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What is cost ?differentiate between money and the real cost in economics
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- Why economics is an applied science? Is economic is a study of money?Imagine you are an economics professor in a world without money. Explain why it would be tricky to obtain groceries, clothing, and a place to live.I was able to do the table but I am not able to figure out or figure out the formula for figuring out (b)(c)(d)
- i will 4 upvotesWhy isn’t money considered capital in economics? Which of the following are microeconomic issues? 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 to fall c. How does a quota on textile imports affect the textile industry? d. Does a large federal budget deficit reduce the rate of unemployment in the economy? Explain the importance of the ceteris paribus assumption for an economic model. Analyze the positive versus normative arguments in the following case. What statements of positive economics are used to support the requiring of airbags? What normative reasoning is used? Should the Government Require Air Bags? Technological advances continuously provide new high-tech options to save lives that add to the price of cars, such as cameras, radar, and airbags. Airbag advocates say airbags will save lives, and the government should require them in all cars.…Which of the following statements about point E is TRUE?
- Now that we've talked a little about what economics is, let's consider the concept of value. When we look at the circular flow diagram, what role does value play? How does it flow through the system?i need this answer i will 5 upvotesThe purpose is to know if you can define each concept through a clear and precise explanation. Imagine that you are going to explain each term to someone who does not know anything about macroeconomics; With this in mind, the explanation should be as clear and simple as possible (not brief). Write a minimum of three sentences per term.1. capital market2. capital injection3. financial system
