Officially recession is defined as: decrease in the real GDP for two consecutive quarters. decrease in the real GDP for one quarter. decrease in economic growth for any two quarters during a year. decreas in the real GDP for three consecutive quarters.
Q: Two key macroeconomic indicators that provide insight into the standard of living in an country are:…
A: Answer: Standard of living is generally measured by the amount of goods and services available to…
Q: Suppose that leather is sold in a perfectly competitive industry. The industry short-run supply…
A: Externality refers to spill-over effect of a good on third party which is not involved in either…
Q: 1. In a simple economy, people consume only 2 goods, food and clothing. The market basket of goods…
A: Answer: (a). Percentage increase in price of food=Price of food2003-Price of food2002Price of…
Q: 1. How do both consumers and firms benefitted from the economies of scale? 2. Large business enjoys…
A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a…
Q: What are some of the impacts that the National Labor Relations Act have on employment in the United…
A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…
Q: Question 25 In order list the following steps in the prosperity cycle in the order in which they…
A: 1. Employment Increases. This means more people are getting employed. They are getting jobs and work…
Q: Complete the numbered boxes on the following table, by writing the word or words needed to…
A: The central bank uses the contractionary and expansionary monetary policy to manage the interest…
Q: Amy is a business owner who purchased a policy of business insurance providing 1,000,000 limits for…
A: Insurance is a kind of protection that a person purchases in order to protect himself from a loss…
Q: Assume that the demand function is equal to: Qd=500-100P, where price range is P1 to P5, derive the…
A:
Q: In the IS-LM model, which market moves the fastest to restore general equilibrium?
A: The IS-LM model offers another perspective on how the economy's short-run real gross domestic…
Q: Monopoly: Fantastic Films is the only movie theater in an isolated town. The table below illustrates…
A: Answer: The following formulas will be used: Total revenue TR=Price×QuantityMarginal revenue…
Q: How China became the production center of the world? Explain using Comparative Advantage theory of…
A: A country's comparative advantage in economics is its ability to manufacture a specific product or…
Q: Refer to the graph shown of a profit-maximizing monopolist: $100 $90 MC $80 $70 $60 $50 Price, cost,…
A: A monopolist is a person having a monopoly in the market.
Q: A negative net export (import is greater than import) can be offset by a positive net factor income.…
A: When talking about international trade, balance of payment account is used to make a record of…
Q: Table 1: Price Data Year 2007 2008 Average Price Level $1.042 $1.13 In Table 1, what was the…
A: Answer; The inflation rate between 2007 and 2008 is 8.45%
Q: Public goods are defined as non-excludable and non-rival in consumption. If something is close to a…
A: Public goods are those goods which are non-rivalrous and non-excludable.
Q: Consider a country in a regime with flexible exchange rates. Keeping the domestic interest rate…
A:
Q: You are given the following consumption function: C = RM150 million + 0.75Yd Based on the above…
A: Autonomous consumption is the consumption when you income is zero.Hence when we do not get income we…
Q: Suppose the value of the S&P 500 stock index is currently 2,400. a. If the 1-year T-bill rate is 6%…
A: Answer;
Q: If the AS/AD Equilibrium level of Real GDP is greater than the Full Employment Level of Real GDP,…
A: The economics as a study is based upon the basic idea of scarcity, which implies that the total…
Q: Calculate : a. GDI b. GNI c. NNI d. NI e. Personal income f. Disposable income
A: Income from employment & self employment = 25000 Income from rent, dividend & interest =…
Q: What is Micro Credit’s view of government financing?
A: Various banks provide the services of micro credits . It is considered as a small loan. The examples…
Q: Consider two countries, Spain and Norway, that use labour as an input to produce two goods: shoes…
A: If a nation utilizes less resources to create a product, it has an absolute advantage over another…
Q: The country of Swedway monitors price changes on several hundred goods in 4 categories: food,…
A: The inflation rate is the measurement of change in the general price level of the baskets of goods…
Q: H6. How can the loan decisions of individuals and private bankers contribute to the instability in…
A: PLEASE FIND THE ANSWER BELOW. MACRO-ECONOMY: Macroeconomics is the branch of economics that deals…
Q: Suppose that a firm is producing in the short run with output given by: Q=64L-L² The firm hires…
A: Answer; The firm should optimally use 31.44 units of labor.
Q: Suppose the market for kiwis has a demand curve of the form: Qd = 200-2Pd And that the costs of the…
A: Answer;
Q: A. Modified TRUE of FALSE. Write T if the statement is TRUE and CHANGE the underline word if the…
A: Government of the country providew varioue services to help its people and promote their welfare.…
Q: i A simultaneous increase in taxes and social benefits O Weakens the market power of companies O…
A: Tax Tax is the financial charge which is levied by the Authorities of the government on the…
Q: Access to funds, domestically and internationally, is made easier with the presence of financial…
A: Access to funds explains the availability and affordability of the monetary resources to make an…
Q: Question 1 The formula for calculating GDP using the expenditures method is GDP = C+I+G+(X-I)
A: Ans. 1. GDP is the value of the final goods and services produces within an economy during a given…
Q: 14. Holly consumes commodities x and y and her utility function is U(x, y) = 2xy³. Good x costs 2…
A: We are given with the utility function which is :- U(x,y) = 2xy^3 Also the price of good X is $2 and…
Q: In a country with capital mobility without controls on international capital flows, what would…
A: The major motivation for capital mobility is to reduce the unpredictability of money rates in the…
Q: A production function is given by f(x1,x2)=(max(x1,x2))^0.5. Prices of inputs are p1=10 and p2=20.…
A: Price of inputs for X1 and X2 are 10 and 20 respectively. Firm want to produce Q=10 units.
Q: A. Modified TRUE of FALSE. Write T if the statement is TRUE and CHANGE the underline word if the…
A: A feasibility study is mainly conducted to analyze the viability of a project to understand whether…
Q: On behalf of her firm, Amanda H. makes frequent trips to Vietnam. She notices that she always mas to…
A: The nominal exchange rate is characterized as the quantity of units of the homegrown currency that…
Q: Assume perfect competition: Price: $54 Cost: TC = 6Q + 0.03Q2 Solve for the profit-maximizing…
A: Perfect Competition's profit maximizing quantity is at P = MC
Q: The saving function of an industrial project (in millions) is given by (Picture Below) . The…
A: The surplus of income over-consumption spending is referred to as savings. The concepts of saving…
Q: Businesses wanted to reduce their cost to the minimum without compromising the product quality and…
A: Companies benefit from economies of scale when their production gets more efficient. Economies of…
Q: A landlord who sells his property transfers the Odiversionary O reversionary subversionary…
A: A property transfer can be accomplished by the actions of two or more persons, or through the…
Q: Suppose two gas stations operate at the same busy intersection. You notice that the posted prices…
A: As we show that We cannot automàtically conclude that there is a no competition between the two…
Q: Jack Sparrow's utility function is UJack(W, B) = W. His wife's utility function is Uwife(W, B) = B.…
A: Elizabeth's Utility function : Ue = W Endowment : W , B = ( 16 , 5 ) Husband's Utility function : Uh…
Q: Kali is a dot-com entrepreneur who has established a Web site at which people can design and buy a…
A: Given Kali has to pay $100 for an internet connection and 10 per pair of sunglasses So the total…
Q: Refer to the graph shown. The equilibrium quantity for the monopolist represented is: MC Price $10…
A: A monopolistic has sole producer of a certain type of a good. So it has downward slope demand curve.
Q: What is the total cost for this firm? (omit $ sign. Report cents as needed.) MC ATC D Quantity Price…
A: The firm maximizes profit by producing at MR =MC
Q: Exhibit 18-5 2016 2017 Price Quantity Price Quantity Pineapples 12 100 4 125 Coconuts 5 60 4 75 If…
A: Real GDP: good produced in a given year valued at base year prices.
Q: QUESTION 2 a) Assume that you borrow $30,000 to purchase a new automobile and…
A: Given; Amount borrowed= $30000 Interest rate; r= 4% Time period; n= 4 years
Q: Pancraziland is an open economy, whose official currency is the pound. At the end of 2019, it had a…
A: A net international investment position (NIIP) measures the gap between a nation's stock of foreign…
Q: For all True/False questions, you must explain why the answer is true or false. 1. [True/False] If…
A: here we find whether the given statement is true of false by the following method as follow:-
Q: if a society has 250 million people over the age of 16, 145 million who are working, and 5 million…
A: Answer; Option 2 is correct.
Solve it correctly
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Which of the following variables falls when the national economy enters a recession? (choose all that apply) Unemployment O Nonfarm payrolls Michigan's economic output InflationIf an economy is producing more than its full-employment GDP, what is likely to happen? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely.QUESTION 10 A recession is a period during which aggregate output increases. True False
- The GDP of a country was $300 billion in 2016. In 2017, consumption spending increased by $200 billion, imports increased by $150 billion, and investment fell by $25 billion, and the country experienced inflation. Real GDP for 2017 will be: Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer a b C d less than $325 billion more than $325 billion $300 billion $325 billionThe seasonally adjusted data below depict the performance of the economy of the United States in 1949. Year/Quarter 1949/Q1 1949/Q2 1949/Q3 1949/Q4 Select one: OA. Recession and disinflation. Annual Percent Change Nominal GDP -7.4 -5.2 +2.3 -3.3 Which of the following describes the performance of the economy of the United States in 1949? OB. Expansion and disinflation. OC. Expansion and deflation. OD. Recession and deflation. Annual Percent Change Real GDP -5.4 -1.4 +4.2 -3.3A futures market trades contracts on the growth rate for nominal GDP. The contract pays $X to the buyer, where X is 100 times the growth rate in nominal GDP from last year to this year. For example, if nominal GDP grows by 1% over last year, the contract pays $100 (1 x 100). Nominal GDP last year was $28,137 billion. Contracts on the futures markets are currently selling for $460. What is the market's prediction for nominal GDP this year? Put your answer in billions. You may round to two decimal places.
- Real-Time Data Analysis Exercise The following table shows the values for real potential GDP and real GDP for the past five years. *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. Given this information, calculate the output gap for each year by calculating the percentage difference between real GDP and potential GDP. (Enter your responses as percents rounded to two decimal places. Include a minus sign if necessary.) Year 2018 2019 2020 2021 2022 Real Potential GDP ($ billions) 18,788 19,163 19,524 19,865 20,224 Real GDP ($ billions) 18,609 19,036 18,509 19,610 20,015 Output Gap (%)Question 3Examine the fundamental causes of a nation’s business cycle fluctuations. Also, examine the relationship between total spending by government and consumers in a nation and the location of the countries’ GDP on the business cycle.Consider the ISLM model. If the government and central bank used a combination of expansionary fiscal policy and expansionary monetary policy, which of the following would occur? (a) There would be a rise in equilibrium national income and a fall in the equilibrium rate of interest. (b) There would be a fall in equilibrium national income and a fall in the equilibrium rate of interest. (c) There would be a rise in equilibrium national income and an unknown effect on interest rates. (d) There would be a fall in equilibrium national income and a rise in the equilibrium rate of interest.
- QUESTION 9 Gross domestic product: measures the value of the aggregate production of goods and services in a country during a given time period. O measures the value of labour payments generated in an economy in a given time period. O includes all the goods and none of the services produced in an economy in a given time period. O is generally less than federal expenditure in any time period.The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue bar coincides with a period of six or more months of declining real gross domestic product (real GDP). Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1957, is known as ________ (options: a recession, a business cycle, an expansion) True or False: Short-term fluctuations in real GDP are irregular and unpredictable. Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1958? Check all that apply.A. Industrial production declined.B. Consumer spending increased.C. The unemployment rate declined.D. Home sales declined.Assume that this economy produces only two goods Good X and Good Y. If year 2 is the base year, the value for this economy's real GDP in year3 is: A- = 2000 B- = 2500 C- = 3600 D- = 3750 Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 2 is: A- = 100 B- =121 C- = 130 D- =150 Assume that this economy produces only two goods Good X and Good Y.
