who is the father of economics

Q: The following table shows consumption (C), investment spending (I), and government purchases (G), in...

A: If the income tax rate is 25%, the disposable income (after tax) is equal to 75% of the real GDP. A...

Q: Assume a hypothetical society that decides to reduce consumption (production of consumption goods) a...

A: Reducing consumption and increasing investments would increase the economic growth for future ie the...

Q: Assume a hypothetical society that decides to reduce consumption (production of consumption goods) a...

A: 1) Given the level of income in the society, the siciety can either consume or invest ie there is a ...

Q: If you are given a choice to live in a country with high level of GDP and low growth rate or to live...

A: Gross domestic product (GDP) refers to the total value of all the final goods and services that prod...

Q: Two firms dominate the market for surgical sutures and competeaggressively with respect to research ...

A: Payoff matrix: It results from a framework table in which one player's methodologies are recorded in...

Q: Following an expansionary monetary policy, we would expect lower interest rates, dollar   a. de...

A: Expansionary monetary policy is used when the Reserve Bank or the central bank decides to stimulate ...

Q: If U.S. securities pay 6 percent interest, and if Great Britain’s securities pay 8 percent interest,...

A: If the interest rate is more than people tend to invest more in that security as it would fetch high...

Q: please solve the question completely. Suppose an industry consists of two firms that compete in pric...

A: The products are homogeneous since they have identical cost structure and have identical demand func...

Q: Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See Ex...

A: Consumer surplus refer to the area under the demand curve which is the difference between what a con...

Q: What is the difference between a "change in demand" and a change in "quantity demanded."

A: An individual is said to be a consumer when he enters the market to buy commodities or service to sa...

Q: C                      I                         G                               NX              Pri...

A: Nominal GDP = C + I + G + NX Nominal GDP in the year 1 = 1000 + 156 + 560 +52                       ...

Q: 45 60 70 75 (Ref 21-2 Table: Production Function for Soybeans) Use Table 21-2: Production Function f...

A: Fixed cost is defined as that part of the total cost that doesn’t depend on output level. There will...

Q: Question attahed in image

A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the ...

Q: Data Analysis - Economic Growth and Unemployment [1 Question] Year 2010201120122013 2014 2015 Econom...

A: The unemployment rate is defined as that fraction of the labour force, which is unemployed. Economic...

Q: Under what circumstances can a state impose a tax on goods that are imported into the state from ano...

A: Trade barriers refer to the trade restrictions that can be either tariff barriers or non-tariff barr...

Q: Discuss the contributions of oil sector on the UAE economy and the analysis of  what will happen wit...

A: UAE economy: The UAE has an open economy with a high for every capita pay and a sizable yearly excha...

Q: An economic boom in the United States will tend to cause booms in other countries because as U.S. GD...

A: Exchange rate refers to the amount of domestic currency that required to purchase one unit of foreig...

Q: Suppose Honda’s total cost of producing 4 cars is $225,000 and its totalcost of producing 5 cars is ...

A: Note : Since you have uploaded two questions together , only the first question shall be answered . ...

Q: A consumer has income of $15,000. Masks costs $35 per mask, and sanitizers costs $70 per bottle.   ...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: Please copy paste. Solve on clean white paper. Explanation

A: Answer to the question is as follows :

Q: Weekly Income: $28Price of Soup: $5Price of dessert: $3 i) How much dessert should be consumed at th...

A: Answer - Given in  the question - Weekly Income: $28Price of Soup: $5Price of dessert: $3

Q: Define economies of scale and explain why they might arise. Define diseconomies of scale and explain...

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want...

Q: 4. Velocity and the quantity equation Consider a simple economy that produces only pens. The followi...

A: 2018 velocity can be calculated as follows: MV=PY360×V=9×800360V=7200V=20 Thus, the 2018 velocity of...

Q: What type of unemployment does each of the following represent? Explain your answers.  Q.6.1 Workers...

A: Hello, thank you for the question. Since there are multiple subpart questions posted here, only the ...

Q: Comparing international trade with trade among the different states of the United States shows that ...

A: International trade- transactions taking place between countries. 

Q: Use the following composition of expenditure for the economy of a countrynamed the Republic of Tapuw...

A: Q1. Gross Domestic Expenditure (GDE) is the sum of consumption (C), investment (I), and government e...

Q: The following information is provided about an open economy with a government. Use the information t...

A: GDP refers to the final value of all goods(g) and services(s) produced within the domestic-boundarie...

Q: The following are excerpts from the article: Stirring the Pot . $80 Coffee Beans – Yikes! Bangor Tim...

A: Third-wave coffee operates in a monopolistic competition industry. As a result, it practices product...

Q: b. Analyze how much Pakistan’s GDP and each of its components is affected by the following transacti...

A: The GDP calculation is an important aspect of knowing the financial health of the country, GPD inclu...

Q: Please Answer iv) A student living in a university hostel has two options for meals: eating at the d...

A: Since you are asking for the fourth part of the question, then i am assuming that you must have solv...

Q: when the minimum wage is set above the equilibrium market wage, A. there will be a shortage of labor...

A: Equilibrium is achieved in the economy where labour supplied equals labour demand at a certain wage....

Q: Which of the following is a normative statement *       If a sin tax is imposed on ...

A: Normative economics deals with subjective judgements . It tells you how the situation "should be " i...

Q: If  bank A borrows $10 million from bank B, what happens to the reserves in bank A? In the banking s...

A: An asset-liability comparison has to be done to answer this question. Here is an example of inter-ba...

Q: If the average variable cost of producing 5 costumes in Kira’s Costume Shop is $50, and the fixed co...

A: Total cost is the sum of total fixed cost and total variable cost. Total fixed cost is fixed and it ...

Q: Assume Tea brands ChotooChai and BaraChai are competing brands in the market. With arrival of winter...

A: Demand and supply model: Demand and supply is a financial aspect, the connection between the amount ...

Q: USING ECONOMIC REASONIGS WOULD THE IMPOSITION OF A PRICE CELING BE AN EFFECTIVE SOLUTION TO THE GOUG...

A: Price ceiling is a price control measure where the government fixes the maximum price for a commodit...

Q: If lead time is constant and demand is variable, in a re-order point model the safety stock is equal...

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,...

Q: Assume GDP is currently $10,850 billion per year and the quantity of money is $833 billion. The nati...

A: Given  GDP = $10,850 billion  Quantity of Money = $833   Per Day Expenditure of the economy = GDP 36...

Q: Price per Ice-cream (Rs.) Demand for Ice cream (Qd) Supply for Ice cream (Qs)140 500 1500120 750 120...

A: As per guidelines, we will answer the first three subpart question.

Q: Before June 2020, the labor market in Pakistan was at equilibrium with an equilibrium wage (WE) of R...

A: Minimum wage is the lowest wage that employers must offer. It is like a price control.

Q: The two primary reasons to adopt measures to restrict trade are that   a. they help keep real w...

A: International trade is the process of exchange of goods and services between different countries. He...

Q: Explain, with the aid of a graph, the effect on the rand/dollar exchange rate and the equilibrium qu...

A: Answer: Introduction: Exchange rate: It refers to the price of one currency in terms of another curr...

Q: Unendo, is a large computer game manufacturer. CALL'DUTY WWII They have estimated that the demand fu...

A: Profit maximizing firm produces output at the point where the marginal cost is equal to marginal rev...

Q: The marketing department of an organization is responsible for facilitating Select one: O a. the coo...

A: Marketing department- It promotes business and drives sales.