Give the (2) different types of economy. Explain each type.

Q: Explain how , in the basic Circular Flow diagram, households and firms can be thought of as both…

A: In financial aspects, the circular flow diagram outline addresses the association of an economy in…

Q: Why should the government try to help the economy and support it? Give at least two reasons.

A: A government plays a significant role in influencing the market outcome and to make changes in the…

Q: ate the three possible relationships between production, income and spending in macroeconomic theory

A: Macroeconomics is the study of aggregate phenomena including economic growth, business cycles,…

Q: The figure shows the flows of income and expenditure in an economy. FINANCIAL MARKETS In 2008, Q was…

A: Solution -1)  We know,  Q = U + W + Z + Investments $1200 = $200 + $650 + $80 + Investment $1200 =…

Q: effects of technology on the economy

A: In economics aspects, it is broadly acknowledged that innovation/technologies is the vital driver of…

Q: A command economy is an economy with both free market and central planning attributes 2. The most…

A: A command economy is an economy in which the central government plans, organizes, and controls all…

Q: Societies choose what share of their resources to devote to consumption and what share to devote to…

A: a. Describe some forms of private spending that represent consumption and some forms that represent…

Q: Examples of all three sectors of the economy in the setences below. What are those examples exactly?

A: Every economy comprises of  3 sectors-   Primary sector   Secondary/Manufacturing sector…

Q: Tom says the economy should focus more on producing fun things people can buy if it is going to…

A: Answer: In my point of view, Tom is right because when economic growth is in question, then…

Q: For each of the following products state if it is a final or intermediate good and explain why? A…

A: Intermediate goods: - Intermediate goods are those goods that are used in the production of other…

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: In Zionville, GDP is $26,500. Consumption spending is $12,000, Investment spending is $5000, exports…

A: GDP is the sum of consumption(C) investment(I), government expenditure(G) and net export(NX)

Q: example of a significant aspect of an economy?

A: Economy- It is a group of activities related to production and consumption which helps in the…

Q: For a consumption dependent economy like Malaysia and the United States, which factor contributes…

A: Personal Consumption Expenditures. Consumer spending contributes almost 70% of the entire us…

Q: Consider an economy which produces and sells, among a host of other things, 100 million T-shirts a…

A: The total monetary or market worth of all finished goods and services produced inside a country's…

Q: In the two-sector economy, Y = YD. Prove Y = YD

A: Two sector economy: In the Keynesian two-sector economy there are just two entities: household and…

Q: QUESTION 7 In reality, AD rarely O decreases; increases at a pace much slower than potential GDP O…

A: Aggregate demand shows the inverse relationship between price and quantity demanded. It is downward…

Q: What is differance between three sector ecnomoy and four sector ecnomoy

A: The three-sector economy involves three sectors namely: households business, and government .The…

Q: Question one: According to classical economic theory, there is an invisible hand in the economy.…

A: According to the classical economic theory, there is an invisible hand in the economy. This can be…

Q: In the circular flow model, how does government affect the economy? What about the rest of the…

A: The circular flow model depicts how money circulates in society. Money moves from producers to…

Q: In an economy where people spend 80% of their incomes, the government lowers taxes by $5000.…

A: Gross domestic product is a monetary measure of the market value of all the services and final goods…

Q: Why do economists focus on the GDP, inflation, and unemployment when assessing the health of the…

A: The Gross Domestic Product (GDP) refers to the total production done in a year within a year. It…

Q: Suppose that the table below shows an economy's relationship between real output and the inputs…

A: Given input and real output of the economy Productivity = Real output / inputs

Q: .If the economy wants to decrease private sector's investment spending,    a. both the government…

A: According to classical economists, the expansionary fiscal policy in which government spending (G)…

Q: ose an extremely simple economy wo goods, pillows and rugs. In the Lows are produced and sold at $5…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: consume

A: The question concern the paradox of thrift. If all the people of the economy increase the proportion…

Q: Use real-life examples to explain issues related to old and new economies

A: The area of trade, distribution, consumption and production of goods and services in an economy is…

Q: The economy can be represented by economic models. One of the models we use to understand the…

A: 1) Circular flow diagram is a model which represents the flow of money and good and services from…

Q: What do you think is the biggest challenge related to the new economy?

A: Today's new economy focused more on the knowledge economy and not on the production economy. By the…

Q: Define economy

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: Increases in real GDP are often interpreted as increases in welfare. What are some problems…

A: An increment in ostensible GDP may simply mean costs have expanded, while an expansion in genuine…

Q: How much more output does the $20 trillion U.S economy produce when GDP increases by 1.0 percent?

A: Output – it the total amount of commodities or services produced in a particular time period.…

Q: For another think, an economy with a low GDP but a strong....... is healthier than an economy with a…

A:

Q: Explain the Two Sector Model of Economy with its Genesis & Circular Flow of Income in 2 Sector…

A: The GDP or the gross domestic product of an economy is the value of the output that is newly…

Q: he end of the year: you sell trees Lei cut down for $27,000; you pay Lei $15,000; and your saw is…

A: GDP is the aggregate value of goods and services produced within the domestic territory of a nation…

Q: Which companies engage in the circular economy

A: Circular economy: It is an idea of circulating resources in the economy in form of goods and…

Q: Provide example on how individuals may get finding from the capital markets?

A: Capital market is the market where long term funds are raised by individuals , firms , companies .…

Q: Could you say that the consumers are a significant aspect of an economy? If so, why?

A: Consumers are those who pays for the consumption of services and goods that are produced within an…

Q: If all quantities produced rise by 5 percent and allprices fall by 5 percent, which of the following…

A: When the quantity produced increases by 5 percent, it will increase the real GDP of the economy by 5…

Q: Three major flows in an economy are; production, money and spending. Select one: True False

A: In economics, all the variables or economics concept are based on three major economic flows

Q: How might a theory of the economy differ from a description of that economy.

A: The theory of the economy and the description of that economy affect each other. The theory of the…

Q: What is ? 1-)Potential GDP 2-)Monetary Policy 3-)Fiscal Policy

A: Potential GDP: When an economy can produce a level of output at inflation rate that is constant then…