending. deficit govern...
A: Research is defined as "creative and systematic work undertaken to increase the reservoir of knowled...
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Q: For K > 0 andL > 0, the production function F(K,L) = 2KL + K has a. increasing returns to scale b. d...
A: It has given that, K > 0 and L > 0 Now,F(K,L)=2KL+KAs K>0 and L>0lets assume K=2 and L=2...
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A: LRAS is the long-run aggregate supply curve. This curve determines the macroeconomic level of supply...
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A: Given that drug X and drug Y are related in consumption then,
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Q: Japan and the United States are major trading partners and the exchange rate between the Japanese ye...
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A: Elasticity measures the responsiveness of quantity to changes in the price level.
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A: True Consumer goods refer to the items that are bought by the average consumer and are mainly final ...
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Q: For the same demand function as above, i.e., 3P, + 5Q, = 120, calculate Q; att = 5. Assume that %3D ...
A: Introduction demand function can be written as 5 Qt = 120 - 3 Pt we have to calculate it for t = 5, ...
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A: Present worth is an equivalence method of analysis in which a project's cash flows are discounted to...
Q: Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training costs. U...
A: Labor Cost = $22/hr Training cost = $160/hr Wage = $20/hr G = 1/Workers
Q: How does discretionary income affect your choices for wants and needs?
A: Income refers to the reward which a factor of production gets for his services. Income may be in the...
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- Explain what the Marshall-Lerner condition represents.Medicare recipients can purchase supplemental private insurance (known as Medigap insurance) to fill the gap in coverage left by Medicare. This gap includes copayments, deductibles, and prescription drug expenses not covered by Medicare. Several years ago, the government enacted regulations that specify minimum standards for items that Medigap policies must cover. This made the policies more expensive, and as a consequence, about 25 percent of the elderly who would have purchased some Medi-gap insurance purchased none at all [Finkelstein, 2004]. Consider an individual who consumes two goods, "insurance" and "all other goods." The cost of a unit of Medigap insurance is $1, as is the cost of a unit of all other goods. Sketch a budget constraint and set of indifference curves that are consistent with the following scenario: In an unregulated market, an individual with a $30,000 income purchases $5,000 worth of Medigap insurance. The government then puts mandates on Medigap policies that…Indicate whether the statement is true or false, and justify your answer.Health status earlier in life is a good predictor of wealth later in life.
- After entering a lease in Uganda, a US company has increased crop production which has been documented to have contributed to food security in Uganda. However, an NGO raises concerns that the company unfairly took over a community’s land and should therefore be held accountable. From which perspective is the NGO most likely operating? A Idealism ethic B Utilitarian ethic C Pragmatic ethic D Rights-based ethic Approximately 48% of children were living in multidimensional poverty prior to the onset of the Covid-19 pandemic. Since the pandemic... A multidimensional poverty increased dramatically, to more than 75% B multidimensional poverty has been debunked, it is not a valid measure of poverty C poverty has not changed D multidimensional poverty increased by only a few percentage points - many of the problems pre-date Covid-19Since the replacement of AFDC with TANF the welfare rolls have grown in the United States. O True False Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.Indicate whether the statement is true or false, and justify your answer.Body mass index (BMI) is a reliable measure of obesity.
- describe how COVID-19 may differentially affect families across the socioeconomic spectrum. That is, how might the consequences of COVID-19 for families with low SES be similar to or different from the consequences of COVID-19 for families with high SES?How can extensive government intervention influence health economicswhich of the following is the correct interpretation of the multicollinearity test?
- Given standard deviation of two per capita incomes and the percentiles per capita income, what can you conclude about income inequality in America? Standard deviation Income 1: 12,000 Standard deviation Income 2: 13,000 Percentile 0.1 20000 0.2 22000 0.3 24000 0.4 26000 0.5 28000 0.6 30000 0.7 32000 0.8 38000 0.9 40000The random control trials (RCT) or random experiment (RE) method adopted from the medical world by development economics is currently believed to be the best method in understanding poverty and inequality and finding solutions to solve them. Critically explain the views of proponents of this RCT by also briefly describing the method.The American system of health care is financed by a mix of private and government insurance programs that pay over 80 percent of the health care bills for U.S. citizens. O True O False