Question 20 prices. Nominal gross domestic product (GDP) is GDP measured in O a) base O b) current Oo marginal O d) average O e) fixed

Q: Suppose that demand for automobiles increases by 20% when consumers’ incomes increase by 15%. What i...

A: Introduction: Elasticity of demand is that the responsiveness of a commodity's quantity demanded to ...

Q: The quantity demanded of frozen strawberries decreased from 1,800 to 1,550 when the price of fresh s...

A: Cross elasticity of demand refers to the percentage change in quantity demanded  of one good due to ...

Q: e figure below represents the market for Gasoline, where initially the equilibrium price was $5.60. ...

A: Answer is given below

Q: Consider a normal form game in which player 1 has three strategies, A1, B1, C1 and player 2 has thre...

A: When games are shown in its natural form in game theory, the strategies of each player and the relat...

Q: 7.When comparing per capita income in different countries, is the currencies exchange rate a good me...

A: When analyzing the per capita income of different countries, there are different ways to compare the...

Q: The graph shows the demand curve for smartphones and the supply curve of smartphones. Price (dollars...

A: Equilibrium price and quantity of smartphones will occur at a point where demand curve of smartphone...

Q: Refer to the diagram above. What will happen at the market if supply decreases?

A: In the graph, it is clear that the demand curve is inelastic. So the supply and total revenue will s...

Q: A Company is the only employer. Its only variable input is labor, having a marginal product equal to...

A: MARGINAL FACTOR COST CURVE: A curve that graphically represents the relation between marginal factor...

Q: SA Sq PA Pg Q TRg TRg TE fer to the diagram above. What will happen at the market if supply increase...

A: Referring to the LHS Diagram: When the supply increases from SA to SB, there is a rightward shift in...

Q: I got this question wrong and I was wondering if you could help explain how to get the answer correc...

A: Depreciation is not included as it is from human made capital which is not a part of green GDP.  Gre...

Q: 2020 4t X 300 6t X 600 Let P- the per-unit market price; Q, - the number of units produced and sold ...

A: Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflati...

Q: Instead of paying P100,000 in annual rent for office space at the beginning of each year for the nex...

A: Loan amount= P1000,000 Number of years= 10years Interest rate= 6% Amount invested= P100000 Interest ...

Q: The production function expressed in the table below represents the amount of hot dogs Hot Dog on a ...

A: Marginal product refers to change in total product or output by adding one more unit of input.

Q: 8. Assume that now trade happens. The relative supply of wine in the home country is less than the w...

A: It is given that the domestic supply of wine is less in home country than the world due to which whe...

Q: International trade causes the loss of jobs in industries where a country has Select the correct ans...

A: When there is free trade, parties involved gains from trade by trading with each other.

Q: If S1& D1 are the original supply and If S16 D1 are the original supply and demand curves, what happ...

A: NOTE1: Since we only answer up to 3 sub-parts, we’ll answer the first 3. If S1 &D1 are the orig...

Q: Comparative Advantage The theory of Comparative Advantage emphasizes gains that countries can achiev...

A: Since the globalisation has been set up, all the countries are focusing on the ways to step into the...

Q: Question 7 According to the production model, what happens if there is an increase in total factor p...

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

Q: 9- The manufacturer of a superconducting magnetic energy storage system can buy a new equipment for ...

A: Given: The future amount of the equipment is = $7,000,000 Years = 3 The inflation rate is = 10% The ...

Q: what are the advantages and disadvantages of Rice Tariffication Law to the rice farmers.

A: Trade is defined as the exchange of commodities and services across the boundary of the country.  In...

Q: Consider two Solow economies (A and B), exactly identical except that economy A has a higher share o...

A: This is a model of exogenous economic growth. It studies how changes in population growth, savings r...

Q: O Suppose and I pky the and I play the game reck-paper - sci ssor twice Xrsume mixed stratojos (ran ...

A: Assuming Rock - R, Paper - P, Scissors - S Total number of possible outcomes in one game = 3 ( R, P,...

Q: According to the product approach to Gross Domestic Product (GDP), GDP is the sum total of Four Comp...

A: When talking about product approach to easily gross domestic product, it explains the production and...

Q: which to build a structure, which they will nee years hence. The current cost are: land, P1,000,000;...

A: Given, At Present Cost of, Land = P1,000,000 Building P3,500,000  Appreciation Rate Land = 20% per a...

Q: what is the impact of Rice Tariffication Law to the agricultural modernization in the country

A: Rice tarrification law eliminated the monopoly of the National Food Authority which was dominated on...

Q: 4. Consider the following static zero sum game G. Colin A DE A -4 3 -1 B-1 2 4. 4 1 -1 -1 -3 D 3. -1...

A: Zero sum game is defined as the game in which the sum of payoffs of both the players is equal to zer...

Q: GDP does not take into account the underground economy, and offers measures of government production...

A: GDP refers to Gross Domestic Product. It is the sum of the value of all the goods and services produ...

Q: O A. Everyone has unsatisfied wants.

A: There are various definitions of Economics. The early economists called Economics 'the science of we...

Q: What distinguishes comparative advantage from absolute advantage in production?

A: Production refers to conversion of raw material into finished goods.  

Q: A P2,000,000 loan was originally made at 8% simple interest for 4 years. At the end of this period, ...

A: * SOLUTION :-    From the given information ,  The OPTION A is correct answer.  

Q: Why do some marginalised groups in the USA and canada reject the idea of globalisation? In answering...

A: Globalization: Globalization helps the countries to interact with each other and do trade, globaliza...

Q: which statement is correct If a good is not being produced by sellers with the lowest cost, then th...

A: Profit Maximization level: The level of production that maximizes the profit of the firm or the leve...

Q: RobbinGood sells financial trades to retail traders (r) and institutional traders (i) whose demand c...

A:

Q: The price of a product is initially $10 and 200 units are sold per day. The price elasticity of dema...

A: Given; Initial price= $10 Initial quantity= 200 units Price elasticity of demand= -0.8 Increase in s...

Q: Give an example of how the profits change from the short run to the long run for a firm in a perfect...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: ill give incorrect ans

A: A place where buyers and sellers meet is called Market. A market allows the buyer and seller to faci...

Q: If inflation is increasing and you expect it to continue to the future then you will want to O Spend...

A:   Inflation is the sustained increase in the general price level of goods and services in an economy...

Q: 1. Suppose David spends his income (I) on two goods, x and y, whose market prices are px and py, res...

A: In economics, "utility" refers to the sense of well-being that comes from using a product or service...

Q: Q1. a) Macroeconomic theory postulates that there is positive relationship between national income (...

A: Linear Models are defined as a response variable which acts as a function of the predictor variables...

Q: Thomas , a currency trader in East African Community, has ksh 400,000. He wishes to assess if triang...

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Q: Suppose that an economy is currently in its long run equilibrium. Suppose that the government decide...

A: ANSWER     The AD-AS model, also known as the aggregate demand-aggregate supply model, is a macroeco...

Q: Explain why Japan exports automobiles, while the U.S. exports aircraft? Use the prior definitions of...

A: Absolute advantage refers to the ability to produce more goods using same resources or same quantity...

Q: Calculating GDP with the exenditure approach and income approach... O..gives the same result ..can g...

A: GDP measures the market value of final goods and services produced by an economy during a given peri...

Q: What are the pressures that encourage MNEs to establish in newly industrialising countries? b. What ...

A: MNEs: A worldwide undertaking, condensed as MNE and now and then likewise called global partnership ...

Q: wth model differs from the Harrod-Domar because: a. Assumes that deprec

A: In Solow model , the poor countries grow faster than rich countries which lead to convergence of per...

Q: he Additional Insured—Vendors (HO 07 51) endorsement to a homeowners policy extends the definition o...

A: An additional insured means in a liability policy broadens the inclusion past the named safeguarded ...

Q: A firm lowers the price it charges. The firm's total revenue decreases. What can we conclude about t...

A: please find the answer below.

Q: a. What does the expression “marginal product of labour” mean? b. Why do workers (skilled and unskil...

A: Labor is the one of the most important factors of production. The labor with help of other resources...

Q: Question 10 is a real-life example of a price floor. a) Any market equilibrium price b) A black mark...

A: Price control refers the minimum or maximum prices set legally by the government for specific goods ...

Q: 30. A man loaned P15,000 pesos from a bank which offers a discount rate of 8% payable at once. How m...

A:   A loan is a sort of credit in which a sum of money is provided to another person in return for the...