Select the type of unemployment occurring in each of the causes below (and explain your answer):   a) Workers in a high-end restaurant are laid off when the establishment experiences a decline in demand during a recession.   A. cyclical   B. frictional   C. structural   b) A new college graduate takes three months to find his first job.   A. cyclical   B. frictional

Q: If frictional unemployment is 6.2%, the is 4%, and the structural unemployment actual unemployment…

A: Given information: Actual unemployment rate = 12% Frictional unemployment rate = 6.2% Structural…

Q: Land 1 1 1 1 1 1 1 1 1 Labor 0 1 2 3 4 5 6 7 8 Total Output 0 3 8 12 15 17 17 63 16 13

A: Given: Inputs(Land and Labor) and Output The land is the fixed input and labor is the variable…

Q: Khan lives in a world with two consumption goods x and y. Her utility function is U (x, y) = √x² +…

A: Utility Function U(x , y) = x2+y2  Budget Line pxx + pyy = Income $3x + $4y = $50

Q: Match each scenario with the panel that best describes what will happen to the market when the…

A: 1) - Panel d : Since it will be more difficult and expensive for businesses to manufacture…

Q: Consider the market for tablets depicted below (think iPad or Microsoft Surface). If a price ceiling…

A: Price celling is the government tool to control the market situation. price celling is that price…

Q: What is the opportunity of increasing the production of cell phones from 20 to 50?

A:

Q: Give me three examples of a normal good, luxury good and inferior good and tell me why ?

A: Three examples of normal goods are- Clothing, household appliances and food Staples. Normal goods…

Q: Write short notes on approaches to International Business?

A: Approaches to international business and its advertising appear as an EPRG diagram (ethnocentrism,…

Q: What are the hazards and limitations of a computerized library management system?

A: Meaning :  Computerized library management system is actually a software that is designed to manage…

Q: Barrels 35 30 25 20 15 10 5 0 2 O wi B 4 6 8 10 12 14 16 Bathtubs Refer to Figure 2-8. What would…

A: Production Possibility Curve (PPC) shows the various combination of two goods that could be produced…

Q: Are wages more sticky upwards or downwards? Why? Explain.

A: Introduction  In economics, wage may be defined as the sum of money paid under contract by an…

Q: Refer to the diagram, in which S1 and D1 represent the original supply and demand curves and S2 and…

A: In a perfectly competitive market, the firm supply at P=MC implies the supply curve is equivalent to…

Q: 16. In the short run, the profit maximization for a firm in a perfectly competitive market would be:…

A: Profit maximization is the process by which businesses ensure that the best output and price levels…

Q: Many persons prepare for retirement by making monthly contributions to a savings program. Suppose…

A: Future worth (FV) is the worth of an ongoing resource sometime not too far off in view of an…

Q: hat is the relationship between the output gap and the cyclical unemployment? Usually, when one goes…

A: The output gap is the difference between actual output and potential output. Cyclical unemployment…

Q: In the summer of 2010, Congress passed a far-reaching financial reform bill to attempt to prevent…

A: In the loanable funds market, equilibrium occurs at such an interest rate at which the supply of…

Q: The Classical Dichotomy is the idea that Select one: a.nominal and real interest rates are…

A: The notion that the nominal economy is ultimately entirely distinct from the real economy is known…

Q: 3. "For any good or service, the revenue-maximizing price (not the profit-maximizing price) can be…

A: All monies received by a company are referred to as "revenue," while "profit" is the amount left…

Q: 3. Using the cost curves for the monopolist (right), answer the questions 3a - 3d below: a. Indicate…

A: Monopoly is what is happening where there is a solitary merchant on the lookout. In regular…

Q: With regards to PESTLE, focus on and answer the economical factor with regards to the brand Knorr…

A: Some of the key economic factors that could affect Knorr from South Africa would include inflation,…

Q: Capital Goods M P K Consumer Goods 4. Assuming the inner curve is our current production…

A: A production possibility curve represents the potential level of the combination of two goods that…

Q: Suppose that in a closed economy, GDP is $15 trillion, Consumption is $6 trillion, Government…

A: Disclaimer: “Since you have asked multiple questions, we will solve the first 3 subparts question…

Q: When output increases from 10 to 11, total cost increases from $60 to $65. Fill in the blank. Round…

A: The additional cost incurred in the creation of extra units of goods or services, most frequently…

Q: What is the demand curve? Why does it slope downward?

A: Demand is defined as the volume of a good or service that customers buy at different prices during a…

Q: Consider the market for coffee. For each of the following scenarios, what would happen to total…

A: Total revenue increments with an expansion in price level when demand is somewhat inelastic. This is…

Q: If New Zealand's inflation rate is 5% inflation vs 10% inflation in our trading partners and the $NZ…

A: The real exchange rate formula is given as:  Real exchange rate = nominal exchange rate * (domestic…

Q: Is the following statement true or false: “Customers prefer product A more than product B if the…

A: Customer value is best described as how much a product or service is valuable to a customer. It's a…

Q: Consider two firms with the following marginal abatement costs (MAC) as a function of emissions (E):…

A: If the act of production or consumption affects the cost function or utility function of the third…

Q: Suppose that people in France decide to permanently increase their savings rate. Predict what will…

A: We are given that the people of France have increased their saving rate permanently. Now we will see…

Q: 19 In the US, where most private health insurance coverage is provided by employers, changing…

A: a) The insurer is aware that if the employee is not feeling well, he will have to pay a significant…

Q: Table 1 Disposable Income $50,000 Consumption $40,000 Disposable Income $20,000 Table 2 Use the…

A: The Marginal propensity to consume measures the change in the consumption in response to the change…

Q: Federal alcohol excise taxes are designed so that the alcohol content of beer and wine is taxed at a…

A: Excise tax is defined as the tax that is imposed on specific goods or services like, fuel, tobacco…

Q: he amount of money Shelly has increased by $40.  After she received the extra money, Shelley buys…

A: Normal goods are those goods when income of the consumer increases then demand of that goods also…

Q: How are goods and services allocated in a market economy? by government decisions O by giving each…

A: When talking about market economy, it can be said that, it is the market where people are allowed to…

Q: Land 1 1 1 1 1 1 1 1 1 Labor 0 1 2 3 4 5 6 7 8 a. The average production of three workers is b. The…

A: Given, Total output is defined as the total sum of values added at every production level.  Note:…

Q: 1) Exemption of food purchases from a sales tax reduces regressivity. A: True B: False 2) Federal…

A: Disclaimer- “Since you have asked multiple questions, we will solve the first questions for you as…

Q: Fill in the blanks in the following tables: Instructions: If you are entering any negative numbers…

A: In finance and economics, the nominal interest rate or nominal rate of interest is either of two…

Q: Classify each of the following based on the macroeconomic definitions of saving and investment.…

A: Investment is the purchase of items to facilitate production of final goods and services.

Q: Suppose the economy begins at full employment and then consumer confidence rises. As a result, the…

A: Short Fall in the AD means economy facing unemployment which is above the natural rate of…

Q: Businesses may follow a strategy of product differentiation under monopolistic competition.

A: Product differentiation is a marketing strategy used to distinguish any product produced by a…

Q: 4. Maintenance costs for a small bridge with an expected 60-year life are estimated to be $1,000…

A: According to our guidelines we can solve only 1 question  Comparable uniform yearly expense (EUAC)…

Q: With the use of a diagram, explain when a monopoly corporation maximises its profit

A: Competition: When a market has many firms, there will typically be competition between them. The…

Q: Suppose Tom has $60 in income and only buys cheese and tuna. Walmart charges $2 for a can of tuna…

A: # Tom's budget:  -  $60 in income  -  $2 for a can of tuna and $4 for a block of cheese # Initially…

Q: 2. Suppose that society could produce the following combinations of pizzas and books: Alternative…

A: Opportunity cost refers to the next best alternative forgone.

Q: Suppose an economy produces steel, wheat, and oil. The steel industry produces $100,000 in revenue,…

A: The entire dollar worth of all products and services produced over a certain period of time in an…

Q: The Federal Reserve System is the central bank of the United States, and institution established by…

A: The Federal Reserve is the nation's central bank. It develops and implements monetary and credit…

Q: Write short notes on; succession of WTO from GATT.  Objectives of WTO Functions of WTO

A: The Asia Pacific Economic Cooperation (APEC) forum and the Association of South East Asian Nations…

Q: retail chain will buy 900 cordless phones if the price is ​$30 each and 800 if the price is ​$40. A…

A: It is provided that the supply and demand functions are linear. From the given information it is…

Q: In light of Adam Smith, Ricardo, and Say, please explain the classical political economy perspective…

A: The market mechanism is viewed from the perspective of classical political economy as a…

Q: Job-specific human capital In this problem, based on a simplified version of the model in…

A: There are two types of employees - Sickly & Robust  Probability of Sickly getting ill = ps…