If production of a good changes from 43 to 33 what is the percentage change in the quantity of the good produced?  Enter a number rounded to two decimal places.  Do not enter a percent sign.

Q: Which of the following is considered a factor of production? A) Money B) Labor C) Stocks and bonds…

A: Factors of production are the resources used to create goods and services known as the production…

Q: is the GDP of India dependant on the price of oil?

A: Oil is one of the highest used natural resources due to alternative uses of it, such that in…

Q: The consumer price index is used to: a. Track changes in the level of wholesale prices in the…

A: Inflation refers to the increase in the prices of goods and services over a period of time, it is…

Q: Among the adult population of a certain town 50 per cent are males, 60 per cent are wage earners and…

A:

Q: Marginal product of labor 95 45 0 85 MPL Real wage Quantity of Labor Food is produced using land and…

A: The inputs such as capital, labour and land are used to produce and output in the market is known as…

Q: If you were studying the following relationship, which variable would be exogenous and which would…

A: Endogenous variables are those variables whose values are determined in the model. It is also called…

Q: Q.3.2 Refer to the information relating to the cost of a basket of consumer goods and services in…

A: The entities in an economy are involved in various activities. These activities are associated with…

Q: Suppose in 2019, the cost of a market basket of goods was $1,995. In 2021, the cost of the same…

A: In 2019 Cost of a market basket of goods = 1995 In 2021 Cost of a market basket of goods = 2119

Q: Assuming that the Consumer Price Index increases from 100 to 120... Group of answer choices Less…

A: Consumer price index is a measure to calculate the increase in cost of basket of goods and services.

Q: Question 22

A: In national accounting, an economy's GDP is estimated by adding all final commodities' values that…

Q: Match each of the numbered items in the list with the numbers in the drop-down menus: an increase in…

A: At the point when the curve moves outward the result and real GDP increment at a given cost.…

Q: The measurement of GDP calculates the value of intermediate goods which is already included in the…

A: Final goods are goods that do not need any further processing. Final goods are produced for the…

Q: The Data of Macroeconomics – Work It Out Question b. Calculate the percentage change in each of the…

A: Real GDP is used to compute economic growth. The percentage change in real GDP is the GDP growth…

Q: Which of the following is not a continuous variable? Time to complete this question. Interest rate.…

A: Continuos variable can take any value in a particular interval. Example; Weight of students in…

Q: For questions 1-3, choose the letter of the diagram in figure 2.1 that best describes the type of…

A: Consumers are individuals or entities that purchase and use goods and services to satisfy their…

Q: Perform these same calculations for 2018 and 2019, and enter the results in the following table.…

A: In an economy, the CSPI is calculated by dividing the current year's cost of basket to the cost of…

Q: The size of the Australian cereal market (for both dollar and item sold)?..

A: The growing demand for convenient and wholesome packed breakfast cereals in both developed and…

Q: Suppose that the consumption basket consists of gasoline, mugs, and movies. In the base month,…

A: Using the following formula CPI = 100* cost of market basket in the current period/ cost of market…

Q: When milk consumption decreased, a survey firm wanted to know what was going on, so they interviewed…

A: Consumption: It is the use of goods or services by households.

Q: Question 9 Which of the following is an intermediate good? pizza sold to a customer in a restaurant…

A: In economics, a good is said to be an intermediate good when it is not directly consumed by a…

Q: The next few questions are about Ec102nia, a fictional country populated by Ec102 students. Data on…

A: GDP: Gross domestic product or what is commonly known as GDP is the measurement of the final value…

Q: Mr Adam was purchasing 1 kg daal and 6 kg rice. This week Mr Adam is purchasing 2 kg daal and 5 kg…

A: The above question describes the concept of marginal rate of substitution. MRS is the amount of a…

Q: The table provided shows the amount consumers of a country spend on five items and the percentage…

A: Total expenditure is the multiplication of price and quantity. It means as the price rises then the…

Q: The following table lists the basket of goods in the Consumer Price Index for the nation of Astro…

A: To measure inflation, the weighted average of the cost of the basket of goods over years. This is…

Q: What do economists use to make decisions about economic matters? a) a decision grid b) The…

A: Monetary navigation is an intricate cycle that includes investigating different elements and…

Q: Alyssa spends all of her money on comic books and mandarins. In 2014, she earned $27.00 per hour,…

A: The real value is the value of economic variable that is calculated in terms of any other variable.

Q: a. If the price of protein bars rose from $2.40 to $2.70 over this period, while the price of…

A: Nominal GDP = Price of goods in current year * Quantity of goods in current year Real GDP = Price of…

Q: An economy produces orange (in kilos) and computers (in units). The quantities of orange in years…

A: A summation of countries' final goods and services is known as Gross domestic product.. It measures…

Q: 2010 Price Quantity 100 2016 Price QuantitY 113 55 85 10 se.24 50.32 0.29 0.34 1.04 0.64 0.43 50…

A: a) The simple price index formula is given by = Pcurrent/Pbase *100 Thus, Fruit Price Index…

Q: Which of the following is an intermediate good? Gasoline purchased for a ski trip to Colorado. O The…

A: In a broader basis we can categories goods as intermediate and final goods. As the name suggests,…

Q: Look up the current price of oil in a commodity index. (Ex. stock market). What trends do you see…

A: Crude oil is the source of various fuels.  Gas stations are stations like petrol pumps where natural…

Q: George owns a house on a 10-acre lot filled with peach trees. Each year he hires a few workers to…

A: a). GDP increases by the total value of the final goods sold to consumers. In this case, it's the…

Q: Production and consumption lie on the same isovalue line.’ Explain this statement with the help of a…

A: Relative price and demand  The relationship between production, consumption in the standard model…

Q: Make a qualitative title.(any topics will do and define its dependent and independent variable)

A: There are two variable in any function. Dependent and independent .  Dependent variables are those…

Q: Households make expenditure payments in exchange for Multiple Choice   resources purchased in the…

A: In the circular flow, firms are households are both buyers and sellers.

Q: mair gel. The table below shows the price of haircuts and hair gel for several years. Let the base…

A: The consumer price index (CPI) helps us to calculate the general price level in the economy at a…

Q: The table shows the quantities produced and prices in 2015 and 2016 for an island economy which…

A: The quantity and price of mangoes and pineapples in 2015 and 2016 are shown in the table…

Q: Suppose the United States produces two types of goods: agricultural and capital. The following…

A: A production possibility curve shows various combinations of two goods that an economy can produce…

Q: Katniss works for the Panem Bureau of Economic Analysis. Panem produces three goods: bread and axes,…

A: We know that, GDP is the money value of all final goods and services that can be produced within a…