3) How does a society benefit from the production of capital goods?

Property rights are a crucial part of a functioning market economy and economic growth. Consider the difference between cows and endangered species of animals. How do property rights prevent cows from becoming extinct? If it were legal to buy and sell endangered species, would it help them recover? Why or why not? How do property rights help to allocate resources to their best uses?

Which of the following exemplifies a microeconomic question? Multiple Choice   What is the current national rate of unemployment?   Is the economy experiencing a decline in the rate of inflation?   Will a new type of electronic reader or tablet increase the number of buyers?   Is the aggregate output in the economy greater this year than last year?

Hand written solutions are strictly prohibited

a. Suppose that businesses buy a total of $150 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $80 billion in wages, $20 billion in rent, and $30 billion in interest, how much are households paid for providing entrepreneurial ability? %24 billion b. If households spend $80 billion on goods and $70 billion on services, how much in revenues do businesses receive in the product market? %24 billion

Refer to the information provided in Figure below for the economy of Macroland to answer the question. Capital goods A Consumer goods Refer to Figure above Macroland's production possibility frontier is bowed out from the origin due to Select one: a. decreasing opportunity costs. b. trade. c. specialized resources. d. unemployment.

More than 200 years ago, Adam Smith argued that the wealth of nations depends upon gains from (a) specialization and trade, (b) expanding the size of the market, and (c) discovering better (more productive) ways of doing things. Explain why you either agree or disagree with Smith's view.

Please answer the following questions and carefully label , and briefly explain the following diagrams. You are welcome to write any accompanying text by hand. 5. Show how the diagram changes if there is an improvement in the technology of food production.Hint: this means that for a given number of hours’ work, Angela can produce more.    5.2. If Angela is an independent farmer, show how the technology improvement might cause heroptimal labour supply to either fall or rise. Which seems more consistent with the data?

I need a correct option for the question attached. Thank you!

Use the concept of an economy-wide production possibilities to explain full employment output and economic growth. Why is full employment and economic growth both important for all economies?