Q: Ella Co. uses a predetermined overhead rate based on direct labor-hours to apply manufacturing…
A: Given; Estimated manufacturing overhead cost= P300,000 Estimated activity level of direct labor…
Q: Which of the following highly industrialized countries does not have national health care…
A: National health care coverage means providing all the people with health coverage and in this…
Q: Which of the following is the total demand for goods? A. Y B. C+I+G C. C+I+G-T D. G-T
A: In an economy, total demand refers to the amount of goods and services required by the people of a…
Q: The figure shows the production possibilities frontier for a country. If the economy is operating at…
A: At point B, the country is producing 3 million of gallons milk and 3 million gallons of icecrease.…
Q: The graph shows the market for Mickey's Mountain Bikes. 1. What is the profit-maximizing output per…
A: MR and AR curve is downward sloping curve which means more of good only can be sold with low price .…
Q: Which term is used to describe the net value of one's accumulated assets? O a) income O b) capital…
A: Accumulated assets or asset accumulation is building wealth over time by earning, saving and…
Q: Using the following data, determine: National Income (GDP) 1,275 billion…
A: At equilibrium Y = C + I + G + NX Where NX is net export , NX = X - M I.e. export minus import
Q: 2. In 1964 the United States banned television advertising of cigarettes. Is it possible that the…
A: Total revenue refers to the sum total of all the prices of the goods and services that a firm sells…
Q: At a recent boat show, Nautica Bank was offering add-on interest installment boat loans for up to 5…
A:
Q: An increase in the workforce can be expected to O a) increase the price level. b) increase long-run…
A: In Economics, workforce can also be known as the labour force which includes all the employed and…
Q: he difference between economic profit and accounting profit is that economic profit is calculated…
A: here we find the whether the given statement is true or false as follow;
Q: Consider the following data. 14 21 23 21 16 19 24 22 25 16 16 24 25 19 16 19 18 19 21 23 20 12 16 20…
A: A frequency distribution is basically a graphical or tabular depiction of the number of observations…
Q: One difference between the Great Recession and the Great Depression is that a) there was significant…
A: The situation which depicts a downward trend in the business cycle that is being depicted by a…
Q: Using the table find the following. 1. Elixir’s profit maximizing output ___bottles 2. Profit…
A: Profit maximizing condition is that condition where Marginal revenue is equal to marginal cost.
Q: se the graph to answer the following question: Explain why Balance does or does not have excess…
A: Excess capacity is a situation when the firm is producing output that is less than the minimum…
Q: 2.- Recall the model of an investor whose investment income is taxed at rate t. The investor has §w…
A: Contingent simply refers to the random plan/event. Hence, contingent consumption means consumption…
Q: All of the following are substitutes except a. clothing and motor vehicles. b. traveling by…
A: According to the Bartleby guideline, we can solve only one question per session, and above you wrote…
Q: 15 10 suppty demand ey with ta How much revenue will the government gain if they put a $6 tax on…
A: Revenue gains generated by the government = Tax ×Quantity Now, the demand curve is in red line and…
Q: Suppose the Machine rental rate decreases from $20 per hour to $10 per hour, while the rental rate…
A:
Q: 1. When interest rate i increases, equilibrium output Y will _____. A. Increase B. Decrease C.…
A: Whenever interest rates are raised, investment will be discouraged due to the greater opportunity…
Q: Keynesian economists believe government intervention in the economy is necessary because a) supply…
A: Keynesians accept that buyer demand is the essential main impetus in an economy. Accordingly, the…
Q: Keynesian economists believe that prolonged recessions are possible because Oa) prices are flexible…
A: Correct Answer (e) Prices are sticky and do not adjust quickly during economic downturns Because…
Q: Suppose, in the Solow growth model, that learn- ing by doing is captured as a cost of installing new…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: If the real exchange rate for the dollar is above the equilibrium level, the quantity of dollars…
A: The economics as a study is based upon the idea that the resources which are present with the…
Q: I need assisstance with A,B, and C pleas
A: Fixed cost remains the same throuhgtout output and is 100 at output of zero ATC = TC / output AVC =…
Q: Which of the following economic statements would a Keynesian economist tend to support? Oa) The…
A: Keynesian economics is a macroeconomic economic theory that examines the overall amount of spending…
Q: Engineering graduates earn $880,000 more than the average Liberal Arts BA holder in a career. Assume…
A: We have to find annual value (A) from the future value ($880,000).
Q: In an island economy, farmers grow 120 potato, pay 40 in tax, eat 30, plant 50 in the yard. a.…
A: farmers grow 120 potatoes, pay 40 in tax, eat 30, and plant 50 in the yard.
Q: Suppose you face a spot exchange rate of ¥110/$ and a 6-month forward rate of ¥95/$ and you wish to…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: If we used the Maſket Demand Curve to estimate Consumer Surplus instead of the Marginal…
A: Consumer surplus:- A economic assessment of customer benefits is referred to as "consumer surplus."…
Q: Refer to the following graph to answer the next five questions. Price lavel (P) LRAS SRAS2 SRAS, AD…
A: If the economy is currently at point B, then in the long run, we can expect we will move to point C…
Q: You are considering developing an 18-hole championship golf course that requires an investment of…
A: Initial Investment = 18,000,000 Maintenance Cost = 640, 000 annually (Increasing by 55000…
Q: There is a road between the suburbs and downtown. The road is congested at rush hour. If 172 people…
A: (4) The information given is as follows:- Time taken for the trip is given to be 38 minutes Value…
Q: What happens to aggregate demand (AD) if the price level rises? O a) The quantity of AD increases. O…
A: Aggregate demand refers demand of all the goods and services by the consumers in the society at…
Q: If the minimum wage is set above the equilibrium wage, the quantity of labor supplied by workers is…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Aggregate supply describes the O a) relationship between suppliers' spending and output. O b)…
A: The aggregate supply curve depicts the relationship between the producer's willingness to supply…
Q: The U.S. government contributed to the severity of the Great Depression by O a) increasing both the…
A: The actions of The US government and the Federal Reserve contributed to the Great Depression. The…
Q: Suppose the Machine rental rate decreases from $20 per hour to $10 per hour, while the rental rate…
A: Isoclines are curves on an isoquant map that pass through points with identical marginal rates of…
Q: During the Great Recession, aggregate demand supply ---- and long-run aggregate O a) increased;…
A: Great recession happened during 2008 -09 where US subprime industries with large decline in…
Q: Cost of a machinery is Rp 10 Billion and the economic life of the machinery is 20 year. Assuming the…
A: Cost of machine = 10 billion Interest rate = 12% Economic Life = 20 years We find the annual worth…
Q: (1) What are the two main reasons for inconsistent OLS standard errors (described in the textbook)?…
A: Ordinary least squares, or OLS, in statistics, refers to the type of linear least square method used…
Q: [16] Operating in the short run with one fixed input and one variable input, the marginal product of…
A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…
Q: What is economics
A: Economics is divided into two main scopes which are micro and macroeconomics. Microeconomics deals…
Q: Alex uses wool (K) and labour (L) to produce t-shirts (q). The production function is: q = min{L/4,…
A: q = min{L/4, K0.8 }. Brian uses 1 kg of wool and 3 hours of labor to produce 1 t-shirt
Q: 1) The Economy cannot be considered fully employed unless the measured unemployment rate is below…
A: Full employment is defined as a situation in which all people who are available and looking for work…
Q: Subsidies are A. all of the other answers. B. rewards for those receiving a positive…
A: Subsidies are paid by the government to owners of goods and services for various reasons. Sometimes…
Q: economists were laissez-faire in their policy recommendations, having faith that the economy would…
A: Answer -
Q: Consider a competitive industry. Every firm in this industry has a total cost function C (y) = y² +…
A: C(y) = y2 + 1 MC = 2y and, D(p) = 36 - 2y TR = p x y = (36 - 2y)y = 36y - 2y2 MR = 36 -…
Q: Suppose that society decided to reduce consumption and increase investment. i. How would this…
A: Suppose that society decided to reduce consumption and increase investment.i. How would this change…
Q: Compute the total cost per year of the following pair of expenses. Then complete the sentence: On an…
A: First set of expenses as a percentage of the second set of expenses = [First set of expenses per…
With reference to the table given above, calculate:
iii.
iv. Personal Income
v. Disposable Income
Step by step
Solved in 4 steps
- National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal IncomeQuestion: What is the aggregate of the gross balances of primary income of all resident institutional units knows as?[A] Gross domestic Product[B] Gross national product[C] Gross National income[D] Net national productPlease Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave 13 dislikes for you and more from my friends accounts also.Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600
- The data below shows the components of country A’s national income in 2015. S/NO ITEMS IN MILLION GHȼ I Net Domestic Capital Formation 500 II Compensation of Employees 1850 III Depreciation 100 IV Government Final Consumption Expenditure 1100 V Private Final Consumption Expenditure 2600 VI Rent 500 VII Dividend 200 VIII Interest 650 IX Net Export -100 X Profit 1100 XI Net Factor Income From Abroad -50 XII Indirect Tax 250 XIII Subsidies 200 Using the expenditure and the income based approaches, calculate Gross domestic product at market price Gross national product at market price Gross national product and Net national product at factor costUse the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:COMPONENTR millionsConsumption expenditure (C) Investment (I)Government spending (G) Exports (X)Imports (Z)DepreciationForeign payment to the rest of the worldForeign payment from the rest of the worldShow all calculations and formulae.9 000 6 500 7 000 1 800 2 400 700 300250 Compute the value for the country’s GDP (Gross Domestic Product) at market price. Determine the value of the country’s NNI (Net National Income) at market price.If it is predicted that the GDP will increase to 22 000 in 2020, calculate the growth rate between 2019 and 2020.Q.7.2.5The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth.Income aproach Table 2 Items RM (Millions) Wages and salary 1,050 Rent 850 Interest 880 Distributed Profit 1,300 Proprietor’s income 750 Depreciation 200 Undistributed profit 200 Transfer payment 75 Social security contribution 90 Personal Income Tax 110 Net factor income earned from abroad 89 Based on the above data, calculate: Gross Domestic Income Gross National Income National Income
- 1.20 A nation’s gross domestic product is…a) C + I + G + (X-M)b) The total amount of money in circulationc) The total market value of all the intermediate goods and servicesd) The sum of value added at some stages of the production processUsing the following information, calculate Gross National Disposable Income: Gross National Income = 1500 Tax on income from abroad = 100 Current Transfers = 200Depreciation 200 Exports 150 public transfer 200 Gross domestic private investment 300 corporate income tax 100 factor receipts from abroad 400 gevenment expenditure on goods and services 250 interest income 800 compensation of employees 2600 net interest on government debit 50 indirect business taxes 100 factor payments to abroad 200 imports 200 proprietors incom(profits) 700 retained corporate profit 200 personal consumption expenditure 4500 personal taxes 100 social security contribution 50 rental income 600. From the above data find personale disposable income.
- Define the following terms showing how they are calculated: Gross Domestic Product Gross Domestic Income Operating Surplus/mixed-income Disposable Income Gross Gross and net savingsQuestion: What is the aggregate of the gross balances of primary income of all resident institutional units knows as?[A] Gross domestic Product[B] Gross national product[C] Gross National income[D] Net national productPlease Don't use chatgpt or other ai tool.Suppose the data BELOW is for a given year from the annual Economic Report of the President. Calculate GDP using the expenditure approach (Amount in billions of dollars): Corporate profits: $ 305Depreciation: $ 479Gross private domestic investment: $716Personal taxes: $ 565Personal saving: $120Government spending: 924Imports: $ 547Exports: $ 427Personal consumption expenditures: $ 2,966Indirect business taxes: $ 370Contributions for Social Security (FICA): $ 394Transfer payments and other income: $ 967
