Chapter 3, Problem 14PAE

Entrepreneurs are: a) enterprising person who discovers potentially profitable opportunities and organize, direct, and manage productive ventures. b) crtical to the success of any economy, especially if the economy relies heavily on markets. c) an economic resource because they discover more effective and profitable ways to produce the goods and service people want. d) all of the above

Explain your answer comprehensively about the question stated below: Suppose that Congress passes a law requiring employers to provide employees a life insurance policy worth at least $50,000. Analyze the efect of this on employees. Use Economic Theory and concepts on how this mandate will influence or affect poverty, wages, labor migration, and economic growth. Note: Do not answer this regarding the effect on employers who are offering that amount or less than that amount. The question is about the employees. Thank you.

Why isn’t money considered capital in economics? Which of the following are microeconomic issues? Which are macroeconomic issues? a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold? b. What will cause the nation’s inflation rate to fall c. How does a quota on textile imports affect the textile industry? d. Does a large federal budget deficit reduce the rate of unemployment in the economy?   Explain the importance of the ceteris paribus assumption for an economic model.   Analyze the positive versus normative arguments in the following case. What statements of positive economics are used to support the requiring of airbags? What normative reasoning is used?   Should the Government Require Air Bags? Technological advances continuously provide new high-tech options to save lives that add to the price of cars, such as cameras, radar, and airbags. Airbag advocates say airbags will save lives, and the government should require them in all cars.…

Which of the given options would be studied in a microeconomics course? (A) How an increase in the tax rate affects the overall performance (B) Comparison of inflation rates between countries (C) How a trade agreement between the United States and Mexico affects both nations’ unemployment rates (D) Impact of rental roofs on the housing supply

Please select the economic term that is best described by each statement. People have limited resources. scarcity tradeoffs business cycle recession margins entrepreneurship   Everything you do requires giving up something (time, money, etc.). tradeoffs financial capital scarcity budgeting recession margins

Explain merit goods and provide at least four examples of how these goods become a merit to the society.

True or False. Give reasons also. 1) The meaning assigned to activities may be shared but may also be complete. 2) The Industrial revolution changed the way people worked, but little else about their lives. 3) The Industrial revolution was centred in Europe and United States, but had impact in the whole world. 4) For Marx, capitalism was a positive force that ensured all human needs would be met. 5) Karl Marx was associated with the concept of  sympathetic knowledge.

ii. Identify each of the following topics as being part of microeconomics or macroeconomics: a.​the impact of a change in consumer income on the purchase of luxury automobiles b.​the effect of a change in the price of Coke on the purchase of Pepsi c.​the impact of a war in the Middle East on the rate of inflation in the United States d.​factors influencing the rate of economic growth. e.​factors influencing the demand for tractors. f.​the impact of tax policy on national saving.