Recent Economics Questions & Answers
The value of a country's GDP exceeds that of the country's GNP if the value of the: output produced by foreign workers in the country exceeds the value of output produced by the country's permanent residents in other…Sign Up
1 Use the following three graphs to answer the questions that follow. (Note: You will not be graded on any adjustments made to any of the three graphs.) United Kingdom PRICE (Dollars per toy) 0 200 400 600 800 QUANTITY (Toys) 1000 1200 Canada PRICE…Sign Up
Use the following supply and demand schedules for coats to answer the questions below. Price (SR) Quantity demanded Quantity supplied 80 50 110 70 60 90 60 70 70 50 80 50 40 90 30 a. Find the equilibrium price and equilibrium quantity and draw a…Sign Up
The U.S. stock market has returned an average of about 11% per year since 1900. This return works out to a real return (i.e., adjusted for inflation) of approximately 88% per year. a. If you invest $85,500 and you…Sign Up
The US Office of the Trade Representative, which is the arm of the government that helps negotiate trade agreements and settle trade disputes with other countries, provides the following statement on the benefits of trade to the US economy:…Sign Up
upie IUILLS muy appeal to DC COITCLL. 1. Which of the following best defines time inconsistency of policy? A. The increasing inaccuracy of econometric models as the time horizon becomes longer. B. The tendency for the rise in output to be greater in…Sign Up
The United Nations' Human Development Index measures other forms of well-being such as health and education. a. True b. FalseSign Up
U LIL 5. Regardless of the statutory incidence of a commodity tax, the economic incidence of the tax is: entirely on buyers if supply is perfectly inelastic. entirely on buyers if demand is perfectly inelastic. entirely on buyers if demand is…Sign Up
We are trying to maximil endogenous and which are exogenous? i tch Question 6. Ide hastity In his utility function we are trying to minimit endogenous and which are exogenous and budget constraint 7, 0 0 ileshleyin utility which variables are h…Sign Up
TOWUJUVOR CENGAGE MINDTAP a sea Homework (Ch 09) The following graph shows the domestic supply of and demand for wheat in New Zealand. The world price (Pw) of wheat is $250 per bushel and is represented by the horizontal black line. Throughout the…Sign Up
are thete philosophical,politics or economic issues associated with nudges?Sign Up
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Text FTODIEMT 2U-IZ Que Quantity of Subscriptions to Office Productivity Apps per Quantity of Subscriptions to Economics Statistics Apps per Year Total Utility (utils) Total Utility (utils) Year 1 30 1 600 2 50 2 1,100 3 60 1,500 1,800 4 68 4 72 5…Sign Up
Text Exercise 6.1 E Question Help inverse demand curve A monopoly produces a good with a network externality at a constant marginal and average cost of $3 In the first periods p=11-10 In the second period, its inverse demand curveis p=11-10 unless it…Sign Up
The table below shows data for the production of avocados for an individual firm operating in a perfectly competitive market. Quantity of avocados Total Revenue Total Costs 0 0 10 10 60 30 20 120 40 30 180 60 40 240 90 50 300 130 60 360 180 70 420…Sign Up
TABLE B.1 Present Value of 1 p=1/(1 + i)” Rate Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 15% 0.9901 0.9804 0.98030.9612 0.9706 0.9423 0.9610 0.9238 0.9515 0.9057 0.9420 0.8880 0.9327 0.8706 0.9235 0.8535 0.91430.8368 0.9053 0.8203 0.8963 0.8043…Sign Up
Suppose that in the market for widgets, the supply curve is the typical upward-sloping line, and the demand curve is the typical downward-sloping line. A tax of $7.00 per unit is imposed on widgets and the price rises by $4.75. The equilibrium…Sign Up
Suppose you are looking at the market for radio advertising. Three variables are given to you: the price of advertising, the quantity of advertising, and the extent of financial meltdown precipitated by the sub-prime market fiasco. Which…Sign Up
Suppose the initial GDP expenditure components are as before: C= $3,000; 1 = $1,000; G = $1,500; Exp = $300; Imp = $800 (in thousands) The following additional transactions occur: • Computer Inc. located in Michigan produces and sells $50…Sign Up
Suppose the following exchange rates and interest rates prevail between the U.S. and Botswana: Spot rate: $1 = 10.70 Botswana pula…Sign Up
Suppose all firms in a given industry have the same supply curve given by S(p) = p/2. a) Plot and label the four industry supply curves generated by these firms if there are 1, 2, 3, or 4 firms operating in the industry. b) If all of the firms had a…Sign Up
Suppose that costs fall, so that C(q) now equals 2q; demand doesn’t change. a) What is the perfectly competitive long-run equilibrium price and quantity? b) Suppose the market is served by a monopolist, what is the long-run equilibrium price…Sign Up
Suppose that you borrow $1000 at an interest rate of 5%. You expect the inflation rate to be 2% next year. What is the real interest rate you will actually pay if the inflation rate is -2%?Sign Up
Summary Infor mation Below In Your Own Words This large-scale program has successfully developed a model to deliver hands-on science lessons to elementary school children by college STEM majors. The program was implemented as result of the strong…Sign Up
The story began in 2009, Meredith Boucher was a ten-year employee and assistant manager at a Wal-Mart in Windsor. She won many awards for her work and saw a bright future in the company, until she became the target of abuse by her former manager,…Sign Up
Stephen decides to operate a painting business out of his home. Which of the following types of costs would represent fixed costs and variable costs for his painting business? Drag each item on the left to its matching item on the right. Note that…Sign Up
In the steady-state, K ̄t = Kt. Provide a necessary condition on θ and β for economic growth to occur in the steady-state? Explain……(15 points)Sign Up
Solve each of the following optimization problems. a. (4 pts.) A drug company sells an over-the-counter medication in a perfectly competitive market, where the price is p = 24. For each of the following cost functions, write down the…Sign Up
Select a product you are familiar with. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your…Sign Up
In this section , you are required to discuss and evaluate your strategic business planning and decision-making in the Comp XM Activity. In particular, you need to discuss the success, or not, of your performance in the R&D, Marketing,…Sign Up
SECTION NAME_ PRINT LAST NAME, FIRST NAME MARKET EFFICIENCY NA Use the graph below to fill in the blanks. Price (5) Supply Demand 0 100 200 300 Quantity 1. Equilibrium price is $ and equilibrium quantity is 2. In equilibrium, consumer surplus is…Sign Up
Sam and Sharon produce the same homogeneous product. Market demand is P = 80 – 4(qE+qS) where qE is Sam's output and qS is Sharon's output. Neither firm has any costs, so in that respect business is good. The problem is, they…Sign Up
The “richest” or “most-developed” countries today have many times the per capita output of the poorest” or “least-developed countries. a. True b. FalseSign Up
You are required to select an actual company in your island or territory. For the selected company, identify a particular issue/problem which may be affecting the company. Formulate a research question for the selected issue/problem. Using the format…Sign Up
A relatively steep demand curve indicates that a. quantity demanded will adjust only slightly to a price change b. quantity demanded will adjust a lot to a price change c. quantity demanded will adjust not at all to a price change will…Sign Up
Refer to the graph shown. If this monopolist were allowed to choose the profit-maximizing level of output, it would charge a price of: Price $20 —- Demand ATC MC I'MR 200 200 400 QuantitySign Up
Real GDP per capita is calculated by dividing the value of real GDP for a country by the country's adult population. True FalseSign Up
Real GDP is a highly accurate measure of the economic welfare of a nation. a. True b. False oSign Up
Ralph and Sonia both obey the two-period consumption/saving model. Ralph earns $100 in the first and $100 in the second period. Sonia earns nothing in the first period and $210 in the second period. Both can borrow or lend at the given real interest…Sign Up
Please, help with this question. Thank you. (R&G) Suppose that A and B must split a fixed 800 kilograms of food between them. A's utility function is UA = VFA and B’s utility function is UB = IVFB, where FA and FB are kilograms of…Sign Up
quulilly wellianded is greater than the percentage change in price. 11. What are the determinants of the elasticity of supply? 11. If hot dogs and relish are complements, their cross elasticity of demand is: 12 A 2019 Range Rover will most likely…Sign Up
Questions 7-9 are based on the following scenario. Suppose an individual has wealth of $250,000 and utility function (W) = -5. Note: The inverse function of U(W)=is W=U2. But the inverse function of U(W)–5 is not exactly W=U. Figure it out. There is…Sign Up
Question 84 (25 Points) Arsk averse consumer whose utility is given by U(W) = and wealth is $50,000 is faced with a potential loss of $10,000 with a probability of 01. (a) What is the maximum premium they would be willing to pay to protect themselves…Sign Up
Question 2 0/1 pts Ray has been offered a 7-year work assignment in Portugal. Hence, he will rent out his four-bedroom house in Houghton to an old friend while he is abroad. Ray's rental income will be 12,833 dollars per year, but…Sign Up
how to slove this Question 14 0.6/0.6 pts Suppose that you borrow $1,000 at an interest rate of 6%. You expect the inflation rate to be 2% next year. What is the real interest rate you will actually pay if the inflation rate is 4%?Sign Up
Question 1 5 pts Of the developing countries in the post World War II era, it was common to combine “market economy and democracy” or “planned economy and totalitarian-authoritarian state.” There were exceptions, one of which was _____. Group of…Sign Up
Question 1 3 pts Mill's textbook Principles of Political Economy was published in: O 1847 1848 O 884 1849 Question 2 3 pts Mill's textbook was heavily influenced by: Jean-Baptiste Say • David Ricardo Adam Smith Ricardo Montalban…Sign Up
Q3 Consider the Bertrand duopoly model with differentiated products. Firm l's demand function is 91 = 1/2-(P1-P2/3, and Firm 2's demand function is 92 – 1/2 – (P2-P1)/3. Firms have identical marginal costs c>0. a) Derive…Sign Up
Q2 Consider the following demand function, p 5 Q, Q + 92, where qi denotes firm i's output, i 1,2. Assume that the cost of Firm 1 is given by cq and the cost of Firm 2 is given by cq2, where c is a positive parameter. Firms choose quantities…Sign Up
Q1 A- Suppose both supply and demand in a market are relatively inelastic. Will a tax placed on the product in market generate a relatively large or small deadweight loss? Why? B- 2. If the world price of a good exceeds the domestic price of the…Sign Up
PU TUMCwork 1. Is equilibrium always at an animal level of outputP Explain your answer, 2. Why does the slope of the aggregate supply curve change from the short run to the long run? Sign Up