Step3, part b of the question: it asks for equilibrium level of C.  If formula for C is C= 1000+ 0.8Yd,  then since at equilibrium Y=7000 shouldn't C be equal to  C= 1000 + 0.8(7000-350) = 6320?   If so, than the last part of the question regarding S should be 7000-6320= 680 Please let me know where I am wrong

Q: 1) What are the goals of monetary policy according to the amended Federal Reserve Act? A) no…

A: This question focuses on the goals of monetary policy according to the amended Federal Reserve Act…

Q: Use the following table to find percentage changes in the cost of living (COL) from 2020 to 2021:…

A: The cost of incorporating housing, food and transportation for the year between 2020 to 2022 is…

Q: equired information he following data is provided for a PPP project. Benefits Disbenefits To the…

A: The Benefit-Cost Ratio or B/C ratio is a financial metric utilized to calculate the attractiveness…

Q: Recall that Casper's utility function is 3x + y, where x is his consumption of cocoa and y is his…

A: The want satisfying power of any commodity or service is known as utility. The utility function is a…

Q: Question 3 Widgets 600 500 István 100 Fritz 200 Doodads Based on the above production possibilities…

A: A country is said to be absolutely advantageous when it produces certain goods at lower per unit…

Q: If the price in the market is $1,600 how will the market respond? O Prices will rise to eliminate a…

A: The graph is provided below:The graph shows the demand and supply curves for a product.The demand…

Q: The fact that attendance falls at Greensboro Grasshopper baseball games when income increases…

A: In examining the dynamics between attendance at Greensboro Grasshopper baseball games and income, it…

Q: Refer to Figure 15-22. Based upon the information shown, what is the deadweight loss created by…

A: One seller or manufacturer controls the entire market in a monopoly. In a monopoly, the supply and…

Q: 5. Consider a firm that produces a product with the following Cost Curves. The cost curves include…

A: AVC curve is the average variable cost curve, it represents the average cost which is incurred…

Q: Price Level b Multiple Choice O AS Real Domestic Output O U a Refer to the diagram. Rational…

A: This problem asked us to evaluate the impact of a fully anticipated shift in aggregate demand from…

Q: What is meant by intermediate goods and services? O a) The same as capital goods, such as plant,…

A: Intermediate goods and services play a crucial role in the economy. They refer to products or…

Q: Price Quantity TR 20 200 209 19 18 16 14 10 11 12 13 12 216 208 168 At what price is marginal…

A: Total revenue equals price times quantity. Marginal revenue is equal to the change in total revenue…

Q: f a purely competitive firm is facing a situation where the price of its product is lower than the…

A: A purely competitive firm is a price taker. It must accept the price of its output as measured by…

Q: MV = PQ = 2 Q = 1000 (Quantity of Money in circulation) x (Velocity of money) Velocity is equal to 2…

A: MV = PQ   (Quantity theory of money ) Here, M is the quantity of money in circulation, V is the…

Q: The concept of diminishing marginal utility says that the satisfaction level of human beings drop as…

A: The principle in question examines the economic theory of marginal utility, which addresses how the…

Q: (a) Carefully comment on the picture below, which represents the value function according to…

A: The 1979 development of prospect theory by psychologists Daniel Kahneman and Amos Tversky explains…

Q: A village is located next to 1000 acres of prime grazing land. The village presently owns the land…

A: The tragedy of the commons is the concept in economics that states the problem of social cost that…

Q: A possible explanation for supply shifting from S1 to S2 is     a) an improvement in technology.…

A: The supply is defined as the stock of goods and services available to the economy. The producers…

Q: In the short run, if the central bank decreases the money supply, the currency will ______ and…

A: Macroeconomic analysis provides a comprehensive picture of the financial status of an economy. It…

Q: Room Cleaning First Second Third Fourth Fifth Aisha's Willingness to Pay Sara's Willingness to Pay…

A: Decision-making in economics, factoring in willingness to pay, directs choices based on individuals'…

Q: An example of a predatory trade practice is: tariffs, duties and quotas subsidies trade and…

A: Predatory trade practices are strategies used by countries to distort the market in favor of their…

Q: Suppose the economy's price level is 2 and real GDP is 30 , 000 for the year. Suppose the money…

A: the velocity of money, which measures the frequency with which one unit of currency (e.g., a dollar)…

Q: K Suppose that a firm's production function is q=5x0.5 in the short run, where there are fixed costs…

A: A production function is a fundamental concept in economics that encapsulates the relationship…

Q: explain the trends in CPI projections and real GDP of 2022-2023 in canada

A: The GDP is an indicator of a nation's economic production during a given time frame, often one year.…

Q: Consider that Figure 16-5 represents a monopolistically competitive firm. What does the distance…

A: The monopolistic competitive market refers to market where many sellers exist in the market. Each…

Q: Contingent Valuation or State Preferences. This method is increasingly used to put values on…

A: Contingent Valuation (CV) is a method used to estimate the value that individuals place on…

Q: Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be…

A: The graph depicts the association between the amount of Maroon 5 TV appearances and guitar demand…

Q: A decrease in the price of foreign oil will affect the U.S. economy by O a. decreasing aggregate…

A: Aggregate Demand (AD): Aggregate demand represents the total quantity of goods and services that all…

Q: If the probability Jane will develop a health problem is greater than that of Adriana, and if they…

A: This can be described as a contractual arrangement where an individual or entity pays a premium to…

Q: Alex and Becky each rent one unit of a two-unit apartment building. The building has two separate…

A: The goods and services which have the unique characteristic of non-excludability (consumption by one…

Q: Describe the construction of the firm’s demand curve for labour in the short run. Describe the…

A: Demand is the desire of an individual ability and willingness to pay for a product. The demand is…

Q: 9. Suppose a firm is collecting $100 in total revenues when it sells 10 units and it receives $110…

A: Since you have posted multiple independent McQs, according to the guidelines, only the first McQ is…

Q: In the foreign exchange market in which U.S. dollars are exchanged for Mexican pesos, which of the…

A: This problem focuses on understanding the relationship between demand for the U.S. dollar and its…

Q: LEMONADE 500 450 400 350 300 250 200 150 100 50 1 pizza Alice's PPF Figure 1 4. According to Figure…

A: The opportunity cost is the next best alternative cost that is foregone.It is the profit missed by…

Q: 1. (Cornelius and David) Which of the following statements is true? a. Cornelius' opportunity cost…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: About five decades ago, when The Environment Protection Agency was created about, it decided to…

A: Decades ago, the establishment of the Environmental Protection Agency (EPA) marked a pivotal moment…

Q: interest rate

A: The interest price is the amount a lender costs a borrower and is a percentage of the main—the…

Q: Market supply is: QS = 400P - 500. Market demand is: QD = 500- 100P The equilibrium price, P, is 0 3…

A: The equilibrium point is achieved whenever the economy does not experience any form of resource…

Q: DEFINITIONS AND FACTS Mark all of the following statements that are correct. Select one or more: One…

A: Nash equilibrium:It is a sub-topic of game theory in which players play games and use strategy and…

Q: What constitutes the basic financial statements for a government?

A: Financial statements helps government to know the financial position of the business and the balance…

Q: B C A F D2 Di a movement from Point A to Point B Refer to Figure 1. Which of the following movements…

A: Loanable fund is the amount of funds available with banks to be given for loans. The demand for…

Q: Quantity Price 0 20 1 18 2 16 3 14 4 12 5 10 Are the price and quantity combinations above for a…

A: In the perfect competition, a demand curve of the firm will be perfectly elastic as it is an…

Q: The minimum efficient scale is the smallest quantity of output at which the average fixed cost curve…

A: The minimal level of output or production at which a business can generate goods or services at the…

Q: Which major event led to the rise of sociology as a discipline? The Crusades Industrial Revolution…

A: The objective of the question is to identify the major event that led to the emergence of sociology…

Q: In the Output-Exchange rate space, draw the AA schedule using the line or curve drawing tool. Label…

A: AA curve is the curve for depicting equilibrium in the asset market. This curve is downward sloping.…

Q: Total Utility 110 100 90 80 70 60 50 40 30 20 10 0 Units of a good 1). The marginal utility of the…

A: Marginal utility = It is the change in total utility due to change in quantity by 1 unit

Q: If a $6 billion economy is growing at a real rate of 5 percent a year and there is no inflation,…

A: This question asked us to determine what action the government needs to take to maintain a constant…

Q: newspaper article mentions that two of South Korea’s largest semiconductor manufacturers, - Samsung…

A: The equilibrium occurs when the demand and supply forces are equal. The cost factor affects the…

Q: Which of the following statements is true? O a) Microeconomics is concerned chiefly with the economy…

A: Prior to plunging into the particular assertions you've given, it's fundamental to comprehend the…

Q: ose the demand and supply curves for unskilled labor in the labor market are as shown in the…

A: A labor market is a market where people offer their skills to employers in exchange for wages,…