why is GDP  an economic indicator and why do we need to use it as a measure of the health of an economy.

Q: Should this be collected by retailers when electronic products are sold to consumers, or should it…

A: Rate or return or ROR refers to the actual profit or loss incurred upon an investment for a specific…

Q: - Discuss the three pillars of the neoclassical economy. How are they linked? Describe in terms of…

A: The answer to both these questions is as follows:-

Q: When the marginal product of labor equals the average product of labor, then a.the mar d. c. the…

A: Average product refers to total product per unit of labour. Marginal product refers to change in…

Q: Suppose the firm's production function is Q = 2KL, where Q is units of output, K is units of capital…

A: We can find out the short run production function using the capital K= 4.

Q: 2. Categories of goods Complete the following table by selecting the appropriate definition for each…

A: Non Excludable is that good that can't exclude a certain person from consuming that good infact it…

Q: 4. Given the following total revenue function TR(Q) and the total cost function TC(Q), maximize…

A:

Q: The minimum possible average cost of production for videotape rentals is S1.50, and the minimum…

A: In the mentioned question we have been asked when the company should shut down the video tape rental…

Q: Assume a two-good production economy characterized by the production functions: Q1 = K1 1/2L1 1/2…

A: Production possibility frontier is the locus of points of maximum output mix which can be produced…

Q: This table shows the number of cars the local car wash can wash in an hour depending on the number…

A: Here, the given table shows the total no.of cars washed by the workers as the units of workers…

Q: Consider the demand curve illustrated in the figure to the right. Suppose at a price of $8 per unit,…

A: We are given with the graph and the price per unit is given to be as $8 Also the green shaded area…

Q: HW#1: Ricardian Theory of Trade - Assignment Use the following assumptions to solve this assignment:…

A: Hi! Thank you for the question. As per the honor code, We’ll answer question number 4 only. Please…

Q: The car manufacturing market consists of 100 identical factories, each with a marginal cost curve…

A: [a] Industry supply curve = total of MC of all firms = MC*Number of factories…

Q: 4. Is the Fed out of Ammo? Since the end of the Great Recession, interest rates have been at…

A: When a central bank utilizes its instruments to stimulate the economy, it is known as expansionary…

Q: 1. Without a thorough strategy formulation process, is it possible for an organization to survive in…

A: Every organization has its own goals and visions for the long term achievements of the organization…

Q: Suppose that the incomes of buyers in a particular market for an inferior good increase and there is…

A: Demand and supply forces of the market help in the determination of market price and market…

Q: True or false: In a constant-cost industry, a tax of a constant, fixed amount on each unit of output…

A: PLEASE FIND THE ANSWER BELOW.

Q: A single bank must meet a 20 percent reserve ratio. If the bank has no excess reserves initially and…

A: Money Created = Multplier*Amount of Money aadded Multiplier =  1/reserve ratio = 1/20 = 5

Q: The Good Samaritan Game Unfortunately a man had an accident and somebody has to help him. The per-…

A: given information There are people who observes an accident If helps everyone gets 1 pay off and if…

Q: For a perfectly competitive firm operating in the short run, in order to maximize profits it should…

A: here we find the correct answer as follow;

Q: Suppose a feed mill is looking at their total revenue. If they receive $36 per sack of horse feed…

A: There are two livestock one is cattle with $14 price per unit and another is Horse with $36 per…

Q: 34. Skyscrapers Corporation is engaged in the manufacturing of standard wide flange section of steel…

A: Solution- The sky crapper corporation is engaged in the manufacturing of standard wide flange…

Q: 4.. Good news for farming can be bad news for farmers because the a. supply curve for an individual…

A: The farming products that are agricultural goods are considered essential goods. This means demand…

Q: Between 2020 and 2022, property prices across Australia have increased by 30% on average. This has…

A: Gross Domestic Product refers to the value of the total output that a country produces during a…

Q: (a) Find the number of hours for which each cost function will give the same cost. hours (b) !f the…

A: Fron the provided data, Acme (x); 140+10x Bell (x);200+4x

Q: Price (dollars per unit) 600 400 AC = MC De mand Marginal revenue 200 400 Computers (units per day)…

A: Monopoly is a single seller in the market with no close substitutes.

Q: Suppose the government borrows $20 million more next year than this year. How does the elasticity…

A: [a] When there is the borrowing of $20 million by the government then surely the supply of loanable…

Q: If firms in the market are producing output but are currently making economic losses, P illustrates…

A: In economics, the marginal cost of production is the change in total production cost that comes from…

Q: Assume the total product of two workers is 100 and the total product of three workers is 150. The…

A: Average product is the per unit production and marginal product is the additional production.

Q: 2. If there is a decrease in the price of DVD players, the consumers of DVD players will benefit.…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: Ordinarily, banks try to keep excess reserves as low as possible because the Fed requires them to do…

A: Excess reserve is the amount of capital reserve held by the bank in excess of what is required by…

Q: Under the investment approach, what is the likelihood that a rational voter will choose to vote and…

A: In a market, rationality refers to the situation when an individual make his decision based on given…

Q: Define a perfect competition market structure?

A: Market structure defines the features of a market in which the buyers and sellers interact to sell…

Q: The average product of labor of workers in the Sony electronics facility that builds televisions is…

A: The average product refers to the average output (or products) produced by each input (factors of…

Q: Consider a perfectly competitive constant-cost industry with n identical firms. Startis from long…

A: A perfectly competitive industry with a horizontal long-run industry supply curve as a result of no…

Q: Consider the two-period Neoclassical growth model seen in class. Let the utility function take the…

A: Given information Two period neoclassical growth model Utility function U(C)=log (C) Consumption…

Q: 1. A/G, 10%, 5 2. P/G, 9%, 7 3. F/G, 0.25%, 10

A: Disclaimer: Since you have posted multiple questions, I am providing you with the answers to the…

Q: By how much would GDP change due to the following: - A bookstore buys $5000 worth of books from…

A: We know, GDP = Value of Output - Intermediate Consumption GDP = Sales + Change in Stock -…

Q: _______ A study of how wealth is created and distributed.

A: Economics is a social science which studies the functioning of an economy. It can be divided into…

Q: Why is the unemployment rate important?

A: Unemployment is defined as a state in which all those people who are willing to work at the existing…

Q: e figure below shows the domestic demand (Dd) and domestic supply d) curves of mopeds in a country…

A: We have, World Price = Pw= $750 New export price with quota = Pw+q = $715 Domestic Price = Pd = $800…

Q: Medicaid utilizes O personal funds that are matched by federal government to help low-income…

A: Medicaid is providing  financing for hospitals, community health centers, physicians, nursing homes.…

Q: 14. Audrey buys a piece of lot for P160,000 down payment and 12 deferred semi-annual payments of…

A: The entrance and outflow of cash and cash equivalents are referred to as cash flow. The cash flow of…

Q: What impact do the political systems of each country have on their efforts toward international…

A: When talking about international trade, it can be seen that the trade in international market is…

Q: 1

A: The labor force is the summation of unemployed workers and employed workers. The employed workers…

Q: What is meant by the following (the elements of the economic problem can be analyzed into two main…

A: Scarcity: - it is a very basic problem of economics that is related to the limited availability of…

Q: 2. Suppose you asked the following question to Person A and Person B: "How much are you willing to…

A: Introduction Here wealth of A and B is $100. Suppose CARA utility function for A is U ( A) = 2…

Q: 2. What is the comparative advantage of having a Strategic Management between No Strategic…

A: Ans- In this business world strategy is a eminent word. Top most officers and executives do it at…

Q: Suppose you estimate the folilowing regression model: AW E = 696.7 + 9.6 x AGE where AWE is average…

A: Answer: Given, Regression model: AWE=696.7+9.6×AGEWhere,AWE=average real weekly earningsAGE=age of…

Q: Consider the following game: Steffi N P Q K 6, 1 5, 2 6, 2 Jim 4, 3 8, 3 5, 1 M -1,0 5, 1 4, 1 How…

A: According to the pay-off given, Jim plays dominantly in two strategies when he chooses to play K and…

Q: a) If Kyeiwaa has GhC 50 of non-labor income per week, and she faces a market wage rate of GhC 5 per…

A: