Which of the following is NOT true about poverty? O 1. According to the UN, the line of poverty is living conditions below $1.90 per day. O 2. Community ties, cultural values, or availability of common resources are also included in the consideration of poverty O 3. The fight against poverty is one of the purposes of the United Nations. O 4. Poverty refers to a situation suffered by people who are not able to meet their material and non-material needs O 5. Poverty only refers to the lack of money and other material needs.
Q: TRUE/FALSE. Brietly explain your answer. a) The real business cycle model is very helptul because we…
A: Monetary policy is a bunch of activities that can be embraced by a country's central bank to control…
Q: ...... are more than just names and symbols. product quality packaging micromarketing product…
A: At the marketplace, different terminologies are used to explain different situations such as…
Q: Suppose the production process for running shoes is given by q = 10KL where q is the number of pairs…
A: A production function in economics describes the technological relationship between the quantities…
Q: Part 3 : Answer the following questions below. If graphs are being asked, provide the correct graphs…
A: The tragedy of the commons is an economic situation in which everyone has an incentive to consume a…
Q: 2), Airbus and Boeing, in the market. Each firm’s cost is MC=AC=20. The market demand is Q=100-(1/2)…
A: Cournot competition is an economic model in which competitors independently determine production at…
Q: Suppose that a new Central Bank’ chair is appointed and his/her approach to monetary policy is that…
A:
Q: Which of the following are macroeconomic issues? (Select all that apply.) Where will Google locate…
A: inflation , GDP , growth , Per capital income , exchange rate , money supply , poverty etc are the…
Q: Explain the relation between average variable cost and marginal cost for both the short-run and…
A: Cost Curves show the relation between the costs that a firm incur in the process of production and…
Q: i in Economics the question How much would the output contribute to GDP if the product were imported…
A: GDP refers to the Gross Doestic Product. It is the value of final goods and services produced in the…
Q: Julie owns and operates a clothing store in Topeka which sells t-shirts with graphics from popular…
A: Here, it is given that the taste and preference of consumers changes as they no longer consider the…
Q: An article in The Wall Street Journal discusses a trend among some large U.S. corporations to base…
A: When there is a usual conflict of interest between the principal and the agent as a result of the…
Q: Consider the following production functions and match them to the word that describes their returns…
A: When considering the production function and test their returns to scale. We multiply the production…
Q: At the start of the week, Marie decides to buy a pie. Does this imply that the utility she receives…
A: Budget Organizations, Governments, and individuals utilize budgets to calculate revenue and…
Q: Price of wine Price of coffee 2021 $5 $5 2022 $9 $6 Assuming that wine and coffee…
A: Inflation basically refers as the rate at which prices rise over time. Inflation is usually defined…
Q: Using the dynamic aggregate demand and aggregate supply model, illustrate and explain the impact of…
A:
Q: Part 2 : You are examining a firm that is under a perfectly competitive market. Show all necessary…
A: Some of the basic concept that is necessary to solve the above problem: Profit = Revenue - Total…
Q: Economics Q: a salesperson preparing an agreement to lease a condominium must explain to the tenant…
A: Amenities are defined as a desirable or helpful component of a building or area. It aims to give…
Q: The CPI might overstate inflation because consumers may shift consumption to cheaper alternatives.…
A: Consumer price index measures the overall price of market basket of goods and services that is…
Q: f the current unemployment rate is 8% and the natural rate of unemployment is 6%, what do we know…
A: The natural rate of unemployment is the lowest level of unemployment that an economy can sustain…
Q: A firm's long-run total cost curve is TC(Q)= 1000Q - 30Q² + Q³. Derive the expression for the…
A: Average cost refers to total cost per unit of output. Marginal cost refers to change in total cost…
Q: 3. What are some differences between the gift economy and the exchange economy?
A: In economics, one studies different types of economies and their nature according to the differences…
Q: The cost of the basket of goods in a particular year was $78.00 while in the base year the cost was…
A: In the measurement of an economic activity or an economic index, a base year is utilised for…
Q: You deposit $2000 in an account earning 8% interest compounded continuously. How much will you have…
A: When you earn compound interest, you earn interest on both the money you've saved and the money…
Q: Unemployment rates are spread evenly over segments of the population in different education…
A: When an individual is not working and earning income, and do not have any job, then he is called…
Q: b. Supposed that your friend is an owner of a lake that grows and harvests Bangus (Milkfish). A…
A: The tragedy of commons: It refers to a situation under which more people are indulged due to which…
Q: Suppose the Solow model describes an economy. The population grows at a 0.5% rate, and its labour…
A: Introduction We have given Solow model. Here population grows at 0.5% rate. Labor efficiency grows…
Q: Suppose the production function for a product is given by q = 100KL. If the price of capital is $81…
A: Given: Production Function : q=100KL Price of capital (r) = $81 per day Price of labor (w) = $27…
Q: A new office building has been constructed at a cost of $3,000,000. It is estimated to have a life…
A: Given. Repair cost in year 10 = $80,000 Repair cost in year 20 = $80,000 Repair cost in year 30 =…
Q: Instructions Solve the given problem on a clean sheet of paper. Upload your answer sheet showing…
A: Given; Crane can be sold for ₱800000 If the crane is kept in service; Immediate maintenance costs=…
Q: Part 4 : Identify and match each good below depending on the type of good (private, public, common…
A: Public goods are provided by the government for use by the common public without charging any price…
Q: Part 1 : Answer the following Games below. For each game below, please illustrate and show how the…
A: "In game theory, a payoff matrix depicts the possible payoffs of the players resulting from each…
Q: Which of the following are macroeconomic issue Where will Google locate its next facility? How will…
A: Microeconomics deals with the study of the individual consumers, and individual firms. For example,…
Q: Look at the table below reporting unemployment data about the population of SuperbCity in 2001,…
A: People who are working and people who are willing, able and actively looking for a job are part of…
Q: What do the authors mean by "insulate the FOMC from the political process"? Which politicians is the…
A: FOMC is the federal open market committee that works to implement monetary policy in the economy.
Q: theories to explain: a) Why Use the consumption the consumption follows strictly the income changes…
A: A business cycle is a pattern of changes in the Gross Domestic Product (GDP) around its drawn out…
Q: 4. Specialization and trade When a country has a comparative advantage in the production of a good,…
A: Comparative advantage refers to the ability of the country or person to produce the good at a lower…
Q: The equilibrium output level in the country of Plutonia is $44 billion, while its potential output…
A: The central bank of the economy conducts the monetary policy in order to bring back the economy to…
Q: 1. Ben and Jerry are two partners-in-crime, who have robbed a bank. Ben got caught and is questioned…
A: We have given payoff matrix for Ben and Jerry.
Q: Refer to the table below for a very simple economy producing three goods: movies, pizzas and cars.…
A: GDP is the value of final goods and services produced in the economy within a given period of time.…
Q: Which of the following document is NOT a part of the International Bill of Human Rights? O 1.…
A: The United Nations' five key human rights treaties make up the International Bill of Human Rights,…
Q: (Use the game theory concept in microeconomics) A particular situation can be explained as follow.…
A: Answer -
Q: Assume that you are a wealthy investor, which one do you prefer mutual funds or hedge funds? Why?
A: Mutual fund and multifaceted investments are overseen portfolios worked from pooled assets fully…
Q: If the economy is initially in equilibrium and aggregate supply declines, then in the long run the…
A: at long run equilibrium economy reaches at full potential output level where SRAS=AD=LRAS. and short…
Q: Assume that the demand curve for romance novels has a negative slope. If the price of these novels…
A: Downward sloping curve means that there is inverse relationship between variables . Demand is…
Q: Ricardian Model. Consider two countries: A and B. Labour is the only factor of production for goods…
A: Introduction We have two countries: A and B. Labor is the only factor of production for goods X and…
Q: All of the following are examples of public sector projects, except Select one: O a Prisons O b.…
A: Introduction Public sector project Public goods are those goods which are non rival and non…
Q: Review the lifestyle and life-cycle determinants of tourism demand that affect the travel patterns…
A: The life cycle phase is consistently an essential determinant in tourism demand because individuals…
Q: 11. Suppose that the demand and supply functions for three related goods are:
A: The supply curve shows the positive relationship between price and quantity supplied. The demand…
Q: In an hour, Megan can produce 5 fruit smoothies or 15 ice cream sundaes, w Jensen can produce 17…
A: A country is said to have comparative advantage if it can produce the good at lower opportunity…
Q: So, in both cases, the chef would be doing the baking and cooking?
A: The theory of comparative advantage is based on opportunity cost.
Step by step
Solved in 3 steps
- Statement 1: One of several World Trade Organization's primary missions is to promote improved living standards, job growth, and social and economic development and progress. Statement 2: The United Nations is usually considered as the lender of last resort for nations with troubled economies. Statement 3: World Bank is responsible for policing the fair international trade. O Statement 1 is correct but statements 2 and 3 are incorrect. O Statement 3 is correct but statements 1 and 2 are incorrect. © Statement 1 is incorrect but statements 2 and 3 are correct. O All statements are correct. O All statements are incorrect.An Alaskan cement company is expanding operations in North, Central and South American markets. The firm has been buying cement producers in Mexico, Panama, and Colombia. What kind of investments are these purchases? Select one: O a. non-equity regional expansion O b. foreign greenfield investments O c. foreign contractual agreements O d. acquisitions Licensing agreements enable energy and defense firms to enter nations that restrict the foreign ownership of businesses related to national security. Select one: O True O False The International Monetary Fund was created through the Bretton Woods Agreement as a way to monitor the foreign exchange systems and lend money to developing economies. Select one: O True O FalseChina Steel Toys United States Steel Toys A 8 0 A 16 0 6 10 B 12 12 C UI 4 20 C 8 24 D 2 30 D 4 36 E O 40 E 0 48 1. Which country has absolute advantage in the production of steel? 2. Which country has absolute advantage in the production of toys? 3. Which country has comparative advantage in the production of toys? 4. Which country has comparative advantage in the production of steel? 5. If the two countries specialize and trade with each other, which country will import steel?
- 5. Suppose that the comparative-cost ratios of two products- baby formula and tuna fish-are as follows in the hypotheti- cal nations of Canswicki and Tunata: Canswicki: 1 can baby formula = 2 cans tuna fish 1 can baby formula = 4 cans tuna fish Tunata: In what product should each nation specialize? Explain why terms of trade of 1 can baby formula = would be acceptable to both nations. 25 cans tuna fishQUESTION 22 P COUNTRY 1 25 20 15 10 5 d1 Q 0 0 3 6 9 1215182124 s1 IP INTERNATIONAL MARKET 25 20- 15 10- LO P 5 S2 P 0 0 3 6 9 1215182124Q 25 20- S1 15 IP 10 D2 5 D1 0 COUNTRY 2 ⠀⠀ 22. What is the net welfare gain from trade to the economy of country 1? (hint: the formula for calculating the area of a triangle is 1/2 times the base times the height) a) 3 b) 6 c) 9 d) 13.5 e) 18 s2 IP d2 0 3 6 9 1215182124QQuestion: Which of the following statements is FALSE? The Law of One Price O a. fails to explain why governments do not practice free trade and many markets are imperfectly competitive. b. posits that a product that is easily and freely traded in a perfectly competitive global market should have the same price everywhere, once the prices at different places are expressed in the same currency. O C works well for heavily traded commodities such as gold, crude oil and agricultural commodities. O d. does not hold closely for most products that are traded internationally because international transport costs are not negligible. does not hold closely for most products that are traded internationally because governments do not practice free trade. Oe.
- 15. Consider the case of two countries, Mauritius and South Africa, both producing rum and cloth. If all resources are fully and efficiently employed, one worker in Mauritius can produce 270 units of rum or 30m of cloth per week, while one worker in South Africa can produce 320 units of rum or 40m of cloth per week. Rum Cloth Mauritius 270 30 South Africa 320 40 Based on this information: A South Africa has an absolute advantage in the production of rum only. В Mauritius should import rum from South Africa. Mauritius has a comparative advantage in the production of cloth. South Africa should export cloth to Mauritius.A= C+1 45 Y. Yo Y1 Which one of the following statements is false? Y1 represents the equilibrium level of income. The curve labelled A = C +1 shows the total of consumption and investment spending. The curve labelled C shows the total of autonomous and induced consumption spending. The point labelled D shows where savings equal investment. A. C. 2. In macroeconomic theory, total or aggregate spending is denoted by A and total or aggregate production of income by Y. Which one of the following statements is incorrect? When A is greater than Y, there is disequilibrium and Y will tend to increase. When A is equal to Y, there is equilibrium and Y will remain unchanged. When A is less than Y, there is disequilibrium and Y will decrease. When A is greater than Y, there is disequilibrum and A will decrease A. 1012. For a company that produces candy canes, sugar is 70 percent of its ingredient costs. The United States limits the imports of sugar to protect cane farmers, which has led to an increase in the price of sugar by about 25 percent relative to what it would be otherwise. Suppose your country, however, allows free trade in candy canes, which are made with sugar that accounts for approximately 65 percent of its cost. What is the effective rate of protection on the process of turning sugar into candy canes?
- Question 10 Hot Dogs 60 50 25 20 Pb-3/4 Country 1 d 50 60 90 100 3/4 Hot Dog for 1 Hamburger 1/2 Hot Dog for 1 Hamburger 1 Hot Dog for 3/2 Hamburger O 1 Hot Dog for 3/4 Hamburger Hot Dogs Pa 1/2 120 110 70 8 Hamburgers What are the terms of trade between the two countries? Pa=3/2 b' Country 2 10 d' 20 40 Pb' 3/4 HamburgersWhich of the following is true about BRIC countries: a. There is low prospects of growth O b. To attain raw materials you will outsource to Bangladesh O c. There is low investment O d. There are high growth rates which may not be seen in North America Google is pursuing a global brand web strategy and must be mindful of the cultural and language differences across countries. Select one: O True O False occurs when a company exports to a foreign market at a price that is either lower than the domestic prices in that country or less than the cost of production.What factors does Paul Krugman identity that supported expanding international trade in the 1800s?