Which of the following statement is not true? * O A country's political economy is independent of the culture of a nation A country's political economy is a combination of interdependent political, economic and legal systems A country's political economy systems interact and influence each other The interaction of a country's political economy systems affect the level of economic well-being
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- Imagine a society that produces military goods andconsumer goods, which we’ll call “guns” and “butter.”a. Draw a production possibilities frontier for gunsand butter. Using the concept of opportunity cost,explain why it most likely has a bowed-out shape.b. Show a point on the graph that is impossible forthe economy to achieve. Show a point on thegraph that is feasible but inefficient.c. Imagine that the society has two political parties,called the Hawks (who want a strong military)and the Doves (who want a smaller military).Show a point on your production possibilitiesfrontier that the Hawks might choose and a pointthat the Doves might choose.d. Imagine that an aggressive neighboring countryreduces the size of its military. As a result, boththe Hawks and the Doves reduce their desiredproduction of guns by the same amount. Whichparty would get the bigger “peace dividend,”measured by the increase in butter production?Explain.According to Adam Smith, the “invisible hand”refers to which of the following?a. The “best interests of society” (publicinterest) will occur as an outcome of themarket process coordinating the selfinterestedinteractions of buyers and sellers(private interest).b. Government interference in markets toprevent greed.c. Bribes and graft that interfere with themarket process.d. The “best interest of society” (public interest)will occur as an outcome of careful guidanceby government authorities in allocatingscarce good and services according to privateinterest.Can you pls give your insights or reflection regarding this video on how to solve economic problems? https://youtu.be/xenGlbOHR1k
- use the following scenario to answer the following quation : an economy has a two workers smith and ricardo. each day theywork .smith can produce 4 computers and 16 smartephone. and ricardo can producce 6 computers and 12 smartphones. (1) the opppertunity cost for smith to produce one computer is ......... smart phones. (a) one quater of (b) one half of (c) one (d) two (e) fourJohn Stossel’s Video “GREED,” by ABC News. 45-minute videoGreed (ABC 20/20 - 1998) (with English subtitles) - YouTube 1. If greed in some measure seems to be a rather universal characteristic, is it possible channel or directit to achieve good results or socially acceptable ends? Explain .2. The poet John Donne said “No man is an island, entire of itself; every man is a piece of the continent,a part of the main...” As you recall Mr. Stossel’s steak dinner, explain what would undoubtedly happento your personal standard of living if you were live a completely self-sufficient life-style? What wouldyou spend most of your time doing? 3. Would it ever be logical – be in your best interest to turn down a pay raise? 4. Explain how people respond to incentives and how markets turn self-interested behavior to thebenefit of consumers.What is economic forum?? And what is open market operations??
- a) i)Explain difference between; ii,Microeconomics and macroeconomics iiiPositive and Normative economics b) Given the following demand and supply functions as; i)Find the price elasticity of demand and price elasticity of supply at the equilibrium point. ii)Based on the values obtained from Price elasticity of supply in (i) above, what advice would you give to the producer if he is to increase revenue? iv)Using illustrations, distinguish between Minimum and maximum price v)Assuming the government, set the price at 45shs, determine whether its minimum or maximum price, and state the surplus or deficitA. In “The New Abolitionism,” Chris Hayes’ primary point is that: The sum of wealth that must be given up to avert climate disaster is similar to what slaveholders lost due to the Civil War The climate justice movement is the modern moral equivalent of the fight to eliminate slavery in the U.S. Both of the above None of the above B. According to the GDAE, the Trump Administration: Enacted major budget cuts to the Environmental Protection Agency Appointed EPA administrators with connections to the fossil fuel industry Eliminated programs that reduced air pollution, protected safe drinking water, and promoted the safe use of pesticides All of the aboveI used the word Global POLITICAL ECONOMY to describe the sum total of all interactions in the world and how it relates to itself. The textbook uses two other words as the main PERSPECTIVES in the book. a. What other word describes the POLITICAL part of those interactions (the ____-based perspective)? b. What other word describes the ECONOMY part of those interactions (the ____-based perspective)? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- An economy produces two goods ,X and Y .lt uses two means of production, labour and capital. A unit of labour can produce either 1unit of X or 4units of Y (or linear combination of the two).A unit of capital can produce either 4units of X or 1unit of Y (or linear combination of the two)there are 100units of each means of production. (i) Draw the production possibility frontier of the economy when the two goods can only be produced by a mixture of both factors. (ii)What will be the opportunity cost of X if the economy produces 50units of X ? (iii) Given that the production technology is linear ,will the opportunity cost of X remain unchanged when we produce 90units of X ? (iv)Briefly explain the difference between the PPC with a constant opportunity cost and the PPC with an increasing opportunity cost as more output of one good is produced. Use a well labeled diagram to explain your answer?Hi there. can you please assist on the following question below Multiple-choice questions: Select one correct answer for each of the following. Q.1.1 Consider the information contained in the table below. The table shows output rates in France and Holland for two goods (cheese and wine), when resources are fully and efficiently utilised. Country Cheese Wine Holland 450 150 France 400 100 Based on this information:(1) Holland should specialise in wine production and should export wine toFrance;(2) Holland has the absolute advantage in both cheese and wine production and consequently will not benefit by trading with France;(3) France should specialise in wine production and should export wine toHolland;(4) Holland should specialise in both cheese and wine production and should export both goods to France.Q.1.2 News about high levels of criminal activity in South Africa discourages American tourists from visiting South Africa. This decline in the number of tourists from the USA…what is Adam's smith theory on The Invisible hand of a Market Economy