How has globalization impacted the American economy? (Check all that apply)   the secondary sector has been weakened by downsizing, technology, outsourcing and imports   the primary sector has been weakened   most existing and new jobs are in the service sector

Q: Economic activity that is above potential output signals that potential output is about to increase…

A: “Potential output is defined as the maximum amount  of goods and services an economy can produce or…

Q: For Elizabeth, one of the most exciting aspects of landing a full-time job was being able to buy a…

A: The average total cost is calculated by dividing the total cost of production by the total output.…

Q: A firm makes beer and its cost function is C(q) = 4+q². Are there economies of scale?

A: Economies of scale refers to the situation when average cost decreases with increase in production

Q: A consumer of two goods has indirect utility v(p, w) = -1/2 +P₂ (a) Find the indirect money-metric…

A: Indirect utility function means a combination of the function of prices of goods and income of…

Q: Profitability Index A project has an initial cost of $40,000, expected net cash inflows of $12,000…

A: Hence the answer

Q: Consider the following supply and demand curves: Demand: Price = 50-3.5*Qd Supply: Price = 20+.5*Qs…

A: To find the subsidy bill we firstly need to find the final equilibrium quantity after the subsidy is…

Q: 1. Consider the following version of the Prisoners' Dilemma. Player 2 Player 1 M F M (−1,−1) (0, -9)…

A: John von Neumann and Oskar Morgenstern established the idea of a mixed-strategy equilibrium, but…

Q: Derive the formula to estimate the volatility parameter (used in the Black-Scholes formula) using…

A: The formula to estimate the volatility parameter is as follows: Volatility Parameter = Square Root…

Q: True or False: In the case of a discount bond, the bond's return matches the rate of capital gain

A: All the instruments employed in various markets for speculation or other similar reasons are covered…

Q: My neighbor, the Wang family, plants peach trees on their property. I benefit from the Wang family's…

A: This is the case of externalities where one consumer is getting benefits without having paid for it.…

Q: Learnin The majority of fresh fruit consumed in the United States is now imported, much of it coming…

A: Given the world price line is at P=$4  The US imports fruits from Mexico, Chile, Guatemala, and…

Q: Describe any five important differences between labour market and the goods market

A: We know that In an economy, there occur various activities. Activities are related to production,…

Q: 1. Below is the price and quantity information a firm. For example, at a price of $2.80, 60 units…

A: A demand curve refers to a graphical depiction of the connection between the price of a product and…

Q: The demand for lamps is P= 100-3QD The supply of lamps is P = 75 +4Qg- What is the equilibrium price…

A: The price and amount at which market supply and demand for a good are equal is known as the market…

Q: Which is a better approach to management in a free market economy?

A: Supply and demand are the foundation of the free market, which has little to no governmental…

Q: A consumer of two goods has indirect utility v(p, w) = 1/2 + P₂ (a) Find the indirect money-metric…

A: In the study of economics, the term utility can be defined as the total satisfaction or benefit that…

Q: In a complex assembly operation, it is found that the learning curve rate is 85%. The standard time…

A: According to the given question, we have the learning curve rate is 85% or 0.85 . And it is given…

Q: If the cost-of-living index is 270 in Miami, the real value of a $59,400 per year job offer in Mian…

A: # Cost of living index in Miami = 270  # Cost of living index in San Diago = 300 # Formula for real…

Q: It would be efficient and possible for this economy to produce? dryers A) 60 dryers and 50 washers.…

A: The given curve in the graph is production possibilities frontier that shows different combinations…

Q: Which of the following is NOT a characteristic of an oligopoly? low barriers to entry the firms are…

A: Oligopoly is a market structure whereby there are few number of firms operating in the market. The…

Q: The demand and supply schedules in this table list the quantity supplied and quantity demanded of…

A: Demand refers to the quantity that a consumer wishes to buy at a given price in a given period of…

Q: Eliza is a seven year old who loves chocolate and is neutral about any other food (ie. she gains no…

A: # Eliza is neutral about any other good and she loves chocolate.  # P(chocolate) = $1 , M (income) =…

Q: 1. Consider a wine dealer who has k bottles of wine. The dealer can sell them now (t = 0) or can…

A: This question asks us to calculate the sales revenue for selling k bottles of wine. We are given the…

Q: In the derivation of AVC, to find its minimum, you need

A: The average variable cost (abbreviated to be AVC) refers to total variable cost per unit of output.…

Q: Consider a market for rides (as in the market that Uber operates). Demand for rides is given by…

A: The supply and demand for rides is given as: Demand: QD=120-2P Supply: QS=10P The equilibrium price…

Q: The following graph shows the market for croissants in Philadelphia, where there are over 1,000…

A: Given:

Q: A consumer of two goods has indirect utility v(p,w) = 1/2 -1/2 √w + P₂ P₁ (a) Find the indirect…

A: Money Metric utility Both income and expenditure metrics will be the center of the research on…

Q: A consumer of two goods has indirect utility v(p,w) = (a) Find the indirect money-metric utility…

A: The answer to the above question is as follows:

Q: The Federal Funds Rate is the rate charged on U.S. Treasury bonds by the Federal Reserve the rate…

A: A bank is a type of financial institution that is permitted to accept deposits and provide loans.…

Q: Adjust the following graph by shifting either the curve or the point on the curve to illustrate a…

A: The Aggregate Demand is key determinant of Income level in the economy. Change in AD causes change…

Q: Which of the following is the proper formula for GDP once you adjust it so it explicitly shows the…

A: GDP The market value of all financial goods and services produced in a domestic territory over a…

Q: Indicate whether the following change would cause a shift in the demand curve for product A and, if…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: A consumer of two goods has indirect utility v(p, w) = -1/2 P₁ + P₂ (a) Find the indirect…

A: In the study of economics, the term utility can be defined as the total satisfaction or benefit that…

Q: ENGINEERING ECONOMICS DISCOUNT A hardware store purchased a tool of 20,000 pesos per unit. At what…

A: Here, given information is: Cost of the tool: 20,000 pesos Discount provided on sales price: 15%…

Q: The price of peanut butter, a complement to jelly, decreases. How will this affect the equi price…

A: Demand shows inverse relationship between price and quantity demanded. It slopes downward. Supply…

Q: Examples of deflators are the and deflator personal consumption expenditure; gross domestic product…

A: Deflator is a value that is used to measure inflation through changes in current prices or wages…

Q: National income accounting (GDP calculate) is an essential part of macroeconomics. Analyse the…

A: G = 400 I = 70 X = 300 M = 100 Autonomous Consumption(C0)= 100 MPC(b) = 0.6 TAX(T)= 50

Q: The federal government (1) encouraged the development of the savings and loanindustry, (2) virtually…

A: The federal government has power of delegating the power to the elected members of the states.  i).…

Q: is cheap and requires fewer workers to run. Demonstrate the effect this equipment has on the and for…

A: Equilibrium in the labour market is where demand for labour and supply of labour are equal.  This…

Q: What does the Cobb-Douglas production function assume about the input shares in the economy? the…

A: A particular kind of production function is the Cobb-Douglas production function.It computes the…

Q: 14. Mr. Reyes borrows P600.000 at 12% compounded annually. agreeing to repay the loan in 15 equal…

A: Given,  Amount Borrowed (P) = P600,000 Rate of Interest (i) = 12%, compounded annually Number of…

Q: The minimum wage in Arizona is $10.50. This is higher than the federal minimum wage of $7.25. Which…

A: Macroeconomics refers to the branch of economics that deals with the economy as a whole. For…

Q: c. Describe the relationship between the size of the employment rent and (i) the expected duration…

A: The labour supply is the total number of hours that people are able and willing to work for a…

Q: Let's say that you invest $8000 at 3.1 percent annual interest for 6 years. What will its value be?…

A: Given that, Principal (P) = $8000 Rate (R) = 3.1% = 0.031 = r Time (t) 3years

Q: A monopoly firm has estimated the own price elasticity of their market to be Q,P= -14.5 at the…

A: A monopoly is a type of market structure where a single seller exists in the market with no close…

Q: Three professional siblings decided to save money so they can buy a house and lot for their parents…

A: Present worth is the discounted value of money at a given interest rate during a given time period.…

Q: C. Dan likes to consume x and y in "fixed proportions": twice as much of x as of y. That is, his…

A: Consumer consumes x & y in the fixed proportion. He consumes twice as much of x as of y

Q: Consider the market for mobile applications, smartphones, and conventional phones. For each pair,…

A: When the two goods are complements, increase in price of one will decrease the demand for other…

Q: 53) Which of the following statements about the ripple effects of monetary policy is FALSE? Monetary…

A: Monetary policy is a bunch of activities to control a country's general cash supply and accomplish…

Q: 4. For each of the two-variable-factor production functions listed below, deduce the sign and…

A: TPP is actually Total Physical Product. Now TPP is actually showing the combination of total…