Q: The concept of ‘constant returns to scale’ implies that, if the state of technology (A) remains…
A:
Q: plain the difference between a demand schedule and a demand curve. Would ther e one rather than the…
A: Quantity demanded is an expression utilized in economics to explain the total amount of a good or…
Q: xplain how the IS curve can be derived. (Use the equation derivation method).
A: Macroeconomics refers to the branch of economics concerned with huge-scale or general economic…
Q: An economy produces only fun and food. The table shows the prices and the quantities of fun and food…
A: Potential output or GDP is the full employment output level where al the economy's resources are…
Q: Note: this is an economics question. Game theory and Nash equilibria section. *Discuss the…
A: The study of behavior in settings where the results of one's choices are contingent on those of…
Q: 3 What is the total price of a boat with an original price of $12773, if it is sold at a 20%…
A:
Q: What is the role of government in an economy?
A: When talking about government, it can be said that it is the rulling authority of an economy.
Q: How is GDP affected by inflation, exchange rate, interest rate & FDI?
A: Total national output is the monetary value of every single completed great and services made inside…
Q: X-Variable: Netflix Subscriptions 10 40 60 70 Y-Variable: Red Box Rentals 50 30 20 20 Point A B C D…
A: The slope expresses how quickly the dependent variable changes when the independent variable…
Q: Explain why each of the following statements is True, False, or Uncertain according to economic…
A: Demand refers to the quantity of the goods demanded by the consumers at a given price during a given…
Q: Consider two markets: the market for motorcycles and the market for pancakes. The initial…
A: The price elasticity of supply refers to a metric that is used to evaluate the responsiveness of the…
Q: Define the functions of money. Explain in detail. Thank you.
A: Money is any tangible item or verifiable document that is regularly accepted as payment for goods…
Q: Using the supply and demand equations given below: Demand Qd = 25 – 2P Supply Qs = 1 + P If the…
A: Since you have asked multiple question, we will answer first question for you. If you want any…
Q: A great nation of Wakanda has two sectors. The largest sector of the economy involves mining…
A: The production possibility frontier Frontier is a graphed curve that shows the possible output of…
Q: Consider two markets. The initial equilibrium for both markets is the same, P = $6.50 and Q = 35.0.…
A: The elasticity of supply measures the degree of sensitivity of quantity supplied to change in the…
Q: Left 2,4 Up Down 6,5 Does either player have a dominant strategy? Player 1 Player 2 Yes, just player…
A: Game theory refers to the study of mathematical models of strategic interactions among rational…
Q: A decline in the price of factor A will: Select one; Increase the demand of for complimentary…
A: In economics, two items are deemed as substitutes if they can both meet the same need. Contrary to…
Q: The production possibilities frontier (PPF) is a simplified economic model that illustrates the…
A: A production possibility frontier is a graph which depicts various combinations of two goods that…
Q: the AD curve from the effects of price level changes in the ISLM model.
A: The IS-LM Model is the model which are illustrates the connection between an economy's real output…
Q: What do we consider a shock in global business? O Development of a new technology that is an…
A: A Shock refers to an unexpected or non-predictable event that affects an economy, either positively…
Q: The graph shows the demand curve for smartphones. The market price of a smartphone is $200. On the…
A: Demand curve A demand curve is a graphic that shows the link between the cost of certain good and…
Q: What are the arguments for and against Economic
A: The production, trade, and the consumption of the goods and services are the main topics of the…
Q: An outward shift of a nation's production possibilities frontier can occur due to
A: The production possibility curve depicts various pairings of two items that can be produced in the…
Q: What might Sony and the U.S government have done differently to discourage future such attacks on…
A: 1) Given that this isn't the first time Sony has been hacked, they need to have taken more proactive…
Q: To earn extra money in the summer, you grow tomatoes and sell them at a local farmers' market for…
A: Marginal revenue refers to a rise in revenue those results from the sale of one extra unit of output…
Q: Describe whether each component of demand comprised GDP has become more important when calculating…
A: Gross domestic product (GDP) can be defined as the monetary value of all finished items and services…
Q: Part 2 solve u
A: All living and non-living objects that occur naturally, or in this example, without the use of…
Q: In the early 2000s the price of gasoline rose, causing the demand for hybrid cars to rise. As a…
A: The supply curve of a product depicts the positive relationship between price and quantity supplied,…
Q: How does a tariff affect someone?
A: Meaning of Trade: The term trade refers to the situation under which the products and goods are…
Q: Which of the following is considered to be a systemic barrier that has a negative employment impact…
A: Unemployment refers to a condition where someone actively searches for employment but is unable to…
Q: 3. Samson bought a new cutting machine for P5,000,000.00. The machine could be sold for P50,000.00…
A:
Q: Consider how the COVID-19 pandemic has caused major disruption in global supply chain affecting the…
A: A macroeconomic model called the AD-AS, or aggregate demand-aggregate supply model, uses the link…
Q: The so-called Lake Wobegon effect, where everyone in a group claims to be above average, illustrates…
A: In case of Lake Wobegon Effect, a person has the tendency to consider himself as superior to others.…
Q: Consider the following NIPA Data Durable goods Nonresidential investment Federal purchases of goods…
A: DISCLAIMER “Since you have asked many questions, we will solve the first 3 subparts for you as per…
Q: How does the equilibrium price and quantity change when there is a sale in the next day? Are there…
A: Equilibrium is a state of rest in the market where the forces are in a steady state and do not…
Q: The Census Bureau has developed alternative measures of the poverty threshold (although they do not…
A: Introduction Poverty is a social factor. As per the US census, poverty measures how much income a…
Q: Take a look again at Figure 1 (originally from the page in the text titled "Neoclassical and…
A: The difference between real GDP and potential GDP, when both are measured in real terms, is known as…
Q: Explain the difference between income elasticity, demand elasticity, and cross-price elasticity.
A: Elasticity is the measure of responsiveness in change in quantity due to change in income or price…
Q: If price changes from $4.75 to $5.25 and quantity demanded changes from 1,025 to 975 units, then…
A: Elasticity of demand The susceptibility of the amount desired of a good to changes in any of the…
Q: what is the defintion of money?
A: Fiat money (fiat cash) is money whose value is determined by the governing body rather than its…
Q: A firm is considering purchasing a machine that costs $76,000. It will be used for six years, and…
A: Net present value, also known as NPV, is defined as the present value of inflows less the initial…
Q: QUESTION TWO 2.1 Discuss the relationship that exists amongst the three short-run total cost curves.…
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: Draw the money demand function in an interest rate-real money balances diagram, and show how it…
A: A real interest rate rises to the noticed market financing cost adapted with the impacts of…
Q: Air Quality Index is a way to measure particle pollution in the air. An index between 0 and 50 is…
A: A recent sample data of air quality index values are following: 50 52 59 56 58 The following…
Q: o you think a company can sustain continued investments in education as the program gains popularity…
A: ANSWER: (1). Cigna, in my view, will afford to invest in education as the service grows in…
Q: Trace the development of the concept of globalization since it first appeared in the 1940s. What…
A: Due to factors like air travel, containerized sea shipping, international trade agreements and…
Q: What is importance of financial markets for the productive capacity of the economy.?
A: We know that economies work with the motive of increasing or enhancing their overall economic…
Q: Use the model of small open economy to predict what would happen to the trade balance, and the real…
A: Net exports: Net exports can be find out as the total trade done in domestic countries and foreign…
Q: Consider the following production function for a firm: y=(x1-1)(x2-1), if x1≥1 and x2≥1; and y=0,…
A: We are provided with the production function: y=(x1-1)(x2-1), if x1≥1 and x2≥1; and y=0, if either…
Q: Derive (again!) the LM curve from considering how income increases affect money demand.
A: LM curve is the liquidity preference curve or the curve representing the money market. LM curve…
The expansionary (or recovery) phase of the business cycle is an example of
Step by step
Solved in 2 steps
- Describe the various components of fluctuations in economic activity over time. Because economic activity fluctuates, how is long-term growth possible?What would be the effect of each of the following events on actual and potential economic growth? (Assume no other changes take place.) (a) A reduction in the level of investment. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (b) People save a larger proportion of their income. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (c) A reduction in the working week. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (d) Increased expenditure on education and training.…Does the relative durations of expansions and recessions help explain the fact that long-term economic growth has been positive?
- Technology may have a macro- and micro-level effect on economic growth.What types of technologies are needed to have such macroeconomic consequences? On a micro-level?How has real GDP growth performed recently? Does it suggest the economy is growing close to potential (or the steady state rate of growth)?How does the role of government influence economic growth? As the size of government increases as a share of the economy, how is the growth rate of real GDP likely to be affected? Explain.
- Q4; what are the key factors for long-term economic growth according to Economic historians?What would be the effect of each of the following events on actual and potential economic growth? (Assume no other changes take place.) d) Increased expenditure on education and training. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (e) The discovery of new, more efficient techniques which could benefit industry generally. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (f) A reduction in interest rates. Actual growth: rise / fall / no effect…What is the potential impact of rapid economic growth on: a) A nation's tax base? b) GDP/Capita? Brief explanation for each.
- d) What are the potential negative effects of growth in recent decades and in the foreseeable future?e) What is the “productivity puzzle” and how is it linked to economic growth?Determine whether the events listed below would promote or reduce long term economic growth: A. Advances in technology make workers more productive in many areas B. Changes in the law make business contracts harder to enforce 1. Promote ? 2. ReduceList the two most important factors influencing Long-run Economic Growth. According to Neoclassical (Solow) growth theory, what factor has been the most important driver of US economic growth in the last century? What has been the most important influence on growth according to New Growth Theory?