10. The free-rider dilemma refers to a situation in which an individual can consume a good or service without having to pay for it. True/False? 15. The Great Depression Multiple Choice was the most severe recession since the Civil War, even though it lasted only 18 months. was a severe and prolonged reduction in output and employment for the United States during the 1930s. was a severe and prolonged reduction in output and employment for the United States during the 1980s just prior to the long economic expansion of the 1990s. is another name for the economic downturn that followed World War II. 22. Public goods Multiple Choice include most goods and services that the market produces. lead to the pay-as-you-go problem. by definition, must be produced by the government. can be consumed by more than one person at the same time. 24. Which of the following individuals is frictionally unemployed? Multiple Choice Jennifer has not been able to find a job because she lacks computer skills. Jose has decided to stop looking for work in order to return to school. James quit his teaching job in Virginia in order to relocate to Hawaii. Jai Lynn lost her job because her employer had to reduce staff during the recession.
True Or False: Gross Domestic Product (GDP) Cannot Be Used To Measure The Economy’s Income. True False
Transcribed Image Text from this QuestionThe following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Goods and Services Firms Households Markets for Factors of Production Activate Windows Go to Settings to activat Based on this model, firms earn revenue when purchase in markets for goods and services. firms Suppose Ginny earns $600 per week working a Pr A-Plus Accountants. She uses $8 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Eric $225 per week to work the households Eric uses $200 to purchase tax services from A-Plus Accountants. Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Event Market for Factors of Production Market for Goods and Services Eric spends $200 to purchase tax services from A-Plus Accountants. Eric earns $225 per week working for Pillmart Pharmacy. O Ginny spends $8 to buy a box of aspirin. O Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $225 per week Eric earns working for Pillmart Pharmacy The $200 Eric spends to purchase tax services from A-Plus Accountants Activate Wind Go to Settings to The aspirin Ginny receives Based on this model, firms earn revenue when purchase in markets for goods and services. Suppose Ginny earns $600 per week working as an analyst for A-Plus Accoy goods and services to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Eric $225 per week to work the cash register. Eric uses $20 labor and capital rices from A-Plus Accountants.
3 Price Elasticity Of Demand Is Generally: Of Select One: A. Greater In The
Transcribed Image Text from this Question3 Price elasticity of demand is generally: of Select one: a. greater in the short run than in the long run. b. the same in both the short run and the long run. c. greater in the long run than in the short run. O d. greater for “necessities” than it is for “luxuries.” -4 Which of the following statements is true about the advantages gained through the division of labour? of Select one: a. It was first thought of by David Ricardo in his example of a hat factory. b. It is an idea that has little application in the real world. c. It causes the marginal product of labour to increase, but it has no effect on the average product of labour d. Its application results in both the marginal and average product of labour increasing. 35 stan starte Both the total aducand marginal productiehen diminishing
Please I Need Answer For This Question Just Nu It Is Very Important And
Please I need answer for This question just nu it is very important and I need solution for this issue with all the details just nu 1. This question will ask you to analyse economic effects of the Corona virus by applying the Ricardian model. Assume that there are two production goods: tomatoes and paper. In Sweden, it takes 10 hours to produce a kilo of paper, and 3 hours to produce a kilo of tomatoes. Under free trade before the Corona virus occurred, the world relative price of paper in terms of tomatoes was 10. a) Under free trade, what good or goods does Sweden produce? What does it export? Explain your answer. b) Under free trade, draw the production possibility frontier (PPF) and consumption possibility frontier (CPF). Explain your answer. c) Under free trade, show how much of each good a worker can consume. Explain your answer. d) Now, assume that the effect of the Corona virus is that Sweden can no longer trade with the rest of the world. What is the consumption possibility frontier (CPF) of Sweden in this case? Explain your answer. e) Under autarky, how much of each good can a worker consume? Explain your answer.
An Economy Has A Population Of 2 Million, The Current Capital Stock Of $6
Economics Assignment Writing ServiceAn economy has a population of 2 million, the current capital stock of $6 billion, and a current GDP of $3 billion. The savings rate is a constant 8% and depreciation rate is 3%. The population growth rate is 0. Its production function is given by Yt=AtKt, where Yt denotes GDP, Kt denotes capital stock and At denotes productivity of capital in year t. Capital productivity will remain at its current level until the economy achieves a per capita income of $2000. Between per capita income of $2000 and $3000, capital productivity will be at a constant level, which will be 10% lower than what it is currently, owing to some natural resource (energy) constraints. Between per capita income of $3000 and $4000, capital productivity will also be at a constant level, which will be 10% lower what it would be between per capita income of $2000 and $3000. And so on: for every successive range of per capita income of a thousand dollars, capital productivity will be (constant at a level which is) 10% lower what it was for the previous range. Hybrid Harrod-Domar-Solow Model 1. Calculate the current and future growth rates of per capita income. how will they differ? 2. What will the growth rate and level of per capita income be in the long-run? Please show work so I can study it!
A hospital combines surgeons and operating rooms to treat
A hospital combines surgeons and operating rooms to treat patients. The figure displays the combinations of hospital rooms and surgeons required to treat 400 patients. If surgeons cost $300, operating rooms cost $120 per day. At the cost minimizing output quantity, what is the marginal productivity of surgeons relative to operating rooms? To review this concept, see the section Cost Minimization in the Short-run.2.5
A monopolist has a cost function given by c(y)=y2 and faces a demand
Question A monopolist has a cost function given by c(y)=y2 and faces a demand curve given by P(y) = 120−y. (a) What is its profit-maximizing level of output and price? (b) If you put a lump sum tax of $100 on this monopolist, what would its output be? If you wanted to choose a price ceiling for this monopolist so as to maximize consumer plus producer surplus, what price ceiling should you choose? (d) How much output will the monopolist produce at this price ceiling?
– 11 Consider The Income Elasticity Of Demand For Sport-utility Vehicles (SUVs). An Increase
Transcribed Image Text from this Question- 11 Consider the income elasticity of demand for sport-utility vehicles (SUVs). An increase in income will ed d out of ag tion Select one: O a. always increase the demand for SUVs. o b. increase the demand for SUVs if SUVs are inferior goods. c. increase the supply of SUVs. d. increase the demand for SUVs if SUVs are normal goods, e decrease the demand for SUVs if SUVs have a very low price.
Ny Pork Ribs Sales Rise As Food Costs Soar Sales Of Pork Ribs Are
Transcribed Image Text from this Questionny Pork ribs Sales Rise as Food Costs Soar Sales of Pork ribs are rising as consumers realize that Pork ribs and other lower-cost foods can be substituted for costlier cuts of meat as a way of controlling their already stretched food budgets a. Are Pork ribs a normal good or an inferior good? Explain The demand schedule for hotel rooms is in the table. Price Kdollars per night) Quantity demanded (millions of rooms per night) 200 100 250 80 400 50 500 .40 800 25 b. Is the demand for hotel room’s elastic, inelastic or unit elastic? My To Love, Honor, and Save Money In a survey of caterers and event planners, nearly half of them said that they were seeing declines in wedding spending in response to the economic slowdown, 12% even reported wedding cancellations because of financial concerns a. Are wedding events more a necessity or a luxury? Would the income elasticity of demand be greater than 1, less than 1, or equal to 1? o STY lyWUST The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime Assuming these statements to be correct, c. What is the most effective way of decreasing the quantity of illegal drugs bought and decreasing the amount of drug-related crime?
In “Body Ritual Among The Nacirema,” Harold Miner Describes American Culture From An Anthropologist’s
Transcribed Image Text from this QuestionIn “Body Ritual among the Nacirema,” Harold Miner describes American culture from an anthropologist’s perspective. Think of an everyday ritual of your own and describe it from the perspective of an anthropologist from an outside culture. Then choose two of your classmates’ posts to analyze. What ritual do you think they are describing? What does the ritual show about their cultural values?
Question 7 1 Pts The Scale Of The Variables In A Regression Should Be
Transcribed Image Text from this QuestionQuestion 7 1 pts The scale of the variables in a regression should be chosen: To ensure that the regression coefficients always lie between – 1 and 1. To ensure that the regression coefficients are normally distributed with a standard error of one. To make the regression results easy to read and to interpret. However you like since scale does not affect the estimated coefficients.
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