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Suppose GDP in this country is $1,330 million. Enter the amount for consumption. National Income Account Value (Millions of dollars) Government Purchases 350
Taxes minus Transfer Payments ( ) 455
Consumption ( )
Investment ( ) 280
Assume which the market for avocados is perfectly competitive. The typical agribusiness firm is earning positive economic profit in the short-run equilibrium.
Economists discuss that there is an efficient amount of pollution abatement. Why is the efficient amount of abatement unlikely to be either zero or 100 percent?
The proportion of real GDP that must be forgone in order to reduce the inflation rate by one percentage point is called:
Draw the pre-intervention optimized supply and demand equilibrium. Explain and show what effect it has on the polis.
Milk is a commodity is it a necessity or a luxury product. Evalute the availability of its substitutes for the product. Explain how the necessity of a good and the availability of substitutes impact the elsticity of the product.
How can the high unemployment hurt the growth of the GDP. Is the U.S. economy primarily driven by consumers or businesses? Why? Let's look at the "crowding out effect". Please explain and define the crowding out effect,
According to the rule of most favorable input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the corporation.
Selling price to Yumminess at $10 per tin. The cost is $8 per tin, which includes $6 of direct material and $1.50 of direct labor. Annual manufacturing overhead is estimated at $100,000 for the expected sales of 200,000 tins. Operating expenses are p..
The total utility for water is higher than the total utility for diamonds. You can explain the diamond-water paradox (that diamonds are expensive but not necessary for survival / not as useful, while water is inexpensive yet necessary for survival / ..
If there is an autonomous increase in spending (a rightward shift in the aggregate demand curve) and the Fed wishes to hold real income constant, then the Fed would:
How do you feel about the high decrease in private investment? Even if the government spends more to stimulate the economy, if the margin of disposable income is not there the ability to invest, especially for small businesses, declines.
Let market demand be given by the inverse demand function P = 300-2Q, where Q = q1 +q2 +...+qn. The cost function for each firm in the industry is c(qi) = F +20qi+q 2 i . Firms are Cournot competitors. Find each firm’s equilibrium output and profit ..
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