1-Consider an economy in which there's onefarmer who grows corn and another farmer whogrows sheep, and they engage in direct exchangeso that they consume both goods. Which of thefollowing is true?A-There is no money in this economy since it's abarter system.B-In this economy, only corn is considered money.C-In this economy, only sheep is consideredmoney.D-In this economy, both corn and sheep areconsidered money.

Barter system is an system which was used when there was no money and people used to exchange their…

Answered: 1-Consider an economy in which there's…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 4SCQ: Edna is living in a retirement home where home where most of her needs are taken care of, but she...

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40. Supply me ans : a Various quan tities producar will place on the market at various alternative pri cer, holding sther fact ors canstant. B. It defines the behavier of the producers, given price as the explanatory variable. o4 good /service that a C. Only A is carrect Buth A and B are correct D.
Figure: Production Possibilities and CircularFlow Diagram Money Menry Gook and Ficiors Gantity of coconts Households Marketa for IMIM IMI INN EN * Factor 25 20 goods and services morketa 15 10 Gask and Fartors 10 20 30 50 Quantity of Eih Money Fims Meney Reference: Ref 2-22 Figure Production Possibilities and Circular-Flow Diagram (Figure: Production Possibilities and Circular-Flow Diagram) Use Figure: Production Possibilities and Circular-Flow Diagram. Assume the two figures represent the same economy. Suppose that in the circular-flow diagram there is a significant increase in the amount of human capital flowing to both coconut producers and fish producers. If all other variables remain unchanged, then the ådjustment in this economy would be BEST represented in the production possibilities figure by a movement from point A toward:
What assumptions about the economy must he true for the invisible hand to work? To what extent are those assumptions valid in line real world?
sekect one answer. 1. Which of the following statements about the Affluent Society era is false? a. John Kenneth Galbraith’s, The Affluent Society, criticized the underlying structures of an economy dedicated only to increasing production and the consumption of goods. b. Galbraith’s analysis was so insightful that the title of his book has come to serve as a ready label for postwar American society c. Galbraith warned that an economy where “wants are increasingly created by the process by which they are satisfied” was unsound, unsustainable, and, ultimately, immoral. d. The contradictions of the Affluent Society defined the decade: unrivaled prosperity alongside persistent poverty, expanded opportunity alongside entrenched discrimination, and new liberating lifestyles alongside a stifling conformity. e. None of the above statements are false 2. Which of the following statements concerning the rise of the suburbs is false? a. The seeds of a suburban nation were planted in New…
4 d'Artagnan, Athos, Porthos, and Aramis are good friends and passionate readers of modern fiction. When Alexandre Dumas's new book 'The Three Musketeers' came out last month, they all went to buy a copy. The price was 5 francs. Their willingness to pay were as follows: d'Artagnan: 35 francs, Athos: 30 francs, Porthos: 25 francs, and Aramis: 20 francs. Assuming there was no shortage of the book, the total consumer surplus was 110 francs 70 francs 90 francs 50 francs We cannot compute the total consumer surplus without information about the costs.
7:32 AM 0.1KB/s O 63 expert.chegg.com/expei Chegg Home Expert Q&A My answers Time remaining: 00:09:22 Economics Aristotle made a key distinction between what he called 'natural' and 'un-natural' exchange. For this assignment, answer the following two questions in a page or so. 1. What is 'un-natural' exchange and why was Aristotle so worried about it? 2. How did the feudal system, via 'Canon law', manage economic and market activity?
3. Recycling CanFor the past 10 years, five Colorado cities have held a recycling contest to see which citydoes the best job of recycling plastic, glass, and aluminum. Those participating in thisyear’s contest are Arvada, Centennial, Lakewood, Highlands Ranch, and Parker.To make the contest fair for both large and small cities, the winning city will be the one that recycles the largest number of cans per capita—the number of cans recycled dividedby the number of city residents. 0.02 per can Recycling Can Contest City Population Jan Feb Mar Total Per Capita Arvada 15,855 10,505 24,556 12,567 Centenntial 28,951 24,567 21,777 26,719 Lakewood 142,547 102,376 105,876 121,987 Highlands Ranch 2,801,561 2,714,664 2,503,344 1,999,877 Parker 1,689,908 1,523,665 1,487,660 1,002,545 Total -…
0-Principles of Economics 1| S1 21/22 Time left 0:3 While doing your weekly shopping, you note that the price of milk has risen relative to other items in the supermarket Which of the following events could have caused this? Select one: O a. Fewer young people like milk these days. O b. A new additive prolongs the shelf life of milk. c. A new compound is found to increase the amount of milk that each cow yields. O d. The government establishes a price ceiling. e. Milk is found to lower the risk of cancer. Next page
7. Due to the war in Ukraine, natural gas prices are expected to increase rapidly in Europe this winter. Which role of prices will European consumers experience in this market? The rationing role which states that as prices rise, only those buyers most willing and able to pay will be able to keep their homes as warm as they desire. The resource directly role which states that as prices rise, suppliers of natural gas from other nations will attempt to increase production to sell to Europeans. The information role that teaches us how rising prices conveys a message that prices were below equilibrium right before they began to rise. The rationing role of prices which discriminates based on the consumer income, wealth and other factors that influence consumption. All of the above.
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(on puw Directions/ lestructions Evaluate a wrtten text basd Name Acantfao Assessment Directions: ldentify the function of communication in each of the following situations. Write your answer on the space provided before each number. 1. Samantha shares her travel stories to her classmate during break time. 2. Mr. Lorenzo describes the main features and characteristics of each planet in our Solar System. 3. The president delivers a moving speech to help him pave the path for a better and progressive Philippines. 4. The guidance counsellor reprimands the two students who skipped classes after lunch break. 5. Ana tries to calm her best friend who just broke up with her boyfriend. 6. Boyet shares his struggles in school to his father. 7. Mrs. Santos tries to accommodate her son's friends in their home. 8. The security officer reminds the public of the things they should do in case of an emergency evacuation. 9. Mang Tomas visits his friend who has just arrived from Vietnam. 10. Eman, the…

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