What are the two subfields within economics? Which is more likely to be a building block of the other? Why?

Q: this is a true or false question: "If social security payments to retirees increase, AD will increas...

A: Social Security Benefits(SSB) are the benefits which provide some replacement income for disabled in...

Q: A local bagel company plans to keep and maintain its bagel factory, which is estimated to last 25 ye...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Below is a summary of the goods produced by a small economy in 2017: Product Quantity Price per unit...

A: GDP is a macroeconomic measure of the aggregate total production of output in an economy. It can be ...

Q: In Canada, the reference base period for the CPI is 2002. By 2017, prices had risen by 29.9 percent ...

A: CPI reveals the average price of a typical domestic commodity in the economy. It is a tool to gauge ...

Q: Lanni Products is a start-up computer software development firm. It currently owns computer equipmen...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: 22) Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million a...

A: Total cost is the sum of fixed cost as well as the variable cost of goods and services.

Q: Discuss how companies differentiate and position their products for maximum competitive advantage.

A: Competitive advantage refers to the situation of the firms that tend to compete against one another ...

Q: Question: Explain the income approach for calculating GDP and briefly mention all the components of ...

A: There are mainly three methods used to find the GDP of a country. Income method is one among them.

Q: The GDP price index in the United States in 2016 was about 106, and real GDP in 2016 was $17.7 trill...

A: Nominal GDP is the evaluation of current market prices it shows the Monetary value of all the goods ...

Q: Sundresses Price D Quantity

A: Demand represents the volume of goods and services that the consumers are willing to purchase at dif...

Q: 2) Explain the Oman governmental units, business type and fiduciary type with example?

A: Governmental units are described as agencies, board, division, department, political subdivision, mu...

Q: When economic growth occurs, the production possibilities frontier shifts outward but no longer limi...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Table 3.8 gives data on gross domestic product (GDP) for the United States for the years 1959-1997. ...

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

Q: 20) You know that a candy bar costs sixty OMR today.You also know the CPI for 1970 and the CPI for t...

A: CPI = Consumer price index. CPI is used to calculate the inflation rate.

Q: Fill in the blanks with: (a: rising) (b: at a minimum) (c: at a maximum) (d: falling) (e: constant) ...

A: Marginal cost is the measurement of change in the total cost with the increment of one unit of outpu...

Q:

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Microeconomics or macroeconomics

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: “[The Neo-colonial Dependence Model] attributes the existence and continuance ofunderdevelopment pri...

A: During the 1970s, the international dependency theories viewed developing countries as beset by inst...

Q: Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $10 million and ...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: a-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.) Rati...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: What life insurance option has a lower premium, is only life insurance, and purchased for a specific...

A: Life insurance is a contract between an insurance policy holder and an insurer or an assurer, where ...

Q: In his 2020 State of the Nation Address (SONA), president of South Africa humbly noted that. "Even i...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Alex is selfish, Greg is altruistic, and both have the same income level. If income is on the vertic...

A: Both Alex and Greg want to maximize their utility, which in turn, depends on 2 commodities -  money...

Q: What do we mean when we say consumer preferences are complete and transitive?

A: These are two main properties of consumer preference. 

Q: The accompanying table gives cost data for a firm that is selling in a purely competitive market. We...

A: Total cost is the sum of fixed and variable costs. 

Q: What do we mean by corner solutions in consumer theory?

A: Consumer theory is one of the economic theories that provide us with information about the behavior ...

Q: 3. Theo employs labor at a competitive wage (W) of $3 per unit, and he employs capitalat a competiti...

A: The production function is the one which produces goods by employing factors of production especiall...

Q: Mr. Karim is planning to pursue MBA studies. Initial inquiry shows that he will have topay RM 24,000...

A: Explicit costs are costs that are easily observable and borne directly. Implicit costs are costs in ...

Q: Identify each of the following topics as being part of microeconomics or macroeconomics: the degree ...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: 5. Discuss in detail, how to achieve the macroeconomic policy targets.

A: Every country has certain macroeconomic goals. It is the goal of every country to ensure the smooth ...

Q: The president of Toyota's Georgetown plant was quoted as saying, "Demand for high volumes saps your ...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: A firm produces output according to a production function: Q = F(K,L) = min {4K,8L}. a. How much o...

A: Q = min[4K, 8L] a) K = 2 , L = 3 Q = min[4(2), 8(3)] = min[8, 24] Q = 8units  

Q: foreigners. a. 8% With the help of a diagram, identify the effects on consumer surplus, producer sur...

A: To import a good, means a certain good is bought and brought from another country. It comes under in...

Q: If a firms output equals 10, product price equals $5.00, TFC = S8.00, and TVC = $60.00, then the fir...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Beverly has 15 tax accountants on her staff. During the months of February, March, and April, her st...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Identify each of the following topics as being part of microeconomics or macroeconomics: The impact ...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Positive or Normative

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Muhammad's demand for fresh fish is perfectly income inelastic, and his income increases. If Muhamma...

A:

Q: Which of the following statements regarding a firm's long-run average total cost (LRATC) curve and i...

A: In a firm, the costs of production are important as they help in determining the profitability of th...

Q: Why did most countries of Latin America follow inward-looking strategies after WWII?  List th change...

A: In Latin America's many countries followed an inward-looking strategy because of the great depressio...

Q: Imagine you run a game day shuttle service for parking services for the local ball club. Your costs ...

A:

Q: Figure 7-3 20 Supply 16 15 6.5 4. 2. 3. QUANTITY Refer to Figure 7-3. If the price of the good is S1...

A: Producer surplus refers to the amount the producer receives from selling a good. Diagrammatically, p...

Q: Explain two factors that determine a buyer’s reservation price?

A: Reservation price is the maximum price that a consumer is willing to pay for ownership of a good or ...

Q: using the South African SoNA 2020 as a reference,discuss examples of the different ways that the sou...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Question No.15: Suppose the number of employed people in an economy is 121,166,640. The unemployment...

A: Employment rate = employed people / labor force  unemployment rate = unemployed / labor force labor ...

Q: Which of the following statements is FALSE? Question 6 options: Marginal cost equals average total c...

A: 'Marginal cost equals average fixed cost when the average fixed cost is at its minimum' is the FALSE...

Q: Explain briefly what effect a Fed purchase of bonds will have on: (1) the LM curve; and (2) the IS c...

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions econ...

Q: Consider the following policies, each of which is aimed at reducing violent crime by reducing the us...

A: Solution: The violent crime in the nation is increasing day by day so, the terrorist attack is also ...

Q: Assume that the market demand for cheese is given by the function Qd=252-4P , and the supply is perf...

A: In a situation wherein there is a difference between the price that is the consumer is willing/capab...

Q: The president of Toyota's Georgetown plant was quoted as saying. "Demand for high volumes saps your ...

A: Demand is the total quantities of products that the consumers are willing and able to purchase at di...