Q: 9 Introduction to Economics Please solve it very quickly ????
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- Figure 2-4 50 45 40 25 35 30 28 25 20 15 10 5 V Z 10 20 30 40 50 60 70 80 opak Refer to Figure 2-4 Suppose this economy is producing at point W. Which of the following statements would best explain this situation? a) The economy lacks the resources to produce at a more desirable point. b) The economy's available technology prevents it from producing at a more desirable point. c) There is widespread unemployment in the economy. d) Any of the above statements would be a legitimate explanation for this situation.1 Introduction to Economics Please solve it very quickly ????NEWS WIRE NORTH KOREA'S ROCKETS DEEPEN FOOD CRISIS North Korea's Rocket Launches Cost $1.3 Billion North Korea's rocket program is costly. In December 2012 North Korea successfully launched a long-range rocket carrying a satellite into space. That feat cost $300 million. The entire cost of the rocket program last year - including the failed launch in April - totaled about $1.3 billion according to estimates by South Korea experts. With that much money North Korea could have purchased 4.6 million tons of corn - enough to feed its population for 4-5 years. North Korea's ambitious nuclear program costs nearly triple that amount. The burden of North Korea's military program is evident in widespread poverty and periodic starvation. Source: News accounts of December 2012 - January 2013. According to the News Wire, what is the opportunity cost of North Korea's rocket program in terms of corn for North Korea's 25 million people? million tons of corn
- 3. Suppose you currently earn $80,000 a year. You are considering a job that will increase your lifetime earnings by $400,000 but that requires an MBA. The job will mean also attending business school full time for two years at an annual cost of $70,000. You already have a bachelor’s degree, for which you spent $150,000 in tuition and books. a. Which of the above information is relevant to your decision on whether to take the job? b. What is the opportunity cost of going to school to study MBA? c. Should you take the job? [Note: You will need to get the MBA]Eastern New Mexico UX Ⓒ Katey ✓ My Home Courses Catalog and Study Tools Rental Options College Success Tips Career Success Tips Help @ Give Feedback 91°F Mostly cloudy Students - MyENMU X International EconomicX CENGAGE MINDTAP Homework (Ch 08) https://ng.cengage.com/static/nb/ui/evo/index.html?deploymentId=5894682496242974058071538219&elSBN=9781337 7. Economic costs and benefits of a common currency Attribute Greater certainty for investors Lower protectionism Elimination of exchange fluctuations MindTap - Cengage Le X Dependent monetary policy Greater risk of macroeconomic shocks Identify whether each attribute in the following table is an advantage or disadvantage of sharing a currency across country boundaries. Advantage Disadvantage Which of the following are reasons NAFTA is considered Similar economic structures a suboptimal Low efficiency gains Labor immobility A single monetary policy that is equally effective across borders an optimal MindTap - Cengage Le X HH MindTap -…Summary: In what ways does a society's values determine how it answers the question, "Who gets how much of what? THE ONLY QUESTION YOU HAVE TO ANSWER IS THE SUMMAR QUESTION ABOVE. Central Question of Economics: "Who Gets How Much of What?" Scarcity is a fundamental economic problem of having seemingly unlimited human wants in a world of limited resource Who?: Who are we talking about? Who are the players in the economics world? Men, Women, Children, Governments, The Elderly, Corporations, Developed/Developing Nations What?:What are we talking about? What are the things that an economic system produces and distributes? Property, Land, Housing, Utilities, Food, Clothes, Education, Jobs, Taxes, Healthcare, Transportation (cars, planes, etc.), Communications, and Electronic Devices How Much Of? Name other ways of saying “how much of something?” Years, Frequency, Size, Quantity, Amount
- 8Give typing answer with explanation and conclusion Which of the following is a strong economic factor in the existence of mid for medieval cities? indivisble parts in production economies of scale in protection economies of scale in transportation efficiencies in consumption5. What is Dutch disease? Write any one impact of Dutch disease in GCC economics.
- 7. I The assigned New York Times and VOX articles summarize some of economists' feelings about the resiliency of cities in the face of COVID-19 and the growing acceptance of the work-from-home lifestyle. Please summarize these views. What are your thoughts? Will remote work doom cities or are agglomeration economies believed to be strong enough so that cities will retain their productivity advantage?12 Introduction to Economics Please solve it very quickly ????Can some one help me understand how to get to the answer?
