Which of the following are the three major categories of resources? a) natural resources, physical capital, human capital b) institutions, human capital, land c) land, labor, technology d) physical capital, technology, institutions e) labor, physical capital, technology

Q: The next four questions refer to the following supply and demand graphs: III IV XIXIXIX Da D. D, 33,…

A: Thank you for the question. As per BNED, we can answer 3 subparts per session. To get the answer for…

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Q: 3. From the following graph, show the equilibriums under each scenario. Market is in equilibrium at…

A: Equilibrium in market Equilibrium is a state in the market where the demand of the market and…

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A: Business cycle refers to increase and decrease real output produced in the economy.

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A: Opportunity cost refers to foregone income that could have been earned if resources were invested…

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A: Firms are said to be in perfect competition when the following conditions occur: (1) many firms…

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A: Budget Constraint shows that the value of all the goods that a consumer consumes should be less than…

Q: Consider the following NIPA Data $4,350 $662 PCE-GOODS EXPORTS-SERVICES $2,659 CHANGES IN PRIVATE…

A: Gross domestic product, or, GDP refers to the value of all the final products that is manufactured…

Q: 1. Scarcity, opportunity cost, and marginakanalysis Kate is training for a triathlon, a timed race…

A: Scarcity is one of the most essential concepts in economics.It means that the demand for a product…

Q: Describe the idea of cost of a life-cycle in your own terms. Why is the life-cycle cost savings…

A: In a market, when a product is produced, there are different types of cost incurred in converting…

Q: Assume that the MPC is 0.70.  What is the income multiplier?   Question 46 options:   a)  0.3   b)…

A: MPC + MPS = 1 Where MPC is the marginal propensity to consumer  MPS is the marginal propensity to…

Q: Nominal gross domestic product (GDP) is a poor measure of economic growt because it a) does not…

A: Gross domestic product measures the value of final goods and services produced within the economy at…

Q: An increase in the labor force would be reflected in a society's production possibilities frontier…

A: Production possibilities Frontier shows the combinations of two goods that an economy can produce…

Q: A. (CHAPTER 6) Suppose there are two islands. The total population on the two islands is 800 people.…

A: Market clearing basically refers to the process by which the supply of whatever is exchanged is…

Q: What is the primary difference between a monopsonist and a firm which operates in a perfectly…

A: "Monopsony labor market occurs when there is only one employer in a labor market."

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Q: Which of the following would be studied in macroeconomics? O a) individual markets b) changes in the…

A: Macroeconomics is the branch of economics that deals with issues concerning the economy as a whole.

Q: The demand and supply functions of rice is given as P = 200 – 0.5Q and P = 100 + 0.5Q respectively.…

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Q: Institutions that help to channel funds from savers to borrowers are known as a) corporations. b)…

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Q: Assume that the linear cost and revenue models apply. An item costs $4 to make. If fixed costs are…

A: linear models are an approach to portraying a reaction variable with regard to a straight mix of…

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Q: MC w, S- AC VMP. VMP = value of marginal product, N = employment, and W = wage. The equilibrium %3!…

A: In the monopolist equilibrium conditions is where there marginal cost of equal to Marginal Revenue.…

Q: Why do shortages develop under a binding price ceiling? O a) A ceiling makes the price so low that…

A: Price ceiling refers to the maximum legal price that can be charged for a good.

Q: Trade theory cannot account for the empirical fact of intra-industrial trade (i.e. that countries…

A: According to trade theory, a country's economic well-being is based on the production of commodities…

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A: An aggregate demand curve shows the inverse relationship between the price level and the total…

Q: Question 2: You want to invest your $6000 in a financial asset. In 2020, one-year US bonds pay an…

A: Answers   a) Let the investment is made in US bonds Expected return in US bonds=3% Now assume that…

Q: Andrea starts her own business, which earns $75,000 in accounting profit in the first year. When…

A: Here we calculate the economic Profit of the Andrea's from this business and choose the correct…

Q: : Q1/ Choose the correct answers for each of the following 2- If the value of income elasticity of…

A: Income Elasticity of demand is defined as type responsiveness of the quantity demand when income…

Q: Which of the following statements is FALSE? The monopsonist is a wage taker. The monopsonist has…

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Q: 3. Suppose an economy is in long run equilibrium. 3.1 use the model of aggregate demand and…

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Q: Consider an economy with a floating exchange rate that also allows borrowing from or lending to…

A: In an open economy, any change in domestic interest rate will have an impact on the demand and…

Q: Please write 2 pages about: Inverted yield curve (Treasury inverted yield curve) and what it means…

A: The extraordinary decline in yields on longer-term debt below yields on short-term debt of the same…

Q: Question 11 (Market Failure) Consider a labor market in which employers hire and pay workers…

A: In economics, a scenario is known as a "market failure" is one in which the supply of commodities…

Q: Compare monetary and fiscal policies of the UK and another developed country (of your choosing)…

A: Two countries: the UK and the USA Both nations have used the expansionary fiscal and monetary…

Q: What stops oligopolists from acting together as a monopolist and earning the highest possible level…

A: Oligopoly market is the place where fewer but larger firms have the control over the market as they…

Q: Fiscal Policy refers to the idea that aggregate demand is affected by changes in Question 58…

A: Fiscal policy is a tool of government which they use to control the economy stability.

Q: If the price of industrial plastic injection molding machines rose by 20% and the price of oranges…

A: CPI is the weight average of prices of a basket of consumer goods.

Q: Garcia and Company is considering four mutually exclusive alternatives for CNC machining. The four…

A: The incremental internal rate of return is used in a situation where there are two probabilities…

Q: 1. This theory is concerned on how to increase production efficiency to lower costs, raise profits,…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: The Federal Reserve's Board of Governors consists of _____ members who are appointed by the _____…

A: Federal reserve is the central bank of United States.

Q: Which is the largest component of U.S. gross domestic product (GDP)? a) government purchases O b)…

A: GDP measures the value of final goods and services produced within the country in a specific period…

Q: Lary's demand function for good X is XL = 0.5 M/p where p is the price of the good and M denotes…

A: Answers   Engel curve depicts the relationship between demand of a good and income of consumer. XL…

Q: Which of the following will cause the demand curve for a good to shift to the right?   Question 50…

A: When factors impacting demand, other than the price of the commodity, shifts the demand curve. The…