According to the principle of , consumers determine what is produced in the economy through their purchasing decisions.

Q: 2. The following hypothetical table is John's demand for pandesal from Dec 2016 to January 2017 give...

A: The economics as a study is based upon the basic idea of scarcity, or the limit present to the amoun...

Q: Which one of the following is the definition of 'normal output? Select one: O a. Output that is cons...

A: Output is the resultant of a production process. 

Q: PART A.) Decide which of the following machines should be selected (if one of them MUST be selected)...

A: Note:- Since you have asked multiple question, we will solve the first question for you. If you want...

Q: A firm’s own MAC function = -29Q + 298. Suppose the emission tax is $95/ton/month. a. Draw the...

A: please find the answer below.

Q: what is Regressive Tax System in economics?

A: A regressive tax system refers to the system of taxation where tax rate and taxable amount are inver...

Q: Consider the following scenario. Aggregate output y at date t is specified as follows, where the tre...

A: Output Equation in the economy - yt = πt - πte + y⏞ Where πt = Actual inflation rate , πte = Expecte...

Q: Use diagram to illustrate the Slutsky income and substitution effects of an increase in the price of...

A: The question says about the effect of income and substitution effect due to an increase in the price...

Q: Suppose we have an economy with two sectors, wood and paper. • In order to produce $1 of wood, we us...

A: Internal demand for wood = Amount of wood we need to produce wood + Amount of wood we need to produc...

Q: Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its population was 150 mill...

A: GDP(gross domestic product) per capita is obtained by dividing the GDP by population. It is useful t...

Q: Table: Employment Data Full-time employed Not working but looking for work Part-time employed Discou...

A: Labor force equals total workforce in employed as well as unemployed workers. 

Q: Practice questions 1. Given a firm's total cost function as = 12 + 60Q- 15Q² +Q³ Suppose that the fi...

A: The firm has to incur the cost while producing goods and services. Costs are divided into many parts...

Q: 1 Country Cassava Fish Forest Land 10 Sandy Isle 15 10 The above data show the production for two co...

A: The table gives maximum amount of each good that can be produced if all the inputs were allocated to...

Q: How can you use ideas of globalization to support sustainable access to food?

A: Globalisation's greatest benefit, however, is the sharing of agriculture and production practises an...

Q: Use the information below to find the missing information. Chase Bank Liabilities Assets Total Reser...

A: The reserve ratio is the portion of reservable liabilities that commercial banks must hold onto, rat...

Q: What is average fixed cost? O the price of a fixed factor of production the total cost divided by th...

A: please find the answer below.

Q: On the Virus island the inverse demand function for masks is given by the formula P=360-Q, where P -...

A: We know that price is determined by the market forces demand and supply curve at its intersection at...

Q: Construct a well-labeled diagram of supply and demand in the market for loans that depicts an equili...

A: Introduction Credit rationing has decided by Fed. They fixed or limit credit in the market for diffe...

Q: Suppose Tom is 20 years old. He works till 50 years old, retire, and live up to 80 years old.  Whil...

A: The age of tom = 20 years Total working-age = 50 -20 = 30 years Total not working age = 80 - 50 = 30...

Q: Exercise 1 Consider the following scenario. Aggregate output y at date t is specified as follows, Yt...

A: Output Equation in the economy: yt = t -te + y⏞ Where, t = Actual inflation rate ,  te = Expected In...

Q: Question 22 Which of the following is included in the government purchases category of gross domesti...

A: Answer: The government purchases category of GDP includes the spending of government to purchase goo...

Q: Deflation typically occurs when O a) the overall level of prices falls. b) all prices in the economy...

A: Inflation is the consistent rise in general price level over period of time . And deflation is the j...

Q: With the table started as indicated below, calculate the cell indicated as an Qx stands for quantity...

A: Given; Price of variable input= $3000/unitPrice of output= $150/unitTFC= $7500  

Q: Question 4 4.1 Assuming that, due to the Covid 19 pandemic, people's marginal propensity to save inc...

A: The worldwide lockdown caused by the covid - 19 epidemic resulted in a significant change in people'...

Q: Suppose the real interest rate is 0%. Daniel worked for 60 years and he retired for 20 years. When D...

A: Savings at retirement=Earning till retirement-Consumption till retirement

Q: 5.1 Suppose an economy's production function is Y = AK"L1«. If the annual rat conomic growth is 4.5 ...

A:

Q: True or false? The guaranteed income model encourages workers to work more. Select the correct answe...

A: The monetary worth of an entity's consumption and saving opportunities over a given time period is r...

Q: 1. Use ȘI model to graphically analyze the impact on China due to (a) A pessimistic world investment...

A: 1(a). The pessimistic world investment climate will leads to lower aggregate demand in the foreign c...

Q: ble: Price Levels 221.3 227.7 232.2 234.8 2011 2012 2013 2014 ference: Ref 8(23)-9 Table: Price Leve...

A: CPI is measured using fixed basket of goods. 

Q: Question 20 prices. Nominal gross domestic product (GDP) is GDP measured in O a) base O b) current O...

A: GDP is the value of all the goods and services in an economy at a given point of time. GDP is broadl...

Q: If Mary Smith withdrew $100 from her savings deposit at Bank of America and kept it as cash,   Gro...

A: The economics as a study is based upon the idea that the resources which are present with the econom...

Q: how smart growth is making cities more sustainable.

A: Macroeconomics is a branch of economics which is important for a country. Aggregate demand and aggre...

Q: A newly constructed water desalination plant costs $5.3 million, and has a capacity to supply 2,658 ...

A: Maintenance cost represents all expenses that are the result of your efforts to keep physical assets...

Q: Which of the following statements about the Bipartisan Campaign Reform Act is true? Select the corre...

A: The McCain-Feingold Act is one of the few government regulations that manage the financing of politi...

Q: Find the missing marginal utility: Quantity 3 8 Total Utility 30 55 67 Marginal Utility 10 5 |12 4 5...

A: Utility: - Utility is the satisfaction derived by any consumer by consuming a good or service.

Q: Provide a plausible explanation, using a demand-supply graph, for each of the following outcomes: 1....

A: 1. Below graph shows the increase in the quantity of Pepsi from Q to Q1 and the increase in price fr...

Q: What is keenness to consume in economic development?

A: Consumption is distinct from consumption expenditure, which is the purchase of products and services...

Q: FIGURE 7-2 $100 90 80 70 60 50 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to Figure 7...

A: please find the answer below.

Q: 3. Two countries, Taiwan and Korea, produce two goods, avionics and integrated circuits (ICs), using...

A: There are two countries : Taiwan & Korea  Produce two goods : Avionics & ICs  Both countries...

Q: Explain how Milton Friedman's economic views differed from those of Keynes and explain why more rece...

A: John Maynard Keynes, a revolutionary economist of the 1930s, had published his book, "General Theory...

Q: Assume that the MC of producing steel does not include the cost of the damage to the environment as ...

A: In the market, it is given that the marginal cost of producing steel does not include the damage it ...

Q: Which of the following statements is correct regarding valuation of the benefits of abatement? A) G...

A: The price method that determines the internal as well as external factors that affect the prices of ...

Q: Average Product of Labor Marginal Product of Labor Average Variable Cost Average Fixed Cost Average ...

A:

Q: How can natural resources conflicts be prevented

A: Natural resources are the resources that are used by people and businesses. People use natural resou...

Q: d. Suppose the Mayor of Celltown institutes a price floor of P = $250 in order to promote the new te...

A: Price floor is the minimum price that a buyer can purchase for the good and it is set by the governm...

Q: P P=7 lo=7 On the following diagram, if there is a $3 tax imposed on buyers, what is the tax burden ...

A: In the given figure, the initial equilibrium is achieved at price of $7 and quantity of 7 units. 

Q: PART B.) Decide which of the following alternatives should be selected (if one of them MUST be selec...

A: Introduction: Operating costs are involved with the day-to-day maintenance and management of a firm....

Q: Labor unions help negotiate with workers as a group rather than individuals. These negotiations betw...

A: Labor Unions help negotiate with workers as a group rather than individuals. 

Q: FIGURE 7-3 $100 90 80 70 40 30 20 10 1 2 3 4 5 6 7 8 9 10 Quantity of Output Refer to Figure 7-3. Wh...

A: please find the answer bThe marginal cost (MC) curve is calculated by dividing the change in total c...

Q: Which of the following statements best describes the Diminishing Returns to Labor: Select one: Oa. W...

A: Diminishing Return to labor:- Diminishing returns to labour, or principle of diminishing marginal pr...

Q: What is Ann's maximin strategy?    Game                      Bob                          L    ...

A: Answer -