Suppose a parliamentary steering committee doubles the wage of garment workers at rupee 8750/-. Explain the impact on economy

Q: In 2020 Pakistan Automobile Market falls by 33.6 % as the pandemic and lockdowns affect sales. In…

A: The contribution of the automobile sector in Pakistan's GDP is close to 4%. But the covid pandemic…

Q: Consider the following economy C=1000+0.4(Y-T) 1=500 T=400 G=300 What is the income of equilibrium?

A: Given: C=1000+0.4(Y-T) I=500 T=400 G=300 To find: Income of equilibrium

Q: You are the chair of the Malaysian Economic Council. There has been an extremely hot weather due to…

A: In Keynesian economics, an economy is said to be operating at a long-run equilibrium at a output…

Q: The country of Econoland produces two goods: textbooks and widgets. Last year produced 200 textbooks…

A: Given, Last year's total output of textbook = 200 Last year's total output of widget = 500 Present…

Q: Which statement best describes the circular flow of an economy? the flow between businesses and…

A: In economics, it can be seen that people interact with one another for making business, economic or…

Q: What term is used to describe the maximum quantity that an economy can produce, in the context of…

A: In macroeconomics, potential output/GDP alludes to the most elevated level of genuine GDP that can…

Q: Predict what will happen to the economy because of covid 19 negative effect on it

A: Coronavirus(COVID-19) is an infectious disease. It has become a global pandemic. It spreads from…

Q: The price of​ long-distance telephone service fell from 40 cents per minute in 1996 to 22 cents per…

A: Consumer Price Index (CPI) refers to a statistical measure of finding variation in levels of prices…

Q: Inflation rate should be less than 4% in Bangladesh.State whether this iss a positive or normative…

A: Positive and normative analysis are two fundamental roles that economics play. Broadly speaking,…

Q: Describe briefly: What is "value" for economists?

A: Economists are those who have knowledge about economics. They study the way an economy works and…

Q: An increase of 50 per cent in the cost of a certain consumable product raises the cost of living of…

A: The consumer price index (CPI) is used to measure the weighted basket of goods and services that a…

Q: 4. So a friend, a non econ friend, looks at your answers in e) above and asks you: Why are your…

A: The real wage is derived from two terms, which are nominal wage and inflation rate.

Q: Output in an economy can be decreased by limiting the work week. using more machines. O adding more…

A: Limiting the work week leads to a lesser time of production process that leads to a lower level of…

Q: What is macro-economics and is it important in the economy of a country?

A: Macro economics is the study of economy as a whole. It takes into consideration the entire economy…

Q: (a) Susan and Patrick (Discovery Tours) are keen to progress with their idea and have begun to look…

A: Business tourism, often known as business travel, is a subset of ordinary tourism that is more…

Q: __________ is the reason for central problems of an economy. a. Unemployment b. Surplus of resources…

A: Scarce Resources: The scarce resources are those resources whose supply is limited against its…

Q: Draw a circular flow diagrm. Identify the parts of model that corresponds to flow of goods and…

A: The circular-flow diagram (or circular-flow model) is a graphical representation of the movement of…

Q: What is the impact of the work of the FOMC on the current economic environment?

A: * ANSWER :-  (1)

Q: What is unemployment in macroeconomics?

A: Unemployment is the situation when people are willing to work at the market wage rate and actively…

Q: What is the contribution of banana leaves plate or biodegradable plates to the economy?Explain.

A: Banana Leaf Technology, for example, is working to address this stark reality by suggesting banana…

Q: Explain why Karl Marx said that even if the wage increases, it will still go back to its subsistence…

A: Subsistence wages are the wages that enable a worker to fulfill his or her basic needs. Subsistence…

Q: A consumer, who is initially a lender, remains a lender even after a decline in interest rates. Is…

A: Microeconomics is a part of economics that is used to understand how resources can be allocated in…

Q: An example of a nominal variable is: a)the dollar wage b)the real interest rate c)the ratio of the…

A: Nominal variables are those variables that measured in actual money value. This value is not…

Q: Pakistan might be on the brink of losing its brain capital. What are the impacts of this brain drain…

A: Pakistan is a Muslim country in the southern part of Asia. It stands on the fifth position in terms…

Q: a What are the total payments (income) to factors of Better-bald b What are the total payments…

A: Answer: The factor of production: Factor of production refers to the inputs used to produce goods or…

Q: Consider the following closed economy, which we shall call Gazzalestan. C=100+4/5 X YD. I=2100…

A: Given information: C = 100 + (4/5)*YD -------------> Consumption function I = 2100…

Q: Given the model for the Mary Island economy calculate the equilibrium level of income.  Show your…

A: The equilibrium level of national income implies the equality between income and expenditure in the…

Q: Which of the following is most likely a topic of discussion in microeconomics? a)an increase in the…

A: Economics is the study of how scarce resources are utilized by individuals, societies, and nations…

Q: onsider a hypothetical economy described by the following information: C = 500 I = 100 G = 200 T =…

A:

Q: What is the underground economy Why is it called that?

A: The underground economy has various names like the shadow economy, black market, unofficial economy,…

Q: Which industry is somewhat protected from economic downturns? (Select all that apply) O Capital…

A: NOTE: We;ll answer the first question as the exact one isn't specified. Please resubmit the question…

Q: Use the following table, which lists output quantities and prices for the only three goods in the…

A: Given Information- Base Year= 2007 Current year=2009 Consumer Price Index = Cost of the fixed basket…

Q: FIGURE 2-7 300 200 100 - 100 200 300 400 Soybeans Refer to Figure 2-7. In order to move from Point C…

A: Production possibility frontier: In order to produce the output that is two products in an efficient…

Q: this question is for Macroeconomics but it didn't show  any option for Macroeconomics it just show…

A: Consumer price index measures the average prices of a fixed market basket of goods and services. The…

Q: Suppose the following transactions occur during the current year: 1. Kenji orders 40 cases of mescal…

A: Answer- Consumption Expenditure - $1500, Investment=0, Governemnt purchase=0, Imports=$3600,…

Q: A farmer produces rutabagas and sells them to the agricultural firm Conagra. Conagra packages the…

A: In a market, a company must select a product that must be manufactured in accordance with the…