Q: Distinguish the final goods or services, intermediate goods or services, and capital goods?
A: Intermediate goods are defined as those goods which are a part of the final good as they have been…
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A: Disposable Income: Disposable income is the income that remains after subtracting the taxes and this…
Q: What was the value added by Carlo's Bakery?
A: Here the superior Nut company imports peanuts for $3,000,000 and crushes them into peanut butter and…
Q: Role pf households in goods market and labour market
A: The circular flow model represents societal money flow. Money moves from producers to employees as…
Q: A sold goods to B for 20000. B whoes value added is 40000 sell half of its output to c and remaining…
A: GVA is the result of the country less the middle of the road utilization, which is the contrast…
Q: Why does the value of output always equal the income received by resources that produced the output?
A: Output – it the total amount of commodities or services produced in a particular time period. It…
Q: Name 4 factors that are likely to contribute to an improved rate of production
A: There may be many factors that can help to improve the rate of production.
Q: what is Value Added at Producer Price and Value Added at Purchaser Price. How are they calculated
A: Value-added at producer price: The producer's prices are the prices which are received by the…
Q: In the simple circular-flow diagram, who buys the factors of production
A: A simple circular flow diagram represents how dollars, inputs, outputs flow through the markets. The…
Q: How does the value of production relate to expenditure and income? The value of production ____. A.…
A: Production in economics is the process of creating things or services from inputs, both tangible and…
Q: Factor income from abroad is ____________. a. Included in the GDP b. Not included in the GDP c.…
A: Answer: b. Not included in the GDP Factor income from abroad is not included in the components of…
Q: A firm used $1,900 worth of peanuts and $100 worth of salt to produce peanut butter. This required…
A: In value added method, revenue – costs provides value that the firm added in the process
Q: Human capital is defined as: a. The skills and education that make workers more productive b. The…
A: Human capital refers to skills and experience of workers. It is also one of the factors affecting…
Q: ch the economy with its definition
A: Mixed Economy - It is the economy in which the decisions related to the economy (mainly consumption…
Q: Use the diagram below to answer the questions that follow. V J CONSUMER GOODS CAPITAL GOODS
A: The production possibilities frontier (PPF) is a basic production economic model used to outline how…
Q: A firm used $1,900 worth of peanuts and $100 worth of salt to produce peanut butter. This required…
A: Value-added is a method of calculating the final value of the output of a firm and GDP without the…
Q: What is meant by the term cost of living? Define and explain it.
A: Cost of living is a way to calculate the minimum amount of money required to cover basic need of an…
Q: production : a) is an individual activity b) is a cultural activity c) is a social activity d)…
A: Production is the activity of making something for selling or for consumption and creating something…
Q: An increase of 50 per cent in the cost of a certain consumable product raises the cost of living of…
A: The consumer price index (CPI) is used to measure the weighted basket of goods and services that a…
Q: The value of production in an economy is $19,467 billion. The economy has 329,43 million people.…
A: The production value = $19467 billion Population in the economy = 32943 million
Q: A nation’s gross domestic product is… a) C + I + G + (X-M) b) The total amount of money in…
A: Gross domestic product refers to the measurement that seeks to capture a country's economic output
Q: The most important determinant of a country's standard of living is A.) Labor supply B.)…
A: Standard of living refers to the accessibility of quality goods and services to the people living in…
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A:
Q: The main reason the cost of living varies acrossregions of the country is differences in the price…
A: The cost of living refers to the required amount of money to meet the basic expenses of a family…
Q: What is measured by how many goods and services a worker produces in an hour? O gross domestic…
A: Meaning of Factors of Production: The term factors of production refer to the situation under…
Q: Which is not a factor of production? Money Land Labor Capital
A: The factors of production are factors inputs and resources that are used to create the final…
Q: Final goods are within the production boundaries True/False
A: The goods which are used for investment or consumption purpose are called final goods.
Q: The overall cost of living is a lot less in China than it is in the USA or Europe. Why might this…
A: In the United States for instance, you can make a considerable amount of cash, however a great deal…
Q: Definition of micro
A: In economics we study the decision of societies in the condition of scarcity, people has to choose…
Q: Is the purchase of equipment or machinery a part of consumption or investment?
A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…
Q: _________ is output per hour in the business sector. a)GDP per capita b)Investment c)Productivity…
A: Businesses operate to make profit by producing output for which it needs to use various inputs.
Q: a)Distinguish between investment and capital, b) Explain the difference between an invention and an…
A: The economic activities and several other options of an economy are based upon certain components…
Q: A firm produces and sells a good for $95. To produce this good they purchased materials for $11,…
A: Value added = Value of output - Intermediate consumption
Q: How to classify goods as consumption goods and capital goods? Is there any specific way to do so?
A: If the good is capable of satisfying the human wants directly then it is referred to be as…
Q: Investment in everyday life is: a. The purchase of goods and services b. The purchase of capital…
A: An asset bought or invested in to grow wealth and save money through hard-earned income or…
Q: What are the factors used to measure economic well being?
A: The economics is derived from the GREEK word OKIONOMIA meaning management of household. It give the…
Q: Define economy
A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…
Q: What is the distinction between total value and unit value according to Mises?
A: The Mises is an institute that is described as a leading supporter of the world of the ideas of…
Q: What are the business factors
A: Business factors can be defined as the factors that affect the growth, profitability, sustainability…
Q: HOUSEHOLDS GOVERNMENT FACTOR MARKETS GOODS MARKETS X-M) REST OF WORLD X-M FIRMS e above diagram,…
A: Given, Y= $12 trillion C= $8 trillion I= $3 trillion (X-M)= -$3 trillion Therefore, Y=C+I+G+(X-M)…
Q: how the data could be better reported to convey the true production
A: Through general reports of Fine reports users can fetch data from different types of business…
Q: What is the value of total gross investment?
A: Total investment is an important component in the calculation of gross domestic product. Total gross…
Q: What is the individual’s human wealth? Total wealth?
A: Wealth: It is the estimation of the relative multitude of assets that are controlled by an…
Q: A sold goods to B for 20000. B whoes value added is 40000 sell half of its output to c and remaining…
A: value added method is a method of computing the national income of a country. This is also known…
Q: Expenditure Factor Service Households Firms Factor Income leakages Goods and Services injection…
A: ANSWER • Government can boost the economic growth through income and expenditure pattern using…
Q: Fill in the four missing numbers indicated in the table above. **** (i) ......... ... .....…
A: Monopoly: Monopoly is a fundamental feature in the construction of economic marketplaces. Monopoly…
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- Homework (Ch 03) Attempts: Keep the Highest: 3/4 2. Gains from trade Consider two neighboring island countries called Contente and Felicidad. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Rye Jeans Country (Bushels per hour of labor) (Pairs per hour of labor) Contente 6. 12 Felicidad 16 Initially, suppose Contente uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Felicidad uses 3 million hours of labor per week to produce rye and 1 million hours per week to produce jeans. Consequently, Contente produces 6 million bushels of Is rye and 36 million pairs of jeans, and Felicidad produces 12 million bushels of rye and 16 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each…or each of the following separate parts, you are required to draw one or two graphs. Make sure that you label both axes correctly. (a) Consider the demand for gasoline. Suppose more substitutes for gasoline are available. Draw a graph to show how the price of elasticity of demand for gasoline changes. (b) Country A produces two goods: chicken wings and pizzas. If unemployment rate increases, draw how the PPF of country A will change. Assume that opportunity costs are increasing. (c) Consider the market for new houses. Suppose the prices of the materials for building houses increase. Draw a graph to show how the equilibrium of market for new houses changes.Imagine that the export of Avocados from Indonesia is described by the relation E (P)= \frac{p²- 2-4p-5}{7p+5} where 'P' denotes the production of ten thousand Avocados in the country. On the basis of the above scenario, answer the following questions: (i) Draw the graph of E(P). (Use GeoGebra graphing tool for drawing the graphs) Using the graph: (ii) Determine if E(P) is a function of P. If yes, find the domain and range. (iii) If not, how can you make E(P) as a function? (iv) Find how much export is done for 70 and 20 thousand of production. (v) Additionally, explain here what dependent and independent variables in this problem are.
- Assume that Country A has an efficiency in output market. However, efficiency in the use of input production is not. Using graph, explain how the economy of Country A will adjust to achieve a desired equilibrium. What are the conditions to achieve this equilibrium?3.* Consider the Heckscher-Ohlin model with the following production functions for food and cloth- ing: QF = LK and Qc = LEK. (b) In autarky, suppose that the price of food is $12/unit and the price of clothing is $4/unit. Assuming both goods are produced... what must be the equilibrium Wage? Rental Rate? (c) Suppose the country opens up to trade, raising the price for clothing to $8. What is the new wage rate? Rental rate? What has happened to the distribution of income?Graphically demonstrate how the following economic events influence (ceteris paribus) the relevantsupplyfunction. Label your axes, and specify the market you are discussing. (a) Strong profits in the market for cyber security attract new firms. (b) Low-cost energy reduces the expense of producing and storing ice cream
- What is seperating equilibrium? Small answer with an example and diagram.Over the last several decades improvements in computer software, hardware and robotics have dramatically altered the ability of machines to do complex repetitive tasks. i) Discuss the implications for semi-skilled skilled workers as a result of this improvement. ii) Discuss how the cost of the new technology influences the choice of inputs used in production and the rate of adoption of the new technology.In Figure 2, what is the Net Benefit to Society (Steel Producer and Laundry Firm) from increasing steel production from S0 to S*? Describe why a move from S* to Su is not welfare enhancing for society (society here means the Steel Producer and Laundry Firm)
- An endogenous variable is a variable explained by an economic model. An exogenous variable is a variable that is taken as given and is not explained by an economic model. True O False(d) Determine the optimal consumption and production at Home and Foreign under autarky. Depict this situation in a graph that includes each country’s PPF and indifference curves for the representative consumer.A ng.cengage.com/static/nb/ui/evo/index.html?elSBN=97803571336998&id%3D1391657528&snapshotld%3D2768299& nail O YouTube Maps n Classes O Mail - Jaira Ross -. Documents | Feder... O patreon MindTap - Cengage. O Your Sets | Quizlet AK Watch Boruto: Naru. CENGAGE MINDTAP Q Search this co Homework (Ch 03) Consider two neighboring island countries called Arcadia and Euphoria, They each have 4 million labor hours available per week that they can use to produce corn, jeans, or a combination of both. The following table shows the amount of corn or jeans that can be produced using 1 hour of labor. nd Study Tools otions Corn Jeans Country (Bushels per hour of labor) (Pairs per hour of labor) uccess Tips Arcadia 12 24 Euphoria 8 32 uccess Tips Initially, suppose Arcadia uses 1 million hours of labor per week to produce corn and 3 million hours per week to produce jeans, while Euphoria uses 3 edback million hours of labor per week to produce corn and 1 million hours per week to produce jeans.…
