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: State three ways used to measure the amount of economic activity in the economy

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

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: How much are they spending for the products of the country. a. consumption b. investment c. gross…

A: The used approach, otherwise called the spending approach, ascertains spending by the various…

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: 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: shift the production possibilities curve from PP2 to PP3 shift the production possibilitles curve…

A: The production possibility frontier would result in the maximum output that can be produced with 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: The country of Econoland produces two goods: textbooks and widgets. Last year produced 200 textbooks…

A: Given, Last year's total output of textbook = 200 Last year's total output of widget = 500 Present…

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: The main reason the cost of living varies acrossregions of the country is differences in the price…

A: The cost of living refers to the required amount of money to meet the basic expenses of a family…

Q: Increasing GDP indicates

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

Q: . What metrics can help analyze the economic environment of a country?

A: Economic environment The phrase "economic environment" relates to all the exterior economic elements…

Q: The figure below shows the flows of expenditure and income in Australia. (2.a) Name the flows of…

A: The circular flow model would result in the flow of income or output among the various economic…

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: Part 1 * Katniss works for the Panem Bureau of Economic Analysis. Panem produces three goods: bread…

A: The finished value of services and goods manufactured in a particular country at a given time…

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: instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure…

A: The balance of trade, commercial balance, or net exports, is the difference between the monetary…

Q: Use the following basket of goods for years 2006, 2007, and 2008 to answer questions 1 through 10:…

A: In an economy, price change in different periods is calculated by the price indexes such as consumer…

Q: Which of the following The labor used to UGGs sold online O Advertisements fo The utility or enjoy

A: Factors of production refer to inputs used in the process of production of output. There are four…

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: Question 2 Consider an economy that produces and consumes shoes and houses. In the table below are…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

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…

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

How to classify goods as consumption goods and capital goods? Is there any specific way to do so?
Explain the meaning of the following term. a. Ceteris paribus b. Deflation c. Unemployment d. Gross Domestic Product e. Producer surplus
Hello: Which of the following best describes a microeconomic question? (A) What is the value of US dollar in terms of other foreign currencies? (B) Should a particular firm enter a market? (C) Is the company of Japan in a recession? (D) What is the value of the goods and services that the United States produces every year? (E) What is the aggregate price level in an economy?
Use the table to answer the questions. Round your answers to the nearest cent. Country A Country CountryGross domestic product (GDP) Population 7 trillion $1.25 trillion 350 million 50 million What is the GDP per capita for Country A? What is the GDP per capita for Country B? Which country has the largest average GDP per capita? Country A O Country B
Describe the income method and the production method
CS 9 Economics
None
19. What does the Utilization mean? 20. How can food Utilization be improved? 21. What does Stability mean?
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.