Which of the following is the best statistic to measure what is happening to living standards over the long run? Question 1 options: Unemployment rate Inflation rate Real GDP per capita Labour force participation rate
Q: 2. Company A, the polluter, is located upwind of Company B, the victim, in a certain airshed. A's…
A: Environmental economics is relevant right now because it addresses the commercial implications of…
Q: Which of the following factors reduce a cartel's ability to cooperate? • All of the other factors…
A: A cartel is an organization or group of businesses or entities that meet up to manipulate and…
Q: A monopolist sells output for $4.00 per unit at the current level of production. At this level of…
A: Here,Average revenue (Price) = $4.00Marginal cost (MC) = $3.00Average variable cost (AVC) =…
Q: Could you please provide a summary of the factors influencing the business environment and the…
A: The operations, strategies and growth of organizations are all impacted by a wide range of internal…
Q: age the product at a price equal to the maximum price the buyer of that unit of the product would be…
A: A price-discriminating monopolist is a single seller that charges different prices for the same…
Q: Which of the following is the largest number of jobs that could theoretically be within the software…
A: ***Since the student has posted multiple questions, hence, the expert is required to solve only the…
Q: This problem examines the implications of allowing investment to depend on output. Suppose the…
A: At the equilibrium, the equilibrium output equals aggregate demand. Thus equilibrium output can be…
Q: a. In the long-run in a decreasing-cost competitive industry, HD EDU's long-run supply curve is…
A: In a competitive constant-cost industry, each firm's long-run supply curve is its marginal cost (MC)…
Q: A construction manager just starting in private practice needs a van to carry crew and equipment.…
A: The manager can lease a used van for $3,777 per year. and this lease amount is paid at the beginning…
Q: 3. Briefly explain whether production of each of the following goods is likely to fluctuate more or…
A: During the business cycle, the production of goods can be influenced by changes in economic…
Q: Respond to the question with a concise and accurate answer, along with a clear explanation and…
A: Returns to Scale: Returns to Scale refers to the proportional change in output that occurs in…
Q: Discuss cost-plus pricing model in a market economy
A: Cost-plus pricing is a pricing strategy used by businesses in a market economic system to decide the…
Q: Write an assessment report on how the COVID-19 pandemic has affected the South African economy and…
A: Evaluation report: impact of the COVID-19 Pandemic at the South African economy and GDP1.…
Q: Q4.Suppose we are given the constant returns to scale (CES) production function q={ßa+aa }1/a a.…
A: The production function determines all the input bundles that produce the same output level.The…
Q: Use the figure below to answer the following questions. Price and cost (dollars per unit) MC Ps PA…
A: A Monopolistic competition is the market structure where exists a large number of buyers and sellers…
Q: Consider the following consta 2 9 5 2 6 4 4 8 Assume that the value of x is known to both players.…
A: Game Theory:This question constitutes of the Games Theory.Game Theory, which is a branch of…
Q: Hospital has the following treatment options to reduce the incidence of Ventilator-Associated…
A: Economic investigations in the medical field include the distribution of resources and utilization…
Q: Most US banks are privately owned, profit-making organizations. Although they provide a service just…
A: Central bank refers to an institution that uses the monetary policy to maintain the stability in the…
Q: OLVE STEP BY STEP Carp, Inc. wants to evaluate two machines for packaging their products. Machine A:…
A: The cash flow schedule of the two machines is given below:Machine AMachine BInitial…
Q: Assume that an employer can use a combination of causal and permanent labor on the production of…
A: Q=LcLpWc=5Wp=10Production is constrained to 500 pounds.
Q: How do sales taxes typically apply in a business environment?
A: Sales tax is a consumption tax imposed by the government on the sale of goods and services. It is…
Q: In the figure below, what is the error term for the observation indicated by the arrow (use absolute…
A: The error term is known as residual, It is calculated by subtracting the predicted value from the…
Q: Consumers demand different features from cough medications taken for daytime use versus nighttime…
A: Consumer demand is a fundamental economic concept that pertains to the quantity of a product or…
Q: Sophia grows Christmas trees. Her cost of production is shown in the table below. Christmas Trees 1…
A: Sophia grows and sales Christmas trees. The following table is the number of Christmas tree grown…
Q: Now suppose agent C can produce private information about the true realization x at t=1 at the cost…
A: The expected value outcome is the probability that signifies the possibility of the occurrence of…
Q: An investor has a von Neumann-Morgenstern utility function, u(c)=-e^(-αc), where c represents…
A: In economics, uncertainties are unforeseeable components that could affect socioeconomic…
Q: Derive the cost function curve for a hypothetical physician practice. How does one optimise the cost…
A: For economic effectiveness and sustained growth, health care practices must optimize their labor and…
Q: 1. If an industry has one company operating as a monopoly, most likely the industry has profits that…
A: A monopoly market is a type of market structure characterized by a single seller or producer…
Q: (a) Using the appropriate graphs, consider the short run impact of a natural disaster that causes a…
A: An intertemporal model is an economic or financial model that takes into account decisions made over…
Q: Give typing answer with explanation and conclusion When a company only pays workers .50 an hour…
A: According to Martin Wolf's theory, a company paying workers only $0.50 an hour could potentially be…
Q: A regional municipality is studying a water supply plan for its tri-city and surrounding area to the…
A: In the face of increasing water demand in a tri-city and its surrounding area, a regional…
Q: Question 2 of 25 In which situation is a country most likely to choose a flexible exchange rate for…
A: A flexible exchange rate, also known as a floating exchange rate, is a type of exchange rate regime…
Q: Refer to the graph showing the supply of books. A shift from SO to S1 would most likely occur for…
A: In the graph, the initial supply curve is S0 and the supply curve shifts to S1. The supply curve…
Q: TR is total revenue. MR is marginal revenue, MP is marginal product and MRP is marginal revenue…
A: Marginal product measures the change in quantity produced due to a change in the amount of labor…
Q: Debate the relative merits of fixed and floating exchange rate regimes. From the perspective of an…
A: Fixed exchange rate regime is the system in which the rate of exchange for a currency is fixed by…
Q: Consider a medieval Italian merchant who is a risk averse expected utility maximiser. Their wealth…
A: Income level=YChances of ship sink=50%Chances of the ship, not sink=50%Loss=L
Q: The marginal private cost of fertilizer production is MPC = 40 + Q, where Q is the amount of…
A: Marginal private cost : MPC = 40 + QMarginal benefit : MB = 340 – 4QMarginal external cost : MEC =…
Q: The Nash equilibrium in stage 1 for firm 1 is _____and for firm 2 is that firm is the leader and…
A: A simultaneous game is a type of strategic interaction in game theory where all players make their…
Q: CH9: Sustainable development can be defined as the ability of the economy the resource needs of…
A: Sustainable development is indeed defined as the ability of the economy to meet the resource needs…
Q: Economics memo about dizitalization in the world
A: A memo , a is basically the short form of memorandum. Memo is a written document, which is…
Q: An oil company is planning to install a new 80 mm pipeline to connect storage tanks to a processing…
A: Given:Initial cost: RM15,000annual pump operation hours: 450 hourspump cost per hours: RM2.50annual…
Q: Consumption function: C = 60+ 0.75Y * Investment: 1 = 90 • Government spending: G = 52 • Net taxes:…
A: Aggregate demand refers to the total demand for commodities and services made by all the economic…
Q: 1. Define social surplus and deadweight loss. Provide examples and explain your answer.
A: Social surplus, or total surplus, represents the net benefit that society derives from the…
Q: Question 2. Suppose there are two consumers, A and B, and two goods, X and Y. The consumers have the…
A: For consumer AUA=min(2X,Y)XA=5YA=2For consumer BUB=3X+YXB=3YB=6Px=2Py=1
Q: Pure monopolies are said to be allocatively inefficient because price is equal to marginal cost.…
A: In a pure monopoly, the firm has complete control over the market supply of a product or service.…
Q: How much will Kingston Technologies have to pay each year in 8 equal payments, starting 2 years from…
A: we need to use the formula for the present value of an annuity, which is a series of equal payments…
Q: The French autoroute network is composed of toll motorways with entrances marked as such. A motorist…
A: The French autoroute network refers to the extensive system of highways, commonly known as…
Q: The following table contains demand and cost data for a monopolist. Complete the table by filling in…
A: TR (Total Revenue) is the total amount of money received by the firm from selling a given quantity…
Q: Hello. Could you also please include the graph how is it changed?
A: Macroeconomic equilibrium refers to the condition of an economy where the quantity of goods and…
Q: If the GDP increases what is expected to happen. to the interest rate? Please answer uniquely in 500…
A: GDP is an important economic factor that measures the development of economic productivity,…
Which of the following is the best statistic to measure what is happening to living standards over the long run?
Question 1 options:
|
|
|
|
|
Inflation rate |
|
|
Real |
|
|
Labour force participation rate |
Step by step
Solved in 3 steps
- The table below gives the country's GDP, population size, and price level over a two-year period. 2018 2019 Nominal GDP 8449 18374 Population 240 294 Price index 100 97.55 Given the information above, calculate the following: (f) The Real GDP in 2019 188.35 188.35 (g) Nominal GDP per capita growth rate between 2018 and 2019 117.4 117.4 (h) Real GDP per capita growth rate between 2018 and 2019 0.8198 0010oA small city has the following characteristics: Population (15+): 440000 Labour Force Participation Rate: 69% Unemployment Rate: 7% How many people are unemployed in this city? (Nearest whole number.)Which of the following is not a micro-economic variable?[A] Demand of a commodity[B] Supply of a commodity[C] Price rise of a commodity[D] Employment generated in a year in a country
- (b) Using the following data calculate:(i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate. 987,156 Currently Working 23,000 volunteer workers9845 (ages 13-14) looking for work 12,000 (ages 15) looking forwork45,600 Part-Time workers 56 family workers who worked15 hrs a week234 Self-Employed 6543 Discouraged Workers67,432 (ages 23-25) looking for work 67,890 laid off receptionistslooking for work544,321 (ages 16-20) looking for work Current population is6,000,0005654 Temp Workers 5000 armed forces543 recent university graduates thatare going back to graduate school3500 institutionalizedi. According to Australia Bureau of Statistics, in 2020 the population of Australia is about 25.6 million. The adult population over the age above 15 years was reported to be about 21.3 million and the labour force is 16.5 million. The population employed was about 13.4 million. Following this information; a. What is the population of the people that is not included in the labour force? Show your work. ANSWER: b. Calculate the percentage of the people employed and the unemployment rate in Australia. Show your work. ANSWER: c. Currently unemployment has increased in Australia. What are the 2 main causes of increasing unemployment in Australia. Your answer should be based on the case study used during this trimester and current events events. ANSWER: ii. Examine the causes of at least two (2) main types of inflation ANSWER:From the data in this table, what would A be in 2021? Capital Population Workers GDP Real GDP Year (2021 values CPI (millions) (millions) Deflator (millions) in millions) 2021 100 50 115 $10,000,000 6,000,000 275 2071 200 100 250 $20,000,000 30,000,000 515 A = level of technology
- (b) Using the following data calculate: (i) (ii) (iii) (iv) (v) The number of persons employed. The number of persons unemployed. The labour force. The Labour Force Participation rate. The "official" unemployment rate. 987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 6543 Discouraged Workers 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5000 armed forces 5654 Temp Workers 543 recent university graduates that are going back to graduate school 3500 institutionalizedQuestion 1 Let’s assume that a country in the Caribbean reports the following labour statistical data to its citizen in 2011. Labour force: 140,200 Individuals under 16 years: 12,400 Employment: 132,700 Imprisonment: 980 Working age population: 210,900 Armed forces: 18,600 Use the information given to calculate the following: (a) Unemployment rate (b) Labour force participation rate (c) Employment to population ratio Institutionalized population ratio (d) Not in the labour force (e) Working age population ratio Question 2 For each of the following scenarios, state whether the unemployment is frictional, structural or cyclical. Justify your answer. (a) Ted lost his job when the steel mill closed down. He lacks the skills to work in another industry and so has been unemployed over a year. (b) Gwen had a job as a clerk but quit when her husband was transferred to another state. She looked for a month before finding a new job that she liked.Question 1 Let’s assume that a country in the Caribbean reports the following labour statistical data to its citizen in 2011. Labour force: 140,200 Individuals under 16 years: 12,400 Employment: 132,700 Imprisonment: 980 Working age population: 210,900 Armed forces: 18,600 Use the information given to calculate the following: (a) Unemployment rate (b) Labour force participation rate (c) Employment to population ratio Institutionalized population ratio (d) Not in the labour force (e) Working age population ratio Question 2 For each of the following scenarios, state whether the unemployment is frictional, structural or cyclical. Justify your answer. (a) Ted lost his job when the steel mill closed down. He lacks the skills to work in another industry and so has been unemployed over a year. (b) Gwen had a job as a clerk but quit when her husband was transferred to another state. She looked for a month before finding a new job that she liked. Learning Activity 8.2 Question 3 (a) Why…
- An analysis regarding the relationship between the unemployment rate and economic growth in a country(b) Using the following data calculate: (i) (ii) (ii) (iv) (v) The number of persons employed. The number of persons unemployed. The labour force. The Labour Force Participation rate. The “official" unemployment rate. 987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 67,890 laid off receptionists looking for work 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 544,321 (ages 16-20) looking for work Current population is 5654 Temp Workers 543 recent university graduates that are going back to graduate school 6,000,000 5000 armed forces 3500 institutionalized (c) Suppose that 20,000 of the employed switches to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not working and not seeking work, while the other 50% report that they are not working but seeking work.…An economic variable is any economic measure that a.can vary over a range of values b.has a fixed value over time c.Has no effect on the economy d. None
