Q2. Consider the following table Apple Orange Pen Quantity in 2020 8 4 10 a. Calculate nominal GDP. I b. Calculate real GDP. [- c. Compute GDP deflator. I Price in 2020 6 3 2 Price in 2000 (base year) 4 7 5 Page 1

Q: Being "early to market" with a new product often results in grabbing relatively high levels of…

A: For a cash flow diagram - Cash inflows are denoted as up arrows  Cash outflows are denoted as down…

Q: Consider the following problem with 17 voters and 3 candidates. 6 people rank a over b and b over c.…

A: Condorcet winner is the candidate that beats all of its opponents.

Q: What are some reasons that CPI inflation may overstate the true increase in the cost of living?

A: An exhaustive measure utilized for assessment of cost changes in a bin of labor and products…

Q: ng graph shows the monthly demand and supply curves in the market for teapots. the the graph input…

A: A market is said to be in a condition of equilibrium when supply and demand are in a condition of…

Q: Choose a product or service that has a history of 20 or more years. (Ranch Dressing) Examine the…

A: A configuration where two or more additional parties commit to an exchange of services, goods, and…

Q: explain the most likely reason that sydney water management has a monopoly

A: When talking about Monopoly of a firm, it can be said that a firm gets monopoly due to different…

Q: A6 A marginal abatement cost that shows a factory's pollution is represented by MAC= 360 - 5E with…

A: The Marginal abatement cost refers to the change in the total cost when one additional unit of the…

Q: 3. The figure below demonstrates the moral hazard with insurance coverage. When consumer pays 50%…

A: A moral hazard indicates that a party may function differently than they would retain without the…

Q: A real estate developer bought land for $170 000.00 down and monthly payments of $8 450.00 for 5…

A: Given Down payment = 170,000 Monthly payment = 8450 $ Time = 5 years Interest rate = 8.75 %…

Q: the following data for a country: Category ulation n under 16 years of age or institutionalized por…

A: Given that, Total population: 500 million Institutionalised: 120 million Not in labour force: 140…

Q: Is the following statement true or false? Given is the graph below of the oil market. Without the…

A: Without the tax, the point where the demand and supply curve intersects is called the equilibrium…

Q: A company sells three types of products for $20, $15, and $10 per unit. In 1 year, the total revenue…

A: Total revenue is the total receipts collected from the sale of the goods and services in the market.…

Q: LAST WORD Suppose that minimum efficient scale for producing items with a 3-D printer is 100 times…

A: The lowest point on a cost curve at which a corporation can manufacture its product at a competitive…

Q: The consumers' burden associated with an excise tax will be largest when demand is OA. vertical. B.…

A: The consumer's burden associated with an excise tax will be the largest when demand is vertical.

Q: Discuss Okun's law and Philip's Curve

A: Okun law in a economics states that there exist a statistical relationship between unemployment rate…

Q: Harry's indifference curve for popcorn (X1) and butter (X2) is U-min(X1, 3X2). Sketch two…

A: We have two statements which could be true or false and one is for plotting the Indifference curve.

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: 6. The constant returns to scale assumption in the endogenous growth model implies that: A)…

A: Answer - "Thank you for submitting the questions.But, we are authorized to solve only one question…

Q: Price J M K L S₁ S2

A: The supply curve explains the direct relationship among the marketplace charge and amount…

Q: Is the following statement true or false? Given is the graph below of the oil market. Without the…

A: Here, the given graph shows the market for oil and two situation are presented in this graph that…

Q: The following graph is called the monetary trilemma for open economuy. Please explain the current…

A: The trilemma is a financial hypothesis, which places that countries might browse three choices while…

Q: Using the supply and demand analysis of the market for reserves, indicate how the following…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Kindly answer in narrative form. Please cite your sources. Thank you so much! 1. What are the GNP…

A: Concept The gross national income per capita is calculated by dividing the midyear population by the…

Q: The unemployment associated with an economic downturn like those associated with the COVID pandemic,…

A: There are different types of unemployment resulting from different labor market conditions.

Q: 2. Paul and Stella play a game with three strategies each, T, M, and B for Paul, and L, C, and R for…

A:

Q: If a monopoly faces an inverse demand curve of p=450-Q, has a constant marginal and average cost of…

A: A deadweight loss is an expense for society made by market shortcoming, which happens when market…

Q: New Keynesian sticky price open economy model with a flexible exchange rate: a. Explain why fiscal…

A: Price stickiness, or tacky price, alludes to the propensity of costs to stay consistent or to change…

Q: If a country that fixes its exchange rate increases its money supply, then its currency will become…

A: In the fixed exchange rate system, any change in money supply will lead to affect the value of…

Q: Labor Demand Data Labor Supply Data Total Product Product Price Employment Wage Rate 0 $ 2.20 0 15…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Show the relationship between private saving, public saving, investment, and the current account. If…

A: In economics, a country's national saving is the sum of private and public saving. It equals a…

Q: Fiat money is backed by: Oa. nothing. Ob. the commodity in which it is denominated, the promise of a…

A: Money makes the world go around. Economies depend on the exchange of money for products and…

Q: Suppose a closed economy has gross domestic product (GDP) of $10,000, Taxes of $3,000, Consumption…

A: National savings refer to the sum of private and public savings. When taxes exceed government…

Q: Thingamabob Sales Yaster Inc. is trying to enter the thingamabob market. The research department…

A: as we know at equilibrium level MR=MC where profit is maximised and it is the point where price and…

Q: Suppose the number of people who retire is greater than the number of people who enter the workforce…

A: The unemployment rate is the level of the workforce without a task. It is a reactive result,…

Q: C. Fill in the average revenue and marginal revenue in the table. Output (Q) Total Revenue (TR)…

A: The sum of money generated per unit of output is referred to as average revenue. In other words, it…

Q: 1. Tim has borrowed money from Lisa and proposed to pay back the money in two payments. Tim…

A:

Q: 7. Identify and describe the stages in the adoption process.

A: Adoption process refers to a system or strategy that helps people go from unaware about the product…

Q: 1. Please set some real examples to describe the three types of transactions between the citizens of…

A: Exchange transactions are transactions in which a company trades money for goods or services with…

Q: Assume that the Reserve Bank of Australia have implemented contractionary monetary policy to bring…

A: The Phillips curve denotes a negative relation between the inflation rate and the unemployment rate.

Q: Discouraged workers 0000 are counted par of the labor force and are counted as unemployed. are…

A: Discouraged workers are the people who were actively looking for job for a specific time period, but…

Q: Can you provide more details on the functions of monetary policy. Examples would really help

A: The monetary policy-related approach expands liquidity to make economic development. It lessens…

Q: Assume that the demand for cosmetic or plastic surgery is price inelastic. Are the following…

A: Disclaimer- “Since you have asked multiple question, we will solve the first three question for you…

Q: How unemployment has improved in 2022 aggregate demand and aggregate supply

A: The unemployment rate is below 5% in 2022, which is regarded as full employment. This improvement…

Q: QUESTION 7 If a price ceiling is binding in a given market, the effect on supplier profits through…

A: A price ceiling holds a cost back from transcending a specific level (the "roof"), while a cost…

Q: Q2 Hand written plz Find any Nash equilibria in the following normal form game and indicate which…

A: We have 4 ×4 simultaneous move game for two players 1 and 2

Q: What is public administration? Define bureaucracy and explain the role of bureaucracy in public…

A: Public administration is the study of and preparation of civil servants for administrative purposes…

Q: Why is the axiom of economics state that 2-3% of inflation is a good thing for the economy. Why…

A: When inflation counteracts the negative effects of deflation, it is advantageous.Consumers are…

Q: 1. With unitary elasticity of demand, a. Percentage increase in price reduces quantity by equal…

A: When the change in demand is equal to the change in the price then in such situation, the value of…

Q: Find positive numbers x and y such that x + y = 72 and 6xy² is maximized.

A: In order to maximise a function, differentiate the function with respect to its variable and then…

Q: During the Great Recession of 2008, many workers became discouraged and dropped out of the labor…

A: Labor force is a sum of people unemployed and people employed.