Years ago, Ricky paid $500 for CDs to put together a collection. Today, he sold his CDs for $200. How does this sale affect current GDP?

Q: Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily f...

A: The marginal product is characterized as the additional result that outcomes from adding one unit of...

Q: 2. Two individuals have the same income ($100,000), but different potential healthcare expenses. Per...

A:

Q: If the price of cattle skin falls what will happen to the equilibrium price and equilibrium quantity...

A: Equilibrium occurs at such a price where quantity demanded equals quantity supplied. 

Q: 4. Chilli   Chilli has been developing a product, the Chillalarm, which can be fitted to freezers ...

A: We assume the company makes all sell in the beginning of the year. So the discounting starts from th...

Q: What is the most important decision a perfectly competitive firm must make to maximize profit? what ...

A: In a perfectly competitive market, there are many buyers and sellers. The good produced is homogeneo...

Q: Choose the letter/s of the correct answer/s. How are you going to maximize a profit if the price is...

A: Profit is the excess of revenue(TR) over costs(TC).

Q: 1) Suppose that inflation is currently 7% and inflationary expectations are also 7%. Assume that int...

A: Basics:- Actual inflation = Expected inflation + Demand pull inflation + Cost (Supply) pull inflatio...

Q: The UK govenment has decided that the high consumption of alcohol is now becoming a global threat to...

A: Let suppose the alcohol market in UK is in equilibrium as shown in the below diagram. SS is the supp...

Q: A manufacturer with exclusive rights to a new industrial machine is planning to sell a limited numbe...

A: Given  Domestic demand curve of machine: pD=320-x4         ... (1) Foreign demand equation for machi...

Q: Which of the following statements is true? According to Okun's law: Select one or more: O a. unemplo...

A: Okun's Law: Okun's Law explains the relationship between output growth and change in the unemploymen...

Q: The income elasticity of Abigail’s demand for CDs is 0.75. For Abigail Cds are a normal good or an i...

A: In economics, income elasticity of demand is used to explore the sensitivity of the consumer's deman...

Q: a) What type of gap exists in this economy, and how big is that gap? (Select one) $ 0 b) By how much...

A: ANSWER   Planned Aggregate Expenditures

Q: Banks may money out of other people's money. True False

A: The banks can generate money from people money and this can be done in many ways, one way is to use ...

Q: 9. Let's suppose there is a cash flow with equal payments (receipts) worth 'C' from year 0 to 5 (6 e...

A: Given the information: Interest rate, r = 10% Number of payments, n = 6 Annual amount = C

Q: utomotive industry: in this industry, there are a few sellers that tend to dominate the market. O Pe...

A: 1 Oligopoly market if there is a few sellers dominating the market, it is refer to the Oligopoly mar...

Q: The Development is both Right and Privilege?

A: In Economics, development is the process of creating wealth for the benefit of the community. It's m...

Q: Find the value of Y. Quantity Total Cost Fixed Cost Variable Cost Marginal Cost $1,000| $1,000 $5,00...

A: Fixed cost (FC): - it is the cost incurred on the fixed capital assets like land, building, machiner...

Q: The following are the advantages of financial intermediaries, except:  A. Provide guaranteed returns...

A: Financial Intermediaries:- Financial intermediaries function as go-betweens for financial transactio...

Q: Consider a Keynesian economy with no taxes and no international trade. • The economy initially has a...

A: Here,given information is: Initial real GDP: $500 Change in consumption by Andy: $70 (spent on lunc...

Q: QUESTION 11 Which of the following statements is false? OA A change in the supply of an item will ca...

A: The curve that depicts various quantities of goods and services being supplied at various levels of ...

Q: price quantity demanded quantity supplied 300 60  30 400 55 40 500 50 50 600 45 60 700 40 70 800 35 ...

A: The type of price control being imposed by the government and is the highest point at which services...

Q: Are there any circumstances under which society could exist without law?

A: ANSWER   A Society rarely survives without some formed code of conduct. Thus it cannot exist without...

Q: QUESTION 4 Use the following supply and demand schedules for skate boards in table 18.1, to answer t...

A: The demand and supply curves intersect at a level of price giving the market equilibrium point. At t...

Q: Propaganda Techniques: Search for each propaganda technigues; Bandwagon, Testimonials, Transfer, Emo...

A: Propaganda techniques are the basic techniques that helps in influence the common people of the comm...

Q: The fluctuations in the income level that result from changes in investment spending     depend onl...

A: MPC is the marginal propensity to consume which is the ratio of percentage of change consumption spe...

Q: Compare and contrast Classical, Keynesian and Monetarists approaches to monetary policy.

A: To compare classical, Keynesian and monetarists approach to monetary policy. 

Q: Price £/unit MC AC D Q2 Qs Q1 Quantity/ week Figure 8 Demand and cost curves for a price-taker firm ...

A: A price-taker is a person or business that is forced to accept market prices because it lacks the ma...

Q: machine is bought P420,000 with an economic life of 6 years and a salvage value of P50,000.The cost ...

A: To find : Deprecation. 

Q: 5. You are given the following information about an economy: Smillions GDP at Market Prices 1,669.4 ...

A: Given: GDP at Market Prices Imports=$1669.4 Imports=$290.5 Gross Domestic Capital Formation=$48.7 In...

Q: Please for the following problems: a.) Find the Absolute advantage b.) Find OC/unit per unit c.) Fin...

A: As per the guidelines solution is provided for first three sub-parts. a) Japan has an absolute advan...

Q: 17. When a market is in equilibrium A. O No shortage exists B. O Quantity demanded equals quantity s...

A: Equilibrium means a state of rest. Alternatively, it means a position from where no one wants to mov...

Q: Consider a closed economy, where wages are sticky in the short run. The consumption function is C = ...

A: Since you have asked a multi-part question and according to the policy, we can only solve the first ...

Q: The city council of Morristown is considering the purchase of one new fire truck The options are TRU...

A: Cost is the expenditure that is made in order to convert the raw material into finished goods. It me...

Q: If the marginal propensity to consume increases, we should expect that

A: GIVEN   If the marginal propensity to consume increases, we should expect that Is

Q: Consider a multi-product monopolist that produces two goods q1 = Q1 (P1, P2) Bonus question and q2 =...

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

Q: 7. A common misconception is that trade takes place between two people because: A. they are willing...

A: The United States has the largest economy in the world, as well as the greatest exporter and importe...

Q: If a firm's revenues do not cover its average variable costs, then that firm has reached its price t...

A: The firm earns positive profit if revenues exceed total cost. Firm incurs loss if revenue is less th...

Q: If two goods were perfect substitutes of each other, it necessarily follows that

A: To find : what happens when two goods are perfect substitutes. 

Q: man pays his debt in the following manner: P1000 after 1 yr., and decreases P78 every year up to 6th...

A: Given cash flow is Rate of interest =15% compounded annually. G=78

Q: Consider the stage game below. Can we get (A,Y) played each date in an infinitely repeated game? Exp...

A: The handwritten solution is attached below:

Q: In a Cournot duopoly model, the market demand curve is given by P = 100 - yI -y where y, is the amou...

A: Market Demand : P=100-y1-y2 Cost of firm 1: 75+8y1 Cost of firm 2: 100+12y2   Firm1 TR1=Py1 TR1=100y...

Q: 4. Suppose that a decent breakfast at the SCSU cafeteria costs $4. You always eat breakfast at SCSU,...

A:

Q: Define what we mean by the labor force participation rate and explain its cyclical behavior?

A: In an economy, labor force refers to the sum of employed and unemployed individuals.

Q: Problem 6 Consider the following diagram that shows the effects of a decrease in the price of beer o...

A: Since you have asked a multi-part question and according to the policy we can only solve the first 3...

Q: Which of the following statements is true: Real GDP equals nominal GDP multiplied by the GDP deflato...

A: GDP includes the value of goods and services that are produced within the economy at current year ma...

Q: How might a rapid rise in inflation harm you?  How might a rapid rise in inflation help you?  In ans...

A: Inflation refers to a rise in the prices of goods and services in an economy during a year. This lea...

Q: The aim of this question is to derive the sufficient statiscs formula for the efficiency cost of a t...

A:

Q: A celebrity declares that drinking three coffees in the morning gives him the needed to do any job b...

A: There are various determinants that affect the demand and supply curve of a good

Q: If suddenly remittance drops 10% annually due to Covid and every other thing remain constant then wh...

A: Exchange rate- The exchange tells us about the worth of the currency of one country in comparison to...

Q: In 5 years, P 180,000 is needed for a building renovation. In order to generate this amount, a sinki...

A: Answer: (d) P39,195