Given this two-sector economy:

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Every week, Mary plays the piano for three hours, and her grade on each English test is 80 percent. Last week, after playing for three hours, Mary considered playing for another hour. She decided to play for another hour and cut her study time by one hour But last week, her English grade fell to 60 percent. Did Mary make her decision on the margin? OA Mary's decision was not made at the margin because she could have chosen not to play the piano but didn't OB. Mary's decision was not made at the margin because the marginal cost of a lower grade always exceeds its marginal benefit Oc. Mary's decision was made at the margin because her grade fell by only 20 percentage points OD Mary made her decision at the margin because she considered the benefit and cost of one additional hour of playing the piano OE Mary's decision was not made at the margin because she didn't compare the total benefit and total cost of a third hour of playing the piano

In terms of spending, once it is recognized that resources are limited, there is the macro decision regarding how much the state should be spending on healthcare in total. Then there is the micro question of where and how this money should be spent, and this issue essentially concerns factor substitution and opportunity cost. A number of trade-offs are relevant here, and some examples are discussed in the following paragraphs. Beds versus equipment. Treatments are much more capital-intensive than they used to be in past decades, owing to improved technology. This has the effect of reducing hospital-stay times, and 60 per cent of patients are now in and out of hospital in less than a day compared with weeks or months previously. This can reduce the need for beds compared with equipment. Drugs versus hospitals. Health authorities may be under pressure to provide expensive drugs, for example beta interferon for the treatment of multiple sclerosis. This forces unpleasant choices. Morgan,…

Question. Describe Henry Ford through the lens of trait-theory. Make sure you include the following points:• A short description of his achievements.• Two traits that Henry Ford displays very often.• Two cognitive factors that Henry Ford displays very often.

Explain why the three (3) goals of macroeconomics are relevant

Scenario: Spring is bere at last. While Daniel is scrambling to attend state competitions and negotiate deals in Korea, applications from prospective interns are pouring in at Demi Dec every day. Returning writers from the previous Demi Dec summer have already filled over half the positions at Demi Dec. Daniel is working at selecting the other balf to write the resources and flashcards. As be searches through a large pool of talent, he must take care to hire nithin his budget. An astute economist, Daniel is quick to analyse the relationships of the varions positions at Demi Dec. On the back of a banquet program, in between webeasting the results, be drafts this "Personnel Possibilities Frontier": Personnel Possibilities A 17 • E 14 B O D 10 12 Resource Writers Flashcard Writers

What do you think is the impact of ChatGPT on the economy and job prospects, and how could it potentially change the job market?   How do economists view the use of generative AI models such as ChatGPT in terms of increasing shared prosperity and reducing income inequality?

Use real life example of autarky and explain the term.

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