Which one among these words describe the origin of Macroeconomics? a. English word makros which means large b. Greek word makros which means small c. Greek word makros which means large d. French word makros which means large

Which one among these words describe the origin of Macroeconomics? a. English word makros which means large b. Greek word makros which means small c. Greek word makros which means large d. French word makros which means large

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 5PA

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. What is the difference between micro and macro economics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one. 2. Go to the internet and find a recent article that you find that is relevant for this section. Provide the link, and a summary of the article and discuss, in a few words, why you found the article interesting 3. Provide an example of a sunk cost. How does this differ from a marginal cost? Explain a time you did (or should have) used marginal analysis to solve a problem.
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3. What are the 2 variables that the Production Function is analyzing/graphing? Why does the production function diminish over time?
E-LEARNING SYSTEM (ACADEMIC) rinciples of Macroeconomics estion If the MPS is 0.20, the MPC is Select one: et ered a. 1.20. ed out of O b. -0.20. О с. 0.40. ag O d. 0.80. ion
Short Answer 12) Using the following table, which of the production choices (a, b, c, d, e) are technologically efficient? If the price of capital is the same as the price of labor, which choice is economically efficient? Finally, explain the relationship between technological efficiency, economic efficiency, isoquants, and isocost lines. Feel free to use a graph to help show what you are explaining if you'd like, but make sure to clearly label everything on your graph so I can see what you are describing in the graph. Production Technique Output 100 Capital Labor 15 B 100 6. 16 C 100 12 9. 100 12 4
1.Explain how a firm uses resources price and value data to determine the appropriate combination of capital and labor resources to use in order to maximize profits. 2.how does this change when the firm want to produce a specific quantity of product with the least cost combination of resources? 3. if a software firm estimates that the MP of labor is 3 apps per month and the price is labor is $1100 per month, while the MP of capital is 5apps per month and its price is $2000, should the firm hire more labor and decrease its capital use or increase its use of capital and use fewer labor resources?
please work out do not understand
4. Explain the idea of the macroeconomic production function to someone who knows no economics. The production function we have discussed relates output per capita to technology, labor (and population growth rate), capital, and hu- man capital. We should properly think of all of these variables as endogenous variables. Think about policies that would affect these. Articulate three policy recommendations for each. Be careful about the distinction between labor and population. Do you think policies that would maximize investment would also maximize welfare? 5. Using the Solow model, explain the effects of the following events on steady state income per capita level and income per capita growth rate of country Adanus using proper terminology: (a) Aliens attack Adanus and destroy all existing factories. Thankfully, the citizens were not affected by the attacks. (b) Adanus receives a large influx of migrants from Mersinis. Population in- creases overnight. The migrants have the same…
macroeconomics.. help please.
Provide a real world example that you think is a macroeconomics analysis. Also explain what ma it is a macroeconomics analysis vs. a microeconomics analysis
11. What are the two topics Macroeconomics is mainly concerned? (See the intro. to ch.6) Macroeconomics is concerned with 1)long-run ( 2) short-run ( ) and ). How are the two topics related to each other? These phenomena are closely related to each other because they happen simultaneously. We tend to observe, however, positive growth trends in the (short. long ) run, but a great deal of variability in the ( short. long ) run.
2. The determinants of productivity Suppose there is a simple hypothetical economy in which the only industry is cloud computing. In the cloud computing field, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of lines of code one programmer authors per hour. In the following table, select the appropriate productivity determinant that represents each example. Examples The additional education workers receive from new computer science course offerings A new data security process that makes the industry's network more secure The rare earth metals that serve as inputs to production of computers The server hardware on which data is stored Human Capital per Worker Natural Resources per Worker Physical Capital per Worker O Technological Knowledge O O