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- During the COVID-19 Lockdown in May, many rickshaw-pullers left the market of rickshaw-rides and went to their village homes to pursue other work. What can you conclude from the given information?Discuss all conclusions in detail.Fred wants to hire Barney to manage his retail store. Barney can apply a high level of effort (at a cost to him of $30), a medium level of effort (at a cost to him of $10), or a low level of effort (at a cost to him of $0). Fred's profits depend not only of the level of Barney's effort but also on the state of consumer demand. Fred believes that demand will be high with probability 50 percent (and therefore demand will be low with probability 50 percent). Fred has determined the following possible profit levels (before paying Barney) will occur depending on Barney's effort and the state of consumer demand: Demand low high effort low 20 40 medium 40 80 high 80 100 Of the choices below, what is the largest percentage range of profit provided to Barney that would ensure Barney would supply high effort? a. any percent greater than 75.00 percent (3/4). b. any percent greater than 66.66 percent (2/3). c. any percent greater than 50.00 percent (1/2).d. any…Note: this is an economics question. *What were the policy responses used to combat the shortage of hand sanitizer, masks and disinfectant products during the covid-19 pandemic? *Explan.
- Due to an increased number of patients seeking COVID-19 tests and counseling, the clinic and the counseling centre at the leading public hospital was converted to provide both health screening services and counseling services. Using all of its staff, the clinic can screen a maximum of 10 clients or it can counsel 6 clients. Using all of its staff, the counseling centre can screen a maximum of 6 clients or counsel 12 clients. Who has the absolute advantage in health screening? Who has the absolute advantage in counseling services? Who has a comparative advantage in health screening? Who has a comparative advantage in counseling services? What is the opportunity cost of counseling services?The COVID-19 pandemic has increased sales at large grocery stores. How can store managers influence customer perceptions of service quality in a post-pandemic economy?Critically evaluate the determinants of supply that have been affected by the COVID-19 pandemic. In your response, analyse the factors that led to the shifts in supply (production and distribution) of goods and services. Consider the impact of government policies on the market supply, such as lockdowns and stimulus measures, and provide examples from specific industries or countries.
- QD1 = 12-4P1 + P2, QS1 = 3+2P1-5P2. solve for P equilibrium and Q equilibriumConsider the market for pasta. Assume that the keto diet becomes more popular. What is the initial effect? How does the market adjust? What is the effect on equilibrium? What is the net effect on the equilibrium of the events of 5 and 6?The COVID-19 pandemic has substantially affected the Canadian economy in several dimensions. As the Canadian governments, both federal and provincial, have issued various forms of "stay home" instructions, workers have to work from home. Working from home has two effects: firms are now less productive and hence the current TFP z declines; labor supply Ns (r) declines. In addition, consumers can only go grocery once a week and hence consumption demand Cd (r) declines for any level of interest rate and income. Answer the following questions. 1. Use a real business cycle model that we studied in Chapter 13 to analyze the impact of Covid-19 in terms of output, employment, consumption, investment, wage, interest rate, money demand, and price. Make sure you show three figures: A figure illustrating the goods market, a figure illustrating the labor market, and a figure illustrating the money market. (In this question we assume that the change in output supply dominates the change in output…
- The blue curve on the following graph shows the tradeoff between security and tourism; that is, combinations of security and tourism above the blue curve are not possible, and those on or below the curve are possible. The vertical axis measures security, defined as the probability that a terrorist is intercepted before entering the country. The horizontal axis measures the number of yearly visitors to the United States, in millions. Suppose that before 9/11, there were 55 million visitors per year, and the probability of intercepting any particular terrorist at customs and immigration was 10%, as indicated by the purple point (diamond symbol). After the 9/11 attacks, a debate is held in Congress. Members of both parties agree that security measures need to be improved. However, there is some disagreement as to how much additional security is needed. Suppose the first bill that is introduced mandates that security be improved so that the probability of catching a terrorist at the border…The COVID-19 pandemic has substantially affected the Canadian economy in several dimensions. As the Canadian governments, both federal and provincial, have issued various forms of "stay home" instructions, workers have to work from home. Working from home has two effects: firms are now less productive and hence the current TFP z declines; labor supply Ns (r) declines. In addition, consumers can only go grocery once a week and hence consumption demand Cd (r) declines for any level of interest rate and income. Answer the following questions. 1. Use a real business cycle model that we studied in Chapter 13 to analyze the impact of Covid-19 in terms of output, employment, consumption, investment, wage, interest rate, money demand, and price. Make sure you show three figures: A figure illustrating the goods market, a figure illustrating the labor market, and a figure illustrating the money market. (In this question we assume that the change in output supply dominates the change in output…Recall that meat production increases when consumer demand for meat increases. Based on the graph above, which statement correctly describes the smog events in the United States? Assume that all other contributors to smog remained constant during this time period. Before 2000, there were more smog events in the United States than in China, while after 1990, there were more smog events in China than in the United States. Before 1990, there were fewer smog events in the United States than in China, while after 1990, there were fewer smog events in China than in the United States. Before 2000, there were fewer smog events in the United States than in China, while after 1990, there were fewer smog events in China than in the United States. Before 1990, there were more smog events in the United States than in China, while after 1990, there were more smog events in China than in the United States.
