Voters in California are able to vote on propositions to create their own laws and through this process, they can amend or repeal statutes (laws) of the California Constitution. This is a form of: O. Direct Democracy O. Representative Democracy O. Totalitarianism O. Executive Order

Q: 43. If income elasticity for a good is 2, then it is a A. Necessity item B. O Inferior good C. O Lux...

A: Elasticity of demand is used to assess the change in quantity demanded as a result of changes in dem...

Q: What did the National Environmental Policy Act accomplish? Briefly describe the origin and mission o...

A: Environmental economics is a branch of economics that deals with environmental issues. Because of gr...

Q: Consider the closed-economy model of the money market in which, the demand for real balances depends...

A: Given information Money demand function M/P=L(i,Y-T) M/D= real money demand  i= interest rate Y-T= d...

Q: Kettle Moraine Corporation sources goods and services for its gardening products from different loca...

A: Answer(c)  Globalization of production.

Q: 2a) Sompa's utility function for strawberries and grapes is given by U (S, G) =10S?G. Where S repres...

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

Q: Consider a second-hand car market with two kinds of cars, type A which are completely reliable, and ...

A: In the second-hand car market, both buyers and sellers have different information regarding the cond...

Q: Suppose the market for coffee is characterized by perfect competition. Assume that all firms are ide...

A: Answer: Given, LATC (long-run average total cost) function: LATC=Q+5+25Q LMC (long-run marginal cost...

Q: Two new instruments are being considered for an engineering firm. The firm uses a 12%/year expected ...

A: Given information Option 1 Initial investment=$120000 Annual return= $17500 n=12 years Option 2 Init...

Q: Consider a competitive market, dispersed among hundreds of companies. The Total Cost Curve of these ...

A: Cost of a firm in a competitive market: TC= 5000+2q2-400q (differentiating the TC wrt q, we get the ...

Q: Refer to the accompanying figure. For the nation whose PPC is shown, it must be true that Milk (gall...

A: Production possibility frontier shows the different combinations of two goods that can be produced w...

Q: Describe four ways in which critics hold that neoclassical economic approaches can worsen environmen...

A: Neoclassical economics is a collection of economic strategies that concentrate on deciding the distr...

Q: 1. A commercial building has a salvage value of PhP 2 million after 50 years. Annual depreciati PhP ...

A: Given the salvage value = 2 million Depreciation = 2M  

Q: Prove that the multiplier is equal to 1/(1-mpc)

A: We know Y = C + I and C = a + bY where  Y is income C is consumption  I is investment  a is autonomo...

Q: Figure 1 Y A' X X Nation 1 Nation 2 1. Which nation has a stronger preference for Y? Explain. 2. Wha...

A: Production Possibility Frontier curve indicates all combinations of output that can be produced by a...

Q: A textile firm in a competitive industry employs a particularly efficient manager to run the operati...

A: Economic Profit refers to the profit that includes in its calculation the forgone opportunity costs ...

Q: A remotely located air sampling station can be powered by solar cells or by running an electric line...

A: Using the FV calculation, investors may make educated guesses about how much money they can expect t...

Q: Price A 10 B 8. IG C 6. H M D 4 |K E 2 F 40 50 60 70 Quantity Using the graph in question 14. If the...

A: Suppose curve shows different levels of quantity firms are willing to supply at different price leve...

Q: In a market for housing insurance against wildfires, the adverse selection model would predict that....

A: “Since you have asked multiple question, we will solve the first question for you. If you want any s...

Q: At Jody's bakery they are currently selling 400 loafs of bread. It cost them $4,000 to buy an oven, ...

A: Variable cost: A variable cost is a corporate expense that changes in proportion to how much a compa...

Q: The birth rate of the United States in 2014 and 2015 was 12.5 births per 1000 people, and the death ...

A: Given: The birth rate of the US = 12.5 births per 1000 people The death rate =  8.2 death per 1000 p...

Q: Refer to the information provided in Figure 14.1 below to answer the question(s) that follow. Demand...

A: The correct answer is given in the second step.

Q: In the long-run framework, budget surpluses: Choose the Correct and Explain why its correct should ...

A: When the income tends to exceed the expenditures of an economy, there is an occurrence of budget sur...

Q: 23. Can the government bring about an efficient outcome by imposing a price ceiling on a monopoly? E...

A: Answer: A monopolist maximizes its profit by selling the quantity where the marginal revenue (MR) an...

Q: On the same graph paper, draw the Supply Curve for the Supply Schedule below, after Anton discovered...

A: Given Price per haircut Quantity of haircuts supplied per day 6 30 8 40 10 50 12 60 14 ...

Q: Aggregate demand measures: the average price of all goods and services demanded. O the total output ...

A: Aggregate demand:-                                   AD=C+I+G+NX where; AD= Aggregate demand C= Cons...

Q: An investment has the following cash flow series where interest is 7%: End of Year 0 1 2 3 4 5 6 7 8...

A: Given  r= 7% End of year 0 1 2 3 4 5 6 7 8 Cash flow 150 300 450 0 -500 0 600 700 800

Q: If the firm has a total cost function of: TC = 144 + 3Q Explain what this means in terms of profit...

A:

Q: Which of the following statements is true? According to Okun's law: Select one or more: a. unemploym...

A: Please find the answer below.

Q: Natural Gas Market: Due to persistent shortages, Congress eliminates the cap (i.e., price ceiling) o...

A: Price ceiling Price ceiling refers to fix the maximum price of a commodity that is usually below the...

Q: There is a one-period supply shock where o = 0.10. Assume inflationary expectations are adaptive so ...

A: O = 0.10πe = πt-1 After the supply shock,O = 0

Q: The aggregate production curve is a 45 degree line. [True or False] – Explain Why

A: Aggregate Production Curve : The Aggregate Production Curve or the Aggregate Production function is ...

Q: Refer to the information provided in Figure 13.7 below to answer the question(s) that follow. 16 15 ...

A: Firms can easily enter or exit a purely competitive market in the long run. In addition, pure compet...

Q: Consider a competitive, price-taking firm that employs only one variable input, labor, to produce a ...

A: In perfect competition, many buyers and sellers are selling homogenous products. In this market, the...

Q: Which of the following transactions would NOT be counted in GDP? Select one: a. Nike builds a retail...

A: GDP refers to gross domestic product which is accounted by addition of all the values of final goods...

Q: Inflation hurts: select correct and Explain why  everyone. those whose incomes don't change. those ...

A: Inflation hurts 1) Everyone: Inflation has an impact on almost everyone but it does not hurt everyon...

Q: Part B On the same graph paper, draw the Supply Curve for the Supply Schedule below, after Anton dis...

A:

Q: Describe how drug cartels are able to recruit new members when their members are murdered. Describe ...

A: (1) In many regions of the world, drug cartels are one of the most sophisticated formally organized ...

Q: Is giveln by . A) Mr. Lou's utility pints) to derive his general demand function as in class. That i...

A:

Q: Crowding out occurs when   Question 25 options:   increased money supply causes private expenditur...

A: Crowding out is a situation that arises when the government applied pure expansionary fiscal policy....

Q: In the following game, identify how many subgames there are. Then, solve the game to find its subgam...

A: The game has 4 sub-games which are as follows: 1) Subgame for actions W and X 2) Subgame for actions...

Q: Q3: If you have the following data: price (8,4,5,6,7) and quantity (5,4,3,2,1) and the desired hypoc...

A: Here, the given data provides information about the price, quantity and desired hypocrisy of the peo...

Q: On the same graph paper, draw the Supply Curve for the Supply Schedule below, after Anton discovered...

A: Part B   Price per haircut ($) Quantity Supplied 6 30 8 40 10 50 12 60 14 70 16 80 ...

Q: After economics class one day, your friend suggests that taxing food would be a good way to raise re...

A: The curve that depicts various quantities being demanded by individuals at various levels of price i...

Q: What are the determinants of demand? What happens to the demand curve when any of these determinants...

A: the factors that cause a change in the demand and quantity demanded of the goods are called determin...

Q: Ronald McDonald decides to install a fuel storage system for his tarm that will save him an estimate...

A: Given, Ronald McDonald decides to install a fuel storage system for his farm that will save him an e...

Q: Covington Corporation purchased a vibratory finishing machine for $20,000 in year 0. The useful life...

A: Cost of machine = $20,000 Useful life of machine = 10 years  Annual revenue from machine = $7000 Ann...

Q: A Managment instutute can operate for a maxium 12 hours .lectures are the outout of the institute an...

A: A function affirms the connection between one info and one result, or many contributions to yield a ...

Q: When the government finances deficit spending through the issue of government bonds, the government ...

A:  Fiscal Deficit Fiscal deficit refers to a situation in which government spends more than its revenu...

Q: 9. A higher indifference curve shows

A: To find : What higer indifference curves 

Q: On a graph for a monopolist or monopolistic competitor, which of the following curves coincide? a) T...

A: (2) The demand curve depicts the price at each level of quantity demanded.  Average revenue is calcu...