1.5 Equilibrium refers to a situation where: a) the key quantities are equal. b) all the...
1.5 Equilibrium refers to a situation where: a) the key quantities are equal. b) all the variables balance out, i.e., their sum is zero. c) all resources are fully employed. d) no participant in the process desires to change his or her behaviour. e) production equals income.
Homework Answers
Option D
This is the case of a general definition of equilibrium and not equilibrium in market for goods and services. Due to this, it shows the balance between variables economic agents are arguing for under an allocation so that they have no intention to switch to any other allocation.
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1.5 Equilibrium refers to a situation where: a) the key
quantities are equal. b) all the...
Please answer and explain the steps involved in each. 20. The rate of product transformation refers...
Please answer and explain the steps involved in each.
20. The rate of product transformation refers to a. how a consumer can trade one good for another while still maximizing his or her utility. b. how a firm can substitute one input for another and still maintain the same production level. c. how production of one good can be substituted for another while still using a fixed supply of inputs efficiently. d. how quickly a firm can produce a final...
12. A market is said to be in equilibrium when: A Quantity demanded equals quantity supplied...
12. A market is said to be in equilibrium when: A Quantity demanded equals quantity supplied B. Production costs equal revenues from sale of the output C. The number of sellers equals the number of buyers D. People's needs are fully met 13. At the equilibrium prices: A. There are shortages but no surpluses B. There are surpluses but no shortages C. The economic problem of scarcity is no longer relevant D. There are no shortages or surpluses 14. An...
please answer all the following Lesson 1.4-Specialization and Trade Tony can produce any of the following...
please answer all the following
Lesson 1.4-Specialization and Trade Tony can produce any of the following combinations of goods X and Y (a) 100 X and O Y, (b) 50 X and 25 Y, and (c) OX and 50 Y. Darlene can produce any of the following combinations of goods X and Y (a) 50 X and O Y, (b) 25 X and 40 Y, and (c) O X and 80 Y. Who has the comparative advantage in the production...
Q1) Answer all Multiple Choice questions.i) Newton’s 1st law is:A. PHYSICALLY INDEPENDENT of the...
Q1) Answer all Multiple Choice questions.i) Newton’s 1st law is:A. PHYSICALLY INDEPENDENT of the other two laws
of motion and CANNOT be dispensed with as an axiom
of Newtonian physics.B. PHYSICALLY INDEPENDENT of the other two laws
of motion, but nonetheless it CAN be dispensed
with as an axiom of Newtonian physics.C. Actually a SPECIAL CASE of the 2ND LAW. The
case when the net force is zero. Therefore, logically we need only
two laws of motion. Perhaps for clarity...
1. a) The government is contemplating introducing one of two alternative taxes: a tax on commodity...
1. a) The government is contemplating introducing one of two alternative taxes: a tax on commodity x (that would double the price of x, expressed in terms of the numeraire good, y) and a lump sum tax. Assume that the government knows the preferences (i.e., the indifference mapy of a representative taxpayer and his/her indifference curves have the usual convex shape. Suppose that government could predict how much tax revenue it could raise if it introduced the commodity tax. With...
Cultural and personal expectations influence what is appropriate in any given situation. The best use of...
Cultural and personal expectations influence what is appropriate in any given situation. The best use of your time is to master a series of key behaviors that work well in every setting It’s never appropriate to laugh when a patient makes a joke about his or her condition Ignore what others are saying 1 points QUESTION 39 All of the following are important to our definition of communication EXCEPT: personal goals shared meaning autonomy sensitivity 1 points QUESTION...
Please help! B. Describe what happens at a point on the surface of the water where:...
Please help!
B. Describe what happens at a point on the surface of the water where: • a crest meets a crest . . a trough meets a trough a crest meets a trough For each of the above cases, describe how your answer would differ if the amplitudes of the two waves were not equal. Explain your reasoning. If the waves from two identical sources travel different distances to reach a particular point, the amplitudes of the waves from...
ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The...
ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The production possibilities frontier is a graph that shows the various combinations of output that an economy a. should produce. b. wants to produce. c. can produce d. demands 2 The price index was 320 in one year and 360 in the next year. What was the inflation rate? a. 9 percent ((B-A)/A)*100 b. 11.1 percent c. 12.5 percent ((360 - 320)/320)*100 d. 40 percent...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect forecasts of consumer demand. c. externalities and foreign competition. d. incorrect forecasts of consumer demand and foreign competition. 16. Which of these consumption activities will most likely impose an external cost? a. An executive plays a vigorous game of golf. b. A student in a dorm plays her CDs at 120 decibels late at night. A young mother exercises to anaerobics video A construction...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
Please answer and explain the steps involved in each.
20. The rate of product transformation refers to a. how a consumer can trade one good for another while still maximizing his or her utility. b. how a firm can substitute one input for another and still maintain the same production level. c. how production of one good can be substituted for another while still using a fixed supply of inputs efficiently. d. how quickly a firm can produce a final...
12. A market is said to be in equilibrium when: A Quantity demanded equals quantity supplied B. Production costs equal revenues from sale of the output C. The number of sellers equals the number of buyers D. People's needs are fully met 13. At the equilibrium prices: A. There are shortages but no surpluses B. There are surpluses but no shortages C. The economic problem of scarcity is no longer relevant D. There are no shortages or surpluses 14. An...
please answer all the following
Lesson 1.4-Specialization and Trade Tony can produce any of the following combinations of goods X and Y (a) 100 X and O Y, (b) 50 X and 25 Y, and (c) OX and 50 Y. Darlene can produce any of the following combinations of goods X and Y (a) 50 X and O Y, (b) 25 X and 40 Y, and (c) O X and 80 Y. Who has the comparative advantage in the production...
Q1) Answer all Multiple Choice questions.i) Newton’s 1st law is:A. PHYSICALLY INDEPENDENT of the other two laws
of motion and CANNOT be dispensed with as an axiom
of Newtonian physics.B. PHYSICALLY INDEPENDENT of the other two laws
of motion, but nonetheless it CAN be dispensed
with as an axiom of Newtonian physics.C. Actually a SPECIAL CASE of the 2ND LAW. The
case when the net force is zero. Therefore, logically we need only
two laws of motion. Perhaps for clarity...
1. a) The government is contemplating introducing one of two alternative taxes: a tax on commodity x (that would double the price of x, expressed in terms of the numeraire good, y) and a lump sum tax. Assume that the government knows the preferences (i.e., the indifference mapy of a representative taxpayer and his/her indifference curves have the usual convex shape. Suppose that government could predict how much tax revenue it could raise if it introduced the commodity tax. With...
Please help!
B. Describe what happens at a point on the surface of the water where: • a crest meets a crest . . a trough meets a trough a crest meets a trough For each of the above cases, describe how your answer would differ if the amplitudes of the two waves were not equal. Explain your reasoning. If the waves from two identical sources travel different distances to reach a particular point, the amplitudes of the waves from...
ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The production possibilities frontier is a graph that shows the various combinations of output that an economy a. should produce. b. wants to produce. c. can produce d. demands 2 The price index was 320 in one year and 360 in the next year. What was the inflation rate? a. 9 percent ((B-A)/A)*100 b. 11.1 percent c. 12.5 percent ((360 - 320)/320)*100 d. 40 percent...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect forecasts of consumer demand. c. externalities and foreign competition. d. incorrect forecasts of consumer demand and foreign competition. 16. Which of these consumption activities will most likely impose an external cost? a. An executive plays a vigorous game of golf. b. A student in a dorm plays her CDs at 120 decibels late at night. A young mother exercises to anaerobics video A construction...
Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...
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