State whether True or False and "explain" (answers without explanation get no credit): Demand for a good is said to be inelastic if the quantity demanded increases substantially when the price falls by a small amount.

Q: Italy has a GDP per capita of 33,000 Euros. The exchange rate is 0.0436 Euros per 1 Mexican Peso. Ca...

A: Given  Italy's GDP per capita =33,000 Euros. Exchange rate is 0.0436 Euros per 1 Mexican Peso.  

Q: When a tax is placed on the sellers of cell phones, the size of the cell phone market a. and the eff...

A: Given:- Tax placed on cell phone seller To determine:- Size of cell phone market=?

Q: Movement along the aggregate demand curve Shift of the aggregate demand curve Answer Bank a rise in ...

A: Aggregate demand refers to the macro-economic term that is used to describe the total demand for dom...

Q: Assume two countries: H and F. If the world terms of trade for a country are somewhere between the d...

A: Trade means the export and import of goods and services into an economy. The export means the benefi...

Q: 5. Assume that $1,000 is deposited in the bank, and that each bank loans out all of its excess reser...

A: Dear student, you have asked multiple questions in a single post. In such a case, I will be answerin...

Q: Explain the Effects of Economic Globalization through: Inequality

A: To find : Effecf of inequality and tax havens on economic globalization. 

Q: 3. Does minimum wage legislation have other effects? Explain with the help of a diagram. a. Explain:...

A: The lowest remuneration that could be paid by employers legally to the employees for doing work is k...

Q: 2) A company purchased a machine for $20,000 and paid transportation cost of $5,000. At the end of 7...

A: Salvage value is the book value of an asset after all depreciation has been fully expensed. The salv...

Q: 1. Suppose that, instead, a price ceiling of Pc = 10 is imposed by the government Find the equilibri...

A:

Q: What is a real life example of what is happening at the 'cross' of the 'X', or where the labor deman...

A: A labour supply curve depicts the number of workers willing and able to work in a certain occupation...

Q: Because of international competition, a company that manufactures high-speed submersible rotary inde...

A: Given; Company can invest= $80000 After one year:- FV=-80000(F/P,i,n)+20000+20000(F/A,i,n)    =-8000...

Q: Use the model of supply and demand for bonds to illustrate and explain the impact of each of the fol...

A: The equilibrium quantity and prices of bonds are dependent on the demand and supply of bonds. Also, ...

Q: 66. Which of the following input factor takes risk, innovates and coordinates А. О Сapital B. O Labo...

A: In an economy, there are four factors of production, namely Land  Labour Capital Entrepreneur

Q: How does discretionary income affect your choices for wants and needs?

A: Income refers to the reward which a factor of production gets for his services. Income may be in the...

Q: 11. Given the following information, what is Aggregate Income? Employee Compensation Gross Investmen...

A: Aggregate income refers to the total income earned by citizens and businesses of the economy in a gi...

Q: Use the following table to answer this question. The table contains the amount of wheat and shoes th...

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

Q: What is your major take away from Thomas Dye’s definition of public policy)?

A: To find : Highlights from thomas dye definition of public policy. 

Q: Why should decision makers set MB equal to MC?

A: The marginal benefit of an action is the extra benefit related to a one unit increase within the amo...

Q: Economic development of a country requires

A: To find : Factor for economic development of a country. 

Q: B. As a result of a change in income from 1,975 to 3,875 per month, the consumption of good X change...

A: A good is a normal good when increase in income increases its demand and inferior if increase in inc...

Q: 2. Consider a trader with initial fund given by To holding q shares of stock i is C(q) = 10 + q². Th...

A: Introduction initial fund has given 15 and the transaction cost of the traders has given as C(q) = 1...

Q: are inequality rates a major variable of HDI?

A: Introduction of money was important. Since the ages and as of now money is used in the form of curre...

Q: Describe the difference between how Economic Expansion and Economic Growth can be displayed on the P...

A: The Production Possibility curve can be used to explain two important economic concepts - Economic ...

Q: A perfectly competitive firm has the following total cost function TC=10+20². The price is given at ...

A: TC = 10+2Q2 Differentiate TC w.r.t Q to get MC => MC = dTC / dQ => MC = 4Q -------------------...

Q: If inflationary expectations increase, the Phillips curve will A) become upward sloping B) shift to...

A: Macroeconomics is important and relevant for a country. Aggregate demand and aggregate supply are th...

Q: In the market for lattes, researchers have estimated the following demand and supply curves. Demand:...

A: Price floor is the minimum price that must be paid to sellers. It is binding when it is set above th...

Q: A. Is product X a normal or an inferior product? Justify. B. How are product X and product Y related...

A: The supply curve shows the positive relationship between the price and quantity supplied. It means t...

Q: D. As a result of an economic boom in Calgary, the average income increases from 2,800 to 7,700 per ...

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...

Q: eBook A father is now planning a savings program to put his daughter through college. She is 13, pla...

A: Average rate of inflation is 5% annually. So if she enrolls in a 4 year program after 5 years, total...

Q: Which of the following is NOT an input?

A: To find : Which is not input. 

Q: A two product firm faces the following demand and cost functions: Q1 = 40 - 2P1 - P2            Q2=...

A: Given: The demand function for a product is:  Q1 = 40 - 2P1 - P2Q2 = 35 - P1 - P2 And the cost funct...

Q: Question: Find The Equilibrium Quantity And Equilibrium Price Commodity Whose Supply And Demand Func...

A: The supply function is the mathematical expression of the relationship between supply and the factor...

Q: I. Increase in interest rates causes the supply curve to shift. II. Monetary expansion causes a decr...

A: 1) Increase in the interest rate causes the supply curve to shift In the financial market interest r...

Q: In Marx’s theorizing, what is the relationship between profit and surplus-value?

A: Marx's theory focuses on the impact of capitalist system on the labour, productivity and the firms. ...

Q: Suppose the market for apples is perfectly competitive. The short-run average total cost and margina...

A: (1) A perfectly competitive firm produces at P=MC in short run. The market price for apples is $26 ...

Q: A company has the option of building a warehouse now or building in three years from now. The cost n...

A: Given: The cost of the building now is = $400,000 The cost 3 years from now will be = $500,000 The r...

Q: How is regionalism different from and yet a part of globalization?

A:   Meaning of Globalization: The term globalization refers to the situation under which there are two...

Q: Which of the following statements is/are correct? I. The supply-of-loanable-funds schedule (also cal...

A: The Demand curve for Loanable funds, DLDL is a downward sloping curve. It shows an inverse relations...

Q: One leading theory about why the poor are in worse health than the rich is that the rich enjoy a gre...

A: Allostatic load refers to the wear and tear of the body.

Q: 7. a. Consider an exchange economy with two goods and two individuals. Alice always requires equal q...

A: *Hi there , as you have posted multiple sub parts , we are only allowed to solve first three . Kindl...

Q: A tax A) places a wedge between the price paid by the buyers and the price received by the sellers. ...

A: Whether the tax is imposed on buyers or sellers, the effect of the tax is same. It leads to ineffici...

Q: Illustrate the Advantage and disadvantages of Globalization

A: The process through which the world becomes interconnected due to an increase in trade along with cu...

Q: In the demand curve, there is a mid-point. Determine the value of: i. Elasticity of demand in the m...

A: Elasticity at mid point = 1 Elasticity of demand above the mid point is greater than 1

Q: If economists predict that the country of Verdoon will double its real GDP in 5 years, then accordin...

A: GDP: Gross domestic product or what is commonly known as GDP is the measurement of the final value o...

Q: d e f

A: The demand curve shows the inverse relationship between two variables that are price and quantity de...

Q: A downtown bar serves a drink that UCSB students love. The profit-maximizing owner knows that any gi...

A: Student demand, p = 14-q Non-student demand, p = 6-q Large package of 12 drinks  Small package of 4 ...

Q: u(x,y) = x + y Px=9 Py=3 U=120 Solve for hicksian demand for good x and y

A: Given  Utility function: ux,y=x+y            ... (1) Price of good x Px =9 and price of good Y is PY...

Q: There are differences and similarities among the different trade models. Here are some of them: -The...

A: Answer to the 1st blank is "only one factor of production" (as goods produced in this model are homo...

Q: Suppose that the annual maintenance cost of a public park is $40,000. The park has no entrance fee a...

A: Total cost is the summation of total variable cost and total fixed cost. Total fixed cost is the cos...

Q: In this market, the equilibrium hourly wage is $ and the equilibrium quantity of labor is thousand w...

A: Equilibrium wage and quantity is found where the demand and supply curves intersect. In the diagram,...