Question 38The statement "what's good for General Electric is good for the nation" is an example of:the ceteris paribus statement.O confusing assumption and causation.the fallacy of composition.disguising a positive statement as a normative statement.

Fallacy of composition: - The fallacy of composition is referred to the argument of something being…

Answered: The statement "what's good for General…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The branch of economics that studies the decisions of individuals and firms is called O macroeconomics. O normative economics. O positive economics. microeconomics and macroeconomics. O microeconomics.
2. Below is a production possibilities frontier (PPF) for Happyland, acountry that produces only two goods- wine and cheese. wine cheese a) Explain what the production possibilities frontier is and how it illustrates scarcity. b) What happens to the marginal opportunity costof cheese production in Happyland as the country increases its cheese production? (increase, decrease, unchanged or indeterminate?) Explain how you can tell this from the PPFand why it happens. c) Briefly describe two specific policies the government of Happyland could undertake to shift out their PPF in future periods. (By specific policies, I mean something they can actually do to change productivity for either or both of these goods. "Increase resources," for example, is not a specific policy. What resources and what type of policy could increase the resources used for either of these products?)
The questions are attached in the image. The questions are based on 'General equilibrium' model in 'economics'. (please do not tag it in some other subject) These are simple Multiple choice questions which are undergrad level. Please do not reject them. The answers to 45,46 and 47 are D,C and C respectively. Please answer the following as well: 1. For 45, provide the set of pareto efficient outcomes. 2. For 46, provide an algebric solution if possible. Provide a mathematical argument. 3. For 47, provide provide a set of points (if exists) that will take us to the given equilibrium under the given conditions. The questions are easy. PLEASE DO NOT REJECT IT!

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The statement "what's good for General Electric is good for the nation" is an example of: the ceteris paribus statement. O confusing assumption and causation. O the fallacy of composition. disguising a positive statement as a normative statement.