Skeletons 10 Skeletons 10 Pumpkins Pumpkins Chart 2 Chart 1 The Dark Points in Each Chart Represent Current Economic State. Skeletons Pumpkins Chart 3 Skeletons 10 Pumpkins Chart 4 3 POINTS: Use the above information to answer the following questions, Which Chart shows a poimt a point that is not possible with current economic contraints to produce Pumpkins and Skeletons OA. Chart 1 OB. Chart 2 OC. Chart 4 OD. Chart 3

Exercise D25 What role does government play in stabilizing the economy and what are the tradeoffs that must be considered?

ASAP!! ANSWER PLEASE Suppose there are only two commodities that can produced in an economy, computers and cycles. If the producer decides to produce one more cycle then why does it cost more to produce the second cycle than to produce the first one, assuming that the cycles are identical? Elaborate your answer using the concept of Production Possibility curve

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?

Using sound economic theory, develop a macroeconomic econometric model that would test the relationshipbetween globalisation and economic development in South Africa. You are to state the a priori expectations ofwhat the model would tell us, and you are to write the model using ‘Word Equation’. Finally, each variable that isincluded must be justified regarding its relevance for being there.

Question 1Define the difference between following terms :i) Microeconomics versus Macroeconomicsii) Normative statements versus positive statementsiii) Change in Supply versus change in quantity suppliediv) Law of Demand versus law of supplyv) Determinants of Demand versus determinants of Supplyvi) Opportunity cost versus Marginal costvii) Price Elasticity of Demand versus Cross-Price Elasticity of Demand.viii) Perfect competition versus competitive marketsix) Invisible hand theory versus price controlsx) ‘Free lunch’ versus ‘there’s no such thing as free lunch’xi) ‘How people make decisions’ versus ‘How people interact’ Note: kindly answer the all above terms with example if you want upvote for your answer thanks

How do we use these FOCs to show that (wtNt)/Yt =(1-α) if Yt = At Ktα Nt1-α

The world in which we live is complex and to understand it, human beings make use of some orother simplification process. A theory can accordingly be seen as an attempt to simplify things.Such an observation may come as a surprise to those who have often heard remarks to the effectthat such and such a theory is difficult, or at the least terribly complicated. We should neverthelessremind ourselves that a theory involves an attempt to simplify things – it is the world out there thatis the complicated entity. A particular theory (or model) is merely trying to reduce it to manageableproportions, at least as far as understanding our environment is concerned.”In economics, theory is presented in a simple form by making the…1.23a) Post hoc assumptionb) Fallacy of compositionc) Ceteris paribus assumptiond) Blinkered approach

You just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?

Define the term scarcity in context of economics.   Pls explain in detail.