Economics is a discipline that is divided into two broad branches, which are they?

Q: If the reserve ratio was 15% and someone deposited an additional $40,000, what would be the maximum…

A: The money multiplier is the relationship between the money supply and the monetary base of an…

Q: A market tends to be monopolistic if   a.  ​The good has too many substitutes     b.  ​The good…

A: A monopolistic competitive market has following characteristics:(1) There are large number of firms…

Q: Given a demand curve of P = 199 - 9Qd and supply of P = 9 + 3Qs, find the price elasticity of demand…

A: The equilibrium quantity is the quantity of a good or service that is bought and sold at the point…

Q: Assume we know that over the last 5 years, the velocity of M2 has been decreasing by 1% per year.…

A: This question asked us to determine the growth rate of the money supply per year based on the given…

Q: $ Short and Long Run Average and Marginal Cost A TP₁ TP2 TP 3 On the graph above, why does the red…

A: This question asked us to determine why the red line intersects the green dashed line at TP₂ in the…

Q: Consider Figure 11.2. A shifting from point A to point C (AD1 to AD2) could be due to a (an)

A: Aggregate demand illustrates the inverse relationship between price level and the total quantity of…

Q: Reserves, Deposits and the Money Multiplier If the money multiplier is 25, then the required reserve…

A: The reserve ratio describes the proportion of a bank's deposits required to be held in reserve,…

Q: Find the p-value if Z < -.90, alpha = 0.05 (one-tail, lower tail)

A: In this scenario, we're dealing with a one-tailed hypothesis test using the standard normal…

Q: In Italy, the domestic market demand for rice is P = 100-2Q, and the domestic market supply of rice…

A: Domestic demand function: P=100−2Q       .... (1)Domestic supply equation: P=10+Q             ...…

Q: Part I. You are the new owner of a candle shop in Greenwood Mall. Your first duty as new owner and…

A: “Since you have posted a question with multiple sub-parts, we will provide the solution only to the…

Q: Consider a municipality A and an irrigation district B with the following marginalnet benefit…

A: This question asked us to determine the optimal water consumption for both A and B under different…

Q: Generally speaking, as more of a good is purchased by an individual consumer, marginal utility A.…

A: Marginal utility refers to the additional satisfaction or benefit that a consumer derives from…

Q: Price $16 14 12 10 8 6 4 2 Sd 10 20 30 40 50 60 70 80 90 Quantity Da Please refer to the graph…

A: The exchange of goods and services is known as trade, whereas when it happens internationally…

Q: What would cause a fall in the tax base? OA. The number of residents earning income fell. B. Incomes…

A: The tax base refers to the total amount of assets or income that can be taxed by a government. In…

Q: 2. Consider a one-consumer one-firm economy in which u(x) = x₂ + √/Tq and ƒ(z) = √√z. (a) Derive the…

A: The answer provided below has been developed in a clear step by step manner.Step: 1Introduction To…

Q: An economic benefit to engaging in intra-industry trade between countries includes a) division of…

A: Intra-industry trade refers to the exchange of similar products belonging to the same industry. The…

Q: When buying a car from a commission salesman you improve your bargaining position by   a.…

A: A commission salesman is a person who earns a commission or a percentage of the sales value for each…

Q: Part 1: Breakeven Analysis for a Conference. The Greenville Center for Business Analytics is an…

A: Here's an influence diagram modeling the factors that influence the conference's total profit:…

Q: At Nick's Bakery, the cost to make a cheese danish is $1.50 per danish. As a result of selling 10…

A: The difference between the price at which a good is sold and the lowest price a producer is willing…

Q: Recently, the Metropolitan Transportation Authority (MTA) voted to pass a policy that charges…

A: Externality in economics is a situation where the activities of one party impacts the other party…

Q: Table 1 Assume that England and Spain can switch between producing cheese and producing bread at a…

A: Comparative advantage refers to the ability to produce goods and services at a lower opportunity…

Q: In regards to time lags as they relate to Fiscal Policy, which lag is possibly the longest and most…

A: Fiscal policy, a critical tool for government economic management, involves adjustments in…

Q: Given a demand function of P = 104 - 3Qd and supply of P = 29 + 3Qs, the utility function U =…

A: In an economy where the government employs a price control, whether it is a price ceiling or price…

Q: (USE PW

A: The present worth is a financial metric used to evaluate the value of cash flows over time. It…

Q: Based on Okun's rule of thumb, if you forecast that the output gap will decline from -1% to -3%, the…

A: This question asked us to determine the change in the unemployment rate based on Okun's rule of…

Q: The monopolist has total fixed costs of $40 and a constant marginal cost of $5. What is the…

A: A monopolist is a market participant with exclusive control over the supply of a particular product…

Q: What are the three eras regarding the history of human population growth, and what are the…

A: This question asked us to outline the three eras of human population growth and elucidate the major…

Q: If the Fed wishes to reduce the money supply, it can sell U.S. government securities to member bank-…

A: The Federal Reserve (the Fed) is the central bank of the United States and plays a pivotal role in…

Q: Principles of Macroeconomics Chapter 7-INFLATION Worksheet 1. Calculate the CPI for the following…

A: The consumer price index refers to the price of a certain basket of commodities at the price level…

Q: What is the externality in the market for alcohol? Draw a market diagram for alcoholic beverages,…

A: An externality refers to the unintended side effects or consequences of an economic activity that…

Q: Which is an example of reducing the amount of waste created in the environment?

A: Environmental economics is a branch of economics that studies how people interact with the natural…

Q: Which of the following strategic approaches to election campaigns is the most common today? Select…

A: This question asked us to the most common strategic approach to election campaigns today. The…

Q: Suppose that a price-searcher firm had a demand function for its product given by: Qp= 400-5P. Find…

A: The additional revenue generated from the sale of one additional unit of a good or service is termed…

Q: Given a demand curve of P = 171 - 1Qd and supply of P = 62 + 1Qs, find the equilibrium price (Pe),…

A: Demand refers to the quantity of goods or service that a consumer is willing and able to buy at a…

Q: The diagram below shows alternate paths for two hypothetical economies, each starting with GDP of $1…

A: The propensity to consume denotes the propensity to spend a share of income on consuming goods and…

Q: average total cost (ATC) curve will be downward sloping so long as the a. marginal cost is greater…

A: The average total cost is the per unit cost of production. The ATC = TC/Q. The Total cost includes…

Q: Assume an upward labour supply curve in wage (?) and employment coordinate system. Calculate the…

A: Labor supply refers to the quantity of labor that individuals are willing and able to offer in the…

Q: Economists draw a distinction between world as it is, and statements, which describe th statements,…

A: You appear to be addressing a basic subject in economics and philosophy: the distinction between…

Q: Why do oligopolies exist? Explain if you regularly purchase products owned by an oligopoly

A: Oligopolies, where a handful of firms dominate a market, thrive for a mix of reasons. High barriers…

Q: Greater protection of property rights will: A) increase productivity B) increase savings rates C)…

A: The correct answer is C) Both A and B.Greater protection of property rights can indeed increase both…

Q: Given a demand function of P = 116-7Qd and supply of P = 38 +6Qs, the utility function U =…

A: Demand:Demand  is the desire of an individual ability and willingness to pay for a product. The…

Q: Multiple Choice Surplus will increase overall. Producer surplus will decrease Surplus will transfer…

A: Consumer surplus is the gap between the maximum price a consumer receives and minimum price a…

Q: Given an effective semi-annual rate of 1.08750%, find the equivalent effective weekly rate. (You…

A: The equivalent effective weekly rate is a way of expressing an interest or discount rate on a weekly…

Q: Activity in money markets increased significantly in the late 1970s and early 1980s because of O…

A: The correct answer is: both A and B of the above.Activity in money markets increased significantly…

Q: E). ABC and MNO agree to jointly maximize profits. If ABC and MNO each break the agreement and each…

A: A duopoly is a type of oligopoly market in which two firms sell a product to a large number of…

Q: Open market purchases raise the OA. money base; money multiplier OB. money multiplier; money supply…

A: Open market operations (OMOs) are a key monetary policy tool used by central banks to control the…

Q: The market for apartments in the town of Westerville is currently in equilibrium and consumers are…

A: The link between the amount of a product provided and its price, while maintaining other variables…

Q: A manufacture has been selling 1350 television sets a week at $450 each. A market survey indicates…

A: x: Number of television sets sold per weekp(x): Demand function, representing the price per set at…

Q: Refer to the above diagram. To maximize profit or minimize losses this firm will produce: A) D…

A: A perfectly competitive market is a theoretical model of a market structure characterized by…

Q: given the Iso-risk contour , how many accidents per year are expected at point B ? Note that the…

A: This question asked us to calculate the expected number of accidents per year at point B using the…