The leader of a federal political party made the following campaign promise: "My administration will increase national defense without requiring sacrifices elsewhere in the economy." The promise can only be kept if: O a) the economy moves along the production possibilities in the direction of a greater quantity of defense. b) This can only happen if the point of production of the economy shifts outwards. Oc) This could never happen. d) This will always happen..
Q: 2. = Consider the diagram to the right, which depicts the supply of broadband Internet service The…
A: demand refers to the quantity that a consumer wishes to buy at given price in given period of time
Q: If Venezuela is open to international trade of soybeans without any restrictions, it will import the…
A: This can be defined as a concept that shows the amount of tax or duty imposed by the central…
Q: The graph shows the income-expenditure model for the country of Mireland, where AE represents…
A: The marginal propensity to consume (MPC) is 0.5The government decided to reduce total spending by…
Q: "The South African Reserve Bank (Sarb) lifted the repo rate by 25 basis points on Thursday to 7.25%.…
A: It can be defined as the concept that shows an increase the activity related to the production,…
Q: If the demand curve for the market is D3, the regulator would: O increase the price of permits.…
A: Pollution permits are a market-based approach to reducing pollution. The government sets a limit on…
Q: FIGURE 2-2 O O C O B D Refer to Figure 2-2. The slope of curve D is 选择一项: O A. positive and…
A: In economics, slope refers to the change in one variable relative to a change in another variable.…
Q: What is a benefit of reducing barriers to international trade? It creates an obstacle to…
A: Trade barriers are imposed in order to protect domestic firms and control the amount of foreign…
Q: The graph shows the competitive market for fitness trackers. Draw a point that shows the efficient…
A: A competitive market refers to a type of market in which there are many buyers and sellers, the…
Q: The figure below shows an IS-LM-FE model for country with a fixed exchange rate. Initially the…
A: The IS-LM-FE model is used to analyze the interaction between goods market equilibrium (IS curve),…
Q: WAGE (Dollars per hour) 20 18 16 14 12 2 0 Supply Demand 0 30 60 90 120 150 180 210 240 270 300…
A: The demand function reflects an individual’s willingness to pay for each unit of the quantity he or…
Q: Which of the following is an example of price discrimination? Select one alternative: Airline…
A: Economics is a social science that studies how individuals, businesses, governments, and societies…
Q: Suppose the world supply curve is p = 20+ 0.02Q, and the demand curve of other countries of the…
A: Quantities of a good or service that people are ready to sell at various prices within some given…
Q: For private goods allocated in markets, a) prices guide the decisions of buyers and sellers and…
A: Efficient Allocation of Resources:Efficient allocation of resources refers to the optimal…
Q: Suppose the desired reserve ratio is 10 percent and that chartered banks collectively have $2…
A: Reserve ratio is a term used in finance and banking that refers to the percentage of deposits that…
Q: If a manufacturer of electronic devices invests $620,000 in equipment for making compact…
A: Initial investment =$620,000Annual revenue = $230,000Salvage value = $64,000The life of the…
Q: Consider a simple demand-and-supply model of a competitive labour market in a small town. The demand…
A: In the labor market there is a demand for labor (firms make demands for labor) and supply of labor…
Q: Consider Figure 1 to answer the questions that follow. Figure 1 represents a budget constraint for a…
A: Budget constraint shows the relationship between the two goods, their prices and the income of the…
Q: The graph shows Esther's best affordable point at A. The price of seeing a movie rises and Esther's…
A: SE and IE are two components of the effect of the price change. SE reflects the change in quantity…
Q: Ch. 4. Agglomeration Economies and Equilibrium vs. Efficient Cluster Size The graph shows the…
A: Pareto efficient point refers to the point deviating from which no one can be made better off…
Q: one of the most common mistakes people make when doing cost benefit analysis is: a. forgetting…
A: A cost-benefit analysis is a methodical approach to analyzing the costs and benefits of a decision…
Q: Which of the following are true regarding profits, revenues, and costs?
A: We are going to look into every option and try to understand all the given option.
Q: To maximize utility, consumers choose a consumption bundle OA. where the slope of the budget…
A: An indifference curve is a graphical representation that shows different combinations of two goods…
Q: You read the financial news in The Wall Street Journal every day and subscribe to various government…
A: The question asks you to identify the type of expectations a person has based on their behavior of…
Q: According to the Solow Growth Model, each of the following leads to higher level of output and…
A: The Solow Growth Model, made by Robert Solow during the 1950s, is a seminal economic model that…
Q: of discretionary policy to stabilize the economy Should the government use monetary and fiscal…
A: Government policy is a description of the government's political actions, strategies, and goals in…
Q: 5. Al's Aluminum Company sells $1 million worth of aluminum to Shiny Foil Company, which uses the…
A: Gross domestic product (GDP) refers to the total monetary value of all final goods and services that…
Q: A service-based economy is less likely to be a source of prosperity than a goods-based economy. true…
A: The issue and claim, "A service-based economy is less likely to be a source of prosperity than a…
Q: then the Annual Real GDP Per Capita will go down if we assume no change in the real GDP
A: Real GDP per capita is a measure of the share of GDP that is held with each person. The Real GDP per…
Q: Use the data for the United States in this table to answer the following questions: Year 2018 2019…
A: Percentage Change:Percentage change is a measure that expresses the difference between two values as…
Q: 39. Suppose that the demand for picture frames is highly inelastic, and the supply of picture frames…
A: The tax burden will be divided between buyers and sellers; and the tax share will be depending…
Q: Checkpoint Which of the following sentences use correct capitalization? Check all that apply. The…
A: Economics is a social science that studies how individuals, businesses, governments, and societies…
Q: Note: Select one of the curves and drag it to the desired position. The curve will snap into…
A: Government spending, also known as public expenditure or government expenditure, is the total amount…
Q: The figure below depicts the economy of Altrua, which is presently in equilibrium Enter your…
A: A recessionary gap, is a macroeconomic phrase that describes the discrepancy between an economy's…
Q: Which of the following bond has the best value to an investor to t a) A 5 percent coupon bond priced…
A: A government, business, or other body may issue bonds as a financial instrument or debt security to…
Q: ST A. Panel 11 C. Panels 1 and 2 Panel 1 Q₂ Q₁ Quantity S₂ S₁ PA P. Panel 2 Q3 Q4 Quantity D₂ hift…
A: Externality refers to the external cost or benefit generated as a result of the production or…
Q: Refer to the diagram to the right. In the long run, why will the firm produce Q, units and not Qg…
A: In monopolistic competition, There exists a large number of buyers and sellers. The firm will…
Q: 4 5 10 15 20 25 30 35 40 45 50 55 60 Soya beans (millions of kilos) a) Suppose that due to a bad…
A: Supply is defined as the quantity that is supplied by the producer in the economy. If the price of a…
Q: 29. The equilibrium quantity CA. is the quantity demanded at the equilibrium price, but not…
A: An equilibrium point, in the context of economics condition where opposing forces or factors are in…
Q: Suppose a competitive market is comprised of firms that face identical cost curves. The firms…
A: In a competitive market, the dynamics of supply and demand play a critical role in determining the…
Q: The diagrams show the monetary equilibrium and the demand for investment. The economy begins with…
A: Economics is a social science that studies how individuals, businesses, governments, and societies…
Q: QUESTION 1 مرام الياري O Quantity (A) Refer to the graphs above. Which one shows a perfectly elastic…
A: Price elasticity of demand (PED), sometimes known as just "price elasticity," is a term used in…
Q: (Figure: Demand for Tuna Sandwiches) The graph shows Beatriz's weekly demand for tuna sandwiches…
A: Demand refers to the quantity of goods and services that consumers demand at a point in time. There…
Q: wo children living in a neighborhood have decided to go into business running lemonade stands. Annie…
A: Supply refers to the quantity that a producer wishes to sell at a given price in given period of…
Q: What is the opportunity cost of increasing the production of wheat and moving from point C to point…
A: From the given diagram, the coordinates of point C are (80, 45) and the coordinates of point B is…
Q: Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily…
A: Average Product of Labor (AP): The Average Product of Labor (AP) is a measure of the average output…
Q: The competitive equilibrium rent in a standard two edroom apartment in Lawrence (a city) is $60 Now…
A: Price ceiling is the maximum price at which goods can be sold. It is set by the government and its a…
Q: Below is a graphical representation of the wheat market in the distant land of Nod. Price $8 6 2 0…
A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…
Q: PRICE (Dollars per ton) 950 905 860 815 770 725 680 635 590 545 500 + Supply Demand Pw 0 50 100 150…
A: This can be defined as a concept that shows the amount of tax or duty imposed by the central…
Q: For each of the following scenarios, determine which time lag is most likely to result when…
A: Fiscal policy refers to the use of government spending and taxation to influence the aggregate…
Q: Quantity of C Refer to the budget line shown in the diagram. Which of the following combinations of…
A: The budget constraint represents all the combinations of the goods and services that the consumer…
![The leader of a federal political party made the following campaign promise: "My
administration will increase national defense without requiring sacrifices elsewhere
in the economy." The promise can only be kept if:
O a)
the economy moves along the production possibilities in the direction of a
greater quantity of defense.
b)
This can only happen if the point of production of the economy shifts
outwards.
Oc) This could never happen.
d) This will always happen..](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb93ab989-c3fc-4c40-b581-b08fc62dbb12%2Fdce7feaf-3877-4271-9190-64fe74aff259%2F329ei35_processed.png&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- nvellu Xl.com/Student/PlayerHomework.aspx?homeworkld=611294898&questionld=8&flushed%3Dfalse ITMG 1B Econ 2100 Homework: Basics ... Question 8, 1.1 Question... HW Scor > O Point: nic The problem of scarcity O A. can be solved in a market economy. O B. exists because the unlimited human wants cannot be satisfied with limited resources. O C. would disappear if there were no market failures. O D. exists because the limited human wants cannot be satisfied with available resources. O E. always results in shortages of some goods.Steel (millions of tons) 8 30 20- 10 0 Country A Production possibilition curve 10 20 30 40 Chemicals (millions of tons) From the diagrams, it can be seen that 50 Steel (millions of tons) 8 20 10 0 Country B Production possibilities curve 10 20 30 40 Chemicals (millions of tons) O the slopes of the two curves indicate both countries will specialize in chemicals. O country B has an absolute advantage in both commodities. O it is more costly in terms of resources to produce steel in country A. O country B has a comparative advantage in chemicals. O country A has a comparative advantage in both commodities. 50Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40
- Please answer in explain each option , and as soon as possible.thank you.An economy produces two goods ,X and Y .lt uses two means of production, labour and capital. A unit of labour can produce either 1unit of X or 4units of Y (or linear combination of the two).A unit of capital can produce either 4units of X or 1unit of Y (or linear combination of the two)there are 100units of each means of production. (i) Draw the production possibility frontier of the economy when the two goods can only be produced by a mixture of both factors. (ii)What will be the opportunity cost of X if the economy produces 50units of X ? (iii) Given that the production technology is linear ,will the opportunity cost of X remain unchanged when we produce 90units of X ? (iv)Briefly explain the difference between the PPC with a constant opportunity cost and the PPC with an increasing opportunity cost as more output of one good is produced. Use a well labeled diagram to explain your answer?Below is the production possibilities table for consumer goods (maize) and capital goods (tractors):Type of productionProduction possibilities A B C D Emaize 30 27 21 12 0Tractors 0 2 4 6 8i. Show these data graphically. ii. If the economy is at point C, what is the cost of one more unit of maize? iii. Suppose improvement occurs in the technology of producing tractors but not in the technology of producing maize. Draw the new production possibilities curve. iv. Now assume that a technological advance occurs in producing maize but not in producing tractors. Draw the new production possibilities curve. v. Now draw a production possibilities curve that reflects technological improvement in the production of both goods.
- The graph below is Mendork's production possibility curve for the only two goods that it produces-quirks and quarks. Quantity of Quarks 800 700 600 500 400 300 200 100 A 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks Select one: Refer to the graph above to answer this question. If new technology increased the output of quirks by 50%, how many quirks could be produced if 700 quarks were produced? B A. 9 quirks. B. 18 quirks. C. 10 quirks. D. 20 quirks. E. No quirks.1. Consider the following conversation.CHAD: “None of the COVID-19 vaccines in Canada has full Health Canadaapproval, and if you get injured from the vaccines, then the pharmaceutical companiesare not liable. Furthermore, the vaccines do not prevent against the spread ofcoronavirus, though they may reduce symptoms. However, their efficacy wanes aftera few months.”VIRGO: “Vaccines have helped humanity to conquer diseases like tetanus andsmallpox. Why are you saying that vaccines don’t help at all?”Which logical fallacy does Virgo commit?(A) Argument from authority.(B) Ad Hominem.(C) Post Hoc Ergo Procter Hoc.(D) Straw Man.Assume that a business firm finds that its profit is greatest when it produces $40 worth of product A. Suppose also that each of the three techniques shown in the table below will produce the desired output:a. With the resource prices shown, which technique will the firm choose? Why? Will production using that technique entail profifit or loss? What will be the amount of that profifit or loss? Will the industry expand or contract? When will that expansion or contraction end?b. Assume now that a new technique, technique 4, is developed. It combines 2 units of labor, 2 of land, 6 of capital, and 3 of entrepreneurial ability. In view of the resource prices in the table, will the fifi rm adopt the new technique? Explain your answer.c. Suppose that an increase in the labor supply causes the price of labor to fall to $1.50 per unit, all other resource prices remaining unchanged. Which technique will the producer now choose? Explain.d. “The market system causes the economy to conserve most in…
- Please solve the problem as quick as possible!! Thank you very much!! ..1.Under what conditions is the production possi bilities frontier linear rather than bowed out? 2.Explain how absolute advantage and compara-tive advantage differ. 3.Give an example in which one person has anabsolute advantage in doing something butanother person has a comparative advantage. 4.Is basoute advantage or comparative advantage more important for trade? Explain yourreasoning using the example in your answer toQuestion 3..If two parties trade based on comparativeavantage an ot gain, in wat range mustthe price of the trade lie?.Will a nation tend to export or import goods forwhich it has a comparative advantage?Panel (a) Panel (b) ↑sefas 28 sofas 26 26 A 24 24 22 22 20 20 18 18 16 16 14 14 12 12 10 10 8 8 6 4 4 2 tractors 1 2 7 8 tractors 2 3 4 5 6 Refer to Figure 2-10, Panel (a) and Panel (b). Which of the following is not a result of the shift of the economy's production possibilities frontier from Panel (a) to Panel (b)? O a. The tradeoff between the production of tractors and sofas changes. O b. Production of 2 tractors and 10 sofas becomes efficient. O c. Production of 6 tractors and 14 sofas becomes possible. O d. The opportunity cost of a sofa is higher at all levels of sofa production.
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)