Questions in Lectures

Please answer first 3 questions

QUESTION 28 Fill in the blank using the number that corresponds to the correct word or phrase in the word bank below 1. positive 2. model 3. dependent 4. normative 5. theory 6. graphs 7. models 8. law 9. independent A hypothesis that has not been rejected after widespread testing and that wins general acceptance is commonly called a A theory that has been subjected to even more testing and that has won virtually universal acceptance becomes a The real world is far too complex for the human mind so scientists use instead. A is a set of simplifying assumptions about some aspect of the real world. Economists often use to represent economic models. Hypotheses in economics typically specify a relationship in which a change in one variable causes another to change, the variable that responds change is called the variable; the variable that induces a change is called the variable. A statement of fact or a hypothesis is a statement and a statement is one that makes a value judgment

i. Classify the following issues as relating to microeconomics or macroeconomics. a) a family's decision about how much income to save b) the effect of government regulations on automobile emissions c) the impact of higher national savings on economic growth d) a firm's decision about how many workers to hire ii. Classify each of the following statements as positive or normative. a) Society faces a short-run trade-off between inflation and unemployment. b) A reduction in the rate of money growth will reduce the rate of inflation. c) Society ought to require welfare recipients to look for jobs. d) Lower tax ates encourage more work and more saving. Page 1 of 3 Suppose that at the beginning of the year the Accountant of the School of Business defines and outlines what he considers to be his priority expenditure ii. areas as follows. item Cost(Ghs) Reference Textbooks 100,000 Office Spaces for lecturers 50,000 Refurbishment of School Auditorium 50,000 Projectors for Lecture Halls 40,000…

(1) Classify the following topics as relating to microeconomics or macroeconomics. (5) a. a family’s decision about how much income to save b. the effect of government regulations on auto emissions c. the impact of higher national saving on economic growth d. a firm’s decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of money

Categorize the following as microeconomic or macroeconomic questions: (vii) Why are interest rates rising? (viii) Why are economic growth rates different in the Jamaica and Antigua?

ii. Identify each of the following topics as being part of microeconomics or macroeconomics: d.​factors influencing the rate of economic growth. e.​factors influencing the demand for tractors. f.​the impact of tax policy on national saving.

Which of the following topics would be studied in a microeconomics course? a. how rent prices impact the supply of apartments b. how inflation will affect the total demand of a country c. how a trade agreement between the United States and Mexico affects both nations' unemployment rates d. how increases in tax rates will affect the total production of a country

Question 1 Classify the following as microeconomics or macroeconomics and provide a justification for your choice. A comparison of alternative tax policies and their respective impacts on the rate of the nation's Choose. economic growth The effect of government regulations on car emissions Choose. The decision by McDonald's to hire fewer workers Choose. because of an increase in the minimum wage The stock market plunges by 1000 points due to Choose. uncertainty. Please answer all parts of the question.

The unemployment rate of Oman is measured as 2.55% in 2020, which is lower than the rate of India. Analyze, what type of a statement is this? a. Analytical statement b. Positive statement c. Negative statement d. Normative statement

0000 Samsung Quad Camera Shot with my Galaxy A21s GRADE 9 TIME: 1 HOUR MID-YEAR-EXAMINATION TERM 2 PAPER 2 TOTAL: 50 MARKS SECTION B QUESTION 1 [10 marks; 12 minutes] Answer the following questions. 1.1 Choose the correct answer and write down the correct letter e.g. 1.1.4 C 1.1.1 The Command economy is also called: A) Planned economy B) Market economy C) Mixed economy 1.1.2 The partlicipants in the circular flow of a closed economy are: Households Businesses

Explain the term models or paradigms?

Economic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behave

1.    Classify the following topics as relating to microeconomics or macroeconomics. a. A family’s decision about how much income to save b. The effect of government regulations on auto emissions c. The impact of higher national saving on economic growth d. A firm’s decision about how many workers to hire e. The relationship between the inflation rate and changes in the quantity of money   2.    Classify each of the following statements as positive or normative. Explain. a. Society faces a short-run trade-off between inflation and unemployment. b. A reduction in the rate of money growth will reduce the rate of inflation. c. The Federal Reserve should reduce the rate of money growth. d. Society ought to require welfare recipients to look for jobs. e. Lower tax rates encourage more work and more saving

Which of the following situations is not a macroeconomic objective? a. economic efficiency b. economic growth c. balanced budget deficit d. equitable distribution of income 2. Which of the following is an essential factor for the continuous growth process in the economy? a. government planning for what the country will produce b. the absence of private property c. research and development of new technologies and investment in new capital d. government intervention in economic activity 3. Which of the following alternatives measures the standard or standard of living? a. real gross domestic product b. per capita gross domestic product c. gross national product d. disposable income

Which of the following types of change represents the paradigm dimension? A. Changes in the underlying mental models which frame what the organization does B. Changes in the context into which the products/services are introduced OC. Changes in the ways in which these offerings are created and delivered D. Changes in the things (products/services) which an organization offers OO

In summary, how has the study of the history of economic thought been helpful/not helpful for you? How can you apply this to your future endeavors and life?

What does the invisible hand concept, introduced by Adam Smith, refer to in economics? A. The role of government in regulating markets B. The self-regulating nature of markets where individuals pursuing their own self-interest unintentionally benefit society C. The importance of charity and philanthropy in economic development D. The role of central banks in controlling interest rates

What is the best test of an economic theory?   a. Whether it produces implications that are favored by the researcher.   b. Its ability to predict real-world events, patterns, and changes.   c. Its eloquence.   d. The plausibility of its assumptions.

What are the key elements of the scientific method and how does this method relate to economic principles and laws?

Question: Which of the following is related to Microeconomics?[A] The size of national economy[B] Inflation[C] Unemployment[D] Behaviour of individual economic unitsPlease Dont use AI tool.

The economic environment refers to: Select one: a. an analysis of how new environmental regulations will affect our economy b. the economic outlook of the world provided by the World Bank c. an analysis of how the environmental movement and world economy interact d. the nature and direction of the economy in which a firm competes or may compete

Oman Vision 2040 is considered one of the economic programs that played an important role in economic development, and the Gulf countries have different economic programs: Through this idea, the student must do the following: 1- The student has the right to select any of the Gulf countries’ programs for economic development. 2- The student must show the impact of the economic program on various sectors in the country. 3- The student must discuss the impact of the program on the standard of living in the country.

Microeconomics is a brach of economics that studies:   a. The determination of national income   b. The behaviour of individual decision-making units in the economy    c. The effects and consequences of the aggregate behaviour of all decision-making units   d. The impact of unemployment in South Africa

1. What is Managerial Economics? 2. How does it relate to microeconomics?

Identify the different factors of production. Identify the three (3) central problems of the economy. Identify economic systems or organizations of economic activities. Differentiate normative and positive economics. Help me with this one, please. Thank youuu

27 Macroeconomics studies individual economic unit Select one: a. True b. False