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- Identify each of the following topics as being part of microeconomics or macroeconomics: the effect of a change in the price of Coke on the purchase of Pepsi. (a) microeconomics (b) macroeconomicsThe "Freshwater" school of economic thought is commonly associated with - a. Richard Thaler b. Milton Friedman c. Hyman Minksy d. Paul KrugmanHi I got his question wrong again. The first time I chose “water can be moved from where it is plentiful to where it is needed most”- wrong. Then I sent the question in to Bartleby, and the answer given included a lot of government involvement. So I chose government intervention occurs to regulate water usage. -that was also wrong.  I still don’t have any idea what the correct answer is. It has to be either: “the price is low enough for everyone to have all the water they want” or “the market is allowed to adjust freely”. I see both being correct. Our book did discuss price gouging and price ceilings/floors. And how governments intervention can disrupt markets.
- Economics British American Tobacco (BAT) runs the largest private sector run afforestation program in Bangladesh. BAT Bangladesh initiated its afforestation program in 1980 when the forest department called on the private sector to support its endeavor to conserve the forests. BAT has contributed around 110 million saplings to the country’s afforestation initiative over the last 4 decades. As a large corporation BAT pays a significant amount of corporate tax to Bangladesh Government; recognized as one of the highest income tax paying companies in the country for the tax year 2019-20 in the last five years, the company has deposited more than Tk3,600 crore as Income Tax and Tk88,000 crore as VAT, to the National Exchequer. BAT enjoys the status of being one of the most high profile companies that are doing business in Bangladesh. a) Based on the above provide two reasons, with brief explanations, as to why BAT was involved in the afforestation program?identify each of the following topics as being part of microeconomics or macroeconomics: the effect of pollution taxes on the Canadian copper industry (a) microeconomics (b) macroeconomicsIn terms of economics, what is the significance of the following quote? “On the next exam, I made the number of points available 137, instead of 100. This exam turned out to be harder than the first, with students getting only 70% of the answers right, but the average turned out to be a cheery 96 points.”
- B. In 1651 the British established a colony in present day Suriname. In 1667, the British and the Dutch exchanged colonies. The Dutch ceded Manhattan ( area 86.97 km²) to the British in exchange for the vast territory of Suriname (163, 820 km²), that lies on the northeast coast of South America. Suriname is natural resource rich country ( gold, diamonds, oil, gas, bauxite, timber, agricultural lands). Suriname at the time wasa plantation colony producing sugar, rice, and indigo with African slave labor. Was this a fair exchange in your opportunity,In this week’s discussion, we focus on how the market changes when there are changes to the supply or demand of goods and services. (a) “This year the weather smiled on us, and we made a good crop,” said a wheat farmer in Manitoba. “But just as we made a good crop, the economic situation changed.” This quotation brings to mind the saying, “If you are a farmer, the weather is always bad.” How would use economic theory to explain that this saying might be true and what would you suggest the farmer do to make the best of the situation despite good or bad weather? (one paragraph) (b) Along with your textbook reading, review the related videos and article for a background on Canada’s marijuana legalization, then respond to the following questions:Do you see any economic effects not mentioned that might occur in the longer period? What major changes do you see happening with the supply and demand sides of the cannabis market in the long run? (1-2 paragraphs; no mini essay).Question: Imagine a small town where all residents buy their groceries from two stores: GreenGrocer and Fresh Finds. Initially, both stores charge the same prices and have the same number of customers. One month, GreenGrocer decides to decrease the price of all their fruits and vegetables by 10% to attract more customers. Assuming the quality of goods and the level of service at both stores remain constant, answer the following: 1. What economic principle explains why customers might start shopping more at GreenGrocer than at Fresh Finds? 2. If Fresh Finds does not change its prices, what could be the likely outcome for its business? 3. How might Fresh Finds respond to GreenGrocer's price reduction to maintain its customer base?