If the quality of a good deteriorates while its price remains the same, then the value of a dollar a. Rises and the cost of living increases b. Rises and the cost of living decreases. c. Falls and the cost of living decreases. d. Falls and the cost of living increases.
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If the quality of a good deteriorates while its price remains the same, then the value of a dollar
Rises and the cost of living increases
Rises and the cost of living decreases.
Falls and the cost of living decreases.
Falls and the cost of living increases.
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- Give typing answer with explanation and conclusion Which of the following illustrates goods markets? A. Maggie took an educational loan of $10,000. Safeway sells milk at $4.35 a gallon. B. Anna got a job with a public firm. Smith wants to take a vacation in December. C. Walmart sells potatoes at $2.14 a pound. Ann bought a new condo for $200,000. D. Banks have raised interest rates to 2.5 percent. Ryan enjoys playing chess.Explain any two of the problems in measuring the cost of living.Andy runs a small convenient store. He owns the place; he has hired a person for $8 per hour, 8 hours per day, 7 days a week. He works in the store himself for 3 hours per day. The utility cost $500 per month, the cost of buying and transporting the goods to his store is $3000 per month. The rent rate of the place is $2000 per month. A. What is his total monthly expenditure? B. What is his monthly opportunity cost?
- 8. What is economic?QUESTION 19 Which of the following is a microeconomic statement? OA The real domestic output increased by 2.3 percent last B. Unemployment was 6.5 percent of the labor force last year O C. The price of personal computers declined 4.7 percent last year OD. The general price level increased by 3.1 percent last year year QUESTION 20 Save All Answe Click Save and Submit to save and submit. Click Save All Answers to save all answers. DELLGross domestic product (GDP) figure gives an understanding of a marketť's Select one: a Economic environment Ob.Demographic environment c. Natural environment O0 d. Technological environment Next page
- a. Consider an economy which produces and sells, among a host of other things, 100 million T‑shirts a year. The average T‑shirt begins life when a farmer plants seeds she put away last year, waters them, and harvests the cotton, then sells the cotton to a mill for $0.75, which sells the fabric to a T‑shirt factory for $1.50, which sells its T‑shirts to a wholesaler for $5, who sells it to Nordstrom for $10, which finally sells it to you for $17. Determine the impact of T‑shirts on annual GDP by calculating the value added of the entire production process. b. Now, calculate the amount spent on T‑shirts in a year if 100 million T‑shirts are sold, each for $17. How does this compare to the amount calculated through the value‑added method?is the only factor of production that needs to be produced. O Human resource ●Capital O Natural resources O LaborWhich of the following is considered a factor of production? A) Money B) Labor C) Stocks and bonds D) Consumer goods Don't use chatgpt otherwise give 20 downvotes
- A firm produces a good and generates $6 million in receipts. Wages are $1 million, rent is $500,000, and interest payments are $1 million. Then A. profits are $3.5 million, the cost of production is $6 million, and households receive income equal to $6 million. O B. profits are $1.5 million, the cost of production is $6 million, and households receive income equal to $2.5 million. C. profits are $500,000, the cost of production is $2.5 million, and households receive income equal to $4.5 million. O D. profits are $500,000, the cost of production is $5 million, and households receive income equal to $4.5 million.G, 8 Economics41. Ahmed is a new student in the economics course. On the first day of the course the teacher told him about Micro and Macroeconomics in detail. Which of the following illustrates Micro and Macroeconomics? a. All of these. b. Study of the individual consumer is Microeconomics and the study of all consumers are Macroeconomics c. Study of one product is microeconomics and study of all products are macroeconomics d. Study of one person’s income is microeconomics and study of national income is macroeconomics
