QUESTION 22 Figure 2-4 Food products W Plastic products Figure 2-4 shows various points on three different production possibilities frontiers for a nation. Refer to Figure 2-4. Consider the following events: an increase in the unemployment rate general technological advancement an increase in consumer wealth a Which of the events listed above could cause a movement from Z to V? O a only O a and b only O band c'only O a b. and c
Q: A company that makes shopping carts for supermarkets and other stores recently purchased some new…
A: Given values: Before buying the new equipment: Number of workers = 6 Production = 90 carts per hour…
Q: “The impacts of a (a) budget deficit and (b) capital flight on the equilibrium in the open economy…
A: A budget deficit is a financial scenario in which a country's government borrows more than it earns…
Q: Does economic growth mean economic development? Discuss
A: In economics, economic growth is defined as the increase in the goods and services produced in an…
Q: the shift of money curve depends on all of the following except A. income B.the price level C.…
A: Money curve refers to the money demand curve and money supply curve, at the marketplace, which are…
Q: uctions: If you are entering a negative number, be sure to include a negative (-) sign. nd…
A: We have, Export of goods = $21 billions Import of goods = $25 billions Export of services = $15…
Q: 3. Two software companies sell competing products. These products are substitutes so that the number…
A: Demand function for company 1 : X1 = 1000 (90 - p1/2 + p2/4 ) Demand function for company 2 : X2 =…
Q: With multilateral negotiations, a country reduces its trade barriers without other countries also…
A: Multilateral trade negotiations make developing countries competitive and thus strengthen the global…
Q: 2.79 Find the present worth of cash flows of $1000 that start now (time 0) and continue through year…
A:
Q: Perfectly compotitive businesses are likely to try to create new products or figure out cost-saving…
A: A perfectly competitive firm faces a high degree of competition due to the presence of many sellers…
Q: In the basic Krugman speculative attack model (i.e. the version with no uncertainty), when a…
A: This attack always happens before the monetary association has run out of stores within the…
Q: suppose that the snow shovel industry is a perfectly competitive, increasing cost industry and the…
A: The price of a good or service in a commercial center decides the quantity that purchasers request.…
Q: Should the Federal Reserve take the decision to “create its own digital currency,” which of the…
A: The measure that depicts all currency and the other instruments that are liquid in the economy of a…
Q: Identify and list at least four specific characteristics of musical Africanisms
A: Africanisms are aspects of African culture that may be traced via the cultural practices and…
Q: Was there a mistake when the tutor wrote P = 79 - 2Q? It is supposed to be P = 79 - 0.5Q
A: The original demand equation was: Q(P) = 39.5 – 0.5P i.e. Q = 39.5 - 0.5P if we multiple both side…
Q: International trade Multiple Choice benefits consumers but harms producers. can only take place if a…
A: Comparative advantage is the situation when one country can produce the good at a lower opportunity…
Q: Suppose you have log(wage) = Bo + B1 * educ + B2 * exper + B3 * white + B4 * experXwhite + u The…
A: The experience of white workers is represented by the variable "experXwhite" which eventually shows…
Q: A manufacturing company plans to expand their production and logistics facility into one of the…
A: The most optimistic approach is taken by the Maximax criteria. In this situation, the most hopeful…
Q: A monopolist that practices the first degree price discrimination (Select all that applies) O…
A: Meaning of Monopoly: The term monopoly refers to the situation under which there is only an…
Q: In the graph below, the firm experiences IRTS CRTS and DRTS $/Qt SRATC(K,) SRATC(K,) SRATC(K,)…
A: Long run average cost is the locus of minimum points of short run average cost curves. It is a U…
Q: Again, please use the following data for an economy that has only two banks, Bank A and Bank B.…
A: M1 is the money suply which are liquid in nature. It is measured as:M1=Currency in…
Q: А. What is the competitive equilibrium price and quantity of straws? B.: It turns out that straws…
A: Competitive equilibrium is a condition in which profit-maximizing producers and utility-maximizing…
Q: In the below figure, a consumer is initially in equilibrium at point C. The consumer’s income is…
A: The farther the indifference curve is from the origin, the higher the utility/satisfaction it yeilds…
Q: If a person moves $1,000 from a small-denomination time deposit to a demand deposit account, Select…
A: M1 is the most liquid money supply. It includes, cash, demand deposits and other deposits. M2 is…
Q: 21. Consider the market for jigsaw puzzles, which provide a delightful way to spend time indoors if…
A: This situation is about the market for jigsaw puzzles, which provide a delightful way to spend time…
Q: TC=$12 TVC=Q^2 Total Profit=$20 Perfect Competition Market position Find Total Fixed Cost
A: Here, it is given that the firm is operating in tr perfectly competitive market with the total cost…
Q: The multiplier process can occur when a decrease in investment spending… a) Increases household…
A: "The investment spending multiplier indicates how much aggregate income will change with any change…
Q: George Bernard Shaw stated, "Economy is the art of making the most of life." Which of the following…
A: Here, it is given that, according to George Bernard Shaw, economy is considered as an art to make…
Q: a 95% confidence interval for B1, the regression slope coefficient. confidence interval for B1, the…
A:
Q: 1. The table below reports the unemployment rate, labor force participation rate, and (working-age)…
A: The labor force participation rate is an estimate of an economy's active workforce. The formula is…
Q: Identify three factors that are likely to affect the price elasticity of supply for rice. Clearly…
A: The supply price elasticity of a good or service is calculated in reaction to a change in its market…
Q: Consider the following sequential game. We want to find subgame perfect Nash equilibrium (SPNE) by…
A:
Q: Goods x and y are perfect substitutes. When the market price of good x is $5/unit, firm F produces…
A: Given; Market price of good x= $5 per unitQuantity produced by firm F of good x= 500Increase in…
Q: For each of the following pairs of goods: which would you expect to have more elastic demand? 7.…
A: As per the guidelines answer is given to the first three sub-parts: "Elasticity of demand measures…
Q: Name at least 2 trade barriers in existence today, and discuss their effect on trade.
A: Exchange boundaries or trade barriers are limitations forced by the public authority of a nation on…
Q: Question 4: Discuss the concept of aggregate demand and aggregate supply. Explain the why aggregate…
A: Demand and supply are two very important concepts used in economics to study the behavior of prices…
Q: SA inflation eases slightly in January Inflation eased to 5.7% in January, down from 5.9% the month…
A: In the given situation, it is said that inflation eased to 5.7% down from 5.9% the month prior. This…
Q: The following table represents the potential monthly output (Q), number of workers (L), marginal…
A:
Q: 3. Consider the following degenerate game. Please find all the pure and mixed strategy Nash…
A:
Q: 12.) Consumer surplus is equal to minus a.) Price, willingness to pay b.) Price, cost to produce c.)…
A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…
Q: hat is meant by the the term rational consumer. Ple
A: Economics refers to the study or principles of the way money, business, and industry are organized.
Q: Firm A: TC = 10 + 60Q - 10Q^2 + 0.6Q^3 Firm B: TC = 2 + 50Q - 7Q^2 + Q^3 the graph below presents…
A: TCA = 10 + 60Q - 10Q2 + 0.6Q3 TCB = 2 + 50Q - 7Q2 + Q3
Q: Economics 33. Is the following statement true or false? Explain
A: Economic profit is the difference between economic revenue and economic costs. Economic costs are…
Q: discuss the situation during pandemic in Canada, and discuss how monetary policy was used to correct…
A: LM curve shows the direct relationship between the interest rate and output. The LM curve is upward…
Q: Suppose the MPC = 0.6. If income increases by $100 billion, by how much would consumption change?…
A: MPC = 0.6 If income increases by $100 billion
Q: COVID-19 has undoubtedly been a defining time in our generation's history, with effects on global…
A: Economies of different nations have experienced worse during pandemic and the main factor for the…
Q: Assume a Hawk -Dove game with the following payoff matrix, where the first entry is Animal A’s…
A: Nash equilibrium is defined as the stable equilibrium that can be achieved because of the…
Q: 4. Suppose that an amusement park is a local monopoly. It has daily fixed costs of $30,000 and…
A: Utility function :U (x , m ) = 10x - x2/4 + m Income of visitors = 200 Price of ride (x) = p Price…
Q: Now let income change by 100. What will be the value of the constant term in the new Qd equation and…
A: The equilibrium price is the only price where the plans of consumers and the plans of producers…
Q: Suppose 2 players play the following game infinite times in the future. What should be the minimum…
A: In game theory, the Nash equilibrium is the equilibrium outcome from which none of the players have…
Q: Suppose Italy has the comparative advantage in producing wine and Germany has the comparative…
A: When two closed economies decide to open up and make international trade, their is an opportunity to…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Did the COVID-19 pandemic create new globalization opportunities for growth in yourCaribbean territory? YES/NOBased on your answer, write an answer that identifies those accepts that contribute to thegrowth, expansion and advancement of your local economy. On the contrary, if you do notbelieve that new opportunities were created, write an answer that identifies those acceptsthat negatively contributed to the negative growth, contraction and deceleration of our localeconomyPlease explainDid the COVID-19 pandemic create new globalization opportunities for growth in yourCaribbean territory? YES/NOBased on your answer, write an answer that identifies those accepts that contribute to thegrowth, expansion and advancement of your local economy. On the contrary, if you do notbelieve that new opportunities were created, write an answer that identifies those acceptsthat negatively contributed to the negative growth, contraction and deceleration of our localeconomySome resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Naturalresources have played a fundamental role in the growth of several industrializedeconomies, including Germany and the United Kingdom, where coal and iron ore depositswere a precondition for the Industrial Revolution. The United States was the world’sleading mineral economy from the mid-nineteenth to the mid-twentieth century and in thesame period became the world’s leader in manufacturing (van der Ploeg 2011). Morerecently, countries such as Botswana, Chile, and Norway have used abundant oil andmineral resources as the foundation for economic growth. However, in many othercountries, resource extraction appears to have undermined governance, fed corruptionand capital flight, and increased inequality.Required:(a) Discuss the main challenges posed by resource revenues; and(b) Discuss the special fiscal institutions and mechanisms…
- By taking into consideration the history of the Caribbean, the economic theories underpinningCaribbean development as well as the features of the typical Caribbean economy, construct ahypothetical (ideal) economic model that you consider suitable for the economic development ofthe Caribbean. Ensure that you carefully explain/justify the reasoning behind the development ofyour model.You will now need to analyse your new model. Be sure to clearly show how your “new”model improves on the other models that exist ( charts or graphs of necessary)In che mid-1980s several of South Africa's maintrading partners imposed trade sanctions on SouthAfrica in an effort to bring an end to the then-prevailing policy of apartheid.South Africa mainly relied on the exports ofprimary commodities like gold, iron and other preciousmetals, while importing mainly capital goods.This almost instantly led to South Africa expe-riencing a shortage of capital goods, resulting insubdued economic growth. 31. In what did South Africa have a comparativeadvantage? 32.a.Draw a graph to illustrate production,consumption and trade in South Africabefore the imposition of trade sanctions.b.Was South Africa consuming inside, on oroutside its PPP? Explian your answer.c.Draw a graph to show the effects of tradesanctions on consumption and productionin South Africa.d. Did trade sanctrions change any opportunitycoSts in South Africa? If so, did theopportunity cost of everything increase?Did the opportunity cost of any itemsdecrease? Illustrate your answer…Using a production possibilities frontier (PPF) diagram, determine how does the PPF changein response to the following events:Make sure to explicitly indicate what sectors you are representing, and what sort ofassumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latterfollows from your assumptions on the factor intensity of the sector you are representing.a) Increasing skilled migration into the countryb) Imposing taxes on manufacturing (hint: define a two-sector producing economy,manufacturing and services).c) Decreasing the expenditure on research and developmentd) Implementation of easier rules for foreign investmente) The effects of a pandemic
- Using a production possibilities frontier (PPF) diagram, determine how does the PPF changein response to the following events:Make sure to explicitly indicate what sectors you are representing, and what sort ofassumptions each event implies (i.e., a neutral effect vs a sector-biased effect). The latterfollows from your assumptions on the factor intensity of the sector you are representing.a) Increasing skilled migration into the countryb) Imposing taxes on manufacturing (hint: define a two-sector producing economy,manufacturing and services).c) Decreasing the expenditure on research and developmentd) Implementation of easier rules for foreign investmente) The effects of a pandemic the Sub-parts to be solved. d and eSuppose that United States produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week. Suppose that China produces 14329 barrels 14329 barrels of oil and 14329 bushels 14329 bushels of wheat each week. In autarky, what is the largest amount of wheat United States can consume every week? amount of wheat per week:___________ bushels What does the term autarky refer to? a. a major argument against globalization b. a situation where one country does not engage in trade with other c. countries d. the process of negotiating terms of trade between two countries e. government policies meant to reduce international tradeBy taking into consideration the history of the Caribbean, the economic theories underpinningCaribbean development as well as the features of the typical Caribbean economy, construct ahypothetical (ideal) economic model that you consider suitable for the economic development ofthe Caribbean. Ensure that you carefully explain/justify the reasoning behind the development ofyour model.
- Consider a simple economy of Korea - producing two goods, Motor bike and milk. The details ofthe economy and its production is as follows: Motor Bike (1000 / year) Milk (1000 gallons per year) 0 601 502 303 0 d) According to the (BGH) technology, farmers can now get double the amount of milk fromcows easily. In terms of PPF, this means Korean economy can now produce twice milk ateach level of bike output. With the current production of 2000 motor bikes, Mr. B claimsthat this new technology can allow this economy to produce more milk and more bikes. Doyou agree with this statement or not?e) Explain carefully, with the help of diagram and justify your answer.Suppose that in a year an American worker canproduce 100 shirts or 20 computers and a Chineseworker can produce 100 shirts or 10 computers.a. For each country, graph the productionpossibilities frontier. Suppose that without tradethe workers in each country spend half their timeproducing each good. Identify this point in yourgraphs.b. If these countries were open to trade, whichcountry would export shirts? Give a specificnumerical example and show it on your graphs.Which country would benefit from trade?Explain.c. Explain at what price of computers (in terms ofshirts) the two countries might trade.d. Suppose that China catches up with Americanproductivity so that a Chinese worker canproduce 100 shirts or 20 computers in a year. Whatpattern of trade would you predict now? Howdoes this advance in Chinese productivity affectthe economic well-being of the two countries’citizens?5) Suppose, Nepal was in general equilibrium before COVID-19. Explain the effect of increase in labor supply due to returnee’s migrants. Assume that everything else has not changed at all. Use IS-LM-FE model to answer.