What is the smith's theory of absolute advantage in international trade?

Q: Pattern in which economies with low per capita incomes grow faster than economies with high per…

A: Per capita income is the ratio of total income and total population in the economy.

Q: Calculate the Marginal Utility then the MU/P to find Consumer Optimum. How many drink(s) and Big…

A: PLease check the step 2 for solution

Q: Suppose a single item will be sold to one of two bidders. Each bidder's value is drawn uniformly at…

A: Let the bids made by   two professors  be  : b1 & b2  Also the their valuations for the bid be :…

Q: Name and describe two different ways the government takes in money (revenue).

A: The two different ways the government takes in money i.e. revenue is - Income tax Corporation tax

Q: How much would you have to deposit now, so that you can withdraw of $10000 starting at the end of…

A: Given:  withdraw of $10,000 starting at the end of year 5 subsequent withdrawals will decrease a…

Q: Luis has $180,000 in his retirement account at his present company. Because he is assuming a…

A:

Q: 2. (4) A pediatrician wants to determine the relation that exists between a child's height and head…

A: To check whether there exists a linear relationship between a child's height and head circumference,…

Q: give a real-world examples

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Q: To increase productivity the most a) the skilled educated labor force must grow faster than capital…

A: Productivity is a term that refers to the performance of an economy by making a comparison between…

Q: Question (1) :  (a) What are the roles and responsibilities of Bangladesh Bank?  (b) Does…

A: a)▪︎Role of Bangladesh Bank:-  • The primary task of Bangladesh Bank, the nation's central bank, has…

Q: A firm with market power has an individual consumer demand of Q = 10 − P and total costs of C = 2Q.…

A: A monopoly is the market where firm has market power.  Monopolist choses to produce where MR equal…

Q: A bus company employs two drivers and a bus to provide a bus route. What is the returns to scale of…

A: Returns to scale is a phrase that describes how proportionally changes in output change when all…

Q: explain how economic growth could be a factor for the unemployment rate

A: The process by which the economy's final commodities and services increase is known as economic…

Q: . Pedro bought a new car today from Barboncito Motors. The former proposed to pay the latter the…

A: Presents values is the values of investment in today's dollar.  Future value is the value of…

Q: 2. Alexandria and Bob can each choose to Work or Not Work on a task. Each person's output is £80 for…

A: Game theory provides a theoretical foundation for conceptualizing social situations with competing…

Q: mèstion 11 On which of the following loans is the interest rate tax deductible O Home mortgages.…

A: The interest rate is the sum that the lender charges the borrower in addition to the principle…

Q: 1. Consider a 3-consumer, 3-commodity exchange economy. Index the consumers as a, b, c and…

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Q: An expansionary fiscal policy can increase the level of aggregate demand by reducing corporate tax…

A: The term "fiscal policy" refers to a government's approach to influencing the state of the economy…

Q: The Tourist-Trap model describes a situation where the existence of a search cost, c, and price…

A:

Q: Suppose that Accra Hearts of Oak raise ticket prices from ¢50 to ¢60 per seat and experience a 5…

A: The elasticity of demand, also known as demand elasticity, measures how demand responds to price or…

Q: By diagram explanations of Monopoly market structure, the long run equilibirium under the Marginal…

A: A monopolist firm cannot change all productive resources in the short-run. A monopolist may also…

Q: 2. Suppose you have many identical firms in a long run competitive equilibrium. Each firm's average…

A: Competitive firm is the market where large number of sellers and buyers exist and exchange…

Q: Write both a null and research hypothesis for the following variables: study time and academic…

A: Hypothesis refers to a guess or an assumption about the possibility of what is going to happen. It…

Q: Which of the following statements best represents the relationship between Keynesian and…

A: According to Keynesian perspective, polices of fiscal and monetary is used in short run to balance…

Q: Please answer question D

A: A financial investment's anticipated return value is known as the expected return on investment. It…

Q: Consider a monopoly beer manufacturer operating under the following conditions in the short run:…

A: Production function shows the relationship between inputs used and output received.  The optimal…

Q: An open economy interacts with the rest of the world through involvement in world financial markets,…

A: Capital inflows are described as net purchases (difference between purchases and sales) of domestic…

Q: Up Down Player 1 Up Down Up Down Player 2 In the game above, what is/are the sub-game perfect Nash…

A: "In game theory, sub-game perfect Nash equilibrium is a type of Nash equilibrium in which for every…

Q: The reaping, processing and sale of sugarcane is a booming sector. However, the late 1990s and…

A: Quantity desired in economics refers to the total amount of an item or service that consumers demand…

Q: A machine costs P7,000, last 8 years and has a salvage value at the end of life of P350. Determine…

A: The term depreciation implies an accounting method utilized to allocate the cost of a tangible or…

Q: lump-sum taxes?

A: Given saving % = 20 % MPC = 1 – MPS MPC = 1 – 0.20 = 0.80 Now, Spending multiplier = 1 / MPS = 1 /…

Q: 1. From the following hypothetical data, plot the demand and supply curves and determine the…

A: Equilibrium is where demand curve intersects supply curve  Demand curve is the downward sloping…

Q: Could you explain what's happening with c please? what does sd + nk mean?

A: Steady state is where the change in capital per worker is zero.  That is  the capital per worker ,…

Q: You are the chief learning officer for your organization and are tasked with evaluating a recent…

A:

Q: explain how GDP could be a factor for the unemployment rate

A: GDP stands for the total dollar value of all goods and services produced in an economy over a…

Q: The accompanying table shows the average annual wage for a country, in thousands of dollars, fo .…

A: Given information Year Average annual wage (,000) 1970 9.6 1980 24.8 1990 26.3 2000 45.6…

Q: What is indirect tax? Write its four definitions.

A: Taxes are a type of mandatory payment made by individuals to the government. There is no direct…

Q: What is proportional tax? Write its merits and demerits.

A: Taxation does more than only pay for public goods and services; it also plays a vital part in the…

Q: Discuss how the unemployment rate has changed from 2000 to 2019 as shown in order on the table

A: The unemployment rate measures the percentage of people who are unemployed in the labor force.…

Q: ployment and unemployment c-the sum of employment and u

A: Labour force = unemployed + employed individuals It is the amount of individuals who are employed or…

Q: explain how inflation could be a factor for the unemployment rate

A: Inflation refers to the rise in price levels of products and services in the economy. Inflation…

Q: b.) Cobb-Douglas. Assume the firm has a generalized Cobb-Douglas technology y = 0.xx.x₂, where 0 <a,…

A: A Cobb-Douglas technology function is a type of production function. It is used to evaluate the…

Q: Possitive short run relatioship between the prices level for outpput and reall  gdp holding the…

A: GDP, gross domestic product is the value of final goods and services produced in the economy within…

Q: 2. If, when the price of a product rises from GHc1.50 to GHc2, the quantity demanded of the product…

A: Elasticity of demand measures how much a good's demand alters as a result of modifications to its…

Q: 5. Assume that the price changed from P1 to P2. Compute for the point elasticity and determine the…

A: Price elasticity, also known as the elasticity coefficient, is a word used in economics to describe…

Q: How much would you have to deposit now, so that you can withdraw of $10000 starting at the end of…

A: Given, $10,000 per withdrawal beginning at the conclusion of Year 5 After year 8, withdrawals will…

Q: Loise spends £20 on tea (T) and coffee (C). Her preferences for these goods can be described by the…

A: Utility function : 2T + C2 - C  Price of Tea = 1.6  Price of Coffee = 4  Budget Constraint : 1.6T +…

Q: (a) Suppose we have the following production function: Q = min [10 K, L]. Confirm the technology…

A: Returns to scale refers to the proportionate change in output scale when the input levels are…

Q: The following table shows income tax rates in Econoland. Annual Income Up to $60,000 From $60,001 to…

A: Progressive income tax means the burden of tax increases as an increase in income. As the…

Q: Let's say that you have put $1,000 in your savings account at a local financial institution, and an…

A: A bank is a financial institution that serves the purpose of being an intermediary between borrowers…