QUESTION 27 A factor is classified as a policy factor if it is decided upon by politicians. that policy is inherent to the economic system. it coincides with the system's environmental factors. the factor can be changed without changing the economic system.
Q: 31. Which of the following shifts the aggregate supply curve? an increase in the price of oil b. C.…
A: In an economy, aggregate supply curve is the curve that depicts the overall production of output…
Q: What happens to the equilibrium price when there is an increase in demand and a decrease in supply…
A: The demand curve depicts the inverse relationship between price and quantity demanded, keeping other…
Q: Consumption Investment 300 250 200 150 100 50 45⁰ 50 100 150 200 250 300, CAE Real GDP The graph…
A: Given information: We have given a simple economy without a government sector or a foreign sector In…
Q: Which of the following features is not possible in a game tree?
A: An information set is used to convert simultaneous extensive form games to strategic form games.…
Q: Predict the demand for December using 4-period moving average.
A: To compute 4 month average for December Use the four months before it. Average Aug, Sep, Oct and Nov…
Q: VALUATE THE REQUIRED VALUE BASED ON THE GIVEN STANDARD NOTATION BD20,500 (A/P, 9%, 7) 2.…
A: 1. BD20,500 (A/P, 9%, 7) 2. BD590 (F/A, 5%, 10)
Q: > The table shows the demand and supply The equilibrium price of a magazine is $ magazines a week.…
A: How much goods and services that are accessible for individuals to buy contrasted with how much…
Q: e financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per…
A: Fixed cost = $5,000 Variable cost =$5x Since it is given that the cost function is linear. C = Fixed…
Q: True or false? The GDP deflator measures prices of a group of products called the "market basket"…
A: The Consumer Price Index measures the overall change in consumer prices over time based on a…
Q: An reflects the amount of one currency required to purchase one unit of another currency. To put it…
A: exchange rate, the price of a country's money in relation to another country's money. An exchange…
Q: Which of the following is the best example of a monopoly? options: Georgia Power…
A: Monopolies are characterized by rigid entry barriers and the existence of just one supplier or…
Q: Tariffs (taxes on traded products between countries) generally have a greater negative impact on…
A: International trade is the transnational exchange of goods and services between nations. Trade is…
Q: Suppose, in the base year, a typical market basket purchased by an urban family costs $250. In Year…
A: Suppose, in the base year, a typical market basket purchased by an urban family costs $250. In Year…
Q: 6. Theory suggests that frictional unemployment in Canada will decrease if workers have higher…
A: Natural rate of unemployment = Structural unemployment + Frictional unemployment Natural rate is…
Q: for sale in Asilomar and six people who would each like to purch me that the parcels are essentially…
A: Suppose that there ----------------‐------ price of each is $570,000. Willingness to buy must be…
Q: 12. If the Real GDP for year 1 was $57,900 and for year 2 it was $ 60,000, determine the percentage…
A: Economic growth is determined as the rise in the capacity of the economy for producing the services…
Q: QUESTION 3 Suppose that the MD=5E and with its current technology, the firm's MS is given by MS₂ =…
A: Given information: MD = 5E MS = 200 - 5E
Q: The following graph shows the production possibilities curve (also known as the production…
A: The production possibility curve represents the most efficient bundles of goods a company can…
Q: Explain what supplier-induced demand is.
A: Demand is the quantity of an item or service that consumers buy at various prices during a specific…
Q: A consumer has the following utility function u(x)= root x where x is the consumer’s total wealth.…
A: A utility function is a representation used to describe personal preferences for products or…
Q: Don copy paste plea
A: Nations want to know how much their economy affects the rises and falls in prices of different…
Q: Companies like Amazon and Facebook and Google are so dominant that they really have very little…
A: Oligopoly and Monopoly An oligopoly is a form of market where there are a few larger numbers of…
Q: 1. In case of perfectly inelastic supply- a. The resource substitution for the good is nearly…
A: Perfect inelastic supply is the point at which the PES recipe approaches zero. That is, there is no…
Q: How does a person’s interpretation of macroeconomic history affect his view of macroeconomic policy?
A: It is challenging to study macroeconomic policy without studying macroeconomic history because the…
Q: 33. The expenditure approach to calculating GDP for an open economy entails adding consumption,…
A: The expenditure approach is a strategy for computing a country's total national output (GDP) by…
Q: The table below shows the total cost for producing various quantities of shampoos. Use the given…
A: Total cost is the sum of fixed cost and variable cost. Fixed cost remains the same at each level of…
Q: A2) Economics When there's a large and ongoing budget deficit, under which scenario is inflation…
A: Generally , a budget deficit is the difference between all receipts and expenses in both revenue and…
Q: How would I find the solution set, equilibrium price and equilibrium quantity for the problem?
A: * SOLUTION :-
Q: If the price of suntan lotion increases from $6 to $8 per bottle and quantity demanded decrease from…
A: An elastic interest is one in which the adjustment of amount requested because of an adjustment of…
Q: Economicssss... Define the trade balance for an open economy and explain the relationship…
A: The real exchange rate (RER) among currencies is the product of the nominal change rate (the dollar…
Q: Spaniards can produce 10 gallons of wine or 8 gallons of olive oil per worker hour. Americans can…
A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…
Q: Cartels usually breakdown because of what? Cartels can only be effectively run if they use Game…
A: A cartel is a gathering of free market members who connive with one another to work on their…
Q: With eg "Spaniards can produce 10 gallons of wine or 8 gallons of olive oil per worker hour." Wine…
A: In the field of economics, a good is any thing that may be consumed by people and result in some…
Q: An end-of-aisle price promotion changes the price elasticity of a good from −4 to −5. Suppose the…
A: Given, Normal price = $48 Initial elasticity = –4.
Q: The CPI for the year 2005 was 110 and the Nominal GDP for that year was $ 67,500 million. Determine…
A: Nominal GDP is classified as the overall measurement concerning of the economic output which is not…
Q: Individuals A, QA=7-.5P Q-10-P Qc=18-3P Make a price quantity chart for each consumer. Then add a…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: What happens to consumer expenditure for both inelastic and elastic goods when the price increases?…
A: A broad measure of an economic variable's responsiveness to changes in other economic variables is…
Q: 9a Briefly explain what the present value of a health care and prevention
A: The health care sector is distinguished by persistent reforms with the goal of the efficient…
Q: General Instructions Redstone Clayworks, Inc. is located in Sedona, Arizona and manufactures clay…
A: General Instructions Redstone Clayworks, Inc is in a perfect competition. There is virtually no…
Q: 2. Match the descriptions below to the appropriate concept: A. Economies of Scale B. Efficient Scale…
A:
Q: Suppose South Africa produces only two goods: corn and cars. The following graph shows South…
A: Production Possibility Frontier:- The graph can be explained as the Production Possibilities…
Q: Firm Alpha is a monopsonist in the labor market. The firm’s marginal value of labor is MVL = 105…
A: Firm is a monopsonist and uses its market power to maximize its own profit. Labor Demand = Marginal…
Q: A man wishes his son to receive $ 200000 after 10 years from now. What amount should he invest if it…
A: Given the information: Future value of investment = $200000 Time period = 10 years Interest rate =…
Q: An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost…
A: When talking about cost functions of a firm, it can be said that these coste function are…
Q: Deborah is a stay-at-home parent who lives in San Francisco and does some consulting work for extra…
A: Given information: Initial wage rate = $20 per hour Final wage rate = $35 per hour Working hours at…
Q: 6. The Role of Government: Tax and plastic bags A. In the diagram, identify the lines that express…
A: c) The impact of tax depends on the elasticities of demand and supply curves i.e. the responsiveness…
Q: 7. Data for Windsurfing Sail Firm Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost;…
A: We have given the data for fixed cost and variable cost for the output level from 0 to 7 Q FC VC…
Q: Consider a utility function u(x1, x₂) = 4x₁ + 3x₂. 1. What is the optimal bundle with Px₁, P₂, and…
A: Given information: u = 4x1 + 3x2 -----> Utility function. The utility function is linear, it…
Q: If the price of suntan lotion increases from $6 to $8 per bottle and quantity demanded decrease from…
A: Price Elasticity is a proportion of the connection between an adjustment/change of the quantity…
Q: True or False: If the dollar depreciates relative to the Japanese yen, the dollar price of a…
A: Depreciation determines the actual declines over the fair value of an asset over a certain or a…
Step by step
Solved in 2 steps
- Can you think of ways that globalization has helped you economically? Can you think of ways that it has not?1. Describe what T’Challa thinks Wakanda’s relationship with the outside world should be. DescQuestion 2Consider the case of Jonathan, who is a singlefather with one child. He can work as a serverfor $6 per hour up to 1,500 hours per year. Heis eligible for welfare and can receivegovernment support of $10,000 for notworking at all. If he works 1,500 hours, hisearnings would be______ and governmentsupport would be______.O a) 2.000; 8,000O b) 3,000; 7,000O c) 9,000; 1,000O d) 10,000; 0
- Edwina, a commodities broker, has acquired an option tobuy 1,000 oz of gold at $50/oz. If she takes the option and ifCongress relaxes import quotas, she can sell the gold for$80/oz. If she takes the option and Congress does not relaxthe import quotas, however, the company will lose $10/oz. Edwina believes that there is a 50% chance that the governmentwill relax the quota. She also has the option of waiting untilCongress decides whether to relax the import quota. If sheadopts this strategy, however, there is a 70% chance that someother broker will have already taken the option.a If Edwina is risk-neutral, what should she do? b If Edwina’s utility function for a change x in her as-set position is given by u(x) (10,000 x)1/2, what should she do?suppose you ar etrying to determine the aftereffects of hurricane Katrina on the economy of Louisiana. Which assumptions could be made to simplify the study? Note that not all statements may be placed. 1. consider the effects on all of Louisiana's interstate trade partnters 2. focus on just the crawfish-and catfish-farming industries in Louisiana 3. determin the effects while holding the infrastructure and factors of production constant 4. track the total net worth of the output produced by the state prior to the hurrican and after the hurricane 5. compare the change in prices for all goodsThis is the question exactly as asked: Depict a labor market with an equilibrium wage. Insert an efficiency wage into the market. 7b. Depict a goods market. Analyze the impact in the market assuming suppliers in the market implement effective efficiency wages for their workers.
- Q. 5. For auto makers, an important decision is to determine what features a new car model should be provided based on cost-benefit analysis. In what ways can economists help auto manu- facturers estimate the marginal rate of substitution between features such as vehicle interior size and acceleration? (a) Examining production cost data (b) Conducting consumer surveys about willingness to pay for auto features (c) Solving the standard consumer model (d) Statistically analyzing historical data on purchases of different types of autos (e) B and D only Q. 10. When firms determine whether to invest in research and development (R&D), they need to consider many factors. Which of the following is NOT one of the important factors that should be considered? (a) The market size of the product today. (b) The market potential for the product in the next few years. (c) The R&D investment of the competitors on similar products. (d) Potential new products that may be substitutes of the…21. When you make a choice, whatever you give up as a consequence is called a/an a) priduction cost b) rationing method c) opportunity cost d) explicit costIntermediate MicroeconomicsProblem Set 10.Submission options:• in person during lectures or TA sessions;• in Xiaoye Liao’s mail box at 19 West 4th, 6th Floor;• (less recommended) e-mail Xiaoye Liao atxl775@nyu.edu– in that case, be sure to use the subject line: “Submission Problem Set 10â€.Exercise 1Consider a game of rock-scissor-paper. There are two players, player 1 and player 2,and the winner receives $1 from the loser (if they draw, nothing happens). They playthis game simultaneously.1. What kind of game is this? Express this game in normal form.2. What are the set of possible actions and strategies?3. Find all Nash equilibria of this game.Exercise 2Consider a game represented by the following payoff matrix. Find all pure strategyNash equilibria. UMD LCR?10, 0 ?10, ?1 ?10, ?1?8, ?8 0, ?102, ?14, 57, ?101, 1 Exercise 3Consider a game represented by the following…
- Subject: Manegerial economic & policy (need different ans)1) Generally, a high GDP per Capita indicates a developed nation. a) Sometimesb) With exceptionsc) Trued) False 2) With the advent of globalization and the WTO operations, which of this ishappening or have happened? a) Free-Market Analysisb) Public-Choice Theoryc) Chenery Modeld) Neocolonial dependence modele) Market-Friendly Approach(A) explain how rapid urbanization can pose a problem in the country. Explain in 3 sentences only. (B) How can rising rural-urban migration can be controlled? Explain in 3 sentences only.