If sellers are taxed $6 a ball, the price that sellers receive for a basketball is $ The number of basketballs bought is million. The tax revenue from the sale of basketballs is $ million.

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Q: The chapter "Contemporary Models of Development and Underdevelopment" discusses some “trap” issues f...

A: Development economics deals with the branch of economics which focuses on improving fiscal, economic...

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Q: 4. If the nominal Gross Domestic Product of an economy is equal to 19,567 and the real Gross Domesti...

A: Given: The nominal GDP for an economy is = 19,567 The real for an economy is = 15,355 To Find: The G...

Q: 8 Discuss Marx’s “theory of history”, relating it to the earlier ideas of Darwin (natural selection...

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A: The perfectly competitive market characterized by the presence of many buyers and sellers. The infor...

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A: Chicken and Fish are substitutes. If the price of chicken increases, the demand for fish will increa...

Q: the MPS in an economy is 0.25, government could shift the aggregate demand curve leftward by $60 bil...

A: The multiplier value will decide actual level of change  expenditure to produce certain effects. 

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A: Ss(supply) curve is an upward sloping line which shows the direct relation between p(price) and Qs(q...

Q: 12. John has a daughter named Jonna, he invested P5000 at 7% account for her education she was born....

A: Given the interest rate = 7% Invested amount = P5000  

Q: Assume a Ricardian, constant-cost world. There are two countries, the United States and Canada. Each...

A: The Ricardian model implies that two nations produce two things using just one element of the produc...

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A: National income is defined in economics as the value of goods and services generated in a country wi...

Q: Recent history of the developing country financial crisis.  only need names and little explanation ...

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A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity cos...

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A: competitive market is the form of market structure where large numbers of buyers and sellers exchang...

Q: QUESTION 1 An interest rate of 38% per year, compounded monthly, is nearest to * per year Enter the ...

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A: Consumer willingness to pay measures or represents the cost of a good or service to a buyer.

Q: If a pizza maker pays $1 for tomatoes, $1 for cheese, $2 for pepperoni and sells the pizza made with...

A: Gross Domestic Product is the final value of all goods and services produced in the economy during a...

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A: Elasticity is defined as the responsiveness or sensitiveness on the demand if the factor influencing...

Q: The variable cost to make a certain product is $73 per unit. Research indicates that the lowest pric...

A:

Q: How much do ten ₱ 5,811 quarterly payments amount at present, if the interest rate is 2 compounded q...

A: Given the quarterly payment = 5811 Interest rate = 2%/4 = 0.5% Number of compounding period = 10  

Q: The Ontario Minister of Agriculture and Food wants the federal government to eliminate the AgriStabi...

A: ANSWER   The ontario government in 2020 accepted the proposal of Fed government for enhancing the ag...

Q: What is the IRR in the following cash flow? Year End 3 4 Cash Flow 1,800 -6,000 1,800 1,800 1,800 1,...

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Q: $3,300 $8 $2,400 $2,400 1. 2 4. End of Year

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Q: Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate...

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Q: Suppose the Central bank announces today a change in monetary policy: it is increasing target inflat...

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Q: An equipment costs P10,000 with a salvage value of P500 at the end of 10 years. Calculate the annual...

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Q: The cost of making a packet of the food in the year 2015 is RM20. Calculate the corresponding cost i...

A: Given information 4 Raw material for food preparation Prices in year 2015 and in year 2017 Price ind...

Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =  Q2 +30 Q + 10 Determin...

A:

Q: The certain publisher purchased a machine for P 30,000, used it for 5 years and then sold it for P 1...

A: Sinking fund method of depreciation.  The arrangement is created in this technique such that a prede...

Q: How much money must you invest today in order to withdraw ₱ 11,331 annually for 5 years if the inter...

A: Given the information: Annual withdrawal amount = 11331 Time = 5 years Interest rate = 1.98%  

Q: Determine if the following statement is normative or positive: Households that participate in SNAP p...

A: Positive Economic: The positive economic deals with the issues or things as they exist. It studies t...

Q: Explain the term price elasticity of demand? How is it measured? What factors influence market deman...

A: What is price elasticity of demand? Price elasticity of demand will in general be an action on the m...

Q: Suppose there are 2 individuals, A and B; 2 goods, X and Y. The utility function of A: U, = X + YA a...

A: A bunch of Pareto efficient allocations in the Edgeworth box is known as a Pareto set. This begets t...

Q: What are the advantages and disadvantages of globalization to the economy of the Philippines? Give 4...

A: GLOBALIZATION:            It is the spread of information,products,technology and jobs across nation...