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- You just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?An emerging country is defined as a country that becomes more engaged with global markets as it grows while it is transitioning from a low income, less developed, often pre-industrial economy towards a modern industrial economy with high production and higher standard of living. If this country's economic growth, results in more negative impact on environment, which of the followings best describes the contribution of income size of the economy on environment. Income effect dominates the size effect. O Size effect dominates Income effect. Both Income effect and size effect have the same effect. O The relation is not definable. None of the aboveAv 30 Economics
- QUESTION 1 Consider an OLG economy where each generation has 20 bananas when young, and O bananas when old. What is cy of each generation without money? QUESTION 2 Consider an OLG economy where each generation has 20 bananas when young, and 0 bananas when old. What is co of each generation without money? QUESTION 3 Consider an OLG economy where each generation has 20 bananas when young, and 0 bananas when old. What is the lifetime happiness of each generation without money?Save A production possibilities frontier (PPF) is ou O A. a curve that shows the potential productive capabilities of the frontier (defined as the area outside of cities) of a developing economy. O B. a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology. O C. a curve showing the generally attainable combinations of two products that may be produced with all planned or potential, yet undeveloped technology. O D. a curve that illustrates the demand of two goods for the average consumer.Identify the type of central economic problem that is related to problem of choice of what to produce in a country. O a. Full utilization of resources. O b. What goods and services ought to be produced and how much to produce? O c. How to attain economic growth? O d. How to distribute these goods and services?
- Each person is assign O Security Stability Which of these economic goals is most important in a market economy? O Equity O Efficiency Job an 5 Which of these economic goals is most important in a command economy? = age REMLER DE RUQUESTION 20 Which af the fallawing is not an illustration of the notion of opportunity cost O A. The production of more military goods means fewer resources are available for civilian goods. O B. The land a Kansas farmer plants in wheat is not available for corn production. OCIFI buy a pizza, I will not be able to afford a mavie. O D.A growing economy can produce more consumer goods and mare capital goods at the same time. QUESTION 21 The diagram below shows the market for apples. Which of the following events might have caused the shift in the supply curve from S to S2 Pee OA. A sludy showing new health benelits af apples is published in the Washington Past O B. Orchad productivty increases due to a new fertiliser OC Orchard productivity decdines due to draught O D. None af the above QUESTION 22 When we study economics the objective is to learn: O A. how to allocate unlimited resources to satisly unlimited wants O B. how to allocate unlimited resources to satisfy limited uses O C. how…Which of the following can best be characterized as a subject of macroeconomics? an examination of inflation O an examination of consumer behavior an examination of where goods come from O an examination of how much of a particular good gets produced
- Overall, would it be more profitable for a business to follow the economic model or the socioeconomic model of social responsibility. Should therre be less?3.Answer the questions below.a.Explain what “brain drain” isand what are the reasonsfor it.b.Explain what “brain gain” is, by evaluating it in terms of economic development.As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?
