estion 1 Towns M OL Refer to the above figure. This economy has the ability to produce at which point(s)? O b. K, M, N O a. J, K, M, N Oc. K. N O d. M
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- Exercise D25 What role does government play in stabilizing the economy and what are the tradeoffs that must be considered?Microsoft Word - (2)p macro HW 1 B AaBbCc AaBbCAaBbCcDc AaBbCcDc 2 ulgi 1 ülaue blout Production Year 1 Good X 50 Good Y 100 Prices ear! $1.20 S0.60 Year 2 Year 3 Year 1 $1.00 S0.60 Year3 S1.20 50 60 140 120 1-Assume that this economy produces onlytwo goods Good Xand Good Y. The value for this economy's nominal GDP in year lis 2- Assume that this economy produces only two goods Good l'and Good Y The value for this economy'snominal GDP in year 3 is 3-Assume that this economy produces only two goods Good l'and Good Y The value for this economy s nominal GDP in yea 4-Assume that this econonmy produces onlyt 1 is the base year. the value for this economy sre land Good Y If year 5-Assume that this economy produces only two goods Good land Good Y If year 1 is the base vear. the value for this economy's GDP deflator in vear 1 is 6- Assume that this economy produces only two goods Good.I and Good Y If year 1 is the base year. the value for this economy's GDP deflator in year 2 is 7- Assume…Production possibilities Pizza Possibility In the above table, the production of 3 pizzas and 80 cases of soda is O feasible but would involve unemployed or misallocated resources. O possible only if there is inflation cono my produces with maximum efficiency. possible only if the ec O impossible uniess more resources become available or technology improves.
- worn out in the production process. ment Now IzMe: Section 2.7 uge your comprehension of this section. To begin, please click the wnward arrow located at the top right of this box. Assignment Score: 0.00% Submit Assignment for Grading Save ns tu2et10h_Ch02_Sec07.02m « Question 2 of 3 » Check My Work Three different economies have made choices about the production of capital goods. Which of the following is most likely to produce the greatest growth in the production possibilities curve (PPC)? O a. Less production of capital goods than what is needed to replace worn-out capital. Ob. Capital goods produced at the exact rate needed to replace worn-out capital. c. More production of consumption goods that replace worn-out capital. O d. Greater production of capital goods than what is needed to replace worn-out capital. MacBook Air DD F6 EZ F8 F9 F10 F11 F12 & * 6 7 8 { P + 000QUESTION 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…Real Consumption westion 1 The diagram below shows alternate paths for two hypothetical economies, each starting with GDP of $1 billion. Assume that Area 1 is equal to Area 2. at yet swered rked out of Economy B 2% growth Area 2 Flag question Еconomy A 1% growth Area 1 Year X Year Y Time FIGURE 25-1 Refer to Figure 25-1. Which of the following statements about Economies A and B is correct? Select one: O a. Economy B will sustain higher material living standards than Economy A in the long run. O b. Economies A and B will have equal material living standards beginning at Year Y. O C. Economies A and B will have equal material living standards beginning at Year 0. O d. Economy A will sustain higher material living standards than Economy B in the long run. O e. Economies A and B will have equal material living standards beginning at Year X. In a macro model with a constant nrice levelan increase in government nurchases will cause the AF curve to shift E 2°C Light rain/snow 13:01 on 2 C )…
- Define factors of production and describehow they contribute to output.ng Exchange 2021 ON1000- Principles of Economics 1| S1 21/22 Time left 0:34:02 The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. stion 18 yet vered Prices and Quantities ked out of Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk Flag estion 2008 $4.00 90 $1.50 150 2009 $4.00 100 $2.00 180 In 2009, this country's Select one: a. real GDP was $660, and the GDP deflator was 115.2 b. real GDP was $670, and the GDP deflator was 115.2 C. real GDP was $670, and the GDP deflator was 113.4 d. real GDP was $660, and the GDP deflator was 113.4 Next page Previous page10- Skeletons 0 ● 5 10 15 Pumpkins Chart 1 ou 10- Skeletons OU 10 5 10 15 Pumpkins Chart 2 The Dark Points in Each Chart Represent Current Economic State. What is the Maximum amount of Pumpkins you could produce Skeletons 10 15 Pumpkins Chart 3 ACCES 15- 10 5- 0 Skeletons S 10 15 Pumpkins Chart 4 3 POINTS: Use the above information to answer the following questions. Which Chart shows a poimt a point that is not possible with current economic contraints to produce Pumpkins and Skeletons OA. Chart 3 OB. Chart 1 OC. Chart 2 O Chart 4
- ( gas prises are rising because ther aren't enough oil refineries) ( gas prices are rising becuae of the growing demand for gasoline from india) Are they normative or positive statment?Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?
