why is  a large GDP  a good thing for the economy and sosociety?  what would a large GDP mean to an economy, or a society?

Q: If firms in the market are producing output but are currently making economic losses, P illustrates…

A: In economics, the marginal cost of production is the change in total production cost that comes from…

Q: According to Degree of Integration,  give the definition of Common Market and Examples

A: International trade takes place when different countries join hands and agree to trade goods and…

Q: The Good Samaritan Game Unfortunately a man had an accident and somebody has to help him. The per-…

A: given information There are people who observes an accident If helps everyone gets 1 pay off and if…

Q: Insurance: An insurance company sells a l-year term life insurance policy to an 84-year-old man. The…

A: Given  Insurance premium =$1600 The probability that the 84-year old man will be alive 1 year later…

Q: For a single-price monopoly, marginal revenue is when demand is elastic and is when demand is…

A: A single price monopoly firm produces its profit-maximizing output at the point where MR= MC. When…

Q: Which of the following will decrease potential real GDP? Select one: O a. A decrease in the natural…

A: Real gross domestic product (real GDP) is an inflation-adjusted measure that reflects the value of…

Q: What is a unitary elastic supply?

A: The markets are the place where the buyers and the sellers of various goods and services and other…

Q: Dr. Khan starts his own dental practice after quitting his $150,000 job at The Mall Dental Clinic.…

A: Accounting Profit=Total Revenue-Explicit costs.

Q: Emily owns a small dress factory. She notices that, when she added her brother to the payroll, the…

A: The measure that depicts the total output amount that a firm could be a product with the amount of…

Q: If an investment has a nominal return of 3.8% per year, while the inflation is expected to be  3.6%…

A: Real return is the interest rate adjusted for inflation. Nominal return does not account for price…

Q: How does globalization directly/indirectly affect the GDP of a country

A: The measure that depicts the value of goods and services being produced in a country during a…

Q: Price (dollars per unit) 600 400 AC = MC De mand Marginal revenue 200 400 Computers (units per day)…

A: Monopoly is a single seller in the market with no close substitutes.

Q: From the data given below, using the simple average of price relative comput: (i) Index number for…

A: [a]Index number for 1998 when 1995 is base  Items Price Price Relative prices         Rice 5…

Q: _______ When the level of prices in an economy rise, it’scalleda. prosperity.b. recession.c.…

A: The price level is the average of current prices over the entire spectrum of goods and services…

Q: As a country begins to liberalize its capital account, what would you expect to happen to the…

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

Q: The present worth of all the cashflows of handmade earthen pots are shown until the end of year 8 is…

A: In this scenario, we have to find future value from present value.

Q: Imagine that in the year 2035, Japan’s economy shrinks significantly, causing a decrease in…

A: The AD/AS model illustrates the Keynesian model of the business cycle. It is possible to forecast…

Q: at happens to the firm's marğinal revenue as it sėlls additional unit =ct one: a. Marginal revenue…

A: A monopolist can't generally discriminate impeccably between purchasers, since it doesn't have a…

Q: What are the main factors that made Xiaomi a leading smartphone company in China and What do…

A: Xiaomi is a leading smartphone manufacturing company, which is a China based company. Its main…

Q: How does capitalism differ from socialism and communism?

A: Socialism is a social, political, and economic philosophy that encompasses a variety of economic and…

Q: A local college is deciding whether to conduct a campus beautification initiative that would involve…

A: In order to decide whether to undertake a project or not, the benefit and costs of the project…

Q: 1) Assume an economy without population growth or technological progress. Their production function…

A:

Q: What are the major industries in Canada

A: Canada has sizeable industries including automobile, aircraft, energy, power, and technological…

Q: ou run an oil company that wants to extract an oil reserve. The total stock of oil in the reserve is…

A: Given information Total stock of oil=600 barrels Time period = t1 and t2 Quantity= q1+q2=600 Demand…

Q: 3) A certain warehouse is worth P700,000. The average value of the merchandise in the warehouse is…

A: Cost of insurance Annually : Warehouse = 1% of 700,000 = 7000 Merchandise = 0.9% of 600,000 = 5400…

Q: Explain what the spending multiplier is. Describe the actions the government could take, using…

A: Spending measures the change in equilibrium GDP due to change in government spending.  Spending…

Q: Consider the following types of firms. For each one, the long-run average cost curve eventually…

A: Diseconomies of scale occur when the per-unit cost of producing goods or services increases with the…

Q: A circus is scheduled to appear in a city on a given date. The profits obtained are heavily…

A: Decision tree is considered to be one of the most useful equipment for classifying and predicting.…

Q: Consider the following game: Steffi K 14, 6 7,6 8, 7 Jim 5,8 8, 8 13, 6 M 1, 5 8, -6 6, 6 What is…

A: Best response means maximizing payoff no matter what the other payoffs. It means the best strategy…

Q: Tom has the following utility function: U = FC2 where F is food and C is clothing. Show that…

A: 1. U = FC2 1. Marginal Rate of Substitution (MRS) is the rate at which a good is sacrificed to get…

Q: Marginal Cost RSJI Avorage Tal Cost ROQ,I Demand RULI Marginal Revenue 28. 9,0,0, 0, QUANTITY The…

A: The economic profit could be measured by the difference between the revenue generated through the…

Q: According to your text , if interest rates are allowed to vary more from year to year then________…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Od. $20 16. C. $16 6$ 9 0 181 ATC The profit-maximizing price for Grey's electrical service, a…

A: Monopoly is a single seller in the market selling unique good.

Q: Set up the objective function and the constraints, but do not solve. Wison Electronics produces a…

A: The correct answer is given in the second step.

Q: Assume that Lucky Bank is required to hold a 10% deposits as reserves, and there is a $3000 increase…

A: The inverse of the reserve requirement, the money multiplier is the quantity by which deposits are…

Q: A firm considering the installation of an automatic data processing unit to handle some of its…

A: A amount of money today is worth more than a sum of money in the future, according to the concept of…

Q: Assume you are an engineer working for a chemical production company. You are on the technical team…

A: A production company, house, studio, or team is a corporation that provides the physical…

Q: When the US Dollar is strong, this means that while US Exporters the US consumers a) find it…

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: Which of the following is correct as an interpretation of the Keynesian consumption function? None…

A: Keynes Consumption function: C = c + MPC * Yd => C = c + MPC * (Y-T) Where C -> consumption c…

Q: Suppose that changes in the bank regulations expand the availability of credit cards so that people…

A: [a] As given, holding cash is not required anymore which means money is less demanded by the people…

Q: 33 As a country begins to liberalize its capital account, what would you expect to happen to the…

A: When a country open-up its economy to make economic transactions with the rest of the world, it will…

Q: Price (Dollars per Garment) 7 D E 5 AC=MC Demand Marginal Revenue 10 20 Garments cleaned per year…

A: In perfect competition there are large number of firms and in monopolistic market there is only one…

Q: Describe the impact of an 300Billion Dollar increase in government spending when the marginal…

A: Government spending is the tool of fiscal policy is used to stabilize the economy.  Government…

Q: 11 b. Assume that the market price in the short run is P = $11, Giyen the way YOU drew With the…

A: Long run average cost, or LRAC, is referred to the cost for an unit of output when all the factors…

Q: Maintenance cost for a small bridge with an expected 60-year life are estimated to be $1,000 each…

A: Equivalent annual cost (EAC) is the annual cost of purchasing, working, and keeping a resource over…

Q: Should this be collected by retailers when electronic products are sold to consumers, or should it…

A: Rate or return or ROR refers to the actual profit or loss incurred upon an investment for a specific…

Q: Explain how the equilibrium, or market, price of a product is determined.

A: The equilibrium exists at a point where the demand curve intersects supply curve. At the equilibrium…

Q: 1. These are factors affecting the supply to increase and decrease, except one. A. Technology…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: hand written asap

A: Cost is the expenditure that is incurred in the production of goods and services in an economy. The…

Q: You are the manager of medium-sized company that deals in production of make-ups in Ghana. Suppose…

A: There are various other factors that lead to shift in demand and supply curve . Here tax and price…