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- Q: Describe briefly: What is "value" for economists?Assume money supply increases at rate z. Explain what seigniorage is. Use formulas. What are the factors that can increase the seigniorage?a. What are reasons why an increase in income may lead to a desire for more children? b. What are reasons why an increase in income may lead to a desire for fewer children? c. Empirically, what relationship do we observe between income and number of children?
- 8. What is economic?Economics: Public Economics Question: 1 Refer to Graph 2. Suppose the TANF program is established. What is the individual’s consumption if they spent all of their time in leisure? Do not include a dollar sign when writing your answer. Guess: 10,000 (with margin: 0) Question: 2 Refer to Graph 2. For every dollar earned by the individual below the cutoff (such that they are eligible for TANF), benefits decrease by how much? Do not include a dollar sign when writing your answer. Guess: 0.5 (with margin: 0) Question 3: Which of the following types of balanced budget requirements (BBRs) are least effective in restricting deficits? a. ex post BBRs b. neither ex ante nor ex post BBRs c. both ex ante and ex post BBRs d. ex ante BBRs Thank you for your help and support Academic Agent!1. Classify the following topics as relating to microeconomics or macroeconomics. a. A family’s decision about how much income to save b. The effect of government regulations on auto emissions c. The impact of higher national saving on economic growth d. A firm’s decision about how many workers to hire e. The relationship between the inflation rate and changes in the quantity of money 2. Classify each of the following statements as positive or normative. Explain. a. Society faces a short-run trade-off between inflation and unemployment. b. A reduction in the rate of money growth will reduce the rate of inflation. c. The Federal Reserve should reduce the rate of money growth. d. Society ought to require welfare recipients to look for jobs. e. Lower tax rates encourage more work and more saving
- How can microeconomic theory(or theories) explain the existence of an increase in demand for luxury items among consumers? Precisely explain your answer in your own words. It has to be LESS THAN 400 WORDS.IMPORTANT NOTE: This question does not require a mathematical model for its answer.1. Compare and contrast Neoclassical and Islamic economics views of economists.Give typing answer with explanation and conclusion 3. Economic historian Angus Maddison estimates that real GDP per capita in Western Europe in 1000 AD was $450. Restate this number as GDP per capita per day. (Assume that there are 365 days in 1000 AD. Round to two decimal places.
- Refer to the exhibit ...what does a movement from point G to F means?2. Which of the following is NOT a key principle of economics? Question 2 options: Scarcity Soverginity Efficiency All of the above are key principles of Economics36. Traditional economic analysis explains why people are predictably irrational irrationally unpredictable predictably rational irrationally predictable