Q: it is easier for governments to change taxes or spending plans?What
A: In an economy, government uses fiscal policy to influence the economic condition in the long-run as…
Q: What function of money is highlighted when someone deposits a portion of his or her paycheck into an…
A: Money means the medium of exchange.
Q: Can this scenario be beneficial to the Philippines? Explain your reason. Scenario - The Philippines…
A: The growth and development of a nation depend upon the economic and social welfare of its people.…
Q: Last year, a toy manufacturer introduced a new toy truck that was a huge success. The company…
A: Given:Plastic injection molding machine=$45,00,000Plastic injection molds=$100,000Cost of labor…
Q: Is the following true, false or uncertain? Consider a temporary positive inflation shock in a…
A: A fixed exchange rate is a regime applied by a government or central bank that ties the country's…
Q: 5.3 What is the slope (value) of Mrs. Bain budget line? 5.4 In theory, what is the slope (value) of…
A: An indifference curve is a graph that depicts the combination of two goods that provide equal…
Q: 16.)The demand curve for electrical output of a coal generating power plant is PD = 17000 – Qº. The…
A: (16) The supply curve of generating electricity represents the marginal cost of private MC = P =…
Q: A single-price monopoly A) must lower the price for all customers if it wants to increase its sales.…
A: A single price monopoly can charge only single price in the market to every one. Taking each option…
Q: List and explain the two defining characteristics of public goods.
A: Public good is the good which is available for all the members of the society. The two main…
Q: Is it easier for governments to change taxes or spending plans? Why? What doesthis imply for policy?
A: Fiscal policies are the measures used by the government to affect the economy. The major fiscal…
Q: 2. A seller's production function is q = f(k,1) = (kl), w = v = 1, and the competitive output price…
A: Given Production function: q=f(k,l)=kl0.2 ...... (1) w=v=1 Price is P We will find…
Q: pose that for every open-market operation in the amount of $1, money supply increases by $3, i.e.,…
A: Money supply includes all the currency in form of cash and coins , also balances in the bank…
Q: Discuss how you would conduct sales forecasting when working with government aganecy. Be sure to…
A: Sales: It refers to the goods and services that have been available to the public for purchase. The…
Q: An American manufacturing company has new equipment with a first cost of $ 25,000, an estimated…
A: Given:- First cost=$25,000 Salvage value=$1500 Recovery period=9 years To calculate:- Book value at…
Q: Vhich of the following is true about BRIC countries: O a. There is low prospects of growth O b. To…
A: BRIC countries are Brazil, Russia, India and China. These countries are emerging economies.
Q: QUESTION 1. Consider two countries: South Korea and New Zealand and two goods: Lamb and Air Pumps.…
A: Production means the goods and services produced in an economy. It means the raw material is…
Q: Part I. Use the table below as a basis for your responses. 1. Fill in the table below. 2. Based on…
A: It is a metric for determining how satisfied a person is with the goods they have purchased.In other…
Q: Assume the demand for labor for each firm is expressed as L = N (# of employees) x HBAR(average…
A: Employees = 30 Average working hours = 6 per day for 180 person-hours Minimum 150 person-hours per…
Q: Situs of Taxation is world/global taxation: A. Resident Citizen B. Resident Alien C.…
A: The tax on worldwide income obtained by a resident citizen must be paid. The jurisdiction in which…
Q: Refer to the following table to answer the next three questions. Checkable deposits Currency…
A: Answer: M1: M1 includes highly liquid assets. M1= Currency + Checkable deposits + Traveler's check…
Q: Costa Rica can produce either 18 oranges or 9 watermelons a day, while Panama can prodace either 16…
A: A country should produce the good in which it has a comparative advantage. Where comparative…
Q: Consider a duopoly with two identical firms with MC=1 and FC=0. The inverse demand is P=30-Q. Find…
A: Given: P=30-Q Q = Q1+Q2 P=30-Q1-Q2 MC=1
Q: d. M/s. Sanders and Sons purchased a machine on 1 Apr 2015 for $400,000 from ABČ & Co. and paid…
A: Depreciation refers to the fall in the value of assets when they are in use. The loss of assets when…
Q: The AD schedule becomes flatter if: fiscal policy is relaxed. interest rate…
A: Aggregate demand basically refers to the whole quantity of demand for all completed products and…
Q: One effect of the minimum wage is to reduce employment opportunities for minority teenagers. What…
A: Employment most by and large means the condition of having paid work — of being utilized. To utilize…
Q: Jagtar and Ravi both grow mangoes, which they sell in the same local market. They are deciding…
A: The Nash equilibrium is the ideal outcome for all the players involved in the game where neither…
Q: 1. Refer to the graph on page 2, assuming no budget constraint, which indifference curve represents…
A: An indifference curve basically refers to a graph that shows all of the product combinations that…
Q: An example of an expansionary fiscal policy is O a) eliminating certain deductions for taxes on…
A:
Q: Look again at the Solved Problem, in which we derived the saving and investment equation S =1+ NX In…
A: New saving investment relation would be derived from the IS relation : Y + TR - T = C + I + (G + TR…
Q: Company B has a P5M loan for a new security system it just bought. The annual payment is P444,000…
A: Loan amount P = 5,000,000 The company decide to pay the loan by paying 500,000 per year and the rate…
Q: he marginal cost of driving a mile is $0.33. (Round your response to two decimal places) an deciding…
A: The answer is as follows:-
Q: Suppose you like watching YouTube videos more than I do. The marginal va day must be higher than the…
A: Below is the curve for marginal value:
Q: Identify the statement as True, False, or Uncertain, and explain your reasoning: a) In a 2-bloc…
A: Since you have posted a multiple question, we will solve first question for you. If you want any…
Q: mpany Item Cost Initial cost $12,000,000 Service life 15 years Salvage value $2,000,000 |Crew costs…
A: We find the annual worth of the fixed costs excluding the costs which are annually incurred .…
Q: W 7 Ms. Bain maximizes 6. utility (given her budget constraint) at point X, skiing 2 days and…
A: Ms. Bain certainly would not give up more days of skiing for more days of biking now that she has…
Q: 1.) Consider the market for plastic grocery store bags. Suppose that demand for these bags is given…
A: in this question we have, demand equation=PD=24-QD=private marginal benefit and supply…
Q: What characteristic of public goods makes it very difficult for private firms to provide (or provide…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: 1. Use the following information from a fictional economy: Consumption, C = 250 + 0.8 Yd Investment,…
A: e part oy hand written
Q: The inverse demand for Harley Davidson motorcycles is given by: P= 40,000-10Q where P is the price…
A: Monopoly: - monopoly market structure is the structure in which there is only one seller of any good…
Q: When the economy of a country is operating close to its full capacity unemployment is close to zero.…
A: The correct option is cyclical unemployment is close to zero. Cyclical unemployment is a type of…
Q: Consider the market for wheat where demand is given by: Q° = 80 - 2p and supply is given by: Q° = 40…
A: Given:- Qd=80-2p Qs=40+4p Wheats supplied=56.66 To calculate:- Deadweight loss=? Please find the…
Q: u (21, a2) = 2xı +3x2 %3D If the price of good 1 is $4/unit, the price of good 2 is $5/unit, and…
A: Given, P1 = 4 and p2=5 and I=20
Q: 1. Use the following information from a fictional economy: Consumption, C = 250 + 0.8 Yd Investment,…
A: a and b part only))hand written plzzzzz...othereise skip
Q: Bastion owes Federico $100 for the concert ticket that Federico purchased for him. Federico owes…
A: A certificate of deposit is issued by a bank against the funds deposited at the bank. A promissory…
Q: Which of the following is the most accurate statement regarding the problem with using life…
A: Life expectancy is one of the economic measures that is used to analyze the health of the people of…
Q: Sco's real GDP was 14,461 billion pesos in 2016 and 14,702 billion pesos in 2017 ico's population…
A: Solution: The values provided in the question are; Mexico's real GDP in 2016 is 14,461 billion.…
Q: 3. Given a particular budget, if Mrs. Bain would like to maximize her utility from days of horseback…
A: Consumer equilibrium that implies highest level of satisfaction consumer can achieve is determined…
Q: he college tuition is expected to increase with an average of 5% per year for the next 5 years. The…
A: We have given a geometric gradient series cash flow, Value of A1=P45,000 % increase in the tuition…
Q: The utility function is given by =x17x25. For prices =3 and =6, what is the slope of the income…
A: Answer; =1.03
Q: Three natural barriers to entry are control of resources, patents and copyright law, and licensing.…
A: A monopoly is a market structure in which there is only single firm in the market that sells a…
Step by step
Solved in 2 steps
- Suppose you had a budget of $20.00 and the prices of a burger and a slice of pizza are $5.00 and $2.00respectively. What would be your optimal consumption bundle5) Marie-Antoinette has preferences for consumption of pots of tea (x) and slices of cake (y) that can be represented by the utility function U(x, y) = min (6x, 2y). How many slices of cake will she consume if a pot of tea costs $6, a slice of cake costs $4, and she has $54 of income (choose the closest answer)? a. 3 b. 1 c. 9 d. 6 e. 4 2A person has $25 to spend on apples, bananas, and cherries. Their respective prices are $2, $3, and $4 per lb. If the person buys x lbs of apples, y lbs of bananas, and z lbs of cherries, what is the budget constraint (assuming all money is spent)?
- Suppose Jane has $100$100 and is going to have a birthday party. She wants to order pizza and sushi. The price of a pizza is $6$6, and the price of one package of sushi is $8$8. Considering that she decided to spend $60$60 on pizza, how many pizzas and packages of sushi can Jane order? Enter your answer in the box below and round down to the nearest whole number if necessary; rounding your answer up may cause Jane to exceed her budget.2. Tom spends all his $100 weekly income on two goods, apples and bananas. His utility function is given by U (A, B) = AB, where A and B stand for the quantity of apples and bananas consumed by Tom. If PA = $4 and PB= $10, how many apples and bananas will he consume? Make sure you write out the utility maximization problem explicitly, including the decision variable(s). What if his utility function is given by U (A, B) = A0.5B 0.5?You are choosing between two goods, X and Y, and your marginal utility from each is as shown in the table below. If your income is $9 and the prices of X and Y are $2 and $1, respectively, what quantities of each will you purchase to maximize utility? What total utility will you realize? Assume that, other things remaining unchanged, the price of X falls to $1. What quantities of X and Y will you now purchase? Using the two prices and quantities for X, derive a demand schedule (price–quantity-demanded table) for X.
- You are choosing between two goods, X and Y, and your marginal utility from each is as shown in the following table. If your income is $9 and the prices of X and Y are $2 and $1, respectively, what quantities of each will you purchase to maximize utility? What total utility will you realize? Assume that, other things remaining unchanged, the price of X falls to $1. What quantities of X and Y will you now purchase? Using the two prices and quantities for X, derive a demand schedule (a table showing prices and quantities demanded) for X.Remy and Emile consume only cheese (x,) and strawberries (x2). Remy's preferences are described by UR = min{xf, 2x5}while Emile's preferences are described by UE = xf + x5 . Remy has 8 pieces of cheese and 1 pint of strawberries while Emile has 4 pieces of cheese and 3 pints of strawberries. (a) Draw an Edgeworth box with x, on the horizontal axis and x, on the vertical axis. Position Remy on the bottom left corner and Emile on the top right corner. Indicate the total number of units of x, and x2. Label the endowment allocation. Show Remy's and Emile's indifference curves. (b) Derive the equation of the contract curve. In your graph in (a), draw the contract curve. (c) Set x1 as the numeraire, i.e., assume p, = 1 and p2 = p. Find the competitive equilibrium. Hint: For Emile to consume at a Paretoefficient allocation, what should the prices be? (d) Redraw the Edgeworth box. Indicate the equilibrium allocation, e. Draw the equilibrium budget line.All goods have diminishing marginal utility, but for some goods (or activities), marginal utility falls quickly as you consume more, while for others, marginal utility falls slowly. Can you think of examples of goods that you continue to enjoy a great deal as your consumption increases? Can you think of goods for which your marginal utility decreases rapidly?
- Assume someone has a utility function of U = Min[3X, Y]. They currently have 8 units of X and 3 units of Y. The price of X is $12 and the price of Y is $3. If this person could sell some units of X and/or Y what level of utility could they achieve?A student has a monthly budget of $120 to spend on either burrito, which cost $6 each, or sodas, which cost $4 each.Draw the student's budget constraint. Put burritos on the x-axis and sodas on the y-axis. Which combinations of burritos and sodas are unaffordable--those to the left of the line in the graph or those above the line in the graph? Why? Which combinations would leave some budget unspent - those to the left of the line in the above graph or those to the right of the line in the above graph?The budget set, or budget constraint, in the graph shows the possible combinations of brownies and ice cream cones that can be purchased. Assume that this person has a total of $18 to spend on brownies and ice cream cones. How much does a brownie cost? $ Assume that at point A, the marginal utility from a brownie is 10 and the marginal utility for an ice cream cone is 18. This person should consume more brownies and fewer ice cream cones. is utility maximizing. should consume more ice cream cones and fewer brownies.