Quèstion 15 which of the following would be strictly a macroeconomic topic? O the increase in the price of tomatoes O a drop in gasoline prices O how individuals maximize their utilities the increase in the total production in Jordan
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- Which of the following is a macroeconomic issue? The price of butterThe number of new cars producedThe growth rate of total outputThe price of products sold in the steel industryThe price of cell phone service Question 8.8.When economists make the assumption that wants are unlimited, they mean that most people want more of everything.are satisfied with what they have.want more of some goods, even if they don’t want more of everything.don’t care what they have.are greedy. Question 9.9.What will cause a change along the supply curve? The supplier’s expectationsThe supplier’s costsThe price of the goodThe price of all other good? Question 10.10.Ceteris paribus, as applied in demand theory, means accounting for all possible simultaneous changes.holding constant all factors that affect demand except one.observing the real world.holding technology and resource prices constant.holding one input constant while changing the other input.Define economics, macroeconomics, and microeconomics. Discuss whether the other-things-constant assumption applies to macroeconomics and microeconomics.need help with macroeconomic question 23. A Malthusian and a modern economist walk into a bar and converse as follows: MALTHUSIAN: I bet you $1,000 that I can make the average patron in this bar wealthier with a simple trick.MODERN ECONOMIST: I agree to your bet, and bet you $2,000 that I can do a better job.Thus, the Malthusian proceeds to murder half of the patrons, cleanly disposing of their bodies. The modern economist, on the other hand, replaces the bartender with a robot. How can we explain this ridiculous situation?(A) The Malthusian believes that killing people raises per-capita wealth, while the economist believes that technological improvements raise per-capita wealth.(B) The Malthusian believes that the agricultural commodities used in beer are scarce, and should be preserved; the modern economist believes that technological im- provements raise per-capita wealth.(C) There is no underlying logic to their actions.(D) The Malthusian and modern economists are both soyjacks…
- Which question is an example of a macroeconomic question? A. What is the level of industrial concentration in the U.S. automobile industry?B. What economic incentives can be used to reduce the cost of health care in the nation?C. What policies would be recommended for stimulating national economic growth?D. What market conditions are expected for milk in the nation this year?classify the following as macroeconomics or micro economics and provide a justification for your choice from the list below: a) Macro, examining one sector in economy b) Macro, examining one firm in economy, c) Macro, examining entire economy, d) Micro, examining one specific firm, e)Micro, examing one individual f)Micro, examining one sector of economy 1. a firms decision abouthow many workers to hire 2.Susans decisision about how much income to save 3.The statistical institution in your country projects a 22.5% increase in the number of workers in the healthcare industry from 2008 to 2018 4. Parliament is debating the option of implementing a value added tax (vat) as a means to cut the government deficitA production possibilities curve is drawn basedon which of the following assumptions?a. Resources are fixed and fully employed, andtechnology advances at the rate of growth ofthe economy overall.b. Resources such as nonrenewable resourceswill decline, but labor remains fullyemployed and technology is unchanged.c. Resources can vary; most resourcesexperience times of unemployment; andtechnology advances, particularly duringwartime.d. Resources such as labor and capital will growand are fully employed, and technology isunchanged.e. None of the answers correct.
- ii. 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.Please help me with this macroeconomic question 4!Which of the following are microeconomicissues? Which are macroeconomic issues?a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold?b. What will cause the nation’s inflation rate tofall?c. How does a quota on textile imports affectthe textile industry?d. Does a large federal budget deficit reduce therate of unemployment in the economy?
- Can you confirm that I am correct with these positive and normative statements: Positive statement: When oil production slows in Texas, employment and tax revenues decline, and budget cuts at the state and local levels often follow. (Craymer has estimated that the state loses $85 million per year for every $1 decrease in oil prices.) Normative statement:If Russia agrees to production cuts and COVID-19 goes dormant in the hot summer months, as some experts expect, Texas’ coffers will have time to recover before lawmakers convene in 2021 to write a new budget. Or would this be a normative statement:Experts said Texas is better positioned to handle an oil price collapse today thanks to a diversified economy. The last collapse in oil prices, in 2014, also forced the industry to cut costs and otherwise become more efficient. But University of Texas at Austin energy resources professor Michael Webber said COVID-19 throws an unprecedented economic variable into the mix.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 moneyWhat is the importance of studying macroeconomics in our daily lives? (80 words minimum)
