When the economy is not producing at capacity, economic policies are Select one: a. None of these b. ineffective at changing output. c. effective at changing output. d. unrelated to output.
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- Which central problem of an economy is concerned with the selection of goods and services to be produced? a. Where to produce? b. How to produce? c. What to produce? d. Whome to produce?Economics is best defined as the study ofa. how society manages its scarce resources.b. how to run a business most profitably.c. how to predict inflation, unemployment, andstock prices.d. how the government can stop the harm fromunchecked self-interest.From the Microeconomices, regarding to the MRS, how they work out for Ux and Uy? For example: U(x,y)=xy/x+y.Thank you
- 13. Please solve subparts A,B max in 25-30 minutes about Macroeconomics thank ub. Classify each of the following statements as positive or normative. Explain.i. Bahamas faces a trade-off between inflation and unemployment ii. The ECCB should reduce the interest rates iii. St. Lucia ought to provide a pension for all citizens iv. Higher tax rates discourage savings an working.Economic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behave
- Which question is an example of a microeconomic question? A. What should the Federal government do to reduce the trade deficit with Japan?B. Will the merger of two airlines likely lead to higher cost of air travel in the economy?C. What factors are contributing to the steep rise in the federal government's total debt?D. Will the inflation rate remain relatively stable this year?G, 2 EconomicsIn January 2021, the Government cut the JobKeeper subsidy to pandemic-hit businesses for employing workers at least 20 hours a week from A$600 to $500. How might this impact the economic recovery process? (There is no need to draw graphs.) Please answer using macroeconomic Principles
- Question 4Why the classical economists failed to explain the reason of the great depression? What did the Keynesian economists put forward in reponse to that event?a) If a nation in which the volume of goods and services is growing by 5 percent per year and its if the population is growing more than 5 percent a year, the increase per capita will be more than 5 percent. True False b) Individuals have two choices with their income: they can spend it or save it. True FalseComment on the statement: “Increasing government spending is preferred to a cut in taxes when the U.S. government seeks to fight a recession.” As we know that the statement is normative, i.e., it has value judgement on the issue of whether large or small government is preferred. Show your own opinion.