Why do bars offer free peanuts?

Q: Why do economists prefer to use real gross domestic product (RGDP) instead of nominal gross domestic…

A: The nominal GDP refers to the final goods and services produced at market price within the domestic…

Q: Choice Matrix:       Greater than 0 Less than 0 A The price elasticity of supply.     B The…

A: Elasticity is calculated as the ratio of percentage change in quantity supplied to the percentage…

Q: Suppose that Michelle buys a cappuccino from Paul's Cafe and Bakery for $4.25. Michelle was willing…

A: Consumer surplus is a measure of excess benefit to the buyer.   CS=Willingness to pay - Actual price…

Q: he cross-price elasticity of demand for peanut butter with respect to the price of jelly is -0.3. If…

A: Given Cross PED = -0.3 Decline in price of jelly = 15 %

Q: Industry Total nonfarm payroll employment Manufacturing Construction Trade, transportation, and…

A: It is discernible by: Total non farm employment in Oct 2017 = 147,234 Total non farm employment in…

Q: If New Zealand's inflation rate is 25% inflation vs 15% inflation in our trading partners and the…

A: The real exchange rate is an inflation-adjusted exchange rate. As per PPP theory Real exchange…

Q: 3. Consider a firm that produces a single output Q using two inputs, q1 and 92. The production…

A: Production function Q = q11/2 q21/2Input and output pricesP(q1) = p1P(q2) = p2 P(Q) = 1

Q: Use either a shift in demand of supply to GRAPHICALLY represent each of the following situations.…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Amazon.com, the online bookseller, wants to increase its total revenue. One strategy is to offer a…

A: Price Elasticity of demand refers to the ratio of %change in quantity demanded and % change in…

Q: Apply the concepts of supply and demand 'shifters' to a life experience. Pick a good or service…

A: The supply and demand for a good together determines its price. And both the market demand and…

Q: What information is given by the CPI?   The CPI tells us _______.     A. the price level in a given…

A: The general rise in the price of goods and services during a period of time with the fall in the…

Q: 1 hp = 0.746 kW

A: Given cost of electricity = 0.10 $ per KWH 1 hp = 0.746 kw Total motor Hp = 85

Q: What is the amount of deadweight loss created by this policy? Is this policy a good idea?

A: Here, As we know that tax imposed on seller which led to decrease the supply and curve new curve…

Q: Lance lives in Williston, North Dakota. The firms in town, such as the Walmart, pay teenagers…

A: Here we will use the labor -leisure model.  Total income she could have (at the minimum wage) : Y* +…

Q: Venus Flycatcher Company sells exotic plants and is trying to decide which of two hybrid plants to…

A: We must determine the highest price customers would pay for an extremely accurate demand forecast…

Q: Suppose Jane is always willing to give up one apple fo Then, the MRS for apples to oranges is The…

A: Marginal rate is substitution refers to the rate at which a consumer is willing to give up good 2 in…

Q: A piece of construction equipment will cost $6,000 new and will have an expected life of 8 years,…

A: Equipment Cost = 6,000 Other Cost 1st Year and 2nd Year each = 1500 3nd Year = 1700 4th Year = 1900…

Q: Do these three measures avoid the sources of bias in the CPI?   These measures _______.     A. avoid…

A: The change in the prices of a basket of goods and services that are frequently purchased by…

Q: What is the World Trade Organization? What is its role in the world economy?

A: International trade is an example of economic linkage because it is a method of economic interaction…

Q: 10 basic goods and services needed by people

A: Goods:- It  can be anything from  supplies,merchandise, raw materials to already finished products.…

Q: Olivia is a student at Boston University. She has 5 hours to study for 2 exams. The tables below…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Depending on where a corporation conducts business, the way that corporation is designated changes.…

A: A company's stockholders do not have any legal claim over it. Businesses and persons have many of…

Q: Question 2: Represent the preferences of the following people graphically: Case 1: Mary likes milk…

A: Preferences reference the consumer's willingness to consume 2 or more goods. It can be represented…

Q: Is outsourcing good or bad?

A: Contracting out business operations and processes to outside vendors is known as outsourcing. The…

Q: Hanna Corporation markets a compact microwave oven. In 2010 they sold 23,000 units at $375 each. Per…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: The table provides information about the money wage rate and the CPI in the United States for the…

A: Nominal wage rate is that rate of pay employees are compensated. Nominal wage rate is not take…

Q: Show on a supply and demand graph the impact of the following events on the equilibrium price and…

A: Market demand for a commodity can change as a result of a change in consumers income, their tastes…

Q: Which is updated more frequently, the CPI market basket, the Consumer Expenditure Suvey, or the…

A: Inflation refers to the increase in the general price level. The primary role of the central bank is…

Q: Kris' Kabobs: Kris decides to drop the price of his famous Kabobs from $3 to $2. Last week at $3 he…

A: Meaning of Price Elasticity of Demand: The price elasticity of demand refers to the situation…

Q: 11.

A: We know that Market demand for a commodity can change as a result of a change in consumers income,…

Q: After graduating high school, Nicole chose to go to college, while Pedro chose to work full time.…

A: Opportunity cost  The possible benefits that a person, investor, or business forgo while choosing…

Q: Economic models A are complicated because human behavior is complicated. B are simplifications of…

A: When talking about economic models, it can be said that these models are developed using…

Q: You live in an area where there is a possibility of a massive earthquake, so consider purchasing…

A: The probability that an earthquake in a year (q) = 0.001 Probability of not having an earthquake…

Q: The following table shows two demand schedules for a given style of men's shoe-that is, how many…

A:

Q: It is not possible for the total value of production to increase unless the money supply also…

A: The GDP is the production of the goods and services during an accounting year. the GDP is expressed…

Q: Suppose Andy has a utility function of U (x, y) = 2x + y and a wealth level of 12. The price of good…

A: Given  Andy's utility function is given by U(X,Y)=2X+Y           ..... (1) Andy's income M=12 The…

Q: A depositor puts $40,000 in a savings account that pays 10% interest, compounded semiannually. Equal…

A: Principal amount(P)=$40,000 Interest (i) compound semi-annually i=10/2=5% or 0.05

Q: 2. Consider a Keynesian IS-LM model for national income: Y=C(Y-T)+1(r) +G L (r,Y)= M* Given: IS:…

A: The IS-LM model, which means "investment-savings" (IS) and "liquidity preference-money supply" (LM)…

Q: Question 5 Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can…

A: Since you have posted multiple subparts, as per the guidelines we can solve only first 3 subparts.

Q: What are the commonalities and differences between regression and correlation

A: Variable: A variable is a characteristic of an observed item that can take multiple values.  ​From a…

Q: List of the Six Macroenvironment Forces. Explain how you, as a business owner, adapt to each of the…

A: Microenvironment  The environment that directly affects your business is known as the…

Q: a company will be paying off a loan witj annual payments of $6000 for 8 years assuming 5% annual…

A: Annual Payments = 6000 Years of payment = 8  Interest rate = 5% Formula to be used - FW = PMT(F/A ,…

Q: Indicate price elasticities of demand for the points in the following graph:

A: Price elasticity of demand refers to the degree of responsiveness of quantity demanded of a…

Q: If marginal benefit is equal to marginal cost, then the: A. sum of producer surplus and consumer…

A: Marginal benefit is the additional benefit earned from selling an additional unit. Marginal cost is…

Q: 4 Your first job gives you an incentive to stay for a minimum of 3 years. At the end of 3 years, the…

A: Given  Amount of bonus after three years =$15000 Rate of interest =6% per year  We have to calculate…

Q: what is meant by inflation? If you see a rise in the price of gasoline, is that inflation? Is that…

A: Inflation can be caused due to increase in the demand or increase in the cost of production. When…

Q: What is the International Monetary Fund? Discuss its relationship with the World Bank.

A: Introduction International monetary fund was established in 1946. It promotes international monetary…

Q: The Impact of International Monetary Fund (IMF) Structural Adjustment Policies (SAP) on the…

A: part 1.    "The structural adjustment policies of the International Monetary Fund" (IMF) have had a…

Q: 8. Risk and return Suppose Frances is choosing how to allocate her portfolio between two asset…

A: An investment is an asset or item obtained determined to create income or appreciation. Appreciation…

Q: Suppose demand for good X is given by the following equation: Qx= 12-2Px + 5Py Qx represents the…

A: The demand curve shows the relationship between price and quantity demanded. The rise in price leads…