real GDP

Q: econ question

A: In the long run, firm is producing output at the point where the average total cost tis minimum and ...

Q: Not copy paste

A: Answer to the questions are as follows :  

Q: Explain Social cost under monopoly?

A: Under monopoly, the social cost refers to deadweight loss which is created because the monopolist ch...

Q: Excess capacity is a. an example of the inefficiencies of monopolistically competitive marke...

A: Excess capacity occurs when the firm produces lower level of output than its efficient level of prod...

Q: Consider a macroeconomy that produces smartphones, automobiles and haircuts. Use the information bel...

A: GDP includes the market value of goods and services produced in the economy within a given period of...

Q: Suppose banks keep no excess reserves and no individuals or firms hold on to cash. If someone sudden...

A: In a fractional reserve banking system, the money multiplier provides the number by which iteration ...

Q: Some individuals decry the decline of the small family farm and its replacement with the huge corpor...

A: The situation of reducing the total cost during the process of increasing production is referred to ...

Q: Currently, how much of the U.S. national debt is owed to foreigners?   a. About 2.5 percent. ...

A: National debt refers to the sum total of money borrowed by the government from public, banks, or fro...

Q: Construct Len’s total variable cost and total cost schedules. What does the difference between total...

A: ANS Len’s body board factory pays $60 a day for equipment this is the fixed cost and it pays $200 a ...

Q: The demand and supply schedule for coffee are:   a. If there is no tax on coffee, what is the price ...

A: a. The equilibrium point will occur at the point where the quantity supplied and quantity demanded t...

Q: Twins graduate from college together and start their careers. Twin 1 invests $2000 at the end of eac...

A: The concept of the time value of money states that the money in today’s date worth more than the ide...

Q: 1. What is Central Bank Independence(CBI)? What is the difference between political and operational ...

A: The central bank or reserve bank is the monetary authority of an economy that is relegated the respo...

Q: If deflation is OCcurring and nominal Gross Domestic Product (GDP) is increasing over time, then rea...

A: GDP is considered an important factor to evaluate the stability, growth, and performance of an econo...

Q: Explain how buyers’ willingness to pay, consumer surplus, and the demand curve are related.

A: Willingness to pay is the highest price below/ at consumer will surely purchase one unit of a produc...

Q: If JMJ Industries realizes a profit of $4.00 per unit sold, what is the fixedcost portion of their p...

A: The main objective of every firm is to maximize its profits. Profits can be computed for a firm by t...

Q: The price elasticity of demand measures which of the following? Select one: O a. the slope of the de...

A: Answer - (d). how responsive the quantity demanded is to changes in price.

Q: An economic research centre has published data on GDP and Demand for refrigerators as given below:Ye...

A: Linear regression is a method to model relationship between two variables. Here the two variables ar...

Q: Your friend Desmond is thinking about taking a year off of college to work. He argues that his oppor...

A: The opportunity cost is the next highest income that the person could have made if the person choose...

Q: Economic

A: Given, Income in period 1 = Y1 = $26,898  Income in future or period 2 = Y2 = $59,968 Wealth in peri...

Q: Which is more difficult for a company to accomplish well, an analysis of external opportunities and ...

A: A firm needs to analyze the strengths, weaknesses, threats, and opportunities firm. This can be done...

Q: Economics Question

A: Comparative advantage refers to the situation where the capacity of one country to produce the goods...

Q: Explain with diagram- collision: cartel and price leadership model

A:   Meaning of Oligopoly: The term oligopoly refers to the market where there are few numbers of produ...

Q: In Exhibit 1, as production increases, firms resort to offering higher wage rates to attract the dwi...

A: Aggregate supply refers to the minimum amount of sales proceeds which an entrepreneur expects to rec...

Q: Emco Company has an assembly line of fixed size A. Total hourly output is a function of the number o...

A: a. The marginal productivity of labor is the additional productivity made by an additional unit of l...

Q: Economic Impact Control Measures in tourism and hospitality industry.

A: Impacts of tourism on the economy. It generates employment for many people. Tourism generates revenu...

Q: Harper is a short-lived human who only lives for two years: current year and next year. In the curre...

A: Time period (life of Harper) = 2 years First year income = $189 First year tax = $36 Second year = $...

Q: The town of Whoovile wants to increase the amount of affordable housing in town.  Assume that housin...

A: Housing being a competitive industry suggests free entry and exit of firms operating within it. Thus...

Q: Drybar, a hair salon, has very loyal customers and faces a weekly demand for blowouts equal to qD = ...

A: "Since you have asked multiple questions, we will answer only first two questions for you. If you wa...

Q: The average variable cost curve and the average total cost curve get closer to each other as output ...

A: The average variable cost refers to the variable cost per unit. The average total cost is the summat...

Q: A good goes through three stages of production. The value added at stage 1 is $3; the value added at...

A: Product method or Value added method is one of the three approaches in Determining National income. 

Q: When there is a shortage of citrus fruit, theeconomic forces of supply and demand wouldsuggest thata...

A: The demand and supply forces are the market mechanisms which work for the economy and the firms’ man...

Q: When Monica's Catering lowered the price of catered meals from $60 per person to $20 per person, the...

A: Given information about Monica’s catered meals: Initial price: $60 Final price: $20 Initial quantit...

Q: based on the 3 linked models of macroeconomy like very long run , long run and short run describe wh...

A:   Meaning of Inflation: Inflation generally arises when there is an excess increase in the level of ...

Q: Compare the general underlying objective of public decision making versus private decision making. L...

A: Public decision-making is centered around advancing the overall government assistance of the aggrega...

Q: Katie's Quilts is a small retailer of quilts and other bed linen products. Katie currently purchases...

A: Assume that Katie needs to sell K quilts to make vertical integration to be a profitable decision. T...

Q: Economics Question

A: A perfectly competitive firm can adjust in the long run to changes in market demand for the commodit...

Q: Describe tools that the US Treasury and the Federal Reserve use to undertake restrictive monetary po...

A: A restrictive monetary policy aims to tighten the money supply and control the liquidity in the econ...

Q: You are a well-paid engineer with a well-established international corporation. In planning for your...

A: Hi student, thanks for posting the question. As per the guideline, we are providing answer for the f...