Suppose you have the following information about production levels of Ibs. of caviar and bottles of wine, and the market-clearing prices for each of the nine allocations: 5. Allocation Caviar Wine Pricecaviar Pricewine GDP $50,000 50,000 50,000 50,000 50,000 50,000 $350.00 $166.67 187.50 90 100 175.00 200 300 80 214.29 250.00 300.00 70 116.67 60 400 87.50 50 500 70.00 F 40 600 375.00 58.33 ABCDE

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Question 2 Refer to the table below to answer the questions.   Price per Pizza Quantity Demanded  (Pizzas per Month) Quantity Supplied (Pizzas per Month) RM3 1,200 600 6 1,000 700 9 800 800 12 600 900 15 400 1,000   2.1) If the price per pizza is RM12, what happen to the price and why? ____________ 2.2) If the price per pizza is RM15, what happen to the market? _____________ 2.3) If the price per pizza is RM6, what happen to the market? ____________ 2.4) In this market there will be an excess demand of 300 pizzas at a price of _______ 2.5) In this market there will be an excess supply of 300 pizzas at a price of ________ 2.6) If the price per pizza is RM3, what happen to the price and why? ________________   Question 5 5.1) Jane has RM500 a week to spend on clothing and food. The price of clothing is RM25 and the price of food is RM10. The clothing and food pairs in Jane's choice set include ________ units of clothing and ________…

Calculate total GDP for this economy given the following components of demand. Round your answer to the nearest tenth and enter the value in trillions of dollars. Components of GDP on the Demand Side (in trillions of dollars) Consumption Investment Government spending Exports Imports Provide your answer below: trillion Total GDP 12.9 3.8 4.2 3.0 4.2 ?

1. This question asks you to do a comparative staties analysis in the market for rice. The following graph depicts the initial market equilibrium for rice. For each seenario, determine (i) whether demand or supply is affected, (i) in which direction the curve(s) shift, and (iii) how the equilibrium changes. a. com (a substitute for rice) is now considered by doctors to be more healthy than rice b. scientists developed a new more productive technology for growing rice c. consumers' incomes rose and rice is a nommal good d. a hurricane destroyed a majority of rice crop e wages of agricultural workers rise

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Question The graph below shows domestic supply and demand for coffee in the U.S. Suppose that at any price, foreign suppliers of coffee will supply 50, 000 pounds. The "Domestic Supply + Imports" curve is misplaced. Re-position the curve to reflect the provided information. (Note that quantity is expressed in thousands of pounds on the graph.) Provide your answer below: 150 -100- -50 0 P Demand Domestic Supply (40,$50) Domestic Supply+imports (75,$50) 100 Q 150

18. If consumers in the U.S. buy $3.5 billion of clothes made by businesses in Bangladesh, how is this accounted for in the expenditure categories? a. this is spending on a consumer good so GDP rises b. the clothes are imports so they reduce GDP c. the clothes are both consumer goods and imports so GDP doesn't change d. the GDP could rise or fall, it depends on whether the clothes were taxed

Which of the following pair of goods are Substitute goods:- (A) Bread and butter (B) Tea and sugar (C) Pen and ink (D) None of the above