The government imposes a lump sum tax. What happens to the budget line? (Select all that apply). The slope becomes steeper. The slope becomes flatter. The horizontal intercept moves to the right. The horizontal intercept moves to the left. The vertical intercept moves to up. The vertical intercept moves down.
Q: Suppose have the following information concerning income and equilibrium quantitle automobile market...
A: The income elasticity of demand is the responsiveness of the amount demanded for a decent to an adju...
Q: Buying oil from Saudi Arabia accomplishes which of the following? decreases the aggregate demand O I...
A: Aggregate demand: AD = Consumption + Investment + government spending + export - import Note: Net ex...
Q: What is the economic problem? a. less profit Ob. liquidity Oc. Scarcity O d. unlimited resources
A: Economics aims to allocate the resources in such a manner so that the most efficient outcome is achi...
Q: 2. Two individuals have the same income ($100,000), but different potential heaithcare expenses. Per...
A:
Q: QUESTION 12 A price floor is: O a. the lowest price a producer will accept. O b. the lowest price a ...
A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost th...
Q: The good that receives the largest weight in the CPI is the good that a) has experienced the greate...
A: The consumer price index refers to the economic tool to analyze the change in price level over a per...
Q: -Calculate the cost of eliminating our wholesalers • Revenues are $230 million • We will have to pay...
A: Introduction Revenue = $230 million Cost of transportation = 5% of 230 = 5100 × 230 = $11.5 million...
Q: LR-ATC Q1 Q2 Q4 Output In the above figure, between Q3 and Q4 units, the firm experiences O a diseco...
A: economies of scale are the cost advantages that enterprises obtain due to their scale of operation, ...
Q: 5. Consider the following information: rus = 6%, rjp = 3% Eg 90 Yen per Dollar • Fo - 103 Yen per Do...
A: Exchange Rate refers to the quantity of a currency with which a unit of another currency can be chan...
Q: By using the notions of fixed and variable costs explain why theme parks close in winter months
A: Fixed and variable cost Fixed cost refers to cost that remains fixed at all level of output and does...
Q: If 2000 is deposited in a savings account at the beginning of each of 15 years and the account draws...
A: Given information, Annuity (A): 2000 Interest rate (i): 7% per year Time period (N): 15 years To f...
Q: Which of the following statements is TRUE? The marginal product and average product curves in...
A: The Marginal Product (MP) refers to the addition made to Total product at each level of output. The ...
Q: Imagine that you work at a theater, and there is a meeting concerning how to best increase the total...
A: Changes in the price of the product that leads to an increase in total revenue or decrease in total ...
Q: 5. The market demand curve for Krispy Kreme donuts is Q, = 30 – 2p. Calculate the elasticity of dema...
A: At price =$5, Quantity demanded=QD=30-2*5=20 units Price elasticity of demand is defined as ε=dQDdPP...
Q: Firms L and M are the only two providers of a homogenous output in a market with inverse demand give...
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...
Q: Analyse the action that government can take to assist the economy during a recession
A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...
Q: The market for cookies is represented by the following supply and demand conditions: QD =1,000 – 200...
A: According to the guidelines solution is provided to the first 3 sub-parts: 1) According to the infor...
Q: PW on total investment. AE on total investment. a. b. C. FW on total investment.
A: Given: MARR=25% Number of years=10
Q: f you have only $750 on January 1, 2019, what interest rate, compounded annually for 3 years, must y...
A: Given: The amount of initial investment is = $750 Years = 3 The maturity amount is = $1,000 To Find:...
Q: The relationship between inflation rate and growth rate of real GDP 50% 45% 40% 35% 30% 25% 20% 15% ...
A: Inflation: It is the overall rise in the level of prices in the economy. In other words, it can be d...
Q: Which of the following statements is false? 9) a. A profit maximizing firm still sets output such ...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: How can one compare GDP across 2 different countries if some goods and services are produced only in...
A: GDP is used as a measure of the economic welfare or standard of living of a nation. GDP measures the...
Q: QUESTION 38 Compared to a perfectly competitive firm with the same cost structure, a monopoly firm w...
A: In a perfectly competitive market, the firm is price takers and there are a large number of firms in...
Q: 4. Inflation and interest rates The following table shows the average nominal interest rates on six-...
A: Inflation is an expansion in the level of prices of the labor and products that families purchase. I...
Q: Is globalization a phenomenon trend? Justify your answer or a
A: Globalization is the method by which individuals and product move simply across borders. primarily, ...
Q: In the diagram below, a doubling of the price of X causes one to Y 100 20 40 45 50 100 increase the ...
A: When the price of x doubles, the budget constraint swivels around the x-axis. The Y coordinate howev...
Q: What is a Business? In your own words, explain what a business is?
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: Labor (workers per day) Total product (units per day) Marginal product Average pr...
A: Marginal Product is the additional change in the total product due to change in labor. MP=Change in ...
Q: The following figure represents the situation before and after trade openness of a domestic country ...
A: Given the PPC for the home country, we can see that the production takes place where the value of pr...
Q: 4. Assume that Canada and Kenya are trading partners. a. If the real interest rate in Canada decreas...
A: Answer(a) Financial account of Canada will be worsened or in deficits and the financial account of K...
Q: Calculate the missing information in the table Year Real GDP Nominal GDP GDP Deflator Price of...
A: The gross domestic product (GDP) is a standard measure of the value added created by the production ...
Q: Six hundred pesos is deposited each year into a savings account that pays 6 % compounded continuousl...
A: Amount invested each year = 600 Time = 8 years Interest rate = 6 % compounded continuously
Q: Pp3
A: A perfectly competitive market refers to the market in which there are many firms that sell the iden...
Q: Mobility of labour
A: To find : What is mobility of labour.
Q: 4. Зх — у %3D 2 x + 2y = 10 (4, 1) X = 2, у 4 5. Зх - 2у 3D 12 Intersection at one point only-exactl...
A: 3. When two lines coincide, there are infinite number of solutions as the lines touch at every poin...
Q: 5
A: Nash equilibrium More specifically, the Nash equilibrium is a game theory concept that states that ...
Q: Problem 2. A substantial portion of international trade happens between countries with similar char-...
A: The interchange of similar items from the same industry is referred to as intra-industry commerce. T...
Q: hich of the following statements are true? A basic assumption of the theory of production is that: ...
A: The process of the combination of various material and immaterial inputs into output for the purpose...
Q: QUESTION 11 The table presents some cross-price elasticities for various goods. Goods Cross-Price El...
A: Cross Price Elasticity : The cross price elasticity shows the change in the quantity demanded of one...
Q: In an economy income increases by 10,000 as a result of a rise in investmen expenditure by 1,000. Ca...
A:
Q: Were low interest rates the underlying cause of the financial crisis? In the previous unit, we disc...
A: The financial crisis of 2007-2008 had been building for years. By the summer of 2007, financial mark...
Q: 172 122 1. Complete the table above by calculating the marginal utility, the marginal utility per do...
A: total Utility is the aggregate amount of satisfaction that the consumer receives from consuming spec...
Q: (Suggested time - 12 mins] MPB Q Q, Q, Q 5 Use the labelled points in this graph to identify the req...
A: Given Diagram
Q: Ms.Mitchell, the CEO of CrunchOs, noticed her famous cereal brand has a demand and supply curve of p...
A: According to the question, Ms.Mitchell, the CEO of Crunch Os, noticed her famous cereal brand has a...
Q: • S = - 600 + 0.25Y, I= 400 -1100i • Ms = 1000, Mt = 0.15 Y, Mp = 0.10 Y dan Msp = 200 – 800i %3D • ...
A: Introduction The economy is in equilibrium so Ms = Mp 1000 = 0.10 Y So Y = 100010 × 100 Y = 10,000 N...
Q: Maria has decided to have a birthday party for 5 of her friends. She needs to buy sausages, bread an...
A: here we find the correct option by the following method as follow;
Q: Ceteris paribus, in a closed economy, if consumers become more pessimistic. O autonomous consumption...
A: In a closed economy, if the consumer becomes more pessimistic about the future, he will reduce the l...
Q: A credit union loaned out $50,000, part at an annual rate of 6% and the rest at an annual rate of 12...
A: Let y represent the loan amount loaned at interest rate 6% or 0.06 such that the remaining 50,000-y ...
Q: Discuss the difference between accuracy and precision.
A: The area of distribution, production, and trade along with consumption of various services and goods...
Q: Thomas has the following utility function over milkshakes (m) and smoothies (S): U (m,s) =m+ 3s Toda...
A:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Give the economic interpretation of a budget lineThis is Ben’s budget. Use his budget to determine the answer to the following questions: 1. Calculate Ben’s total amount of monthly expenses. 2. Calculate Ben’s total net income. 3. What would you recommend Ben do regarding his budget so that he is not in the red? 4. Scenario: Suppose Ben wants to buy a house for $251,599. Calculate his 20% down payment for this home. 5. Scenario: Suppose Ben wants to buy a house for $251,599. For a 15-year mortgage, Ben gets a 4% interest rate. Calculate his monthly payments for this 15-year mortgage. 6. Scenario: Suppose Ben wants to buy a house for $251,599. For a 30-year mortgage, Ben gets a 5% interest rate. Calculate his monthly payments for this 30-year mortgage.Question 20 When the budget line shifts from blue to red: Good X B (75X, ?Y) (?X, ?Y A (55X, ?Y) Budget Line income $s00, Pss, PSiS Budget Line income Sso0, Ps10, PS15 Good Y The slope of the budget line increases. The budget line gets steeper. The price of Good X rises. The price of Good Y rises. Monetary income increases. The relative price of Good X increases. The relative price of Good Y increases.
- C= 500 + 0,8Y, tax rate(t)= 0,25, G=1000 ve I= 1200. X= 500, M= 500 + 0,1Y. Calculate the budget balance at equilibrium level of Y.Help me pleasePresident Biden has proposed a $2.2 trillion Infrastructure package to repair roads and bridges. Some policy analysts think that at least one part of the funding will be an increase in the federal excise tax on gasoline. Suppose the size of this increase in excise tax is written as t. Using a graph analyze and explain the impact of this t dollars per gallon increase in excise tax on gasoline. Which of the curve(s), if any, would shift, and why? Graphically, show the new equilibrium price and quantity (labeling it P1 and Q1). At the new equilibrium, please determine how much of the tax increase was borne by gasoline consumers and how much was absorbed by gasoline sellers? Indicate the incidence of taxation for both consumers and sellers on the graph and explain. What will determine whether consumers or sellers will bear a higher relative burden of taxation? Please explain in detail.
- Question 9 If income decreases and prices are unchanged, the consumer’s budget constraint... Group of answer choices remains the same. shifts outward. shifts inward. rotates outward along the horizontal axis.If a good is considered to be a normal good it relationship with income. has aIf a consumer's income decreases, what will happen to the budget line? It will shift outward. It will become steeper. It will become flatter. It will shift inward.
- If all prices and income increase by 10%, then the budget line will: a. rotate around its axis. b. remain unchanged. c. be vertically parallel. d. move inward. e. move outward.On the diagram to the right is plotted a single bundle of 2 books and 3 DVDS consumed per month. This bundle is a point on the consumer's budget constraint. 10- 9- If the price of one book is $135.00 and one DVD is $90.00, then the consumer's level of monthly income is $ (round your answer to the neareast dollar). 8- 7- 2- 0- 9 10 Books (per month) 15 tv MacBook Air esc 80 DIL F1 F2 F4 F5 F6 F7 FB ! @ $ & * 1 2 3 4 7 8. 9 Q W E T Y tab ps lock A S F H J X C V M control option command DVDS (per month) N * *betsy graduates from college and her income increases by $40,000. nothing else changes. betsy decreases the quantity of T-shirts and potato chips that she buys and increases the quantity of hot caramel cider that she buys. for betsy,