Do Homework - Basics of Econ, Opportunity Cost, Production Possibilities. - Google ChromeA mathxl.com/Student/PlayerHomework.aspx?homeworkld%3D6112948988&questionld%3D298&flushed%3Dtrue&cld%3D6721186¢erwi-ITMG 1B Econ 2100Kanish Bhardwaj &HW Score: 0%, 0 of 81 pointsO Points: 0 of 1Homework: Basics ...Question 29, 2.1 Questio...>The statement that "most economists are of the opinion that rent controls will usually leads to a housing shortage" isO A. positive, since its accuracy can be verified.O B. normative, since it references the opinions of economists.O C. both positive and normative.O D. positive, since it is true.II

Positive analysis is fact based and it studies 'what is' and normative analysis is about 'what ought…

Answered: The statement that "most economists are…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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To which one of the following would the Sale of Goods Act not apply? Select one: O a. The purchase of a vacant cottage. O b. The purchase of a Mercedez Benz sports coupe. O c. A contract for the sale of tangible personal property. O d. A contract for the purchase of a new air conditioner.
It is often argued that during periods of rapid demand expansion, when prices arerising, poor people should be protected from rising prices by imposing price controls on“necessities.” Analyze the short-run and long-run effect of imposing a maximum price belowthe equilibrium in a competitive market that is experiencing rising demand.a. Do price controls really protect poor people better than the operation of competitive markets does in the long run? Explain.b. Provide a numerical example.c. Provide a graph.
Use the following data to draw the supply and demand curves on the accompanying graph. Price $8 $7 $6 $5 $4 $3 $2 $1 Quantity demanded 3 4 7 8 10 Quantity supplied 9 8 7 6 4 3 2
According to the public choice model, how do policymakers arrive at their decisions? The public choice model suggests that O A. policymakers will follow the preferences of the majority. OB. policymakers will act randomly. c. policymakers will take actions that are in the public interest. D. policymakers will act to maximize government tax revenue. O E. policymakers will pursue their own self - interest.
Economics Select one: O a. is concerned with unlimited wants. O b. is a social science. O c. is concerned with limited resources. O d. All of the above are correct.
A major event such as a disastrous hurricane or national security crisis which attracts widespread media attention to an issue and can impact one's preferences on that policy area is known as a(n), Not yet antwered Select one: O a. focusing event O b. framing Oc. priming O d. policy development
You are given the following different technologies for producing 100 metres of cloth. Tonnes of coal 10 9 8 7 65 2 1 D 2 3 4 5 6 7 Number of workers Select one: O a. Technology B dominates technology D. O b. O C. E 8 9 10 Technology D is more energy-intensive than technology C. Technology A is the cost-minimising technology at all prices of coal and wages. O d. Technology C can sometimes be a cheaper technology than A CLEAR MY CHOICE
Consider the market for pizzas, Suppose that the price of pizzas decreases; which statement below explains best what happens on the supply side? Select one: a. Some new producers will enter the market since now P> their MC. O b. Producers with high MC will exit the market due to the higher price. c. All existing producers will want to produce more tablets. O d. Producers with high MC will not change their behaviour.
Central economic planning may be most appropriate for achieving consumer sovereignty. O maximum household utility levels. O spurts N rapid industrial growth in heavy industry. overall efficiency in production. O diverse assortment of consumer goods.
Are markets always in equilibrium? Select one: O a. Uncertain, economic theory has no answer to this question. O b. No, they never "settle down" into a stable price and quantity. O c. Yes, they are always at the equilibrium point, or very close to it. O d. No, but if there is no interference, they tend to move toward equilibrium. O e. Yes, because few things tend to alter supply and demand.
tulet10r.01.038 The study of microeconomics and macroeconomics differ in that: a. microeconomics examines the individual markets of the economy while macroeconomics studies the whole economy. b. microeconomics examines the whole economý while macroeconomics studies the individual units of the economy. O c. microeconomics is concerned with the domestic economy and macroeconomics is concerned only with the international economy. O d. microeconomics studies the actions of households and macroeconomics studies the actions of business firms. stions Navigation Menu
"Most South Africans travelling locally this festive season aim to spend less than R1,000 a day, according to the results of a recent survey conducted by Cape Town Tourism (CTT). A third of the 1,250 South Africans surveyed by CTT said they wouldn't be going away this December. For 70% of these respondents, financial constraints were cited as the main reason for staying at home." If a consumer's budget during the festive season is represented by a production possibilities curve, which of the following would be true? O A. The production possibilities curve would be upward sloping? O B. The production possibilities curve is plotted with spending on the one axis, and saving on the other. O C. The production possibilities curve would be a straight line. O D. Financial constraints would cause the PPF to shift outwards.

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