Q: Explain how national income is determined in a 3-Sector Economy ?
A: Economics is a branch of social science that investigates how economies produce and use goods and…
Q: Mia is a registered nurse. She has 18 hours per day to devote to labor or leisure, and has $20…
A: For maximizing utility, Mia has to select the combination of consumer goods and leisure that can…
Q: Depreciation can be regarded as all the following except a. An accounting concept b.…
A: A tangible item's cost may be spread out over the period of its usual useful life using the…
Q: Generally, the study of economics has to do with Question 24 options: How resources are not…
A: Economics is classified as a social science because it makes an effort to apply scientific methods…
Q: Changes in the money supply are important because There is a relationship between changes in the…
A: "Since you have asked multiple questions, we will solve first question for you . If you want…
Q: Describe how protectionism affects the price of the protected good in the domestic market? Who ends…
A: In order to defend their home nations against international competition, businesses often adopt a…
Q: The law of diminishing marginal utility states that.. price must be lowered to induce firms to…
A: Utility refers to the satisfaction derived from the consumption of good. The marginal utility shows…
Q: the beginning of the year, the economy has public debt (or national debt) of $470 million. This…
A: Public saving = tax revenue - government outlay Since, government outlays are the expenditure made…
Q: E1 Kazakhstan is a “small” country that cannot affect world prices. Their demand for coffee is…
A: A closed economy is known for its trade situations when the nation is not involved in international…
Q: What is the best example of an oligopolistic market? Question 4 options: Government monopoly…
A: A market structure known as an oligopoly has a small number of enterprises that are in fierce…
Q: How Cournot and Stackelberg models are different? In Cournot profits are zero and in Stackelberg…
A: Cournot competition refers to an economic model in which competing enterprises determine a quantity…
Q: Determine whether the scenarios below shift the short-run aggregate supply curve ("AS") or the…
A: Aggregate demand is the sum of Consumption, Investment, government spending and net export. Any…
Q: Given the following Multiple linear regression, where SHEL (Shell gas stock) price SHEL= 15-0.5…
A: Linear Regression gives and helps us to tell a linear relationship between the dependant and the…
Q: Labor Hours Needed to Produce One Unit Wheat Rice | Canada 2 4 U.S. 1 3 1. What is the opportunity…
A: Opportunity cost is the cost of producing one good in terms of other. Opportunity cost shows the…
Q: Assume that all participants in the following have an interest rate or discount rate of 10%. A firm…
A: The present value of the future cash flows that will result from investing equity is added up in…
Q: Match the following scenarios to whether they refer to an expansionary or contractionary monetary…
A: Monetary policy is used to control the money supply in the economy. There are two types of monetary…
Q: The price elasticity of pumpkin spice latte during Fall is -0.5. It follows that that a 5% decrease…
A: Price elasticity of demand shows the change in quantity demanded due to change in price. The demand…
Q: Economists disagree about how quickly the economy adjusts to an aggregate demand shock. In the view…
A: Aggregate demand is the total quantity of output firms will produce and sell at the end of the day,…
Q: Calculate the marginal utility per dollar of going from eight to nine DVDs. * To increase total…
A: Marginal utility is the additional pleasure a consumer receives from having one more unit of a good…
Q: 4. Game theory terminology Complete the following table by selecting the term best described by each…
A: In the economics field of game theory, rational player decision-making is investigated. It involves…
Q: Suppose the Fed decreases the discount rate. How does this policy affect the money supply? OIncrease…
A: Fed uses different tools to change the money supply in an economy. The change in money supply…
Q: Consider the supply and demand schedules in this figure (Qd=10-2P, Qs=3P). In autarky, what is the…
A: The exchnage of goods and services across borders is known as the international trade. Under free…
Q: Q COO 0 1 2 3 4 5 O 2; $30 The profit maximizing output level is 3; $25 4; $20 P 50 45 40 35 30 25 O…
A: Total revenue is the product of price and quantity. Marginal revenue is the change in total revenue…
Q: Safeway sells water for $2 a bottle or $18 for a box of 12 bottles. This is an example of third…
A: Price discrimination is the situation when a sellers chargers different price for the same commodity…
Q: When a monopoly is producing profit-maximizing quantity, what is the relationship between marginal…
A: The profit function of the monopoly is revenue minus cost. Where monopoly revenue function is a…
Q: A risk free private bond with a face value of 10,000 will mature in 1 year. If the market interest…
A: Given that the face value of a bond is 10,000 and the bond matures in 1 year means if somebody buys…
Q: The demand for Peet's Coffee over a week should be more elastic than the demand for Peet's Coffee…
A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…
Q: Ellie purchased a ticket for the Kanye West concert for $15. She waited in line for an hour to buy…
A: An opportunity cost refers to the cost incurred by an individual for foregoing the next best…
Q: binding (effective) price floor will
A: Here the price floor is the minimum price that a producer should receive for its product. A binding…
Q: an auditor and a taxpayer play the following strategic game. The auditor must choose hether to Audit…
A: The pure strategy nash equilibrium is the Nash equilibrium in which each player plays pure strategy.…
Q: The consumers in the economy buys only two general types of products: Apples, and Bananas. Price…
A: CPI is the consumer price index. It is calculated as :- CPI = (Cost of basket in current year ÷…
Q: Consider the following information for the U.S. economy in 2003 (figures in billions). Personal…
A: The expenditure approach of GDP measures: Gross domestic product is calculated as the sum of…
Q: The Santa Clara County increases the property taxes for all fast food restaurants. Which cost curves…
A: Here, it is given that there is an increase in the property taxes that is placed on all the fast…
Q: The commercial banking system has excess reserves of $3,000. Then new loans of $30,000 are…
A: Reserve are the part of deposit that is kept out of deposit by the banks. Multiplier = 1/r Where r…
Q: If the inverse demand curve is p - 150-3Q and the marginal cost is constant at $12, how does…
A: Given Demand function: p=150-3Q ...(1) Marginal cost MC=$12 Monopoly produces output at the…
Q: Suppose that the income elasticity of microwave ovens is 0.9. What would this imply for the product?…
A: Since you have posted multiple questions, we will provide the solution only to the first question as…
Q: a comparative advantage in orange production. an absolute advantage in orange production. a…
A: Mexico can produce either 200 bushels of oranges per acre or 200 bushels of bananas per acre.…
Q: 1. A regulator is charged with determining the length of a patent on new intellectual property, a…
A: Creations, works of art and literature, inventions, symbols, pictures and brands used in commerce…
Q: Public goods have all of the following characteristics EXCEPT: a.one person's consumption does not…
A: A private good is a good or service produced by a privately owned business and bought to increment…
Q: topic - Globalization: from groceries to god expalin about below the outlines - visions of the…
A: The word "globalization" describes how economies, cultures, and people throughout the world are…
Q: QUESTION 11 If a person pays to own a factor of production indefinitely then he or she must have…
A: Option C Purchase Price
Q: Lightweight personal locator beacons are now available to hikers that make it easier for the Forest…
A: Cost is the total of the factor payments made for the use of land and other assets during the…
Q: its inception and during its early days, the power of the Federal Reserve bank lay mostly O a. with…
A: The central bank F is one of the most powerful banking institutions in the world. Central bank F…
Q: Chatham Automotive purchased new electric forklifts to move steel automobile parts two years ago.…
A: EUAC or, Equivalent Uniform Annual Cost can be calculated by:EUAC = P(A/P, i %, n) - S(A/F, i %, n)…
Q: example of CPI in todays economy (2022) -exmaple of GPD in todays economy (2022)
A: The Consumer Price Index, which measures the total change in consumer prices over time, is derived…
Q: 19. Assume the monetary authority (The Federal Reserve) makes an open market sale. The interest will…
A: Monetary Policy: Monetary policy refers to the policy instruments with the central bank of a country…
Q: If a monopoly firm can price discriminate, it will charge a _______ price to consumers that have a…
A: Monopolist: A monopolist is a single seller in the market and hence he faces the downward sloping…
Q: Possibility A B C D Entertainment (E) (units) 90 60 30 0 Consider the above PPF. What is the…
A: In economics, the opportunity cost is the worth of what you have to give up in order to choose…
Q: As we hire more workers why does our marginal cost (MC) increase? a. Out of jealousy (of our growing…
A: Marginal cost is the ratio of change in the total cost and change in the output. MPL is the ratio…
Q: Suppose the the demand for a product is given by Qd = 40 − 3P , and supply by Qs = 5 + 2P Suppose…
A: Disclaimer- “Since you have asked multiple questions, we will solve the first three questions for…
Do you believe yesterday's Interest Rate Increase of 0.50% by the Bank of Canada was necessary? If so, why?
Step by step
Solved in 2 steps
- You deposit $3,000 in a bank at an annual interest rate of 7%. What will your bank balance be in 27 years?Say you wish to withdraw 10,000 pesos per year for 10 years starting next year. How much should you save now in a bank bearing an 8% interest rate?If $500 grows to $1,500 over a certain period and interest rate, what will be the present value of $9,000 under the same terms?
- Explain Simple Loan considering Articles 1953 to 1955 and 1980Your retirement account has a current balance of $56,500. What interest rate would you need to be earned in order to accumulate a total of $1,500,000 in 40 years, by adding $6,700 annually? Suppose deposits are made at the beginning of the year. Make sure to show your work.Fred takes out a loan for $1300 at an interest rate of 5% for a period of 5 years. Calculate the total amount that Fred must pay back at the end of the loan period. Round your answer to two decimal places
- Mary takes out a loan for $1000 at a simple interest rate of 5% for a period of 3 years. Calculate the total amount that Mary must pay back at the end of the loan period. Round your answer to two decimal placeshazel borrowed 100,000 and must repay a total of 130,000 exactly two years later. How much is the interest paid? what is the interest rate?How much should you invest in a 3.8% saving account compounded monthly in order to have a total of P68,185 after 7 years? Write your answer in two decimal places.
- 1) Calculate the value of a loan today that will be repaid with quarterly payments for a period of two years. During the first year, the quarterly payment is for $300, while in the second year, the quarterly payment increases to $400. Assume that the bank is charging an interest rate of 3% quarterly. Show your work.Which is the most desirable form of a lump-sum settlement?What are the characteristics (6)of money?