Explain in detail. How the economy of US changed over years. Is there any economic progress there?

Q: Why is the supply curve upward sloping? Group of answer choices It isn't. it is downward sloping. -A…

A: The supply curve is the curve between quantity supplied and price and it represents the relationship…

Q: 1. If the price of a movie rental is $4.00, Mary will rent 5 movies in a month. If the price of a…

A: 1. Given information: Initial price of movie rental: $4.00 Initial quantity of movies: 5 Final…

Q: Fiji is a price taker for the petroleum and gas products. Explain with reference to imported…

A: A market participant, such as a person or business, who lacks the ability to affect how much a good…

Q: According to the monetary approach, the exchange rate can be expressed as Multiple Choice O O none…

A: The monetary approach to rates of exchange explains the long-run relationships among the prices,…

Q: Question: Problem Scenario Covid-19 global economic pandemic has negatively affected economies as a…

A: The pandemic has led to a decline in economic activity, job losses, and significant disruptions to…

Q: Match the market structure and its long-run characteristics. Monopolistic competition Perfect…

A: There are various market structures having different characteristics. In monopolistic competition…

Q: Year 1 -2345 Output of Cheese 7 10 13 16 25 Price $15 18 25 23 21 Price Index PI: 120, NGDP: $180,…

A: Price index is calculated by dividing the base year price from current year price and then…

Q: The economy of Ashville is currently in a macroeconomic equilibrium, as depicted by point E, in the…

A: AS-AD model: In this model we are given the aggregate demand curve which exhibits negative…

Q: Suppose that an individual has a Utility function represented by a CES function. The utility…

A: Taking the utility function  U = X1/2+Y1/2 Taking the partial derivative of U with respect to Y is…

Q: Allocation 1 Allocation 2 Specialize Trade Post Trade Gains From Trade Superior? Eggs Country A 18 0…

A: Opportunity cost and comparative advantage: The value of alternative opportunities foregone and…

Q: a.Calculate the saving schedule. b.Determine the marginal propensities to consume (MPC) and save…

A: The break-even point is the point at which TC and TR are equal, meaning there is no loss or profit…

Q: [Related to Solved Problem 5.2b] Use the data on Treasury securities in the following table to…

A: interest rate refers to the rate that can be interpreted as the amount charged by the lender from…

Q: 1. Why is a firm's demand for labor considered a 'derived demand?' What is it derived from?   2.…

A: 1. Labor demand refers to the quantity of labor that firms are willing and able to hire at a given…

Q: Review the discussion of pitfalls in economic thinking in this chapter. Then identify the fallacy,…

A: A fallacy in economics is a flawed assumption or argument that is supported by insufficient data or…

Q: Discuss the contribution of Alfred Cowles, 3rd., (1891 - 1984) to capital market efficiency

A: The degree to which prices of financial assets in a market accurately represent all information that…

Q: Classify the following sequences: a. r-5,5,r+ 5,......... b. p, p² - 1, p²-2p+ ²/1,

A: (1) The sequence is an arithmetic sequence with a common difference of 10, alternating between…

Q: KE The economy's AS curve will shift downward in the short run if there is: A. an improvement in…

A: Aggregate demand is the sum of consumption, investment, government spending and net export.  At…

Q: What are the relationships between interest rate and country's economy? Do you support high or low…

A: The rate of interest refers to the amount that the lender charges over and above the principal…

Q: For the Utility function and demand functions: .0.5 U(x,y) = x05 +y I x(px, Py, 1) = y(px, Py, I) =…

A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…

Q: If the reserve ratio is 4 percent, then the money multiplier is A 10. B 0.04. C 25. D 2.5

A: Reserve ratio is the part of deposit which is kept as in liquid form. Bank can not lend out the…

Q: Marginal Product with 3 workers employed is A. at a maximum. B. at a minimum. C. 0. D. 20. E. Both…

A: Labor TP AP 1 13 13 2 31 15.5 3 51 17 4 67 16.75 5 79 15.8 6 86 14.3333333 7 86…

Q: Suppose the supply and demand equation are given as follow: Demand: Qd=101-3*p Supply: Qs=13+1*p.…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: Suppose that the world price of oil is $70 per barrel and that the United States can buy all the oil…

A: The demand schedule represents the quantity demanded by consumers at different price levels. The…

Q: Explain the elasticity and total revenue with the help of graph?

A: Elasticity describes how much a product's supply or demand will alter in reaction to changes in its…

Q: The Fisher Equation of Exchange reveals that inflation is always a monetary phenomenon. Explain and…

A: A perpetual increase in the general level of price (P) of the consumer basket (a bundle of goods and…

Q: Assume Person A is offered the following game: If they want to participate in the game, they will…

A: A mathematical concept called expected value is used to determine the typical result of a random…

Q: Will bundle x = = 5, y Good Y 120 110 100 90 80 70 60 50 40 30 20 10 0 0 1 2 3 D 4 Good X 5 6 IC 7 8…

A: IC, indifference curve shows the combinations of two goods that give same level of utility.

Q: If the price elasticity of demand for gasoline is 0.20, how big a percent price increase will be…

A: Price elasticity of demand measures the responsiveness of quantity demanded to changes in price…

Q: Year 1 2 Income $10,000 $10,000 Price of Good X $5 $10 Using the above table And the Midpoint Method…

A: Ans.  The cross-price elasticity of demand measures the responsiveness of the percentage change in…

Q: Year CPI 2010 189 2011 211 Consider the data in the table above of the consumer price index…

A: CPI is the consumer price index.  CPI is used to calculate the inflation rate.  Inflation rate is…

Q: (b) Banks can create money through their expenses. Banks can create money through their expenses. Is…

A: We should keep in our minds that while taking about the expenses of the bank, these  includss…

Q: D $1.50 $1.25 $0.75 350 De In the above figure, assume that So represents the industry supply curve…

A: The correct Option is the second option that is:-   An individual firm will face a horizontal demand…

Q: If the demand curve shifts to the right, what is likely to happen to price and quantity?

A: Law of demand states that other things being equal, an increase in the  price of good or service…

Q: In Figure 2 above, what are the factors that may cause the aggregate demand to shift from AD to AD1?…

A: Aggregate Demand implies the amount of sales proceeds that an entrepreneur actually expects from the…

Q: 3. Assume that the price of goods x increases. If x is a normal good, the substitution effect alone…

A: The price effect refers to the change in quantity demanded of a good or service as a result of a…

Q: 1. The federal budgetary process This table shows three stages in the federal budgetary process.…

A: The government budget gives the objective and financial path of the govt in the process of the…

Q: The money market in the country of Everton is depicted in the graphs below (all figures are in…

A: The money market equilibrium is where the money demand curve intersects the money supply curve.  The…

Q: Tas. (x1, x2) X1 X2 mo P1 10; P2 = 20; p₁ = 8. Solve for the CV and EV due to the price change.

A: Compensating variation is the adjustment in income that returns the consumer to the original utility…

Q: 1. The point on an indifference curve represent consumption bundles among which the consumer is or…

A: An indifference  curve is a curve that suggests the combos of two goods that offer the equal level…

Q: Suppose that an individual has a Utility function represented by a CES function. The utility…

A: Utility function and budget constraint: The utility function refers to all those commodity bundles…

Q: 1. A customer puts his money in the amount of 1,500,000 into a bank deposit. If these deposits are…

A: ***Since the student has posted multiple questions, hence, the expert is required to solve only the…

Q: Match the convergence reason with its respective example. Converging economies have a playbook…

A: Economic convergence refers to the tendency of economies with lower per capita income to grow at a…

Q: The total cost function of a firm that produces its product on two assembly lines is given as TC…

A: The link between the cost of producing a specific commodity or service and the volume of output is…

Q: BC2 is the relevant budget constraint, then which of the following bundle(s) is(are) affordable? A.…

A: Budget line shows us the combination of two goods that can be bought given the prices of the goods…

Q: uppose the nation of Isoland is an importer of textiles and is looking for a way to raise government…

A: As we know, with a consumption tax equivalent to a tariff the demand curve will shift downwards by…

Q: abor 1 2 3 4 5 6 7 8 Total Product 13 31 51 67 79 86 86 74 Average Product 13 15.5 17 16.75 15.8…

A:

Q: In 2015, Chipotle suspended the sale of pork at one-third of its restaurants due to animal welfare…

A: In 2015, Chipotle suspended the sale of pork at one-third of its restaurants due to animal welfare.…

Q: How does a country go through “withering” because of globalization?

A: Globalization implies the rising interaction and interdependence of economies all over the world. It…

Q: Give samples of opposition in SOGIE law in the Philippines.

A: The SOGIE (Sexual Orientation and Gender identity or Expression) Equality invoice, also referred to…

Q: n inflation rate that tends to be a leading indicator of future inflation rates is the a. GDP price…

A: The GDP price index measures the change in the price level of final goods and services produced in…