The primary reason that living standards in some countries are higher today than they were a century ago is that O a. Human capital has increased O b. physical capital per worker has increased O c. more productive natural resources have been discovered Od technological knowledge has increased
Q: Activity 2: Taxes and Salary are related to one another when it come to purchasing power which…
A: The worth of a currency is stated in terms of the number of commodities or services that one unit of…
Q: Let S represent the amount of steel produced (in tons). Steel production is related to the amount of…
A: Given input prices W=50 and r= 100
Q: How to construct a Ad, SRAS and LRAS curve for economy with.. full employment Economic boom A…
A: LRAS is vertical at full employment. There is an economic boom when more than full employment output…
Q: Discuss the Urbanization in the Philippines and Land Reform.
A: Urbanization is that the process by which cities expand and increasingly large portions of the…
Q: #4 Use the IS-MP model to show what happens when the Federal Reserve raises the federal funds…
A: Note: We will answer the first question as the exact one was not specified. Please resubmit the new…
Q: The graph below shows the daily demand for entry into the downtown core of a major city by commuter…
A: "Since you have posted a question with multiple sub-parts, we will solve the first three subparts…
Q: 9) Describe and illustrate the difference between perfect competition and monopolistic competition…
A: There are different prevailing market forms in the economy. Perfect and monopolistic market forms…
Q: Nicanor's passion is good wine. If the prices of the other goods are constant, Nicanor's demand for…
A: Substitution effect refers to that component of change in demand of a good which is not a…
Q: (9) Suppose the market for tennis shoes has one dominant firm and five fringe firms. The market…
A: Q=400-2P Dominant firm's MC = 20 MC = 20+5q
Q: A monopolist's demand function is given by D(p) = 90 – 2p. This monopolist is facing a cost…
A: D(p) or y = 90 − 2p p = 45 - 0.5y C(y) = (1/2)y2 + 600 TR = p*y TR = 45y - 0.5y2
Q: ordered from poorest to richest, and Y is the cumulative percentage of income, then equality of…
A: For Gini Coefficient we need to find are A & Area (A +B ) . Where , area A =ar (A + B) - arB…
Q: Which is smaller in value, a $7,500 tax deduction or a $7,500 tax credit? Explain why. Please No…
A: A duty derivation is more modest in esteem and the assessment that you would be paying is more. A…
Q: 4) In order to make a replacement decision, a firm calculated the equivalent annual cost of owning…
A: Annual Cost is the cost of utilizing the estimated units of cost of living in a particular unit. It…
Q: A. In a market situation where supply exceeds demand, which from the following list would you…
A: Answer- (A) Answer is (c) Change overtime or under time. In a market situation where supply exceeds…
Q: Activity 1. Describe briefly the effect of the following in purchasing power Taxes Prices Investors
A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Danièle has 40 hours a week she can use for work or leisure. She earns 16 euros an hour and has no…
A: The utility function calculates a consumer's satisfaction or welfare as a function of their…
Q: Example (4): Find the value of sales from the follOwing information 1- Ordinary shares 600 dinars 2-…
A: The acts that lead to the sale of products or services are referred to as "sales."Sales…
Q: 55- 50 45 40- 35 30 25 20 15 10 234 56 -5 -10 -15 -20 +--. -25 -30 ---L -35 -40 -45 -50 -55 (4)…
A:
Q: 10. Suppose that we modify the Solow growth model by allowing long-run technological progress. That…
A: PLEASE FIND THE ANSWER BELOW.
Q: The tables below provide Sam's total utility for coffee and tea. Instructions: Enter your answers as…
A: Total utility is total satisfaction derived from consuming a good. Marginal utility is change in…
Q: 1. Suppose that you are in charge of purchasing for a U.S. corporation that is planning to acquire a…
A: To analyze both the choices, the most effective way is gauge the genuine trade rates.
Q: Dizz Cut price Maintain price Perlis Cut price (-1,-1) A (2,-2) B Maintain price (-2,2) (1,1) D…
A: A Nash equilibrium is an equilibrium outcome from which none of the players want to deviate. There…
Q: Nancy Lerner is trying to decide how to allocate her time in studying for her economics course.…
A: "Since you have posted a question with multiple subpart,we will solve first three sub-parts for…
Q: Using the table below: Calculate nominal and real GDP in 2018 assuming the base year is 2018.…
A: Gross domestic product is the total market value of goods produced domestically during the year.
Q: : An economy is described by the following equations: Z=C+l+G C=600+0.6(Y-T) I=300 G=700 T=600 )…
A: (C) Consumption function: C = 600 + 0.6(Y-T) Differentiate C w.r.t Y to get MPC => MPC = dC /dY…
Q: a. Optimal output b. Optimal price c. Total revenue
A: Given: In short-run: MC=ATC Note: Due to multiple subparts being posted, the first three subparts…
Q: What are some of the barriers to entry that can keep the number of sellers small in an Oligopoly?…
A: Oligopoly is defined as that market structure which has few seller selling the differentiated or…
Q: Include explanations what are the difference between induced and indirect economic impact? 2.)…
A: 1. Difference between induced and indirect economic impact: (i) Induced impacts often indicate…
Q: The cost of the average consumer’s basket of goods and services in 2018 is roughly 10 times what it…
A: Goods and services are the result of economic system.
Q: Assume Saudi Arabia to be home and US to be the foreign economy. Suppose that the real exchange rate…
A: Real Exchange Rate = Nominal Exchange Rate (Domestic Price / Foreign Price ) E = e (P /P*) e = E…
Q: YN CN Next question Suppose that the production function is given by 0 5VR N. where Y is output Kis…
A: Given production function Y=0.5K*N δ=0.05s=0s=0.1s=0.2s=1
Q: Quality improvements decrease the value of the currency and are reflected in the O True O False
A: CPI measures the value of market basket of goods and services bought by a consumer in a given period…
Q: A monopolist's demand curve: O is perfectly elastic. is the same as the market demand curve. O is…
A: Monopoly is defined as a market structure in which there are no substitutes for the product and the…
Q: Question 2 Suppose that w = $5, r = $10 and your budget as the manager of a firm is C = $200 For all…
A: An isocost line is a graph that portrays several input combinations that cost the same total amount.…
Q: Suppose a movie theater determines that the elasticity of demand for movie tickets is -2.0 for…
A: Learner's index is a measure to estimate the market power of a firm to charge price greater than…
Q: The function f(x, y) = (x + y)* – a² – y? – 6xy | has stationary points at some of the following…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Draw the graph. If the monopoly is a doing perfect price discrimination, then: the monopoly…
A: When a firm practices perfect price discrimination, it maximises its surplus and produces an…
Q: Use the Japan currency and describe its value relative to the Canadian dollar. Is it under or…
A: 0.010 Canadian Dollar = 1 Japanese Yen.
Q: U = 340x1 +960x2 + 2x1x2 – 2x – /2, when the weekly amount of leisure is x1 = 132 and earned income…
A: Since you have posted multiple subparts, as per guidelines we can solve only the first 3 subparts.…
Q: Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in…
A: A variety of measures of national income and output are used in economics to estimate total economic…
Q: O a) Patent law b) Trademarks law c) Copyrights law Od) Trade secret law e) International law
A: IP is safeguarded in regulation by, for instance, licenses, copyright and brand names, which empower…
Q: A man owes P12, 000 today and agrees to discharge the debt by equal payments at the beginning of…
A: Payment is done by the beginning of the quarter it is same as the case we know about annuity…
Q: Explain how the military arms race between the United States and the former Soviet Union had the
A: US versus Soviet Union: Prisoner's Dilemma In the early Cold War, the race for atomic…
Q: In most markets, independents are the most common form of retailer. Why is this the case?
A: There are various types of market where Retailer , wholesale sale their products either homogeneous…
Q: #4 Use the IS-MP model to show what happens when the Federal Reserve raises the federal funds…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Refer to Pessimism. How is the new long-run equilibrium different from the original one? O 1) both…
A: Due to pessimism, consumers will cut down their purchases of major items. This will lead to a fall…
Q: How can we improve or fix the state of healt given the existence of the fourth industrial…
A: The Fourth Industrial Revolution is an approach to portraying the obscuring of limits between the…
Q: Janice really likes potatoes. Potatoes cost $1.00 per pound, and she has $5.00 that she could…
A: The answer for both these parts are as follows:-
Q: Explain the effect on market price and quantity in the market for mobile phones of each of the…
A: here we provide explanation of the given statement as follow;
Q: What will be the industry's total cost of reducing emissions by 6 tons (in hundreds of dollars)?…
A: Cap and Trade Policy: A market-based strategy to controlling pollution in a very cost-effective…
Step by step
Solved in 3 steps with 1 images
- Why dues productivity growth in high-income economies not slow down as it runs into diminishing returns from additional investments in physical capital and human capital? Does this show one area where the theory of diminishing returns fails to apply? Why or why not?An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?A country faces diminishing marginal returns when increasing it's capital stock. If this country added 1,000 units of capital last year and saw their GDP rise by $500 per person, what would you expect to happen if they had added 2,000 units of capital instead? O GDP would increase by another $500 per person O GDP would increase by less than another $500 per person O GDP would increase by more than another $500 per person O It is impossible to tell what would happen What is a potential downside of using patents to promote the creation of new technology? Without a market test, patents might be given to technology which ends up being useless. O Government money may be directed towards unproductive goals. It slows the spread and development of those ideas by restricting competition. They prohibit competition forever. What is the law of diminishing marginal returns?
- What were the sources of labor productivity growth in the U.S. economy during the sixty years since 1960? How did the 1960s differ from the more recent decades? During the sixty years since 1960, the sources of labor productivity growth include O A. plastics, the laser, and the computer during the 1960s, and the Internet during later years O B. the focus on saving energy during the 1970s O C. the wide-spread introduction of the Internet during the 1970s O D. the global financial turmoil of 2008-2009 that made labor more productive Comparing the 1960s to the more recent decades, labor productivity growth than in subsequent decades. O A. in the 1960s was approximately 25 percent higher O B. in the 1960s was smaller C. due to technological change was smaller in the 1960s O D. due to physical capital and human capital growth was greater in the 1960s Click to select your answer. MacBook AWhich of the following movements on a Production Possibilities Graph would represent economic growth for a nation? O A. an inward shift of the entire production possibilities curve B. an outward shift of the entire production possibilities curve O C. a movement from a point inside the curve to a point on the curve O D. a movement from a point on the curve to a point inside the curve b mA country faces diminishing marginal returns when increasing it's capital stock. If this country added 100 units of capital last year and saw their GDP rise by $1,000 per person, what would you expect to happen if they had added 200 units of capital instead? O It is impossible to tell what would happen GDP would increase by less than another $1,000 per person GDP would increase by another $1,000 per person GDP would increase by more than another $1,000 per person
- Why does higher worker productivity not necessarily mean GDP per capita will rise? GDP per Capita depends on income, and not on worker productivity. O Workers might choose more leisure time instead of work, keeping total production the same but reducing hours worked. O Higher productivity does not necessarily translate to higher output, since employers may not give salary increases. O Workers might be more productive, but that doesn't mean GDP per Capita will go up unless they work more hours.Which government policy promotes economic growth? O A. increasing the interest rate charged on student loans B. implementing a fiscal policy that increases inflation C. implementing a monetary policy that increases inflation O D. building infrastructure and providing public goods Reset SelectionSuppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP r capita be in 70 years? S Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year) If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year)
- If the capital stock equals 200 units in year 1 and the depreciation rate is 5 percent per year, then in year 2, assuming no new or replacement investment, the capital stock would equal_____ units. Select one: a. 195 b. 210 c. 190 d. 200Productivity varies across countries because of differences in (Check all that apply) A. physical capital. OB. technology. O C. income D. human capital. O E. GDP. Human capital is Physical capital is any good, including machines and buildings used for production Technology is each person's stock of skills to produce output or economic value the ability to use labor and capital more efficientlyAssume that real GDP per capita in Country X is currently $50,000 per person. Also, assume that real GDP per capita in Country X grows at a rate of 2% per year. Rounding to the nearest 2 decimals, the real GDP per person in Country X in 10 years will be approximately 3.7 points Save Answ O a. $66,124 O b. $60,000 O. $58,272 Od. $61,000
