1. Use the model of the production possibility frontier below to answer the followingquestions.QWheatDBECQ Carsa. Identify two sources that can cause economic growth.1.ii.b. Illustrate economic growth on the model above.

Economic growth can be caused by various factors. However, two of the most common sources are:1.…

Answered: 1. Use the model of the production…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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 seems to be correct?
ara श ते Name .****** Instructions; Answer all the questions 1. Identify the normative statement out of the following statements. 1) Sri Lanka has reported a negative economic growth in year 2020 2) When the price of a normal good increases, its quantity demanded goes up 3) It is the responsibility of the government to offer free education and health. 4) Law of diminishing returns decide the behavior of short run cost of productic 5) Trade deficit has decreased in the year 2020. 2. Identify the answer which includes only the macroeconomic topics. 1) Economic growth, inflation, money supply and searcity.
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Is there hope for a country to grow in economy?
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Refer to the information provided in Figure below for the economy of Macroland to answer the question. Capital goods A Consumer goods Refer to Figure above Macroland's production possibility frontier is bowed out from the origin due to Select one: a. decreasing opportunity costs. b. trade. c. specialized resources. d. unemployment.
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Beth can read 30 pages of astronomy in an hour. She can also read 20 pages of sociology in an hour. She spends 6 hours per day studying. **Use the blue line (circle symbol) to draw Beth's production possibilities frontier (PPF) for reading astronomy and sociology. Diagram has Astronomy Pages on the left from 0-200 in increments of 20's On the bottom of the Diagram it lists Sociology Pages numbered the same fom 0-200 in increments of 20. Beth's opportunity cost of reading 60 pages of sociology is ___________ pages of astronomy.
1. Distinguish between a command economy and a market economy. Give examples. 2. Discuss the characteristics of a market system. 3. Analyze a circular flow model showing the interaction among households, business firms, government, and the foreign sector.
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1.Explain what are economic systems? In your explanation, give indication regarding the role of an economic system 2. Discuss the nature of a Planned economic system? Your discussion should include:Ownership and Control of resources and Essential Decision making. 3. Give three (3) advantages and disadvantages of Planned Economies and Market economies. 4. Discuss the essential features of a mixed economy 5.Differentiate clearly between a Planned Economic System and a Free Market Economic System.

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1. Use the model of the production possibility frontier below to answer the following questions. QWheat D B E C Q Cars a. Identify two sources that can cause economic growth. 1. ii. b. Illustrate economic growth on the model above.