Indicate whether the concept can be characterized by a shortage, surplus, or equilibrium. Binding price floor Binding price ceiling Price ceiling where price is set above equilibrium price. [Choose ] [Choose ] [Choose ]

Q: Macroeconomics  Group of answer choices is the efficient allocation of societies scarce resources is…

A: Scarce resources are those resources which are present in limited quantities.

Q: The surface of a certain building that requires painting is 2,000 sq.meter. Two  kinds of paint are…

A: Given; Area of certain building= 2000 sq. meter Cost of paint A= P10.50 per sq. meter Renewal…

Q: In Portland, let’s assume that Maria sells coffee in a monopolisticly competitive market. Maria…

A: Here, it is given that Maria is selling coffee in monopolistically competitive market in Portland.…

Q: You are the owner of a local car dealership. Unlike other dealerships in the area, you take pride in…

A:

Q: Calculate the unemployment rate and the labor force participation rate in the following cases: a.…

A: Labor force = Unemployed people + Employed people. Unemployment rate = (Unemployed / Labor…

Q: o what extend does the environment influence economic development.

A: How economic activity and policies impact the environment in which we live as well as how the…

Q: When the income is increases then there is demand. A. Demand curve is shifting to the right B.…

A: The relationship between income and demand could be explained only if we know the nature of the good…

Q: Given an economy with the following characteristics: Currency in circulation = K4, 000, Reserve in…

A: Money Supply  Money supply refers to the circulation of money in an economy during a period of time.…

Q: let: MC = 12Q⁵+5Q⁶-4Q⁵-5 MR = 16Q¹⁵+15Q²-12Q⁶-10Q MP = 12X⁵+25X⁷-24X⁴-7X Determine the functions of…

A: In the mention question we have been asked to calculate the total cost, total revenue and total…

Q: person is planning for his retired life. He has 10 more years of service. He would like to deposit…

A: Given the time period = 10 years First-year deposit amount = $4000 Annual increase = $500 Interest…

Q: if the price of a good increase and the good is a normal good the budget constraint will pivot…

A: Budget constraint: It refers to the goods and services a person can buy from their budget. It is the…

Q: ind the monthly house payment necessary to amortize the following loan. order to purchase a home, a…

A: Future value is the value of a resource at a particular date. It estimates the nominal future amount…

Q: Total revenue is: a. Quantity sold times price b. Price times income c. Equal to costs of production

A: Total revenue, commonly referred to as gross revenue, is the sum of money that your company makes…

Q: Consider the following graph pertaining to a monopolist. Does the monopolist choose the output rate…

A: At the point where marginal revenue equals marginal cost, a monopolist can maximise its earnings. At…

Q: Let’s see how GDP per person can be affected by changes in the fraction of citizens who work. This…

A: Given  "Every employed worker produces $50,000 worth of output" Part a) If the employment-population…

Q: the South African government can fund its deficits without the economy experiencing rising general…

A: The budget deficit occurs where the total revenue is less than the expenditure of government.

Q: What is “Clintonomics”? Describe the changes to the U.S. economy during the 1990s. What role did…

A: An economy is that the massive set of inter-related production, consumption, and exchange activities…

Q: Consider the exchange rates of U.S. dollars to yen. Using figures, explain the following: 1.…

A: The price of a country's currency in relation to another country's currency is known as the exchange…

Q: If MPC =2/3, actual GDP = $14,000 and potential GDP = $13,100, there is a __________ (recessionary /…

A: The measure that depicts the final value of goods and services being produced in an economy during…

Q: The demand for is more elastic than the demand for Select one: O a. all soft beverages; lemonade O…

A: Elasticity in economics basically refers to the measure of the overall responsiveness of one…

Q: Suppose that there is limited commitment in the credit market, but lenders are uncertain about the…

A: Collateral constraints drive an unevenness in the connection between house costs and economic…

Q: Heidi spends all of her income on going to movies, regardless of her income level or the price of…

A: Formula to calculate price elasticity:-                                       ed=∆Q∆P×PQ Here;…

Q: Using 2016 as the base year, calculate the Laspeyre’s Price Index for 2021. A    135.60 B    66.73…

A: Ice cream flavor Price in 2016 (Po) Price in 2021 (P1) Quantity in 2016 (Qo) P1Qo PoQo Vanilla 130…

Q: If the market price for the perfectly competitive firm represented in Figure 1.5 is $4... Figure 1.5…

A: "In perfectly competitive market structure firms produce homogeneous products and are price taker.…

Q: 1. The option is currently A. In-the-money B. At-the-money C. Out-the-money 2. Determine the…

A: For put options, the strike price is the price at which the security may be sold, whereas for call…

Q: In macroeconomics, in the Keynesian range of the AS curve _______________. Group of answer choices a…

A: The aggregate supply curve depicts the combinations of aggregate supplied and price level.  In the…

Q: If nominal GDP is $10 trillion and real GDP is $8 trillion, the GDP deflator is: a. 80, and this…

A: The price fluctuations for all the products and services produced in an economy are tracked by the…

Q: Explain the difference between a direct cost and an opportunity cost. Illustrate the difference of…

A: * Difference between a direct cost and an opportunity cost:-  1) Direct costs are expenses that need…

Q: 3. Examine the following version of the Prisoner's Dilemma: Prisoner 1 Betray Silent Prisoner 2…

A: (a) The game in question has two participants: Prisoner 1 and Prisoner 2. Betray and Silent are the…

Q: When the number of producers are increasing then the supply will OA. Increase OB. Decrease O C.…

A: For the course of production to begin it is fundamental that legitimate preparation and supply of…

Q: 1. Assume that two goods A and B are gross substitutes. If the price of A falls, this means that you…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What was “Reaganomics”?

A: Various economic policies were implemented under the presidentship of Ronald Reagan in order to…

Q: Suppose Dexter is willing to pay $5 for a chocolate bar, Draco is willing to pay $z, and willing to…

A: Consumer surplus is the benefit that is achieved by the consumers whole purchasing goods and…

Q: The figure above depicts a monopoly. If the monopolist perfectly price discriminates, then consumer…

A: Monopoly practices perfectly price discrimination produced at the intersection point of demand and…

Q: The optimal level of output can be achieved by levying a tax on a company producing a negative…

A: Negative externalities are negative side effects of economic activities that are not captured by the…

Q: Kindly answer all three parts 1) Why do national income accountants compare the market value of the…

A: The total market value of all the finished goods and services produced within a nation's boundaries…

Q: Assume the prices of product X and Y are $1.50 and $1.00, respectively, and that Mr. Chen has $24 to…

A: Budget constraint show the  combination of the good and services which is purchase by the consumer…

Q: Which of the following statements is false? a. Saving a portion of one's income in a pension is a…

A: Merit goods are the goods that result in positive external effects on society. Usually, these goods…

Q: From the decision tree branch shown, determine the expected values of the two outcomes if decision…

A: Expected value in probability is a value , by multiplying the possible outcomes value each outcome…

Q: Differences between use-value, exchange-value, and surplus-value.

A: A person's assessment of an economic good's worth is based on the benefits they stand to get from…

Q: Given the demand and supply equations below, show the burden of a 50% tax on the producers. What is…

A: Per unit tax as well as percentage tax if collected from sellers shifts the supply curve upward,…

Q: According to macroeconomic theory, a concurrent increase in AD and decrease in AS will cause…

A: Equilibrium in the economy occurs at the intersection of aggregate demand and aggregate supply

Q: Consider a product X that nobody would buy for $700 or more. Conversely, for every $2 that the price…

A: Since you have posted a question with multiple sub parts, we will solve first three subparts for…

Q: Solve all subparts it correctly and explanations Q) whats is the difference between CPI, GDP…

A: The measure that depicts the general increase in prices of goods and services over a specified…

Q: Buhler Industries is a farm implement manufacturer. Management is currently evaluating a proposal to…

A: Net present value or NPV can be defined as the capital budgeting tool that is used to make a…

Q: As shown in Exhibit 7-12, if the firm's price is OD, the firm will supply a. zero units of output…

A: For a perfectly competitive firm, the rising portion of MC above the AVC is a short-run supply…

Q: An initial increase in investment spending will generate: Less of an increase in income…

A: The amount of desired investment would rise as a result of an increase in investment, which would…

Q: Consider the choice between the following two lotteries. L1 = (0, 0.2; 200, 0.8) ;L2 = (0, 0.6; 300,…

A: Utility Theory  A positive theory that aims to explain people's observed behavior and decisions is…

Q: In our daily life we use credit cards and debits cards for payments. Are credits cards considered…

A: Anything that is extensively used as a medium of exchange and accepted as payment is considered to…

Q: A bank gives a loan to a company to purchase an equipment worth 10,00,000 dollars at an interest…

A: Loan amount to purchase the equipment = $1000000 Interest rate = 18% Time period for the the…