1. Suppose that in order to engage in some legitimate business, entrepreneurs need permission from a two-level hierarchy of government officials, A and B. However, to receive the permit, they have to bribe the
Q: Perfect Competition: What are the key features of a perfectly competitive market? Many buyers and...
A: Question 1 is only answered. Post the remaining question again.
Q: There are only two views of advertising: informative and persuasive.
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...
Q: irst Player can invest $1.00 with Second Player (low reliance) or $2.00 (high reliance). Based on th...
A: The dominant strategy is the strategy that shows the possible outcomes of the event happening. The d...
Q: The industrial revolution gave rise to capitalism and consumerism - True or False
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: 1. The CPI is more commonly used as a gauge of inflation than the GDP deflator is because the a. CPI...
A: "Since you have asked multiple question ,we will solve first question for you.If you want specific q...
Q: # 1 An electric cooperative is considering the use of a concrete electric pole in the expansion of i...
A: Engineering economics can be defined as the study of economic cost and benefit analysis of different...
Q: Questions : A German travel company decides to stop selling holidays in Ital and instead to offer ho...
A: All a,b, and c answers given below,
Q: GRAPH SETTINGS Reset Country-X Initial Value ($50 – $10,000) 1,000.00 Value (thousands of dollars) [...
A: Given that, Countries X and Y each produce $2,000 of goods and services per year. Country X experien...
Q: 5. ) In industries with exogenous sunk costs, industry concentration decreaseses and apporaches zero...
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...
Q: 6. The double-entry principle in the balance-of-payments How will the following transactions affect ...
A: When talking about US balance of payment account, any inflow of cash will be recorded in the credit ...
Q: 4. 6) Assume the definition of deductible elasticity that gives non-negative figures for normal dem...
A: Monopoly market refers to those markets in which there is a single seller who charges the higher pri...
Q: Which province has the highest union rate in Canada? Newfoundland and Labrador Nova Scotia Ontario Q...
A: When talking about union rate in Canada, there are different provinces that holds different share of...
Q: Briefly distinguish the specific tax and Ad Valorem tax? Don't need any example long explanation. Th...
A: Answer: Indirect taxes, both specific and ad valorem, are also feasible. A commodity specific tax is...
Q: If A = {1, 2, 3}; B = {2, 3, 4}; C = {3, 4, 5} Verify the distributive law
A: Introduction:
Q: What would happen if the government imposes a price ceiling on oil and gas prices, how would this af...
A: Price control is undertaken by the government to increase the welfare in the economy. Price ceiling ...
Q: Directions: Use the given scenarios and the information you have learned about Fiscal and Monetary p...
A: a) In exchange for freshly issued bank credit, the Fed can cut interest rates by purchasing debt sec...
Q: a. Classify each project as either simple or nonsimple. b. Use the quadratic equation to compute * f...
A: Given:
Q: The economic model of Human Capital Investment assumes that individuals choose their path through po...
A: The human capital theory posits that people can build their useful limits through more prominent ins...
Q: 1. If demand is equally elastic, and price increases from 5 to 7, what is the total change? If price...
A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the econom...
Q: An important assumption in the AD/AS macro model is that when real GDP exceeds potential output, fac...
A: Aggregate demand or AD is the total demand of all the goods and services that are produced in the ec...
Q: 7. When there is one scarce resource, the product that should be produced first is the product with ...
A: Scarce resource is the one that has a very limited amount of quantity available to use for consumpti...
Q: 22. If C = 2000 + 0.5 YD, what decrease in taxes must occur for equilibrium output to increase by 50...
A: Disposable income depends on taxes and charges in taxes affect disposable income which then affects ...
Q: The endogeneity problem when estimating the effects of immigration on domestic wages is best describ...
A: The answer is - B The possibility that the specification of the wage equation neglects a relevant...
Q: 2) As an economist, identify and justify economic and fiscal policy measures that should be taken by...
A: The LM curve shows the positive relationship between interest rate and output. It means the increase...
Q: 20. In a closed economy without investment and government spending, C = 1000 +.5YD, and taxes T=50, ...
A: Given : In a closed economy with no investment and government spending- Consumption = 1000+0.5YD Ta...
Q: Give an example of an Inelastic product, what makes it inelastic? What can make it become elastic?
A: An inelastic product means that if the price of the product increase then the proportion of decrease...
Q: In a perfectly competitive market you can expect the following changes to occur in long run if firms...
A: The structure of a market where there are a large number of sellers selling homogenous products and ...
Q: What are the different type of strike a labor union can form?
A: Strike action, sometimes known as a labour strike is a work stoppage caused by a large number of emp...
Q: 8. The Ajax Manufacturing Company is selling in a purely competitive market. Its output is 100 units...
A: An ideal market system is referred to as perfect competition. There are no monopolies in a free mark...
Q: Country X can produce 1,000 units of food and 2,000 units of clothes. Country Y can produce 1,000 un...
A: Country X can produce 1000 units of food and 2000 units of clothes. Country X's opportunity cost of...
Q: Question 2 The cross elasticity of demand measures the responsiveness of the quantity demand a parti...
A: As a policy we are supposed to provide solution for only question at a time. Since you have asked mu...
Q: What can you say about Tax incidence in your country, who carries the burden more? Give examples and...
A: Taxes are unintended fees placed on individuals or companies and levied by a government agency – reg...
Q: consumer is faced with the following utility function, U(x1 x2)=(xp1 1+xp2)1/p, where 0<p<1. The con...
A: According to classical demand theory , optimal consumption point is achieved where the slope of indi...
Q: B). The firm produce two products A and B. Demand are independent and marginal costs are zero. The p...
A: An effective marketing technique known as bundling makes it easier for customers to buy many items a...
Q: Suppose Alice faces the following prices and income across two periods. Prices Income Period 10 1 20...
A: We have p1=10, p2=12 and m1=200, m2=250and r=5% or 0.05 We have to find an intertemporal budget for ...
Q: 2. At a constant rate, in what direction should your IS curve shift to meet equilibrium 1.2 1 0.8 0....
A: At a constant rate (0.6), the horizontal line will not move anywhere. However, the IS curve is the o...
Q: What is demand for Loanable Funds and what are the fields where from these Demand for Loanable funds...
A: Answer: Investment, consumption, and hoarding are the three basic sources of Demand for Loanable fun...
Q: What deposit made at the beginning of each month will accumulate to $120,000 at 5% compounded semi-a...
A: In the question above, it is given that : Amount = $120,000 Rate of Interest = 5% = 0.05 Time = 10 ...
Q: The total economic profit made by the monopoly would be the area described by the points.. MC Pat AT...
A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...
Q: Suppose that the market for gasoline is a perfectly competitive market. All gas station owners face ...
A: A perfectly competitive firm is a price taker as there are large number of firms selling identical g...
Q: Bid 1: 9% per year, compounded quarterly Bid 2: 3% per quarter, compounded quarterly Bid 3: 8.8% per...
A: When compounding effects are considered, the real return on a savings account or other interest-payi...
Q: The demand curve for prepaid internet services is given by Pd = 80 – 0.2Q and the supply curve is gi...
A: Market equilibrium is the process of determining the price through the demand and supply interaction...
Q: MIXED STRATEGY NASH EQUILIBRIUM Consider the following game in strategic form. bị b2 a1 19,1 80,70 a...
A: Mixed strategy games are those in which players choose any strategy based on a probability distribut...
Q: IHRM practices are sector-specific because a) Some sectors trade more in the alobal economy than oth...
A: When talking about international human resource management (IHRM) it is said that this management is...
Q: A young entrepreneur, Adrianna, from Tobago manages two businesses – a bakery and a car rental. In a...
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...
Q: A monopolist with a marginal cost MC = 2 faces two types of customer groups. Type 1 has it inverse d...
A:
Q: Show that the equation x + 2y- 3x +5 =0 represents a parabola. Find the focus, vertex, axis and dire...
A: Answer:
Q: Which of the following statements about the economy's aggregate demand curve is not correct? The int...
A: Aggregate demand is the total purchase of goods an services in the economy during an year. It is the...
Q: Consider the following setup for a perfectly competitive market: Suppose that for the firm, TC=625+Q...
A: Under perfect competition, a firm's decision to enter or leave the market depends upon profit is dri...
Q: what is the price elasticity of demand when the price falls from five dollars to four? Price Quan...
A: When price falls from $5 to $4, the quantity demanded increases from 20 to 25 units. Price Quan...
Step by step
Solved in 2 steps
- Based on the theory of rational ignorance, what should we expect to happen to voter turnout as the internet makes information easier to obtain?Critics of command-and-control policy often argue that regulationsare costly to business and industry, yet cost-benefitanalyses (p. 94) repeatedly show that regulations bring citizensmore benefits than costs, overall. Each year the U.S. Officeof Management and Budget assesses costs and benefits ofmajor federal regulations of administrative agencies. Resultsfrom the most recent report, covering the decade from 2003to 2013, are presented in the table (shown are averages fromranges of estimates). Subtract costs from benefits, and enterthese values for each agency in the third column. Divide benefitsby costs, and enter these values in the fourth column. What percentage of total benefits from regulations comesfrom EPA regulations? Most of the benefits and costs fromEPA regulations are from air pollution rules resulting fromthe Clean Air Act and its amendments. Judging solely bythese data, would you say that Clean Air Act legislationhas been a success or a failure for U.S. citizens? Why?Critics of command-and-control policy often argue that regulationsare costly to business and industry, yet cost-benefitanalyses (p. 94) repeatedly show that regulations bring citizensmore benefits than costs, overall. Each year the U.S. Officeof Management and Budget assesses costs and benefits ofmajor federal regulations of administrative agencies. Resultsfrom the most recent report, covering the decade from 2003to 2013, are presented in the table (shown are averages fromranges of estimates). Subtract costs from benefits, and enterthese values for each agency in the third column. Divide benefitsby costs, and enter these values in the fourth column. Which agency’s regulations have the greatest excess ofbenefits over costs? Which agency’s regulations have thegreatest ratio of benefits to costs?
- Critics of command-and-control policy often argue that regulationsare costly to business and industry, yet cost-benefitanalyses (p. 94) repeatedly show that regulations bring citizensmore benefits than costs, overall. Each year the U.S. Officeof Management and Budget assesses costs and benefits ofmajor federal regulations of administrative agencies. Resultsfrom the most recent report, covering the decade from 2003to 2013, are presented in the table (shown are averages fromranges of estimates). Subtract costs from benefits, and enterthese values for each agency in the third column. Divide benefitsby costs, and enter these values in the fourth column. For how many of the agencies shown do regulations exertmore costs than benefits? For how many do regulationsprovide more benefits than costs?When company executives buy and sell stock basedon private information they obtain as part of theirjobs, they arc engaged in insider lmding.:t Give an example of inside information that mi~;htbe useful for buying or selling stock.h. "rho,::,.. who trnriP "'tnrh hMM nn in"irlPinformation usuaUy cam very high rates ofreturn. Docs this fact violate the efficient marketshypothesis?c. Insider trading is illegal. Why do you supposethat is?1.17. Jones and Smith are running for public office. There are 99 voters.(a) Suppose the rules say that Jones wins if she receives 50 or morevotes; otherwise Smith wins. Is this method neutral?(b) Suppose the rules say that a candidate wins if he or she receivesa number of votes that is between 60 and 89. (If neither candidategets a winning number of votes, then the election is a tie.) Is thismethod monotone?(c) Suppose the rules say that a candidate wins if he or she receives anodd number of votes. (If neither candidate gets a winning numberof votes, then the election is a tie.) Is this method decisive?(d) Suppose that the rules say that Smith wins the election no matterwhat. Is this method anonymous?
- part G H I 4.7. The instant recall method works as follows. If there is a candidatewith the majority of the first-place votes, that candidate is declaredthe unique winner. Otherwise, the candidate with the plurality of thefirst-place votes is eliminated from the slate and the process is repeatedamong the remaining candidates. (Ignore the possibility that there maybe a tie for plurality winner.) The method is inspired by the recall elections that are permitted for California gubernatorial elections, which ineffect leave a system where plurality winners lacking majority supportare recallable, and so the ultimate holder of the governor’s office, if theelectorate so chooses, is the first candidate able to withstand a recall(the first candidate to have majority support) after prior plurality winners are eliminated (i.e., recalled). Arnold Schwarzenegger took office inCalifornia via a recall election.(a) Does instant recall satisfy anonymity?(b) Does instant recall satisfy neutrality?(c)…Question 3 In an OLG model with money: Each gen picks 12 banans when young, 0 bananas when old. Central bank prints out 2 units of money, given to gen 0 for free. The number of people employed in each period is Selected Answer: 0 4 Correct Answer: O 1 Answer range +/- 0 (1 - 1) Question 4 In an OLG model with money: Each gen picks 12 banans when young, 0 bananas when old. Central bank prints out 2 units of money, given to gen 0 for free. The unemployment rate of this economy is_% each period. Selected Answer: O 5 Correct Answer: Answer range +/- 0 (0 - 0)Using the figures below, construct a complete picture of the vicious circles of economic and politicalpoverty in South Africa or an African country of your choice, and outline the effects upon the poor andupon the state if the situation is not addressed by government and its public bureaucracy. If there is noreversal what would be the implications in respect of the possible collapse of the state through a popularuprising or rebellion. Discuss comprehensively, in terms of learnt theory and your observations. Inaddition to the politicians, is the bureaucracy also to blame? Can this situation be overcome? If so, how?If not, why not.
- Suppose that the demand function is given by 0 = 840 and supply furnchion is given as o =-120-2P Suppose now that govermment imposes $12 tax per unit of ourput on sellers. What is the burden on buyer2 $3 $6 O $0 $12QUESTION 48 Governors have additional veto powers compared to the President of the United States O True O False QUESTION 49 In a state with a professional legislature, elections tend to be less competitive and the cost of running for a seat is lower True FalseWhat are four responses to the claim that people should not behave in the way described in this chapter?