Which type of scarcity is macroeconomics not concerned of? a. inadequacy of water supply in one region in the country b. insufficient resources available for fishing c. shortage of manpower to fill up the available jobs in the country d. shortage of jobs for the available labor force
Q: Explain the term models or paradigms?
A: A model is a theoretical construct in economics that represents economic processes through a…
Q: Problem 2. a. In the neoclassical growth model, there are diminishing returns to physical capital…
A: Neoclassical growth theory is AN theory that explains however the confluence of 3 driving…
Q: Normative economic statements MUST a. be precise b. quantify data c. have no bias d. be objective e.…
A: The economics is the study of individual behavior and how they allocate the goods and services…
Q: 3) How does a society benefit from the production of capital goods?
A: The production possibility frontier is a curve which illustrates the varying amounts of two products…
Q: The unemployment rate of Oman is measured as 2.55% in 2020, which is lower than the rate of India.…
A: A positive statement is one that can be tested and verified and is not based on a value judgment.…
Q: What are the key elements of the scientific method and how does this method relate to economic…
A: Scientific method is to observe whether the research which is going to be done how much it will…
Q: All of the following topics fall within the study of microeconomics EXCEPTa. the impact of cigarette…
A: Microeconomics is related to the study of an individual or micro economic units such as a firm, a…
Q: Q) What are some economic opportunities and challenges for an ageing population? Can you show this…
A: A continuous increase in the median age of the population due to increasing life expectancy and…
Q: Categorize the following as microeconomic or macroeconomic questions: (vii) Why are interest rates…
A: Economics is separated into two classifications: microeconomics and macroeconomics. Microeconomics…
Q: What is the need for integrating both the main branches of economics i.e Micro economics and macro…
A:
Q: Identify each of the following topics as being part of microeconomics or macroeconomics: a.the…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Explain why the three (3) goals of macroeconomics are relevant
A: Macroeconomics is a discipline of economics that investigates the behavior of a whole economy, such…
Q: What are the major learning outcomes from studying macroeconomics course?
A: Macroeconomics is a feild of study that deals with economy as a whole. It basically deals with…
Q: Which of the following is a microeconomic question? a) How can we reduce the unemployment rate among…
A: The economy is the system where goods and services are manufactured, sold, and brought into the…
Q: Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier…
A: Macroeconomics – It is the branch of economics that studies the entire functioning of a national…
Q: Can you explain the focus of macroeconomics and microeconomics?
A: Economics is divided in two parts: 1) Microeconomics 2) Macroeconomics
Q: Classify the following topics as telating to microeconomics or macroeconomics and briefly explain…
A: Microeconomics signifies a branch of economics which explains how individuals and business firms…
Q: With the topics discussed within Macroeconomics, which topic do you feel is most influential on our…
A: Macroeconomics is an important part of economics and it affects the national economy greatly.
Q: 45 "The Consumer Price Index increased by 4.2 percent in the first quarter of this year." What type…
A: Consumer price index is the measure to determine the cost of market basket of goods and services.
Q: What does a normative statement describe? A. how the world will be in the future B. how the…
A: A normative statement is an ideological, prescriptive, and judgmental statement. It sets a standard…
Q: "The Consumer Price Index increased by 4.2 percent in the first quarter of this year." What type of…
A: The consumer price index states as the weighted average market of services and goods by households.…
Q: Question: Which of the following best illustrates the economic way of thinking? a)The ability to…
A: Economic thinking explores how individuals take decisions in the face of shortages, as well as…
Q: 1. Identify the normative statement out of the following statements. 1) Sri Lanka has reported a…
A: Normative statements includes prescriptions and judgement about what should be done or how something…
Q: Microeconomics is best described as the study of a. economy-wide phenomena. b. how households and…
A: Economics comes from the Greek word which means management of households. In economics, we study the…
Q: QUESTION 28 Fl in the blank using the number that corresponds to the correct word or phrase in the…
A: The emphasis on opportunity cost, the assumption of maximization in terms of one's own…
Q: Q2: Micro VS Macroeconomics? Classify the following questions as Microeconomics or Macroeconomics…
A: To understand the economic behavior of various market factors, the learning of these factors is…
Q: With the aid of diagram, explain the economic concept of scarcity, efficiency and full employment…
A: The economic concept of scarcity, efficiency and the full employment and the trade off are the…
Q: Classify the following topics as relating to microeconomics or macroeconomics. a. a family's…
A: (a). Micro economics.(b). Micro economics.(c). Macro economics.(d). Micro economics.(e). Macro…
Q: Which of the following is a topic of macroeconomics? a) the distribution of a person's income…
A: Macroeconomics studies the behaviour of an economy as a whole while microeconomics studies the…
Q: (e) expalin normative economic analysis (f) explain market economy in your own words. (g) what do…
A: (e) Normative economic analysis: Normative economics gives importance to the ideas, opinions,…
Q: Which question is an example of a macroeconomic question? A. What is the level of industrial…
A: Microeconomics can be understood as a branch of economics that studies the behavior of an economy…
Q: Identify the normative statement out of the following statements. 1) Sri Lanka has reported a…
A: 1. Given the question is Identify the normative statement out of the following statements. 1) Sri…
Q: menu messageQ&A notifications account_circle…
A: Three ways in which a government policymaker can raise the growth in living standard in society…
Q: Which of the following BEST describes macroeconomics? It analyzes the aggregate effects on the…
A: Answer: Macroeconomics: The macroeconomy studies the impact of decisions taken by firms and…
Q: Economic Models? a. are essential representations of the real world b. are used to explain how…
A: Answer: Correct option: (a) Explanation: Economic models are used to find ways in which the economic…
Q: the government should spend less money to * take care of a national park they are making a positive…
A: Positive Economics can be thought of as dealing with the facts, which are true, and cannot be…
Q: b. What is the difference between positive and normative analysis? Which of the following statements…
A: Positive statement is the statement that tells as it is. For example, the inflation in the economy…
Q: Which of these statements is not true? a. Macroeconomics addresses national economic issues b.…
A: In economics, economic agents have an important role in efficiently utilizing scarce resources so…
Q: In a most recent newspaper, identify three (3) economic issues and classify them as relating to…
A: 1 Poverty- Macro level problem In the recent news, Philippines is facing a high level of poverty.…
Q: Economic models a) are precise replication of the real world b) answer virtually unlimited…
A: An economy is a collection of organizations and structures that aid in the production and…
Q: 3.) Which of the following is NOT part of the opportunity cost of attending TCNJ? a.) Tuition b.)…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Circular flow diagram: Include the government sector in your explanation, a description of the roles…
A: Disclaimer :- As you posted Different questions or multiple questions we are supposed to solve only…
35.
Which type of scarcity is
a.
inadequacy of water supply in one region in the country
b.
insufficient resources available for fishing
c.
shortage of manpower to fill up the available jobs in the country
d.
shortage of jobs for the available labor force
Step by step
Solved in 2 steps
- A production possibilities curve can shift inward if there is a. an increase in productivity b. an increase in unemployment c. an increase in the price of raw materials d. a misallocation of resources e. a natural disaster(1) Classify the following topics as relating to microeconomics or macroeconomics. (5) a. a family’s decision about how much income to save b. the effect of government regulations on auto emissions c. the impact of higher national saving on economic growth d. a firm’s decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of moneyii. Identify each of the following topics as being part of microeconomics or macroeconomics: d.factors influencing the rate of economic growth. e.factors influencing the demand for tractors. f.the impact of tax policy on national saving.
- 1. Classify the following as microeconomics or macroeconomics and provide a justification for your choice. a. The effect of rising oil prices on employment in the airline industry. b. A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth. c. Changes in the nations unemployment rate over short periods of time. d. The effect of changes in household saving rates on the growth rate of national income.A: How can explain the micro economics in this advanced age? B: Define the term production?1. Classify the following topics as relating to microeconomics or macroeconomics. a. A family’s decision about how much income to save b. The effect of government regulations on auto emissions c. The impact of higher national saving on economic growth d. A firm’s decision about how many workers to hire e. The relationship between the inflation rate and changes in the quantity of money 2. Classify each of the following statements as positive or normative. Explain. a. Society faces a short-run trade-off between inflation and unemployment. b. A reduction in the rate of money growth will reduce the rate of inflation. c. The Federal Reserve should reduce the rate of money growth. d. Society ought to require welfare recipients to look for jobs. e. Lower tax rates encourage more work and more saving
- 1. Which of the following is NOT a normative statement? Select one: a. higher interest rates should lead to increased savings b. inflation is more harmful to Ghana than unemployment c. if its minimum wage falls, Japan will be a better place d. the benefits to the economy of improved equity are less than the costs of reduced efficiency 2. Which of the following is not necessarily an outcome of international trade? Select one: a. goods being obtained at lower opportunity cost b. people specialize in activities in which they have a comparative advantage c. all individuals within trading countries benefit d. more efficient resource use 3. If a 8 percent increase in income results in a 10 percent increase in the quantity demanded of lattes, what is the income elasticity of demand for lattes, and what type of good is lattes? Select one: a. negative, and therefore lattes are a normal good b. negative, and therefore lattes are an inferior good c. positive, and therefore lattes…1. Which of the following is not a normative statement?a. The military budget should increase at the same rate as GDP.b. The government should play a limited economic role, ensuring that private contracts are enforced.c. Integrated schooling has increased the level of literacy among minority groups.d. A tax on imported oil should be used to reduce the government deficit.Question: Which of the following is related to Microeconomics?[A] The size of national economy[B] Inflation[C] Unemployment[D] Behaviour of individual economic unitsPlease Dont use AI tool.
- 19. Which of the techniques is not employed in microeconomics? a. Models c. mathematics b.Dissection d.statistics _____20. Microeconomic Theory studies the economic behaviour of: a.Consumer c.Business firm b. A resource owner d. householdThe Three Questions of Economics Quiz Active D00000OO 1 Which of the following best illustrates the importance of addressing the three questions of economics? O People's desires and needs are always changing. O Businesses need to use limited resources wisely. O Traditional methods of production are outdated. O Businesses need to limit production. Mark this andreturn Save and Exit Next Subrnit13. Which of the following is a normative statement? a) Neil Armstrong was the first man ever to walk on the moon b) The Space Shuttle Columbia exploded in 2003 when it was re-entering the Earth's atmosphere c) NASA should send a shuttle to Mars to do more research on the planet. d) The International Space Station is a joint collaboration between many countries, including the United States of America, Japan and Canada. 14. In what type of economy will you see consumers buying what they like with money they have acquired from a wage or salary? I. Command syste I. Market system I. Mixed economy a) OnlyI b) Only II c) Both Il and II d) 1. Il and III