Answered: Which of the following is not a…

Which of the following is not a micro-economic variable? [A] Demand of a commodity [B] Supply of a commodity [C] Price rise of a commodity [D] Employment generated in a year in a country

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: What are the factors, why volume of production of rice in Central Luzon (Philippines) decreased in…

A: Production: Production is an activity that uses labor, capital, and goods and services as inputs to…

Q: How does Professor Moretti explain the relationship between the new American economy and geography?

A: The New Geography of Jobs (Enrico Moretti) Professor Enrico Moretti, in his book The New Geography…

Q: If production of a good changes from 43 to 33 what is the percentage change in the quantity of the…

Q: What do you mean by a mixed economy? a) Modern and traditional industries b) Public and private…

A: Economics is an understanding of the usage of resources and how we can make those resources valuable…

Q: G3

A: It is a bunch of principles and ideas which explains the functioning of the economy or various…

Q: What are the single - use goods and the durable goods in economics with examples

A: In simple words economic services or the goods are those goods which are initially produced by the…

Q: 1. what is economics? 2. what is gross domestic product 3. what is inflation? 4. what is imports? 5.…

A: Ques 1) Economics : Economics is a subject matter or a social science dealing with how people make…

Q: Why does the value of output always equal the income received by resources that produced the output?

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

Q: Calculate the PPP-adjusted GDP for each of the four countries, using the information found in the…

A: GDP or gross domestic product is the sum of the value of all end commodities produced within the…

Q: the Cicular Flow of Economic Activity

A: Answer A circular flow of economic activity is a model showing the fundamental monetary…

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: TABLE 1 The following table represents the economic conditions in the tiny Pacific nation of…

A: PCE stands for Personal Consumption Expenditure. GDP stands for Gross Domestic Product

Q: Which of the following would be studied in macroeconomics? O a) individual markets b) changes in the…

A: Macroeconomics is the branch of economics that deals with issues concerning the economy as a whole.

Q: With the help of appropriate examples, explain the concept of value added.

A: Product or value added method is a method of calculating Gross Domestic Product.

Q: Define Economic Stagnation

A: Inflation refers to rise in average price level of goods and services. Economy is at full…

Q: Based on the table, calculate fisher price ındex and laspeyres price ındex for 1997. GOOD A…

A: Fisher-price ındex and Laspeyres price ındex are the two types of price indexes. The difference in…

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: An economy produces only food and fun. The table shows the quantities produced and prices in 2018…

A: Value of 2019 production in 2018 prices = Quantity of food (2019) * Price of food(2018) + Quantity…

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: Increasing GDP indicates

A: Gross domestic product (GDP) is the total financial or market value of the relative multitude of…

Q: Discuss A Self-Sufficient Economy

A: Economics is a social science which studies the efficient allocation of the scarce resources in the…

Q: In 2016, country A faced unfavorable weather conditions. Wheat production decreased to 450kg.…

A: Answer (4): Note: Answer 3 is correct thus I am not solving that. Let us use the output approach to…

Q: An economy produces Wine and Cheese. Prices and quantities for 2019 and 2020 are tabulated below.…

A: GDP is the value of all final goods and services produce in an economy during a specific period of…

Q: Value of sales ($) 2750 7750 20000 Dirt ($) 2750 Bricks ($) 7750 Wages ($) 1000 3700 10000 Interest…

A: GDP is an important macroeconomic measure of growth that is used to determine the total aggregate…

Q: The three main factors of production are and

A: The three main factors of the production are Land, Labour and Capital

Q: If a country produces 100 units of goods and it consume 60 units. Calculate the value of surplus and…

A: Production in country = 100 units Consumption in cosutry = 60 units

Q: In order to compare the market value of various things produced within an economy, a common unit is…

A: Currency refers to a medium of exchange for goods and services. In short, it's money, in the form of…

Q: Gross domestic product (GDP) figure gives an understanding of a market's Select one: a Economic…

A: Gross Domestic Product refers to value of goods and services produced in a country in a given period…

Q: Which of the following is a positive economic statement? A. Unemployment insurance payments…

A: Positive economic statements are statements or claims about the way the economy operates, which can…

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…

Q: Suppose that a painter uses 3 pieces of canvas valued at $50 each and paint valued at $150 total.…

A: Cost on Canvas = $50 per unit Quantity of Canvas = 3 Cost on paint = $150 Paintings worth = $200…

Q: what is the value of production in dollars (aka, Josel's income or value of production)? Explain…

A: In this case, we have to discuss the term value of production. Value of production means total…

Q: Explain the meaning of the following term. a. Ceteris paribus…

A: Hi! thanks for the question but as per the guidelines we answer only up to 3 subparts at one time.…

Q: Which of the following best describes a microeconomic question? (A) What is the value of US dollar…

A: Answer: The right answer for the above mentioned statement is option B: Should a particular firm…

Q: Use the table to answer the questions. Round your answers to the nearest cent. Country A Country…

A: a.)GDP per capita for country A:GDP per capita for country A can be calculated as follows:

Q: Describe the income method and the production method

A: INСОME METHОD АBОUT - The inсоme teсhnique uses the flоw оf fасtоr revenues tо…

Q: Big Mac in local currency in each country in 2012. The price of a Big Mac in the United States in…

A: Adjustments to the exchange rate are made to ensure that the purchasing power of two nations is…

Q: None

A: Here's why the other options are less likely:Increased savings rates among households: While some…

Q: Which

A: We know that , production process is facilitated by different factors such as land , labour…

Q: 19. What does the Utilization mean?

A: As there is no specific question mentioned to be answered and according to Bartleby policy we will…

Question

Which of the following is not a micro-economic variable?
[A] Demand of a commodity
[B] Supply of a commodity
[C] Price rise of a commodity
[D] Employment generated in a year in a country

Video Video

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Define the Problem

VIEW

Step 2: Identifying the Correct Option

VIEW

Step 3: Analyzing Incorrect Options

VIEW

Solution

VIEW

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

question attached in ss thanks tiltiltdjs46js4yjr rkuktukf appicte it kj
How does Professor Moretti explain the relationship between the new American economy and geography?
c) Assume she spends one hour writing book reports and two hours doing problem sets each week.Label the work she does ( producction) and the work she gets credit for(consumption) without trade A
Use the following diagram to answer the next question. Businesses Resource Market (1) (3) (2) Government (7) (8) Product Market (5) (6) Multiple Choice Households In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (4) might represent personal income taxes. investment spending by private corporations. the purchase of stealth bombers. the services of NASA astrophysicists.
Please all answer me
Which of the following is a macroeconomic issue? The price of butterThe number of new cars producedThe growth rate of total outputThe price of products sold in the steel industryThe price of cell phone service Question 8.8.When economists make the assumption that wants are unlimited, they mean that most people want more of everything.are satisfied with what they have.want more of some goods, even if they don’t want more of everything.don’t care what they have.are greedy. Question 9.9.What will cause a change along the supply curve? The supplier’s expectationsThe supplier’s costsThe price of the goodThe price of all other good? Question 10.10.Ceteris paribus, as applied in demand theory, means accounting for all possible simultaneous changes.holding constant all factors that affect demand except one.observing the real world.holding technology and resource prices constant.holding one input constant while changing the other input.
Value added means A. The final value of the good or service produced B. The value of of good sold in the beginning of the production process C. Value of intermediate good D. The difference between the output value and input cost of each step in the production process
Sand and bricks are __________ goods
c) Assume she spends one hour writing book reports and two hours doing problem sets each week.Label the work she does ( producction) and the work she gets credit for(consumption) without trade A
2. The population of Tatoonia is very small. Luis works full-time for pay. Robin works one shift a week as counter help at a fast-food restaurant. Sheila is retired. Shawna does not work for pay, but is thinking about getting a job and has been looking through employment postings to see what is available. Bob has given up looking for work, after months of not finding anything. Ana, the only child in the country, is 12 years old. a. How would a household survey, following U.S. methods, classify each person? b. What is the labor force participation rate in Tatoonia? c. What is the unemployment rate in Tatoonia?
What is the value of the market basket for 2006? Quantity Price (2006) Quantity Price Item (2006) (2007) (2007) Restaurant meals 100 $10.00 100 $12.00 Weeks of parking 50 $100.00 50 $97.50
analyze the business environment in the market of TURKEY Economic analysis of key indicators Demographics GNP/GDP Major sectors and industries Currency, interest, and inflation rates International trade patterns Labour force