Prices and wages help coordinate economic activities. Why?

Q: Victoria founded a start-up several years ago, together with her Macedonian friends. At first, she…

A: The satisfaction or pleasure that consumers get from consuming a commodity or service is referred to…

Q: Refer to Daisy's PPF. Assume Daisy got a pie making machine that allowed her to make 21 pies per…

A: Daisy has got new technology for the production of pies.  She can either produce 21 pies or 20 tarts…

Q: Which game form is best suited to games with simultaneous decisions about strategy? Extensive Form…

A: Simultaneous decision-making requires choosing actions without having any knowledge of the action…

Q: Consider the market for plums as perfectly competitive.  Please use perfect competition explanation…

A: In the market for plum, prices are skyrocketing, which implies that prices are increasing rapidly.

Q: 1. Suppose that the Total Benefit schedule to conduct Activities X and Y is given in the table…

A: Price of X = 2 and Price of Y =2

Q: onsidering that resources are scarce, is it a good decision to allow China to explore and use up the…

A: (A trade-off is an economic theory that entails "giving up one thing in exchange for something…

Q: QUESTION 5 How can a central bank support a fixed exchange rate? Note: Multiple answers are…

A: In the international market with fixed exchange rate system, central bank has the authority or…

Q: Classify each of the following cost items as mostly fixed or variable: a. Raw materials d.…

A: a. Raw materials :- variable  b. Administrative salary - fixed  c. Rent - fixed  d. Depreciation-…

Q: What are the problems or biases when using the Consumer Proce Index and unemployment data?

A: In the early 2000s, the Bureau of Labor Statistics developed alternative mathematical procedures to…

Q: 4 Last year Alice worked as a consultant. She hired an administrative assistant for $17,000 per year…

A: Answer - Christine worked as a consultant. She hired an administrative assistant for $17,000 per…

Q: Without environmental sustainability, economic stability and social cohesion cannot be achieved.…

A: Environmentallists have involved the term 'maintainability' trying to explain the ideal harmony…

Q: 3. An interesting kind of one shot game is known as a “Prisoners' Dilemma.“ The payoffs in a…

A: The game theory in economics states that economic agents' way of interaction produces outcomes based…

Q: If the consumers' income increases from $200 to $300, the quantity demanded product X will  increase…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: A company located in the US is selling a product in Japan for a price of exactly 7,175.5 Yen. The…

A: Price is yen = 7,175.5 yen Cost is = 56.5 $

Q: Corn flour is a staple food in South America. With rising inflation, several governments are…

A: Price ceiling is the maximum price for a commodity below which it is not allowed to fall.

Q: Country X does not allow imports of clothing. In its equilibrium without trade, a sweater costs $20…

A: Consumer surplus is the area below the demand curve and above the market price till the quantity…

Q: There are 100 workers. In 2084, after decades of complaining about low wages, the programmers at…

A: *Answer:

Q: Your friend borrows P10,000 on May 1 and must repay a total of P10,700 exactly 1 year later.…

A:

Q: Under “normal” economic circumstances, the main instrument of monetary policy at central banks…

A: Monetary policy is the policy of the central bank of a country which monitors the money supply in…

Q: In this section, the context is a large negative shock to autonomous consumption in an open economy.…

A: The aggregate supply refers to the entire amount of services and commodities that enterprises in an…

Q: What is the poverty trap? Group of answer choices A)The situation where government assistance can…

A: The correct option is D. The poverty trap occurs when a person is poor, and structural…

Q: 1. What are the 5 characteristics of perfect competition? 2. Define the followings? A. Monopoly B.…

A: "Since you have asked multiple questions ,we will solve first question for you.If you want specific…

Q: Use the DD-AA model to discuss whether or not a devaluation under a fixed exchange rate has the same…

A: Robert Mundell and Fleming wrote the theorem when there was a fixed exchange rate system. The model…

Q: If a labour market is in equilibrium and contracts are incomplete: Employers are willing to hire any…

A: In the labor market,bit can be said that some of the contracts are incomplete because not all the…

Q: Explain how the different allocation methods may affect quantity demanded, equilibrium price, and…

A: *Answer:  two most common allocation methods is the price system in a capitalist economy and by…

Q: Suppose that a decrease in the price of good X results in fewer units of good Y being demanded.…

A: Demand means the willingness and ability of a consumer to consume a good.

Q: An annuity offers a payment of $5000 at the beginning of every three months for twenty years.…

A: Interest rate = 8% Interest rate per quarter is calculated as follows: 1 + i444 = 1 + i121212 1 +…

Q: 3. Answer all parts of this question. a) In a production function relating labour input to output,…

A: The functional connection between the amount of a thing produced (output) and the elements of…

Q: Monetarists are economists who believe that the Federal Reserve is likely to make lots of mistakes…

A: Answer 1. A monetarist is an economist who believes that the money supply—which includes physical…

Q: What makes climate change an economic problem? And if it is, how should policy deal with it? Your…

A: Human activities influence the climate system and anthropogenic discharge of green-house gas is the…

Q: Question 5 When the price of a good increases,  Group of answer choices the demand curve for that…

A: When the price of a good increases, there is a movement along the demand curve for that good as the…

Q: Two fish farmers are deciding how many fish to raise in a public access lake. The problem is that…

A: Benefit refers to the utility that a consumer derives from the consumption of an alternative. It is…

Q: Suppose the population is 300 million people, the labor force is 200 million people, the number of…

A: Here, given information is, Population: 300 million Labor force: 200 million Employed: 185 million…

Q: 8. Economic fluctuations I The following graph shows the economy in long-run equilibrium at the…

A: Aggregate demand is a sum of consumption spending, investment spending, government purchases and net…

Q: Q4. Suppose the firm sells its output according to the following demand schedule: Labor Total…

A: Answer; Below I attached your answer

Q: we at a rate of 0.95%. Second, it could borrow money from other banks at a rate of 0.55%. l funds…

A: Federal fund rate is the rate at which a bank borrows from other bank on overnight basis whereas…

Q: Q)Explain how the assumptions of the aggregate supply model are different in the long run vs the…

A: The sum of all commodities and services generated by an economy during a specific time period is…

Q: QUESTION 9 A trade deficit must be equivalent to domestic investment minus domestic savings. True O…

A: The balance of trade of a country is known as the difference between the value of the country's…

Q: Question 15 To calculate producer surplus, one finds the area under the demand curve and above the…

A: Producer Surplus is referred to as difference between the willingness to accept the quantity of the…

Q: Problem 4. Answer the following questions a) Describe the Lucas critique. b) What is Ricardian…

A: Government budget refers to the document created by either the government authorities or the…

Q: Which of the following sectors of the economy has grown the fastest in the United States since the…

A: US economy is considered as one of the most advanced and developed economies in the world. As per…

Q: What are trade barriers in particular tariffs, quotas and non-tariff barriers. Explain what trade…

A: Trade barriers are the agreements or policies between two or more nations to limit imports and…

Q: (Use Table 1) Harold has a comparative advantage in and Wilhelmina has a comparative advantage in…

A: Comparative advantage refers to the ability of an individual or country to produce the good at a…

Q: The Reinheitsgebot is a set of laws established in the 1500s that regulate the production and sale…

A: In a free market, in absence of any intervention by the government, the equilibrium would be where…

Q: Suppose that consumption is 70 million and disposable income is 350 and that the economy is…

A: A recessionary GDP gap refers to when natural GDP is higher than actual GDP. This implies actual GDP…

Q: Formula for price of capital in isocost line

A: An isoquant reveals what a company wishes to produce. However, the desire to generate a commodity is…

Q: 13. Consider the information concerning the costs and QALYS for various treatments for heart disease…

A: The performance life year (QALY) is a global burden of disease study metric that considers both the…

Q: Identify and explain the three theories of the term structure of interest rates, including any…

A: Introduction The link between short-term and long-term market interest rates is referred to as…

Q: Question 4 Suppose a gardener produces both tomatoes and squash in his garden.  If he must give up 8…

A: Opportunity cost is the renounced benefit that would have been gotten from a choice not picked. To…

Q: The CPI measures the price of all consumer goods. Is this true or false?

A: The consumer price index is a widely used indicator of economic inflation and deflation. Inflation…