Homework Answers
Suppose that an economy's labor became more productive between year 1 and year 2. We could conclude that this economy's production possibilities frontier shifted outward. Hence, option(D) is correct.
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Suppose that an economy's labor became more productive between year 1 and year 2. We could...
no explenation needed: Q1. If an economist wants to quickly assess the standards of living in...
no explenation needed: Q1. If an economist wants to quickly assess the standards of living in a nation, which one from the list below would be the best measure? A. Growth of nominal GDP. B. Growth of real GDP. C, Growth of national resources discoveries over last fifty years. D. Growth of real GDP per capita. Q2. In order to estimate the number of years required for real GDP to increase two-fold we need to: A. add 14 to annual...
I. Multiple Choice: Choose the alternative that best completes the statement or answers the question. 1....
I. Multiple Choice: Choose the alternative that best completes the statement or answers the question. 1. Production possibilities frontiers are typically concave (bowed out) from the origin because of the law of supply b. a. there is usually a one-for-one trade-off in resources used in production economies of scale enable firms to reduce the average costs of production as output rises d. c. the opportunity cost of a good rises as the quantity of the good produced increases e. resources...
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...
1) Which of the following is an example of a measure of labor productivity
1) Which of the following is an example of a measure of labor productivity?a. Autos get 30 gallons to the mile.b. The growth rate of per capita real GDP is 3.5 percent per year.c. Farm workers produce 30 bushels of wheat per worker per day.d. Wages increase by 3.5 percent per year for 5 years.2) Labor productivity increases whena. the unemployment rate decreases.b. the average output produced per worker during a specified time period decreases.c. the average number of hours...
1. Which of the following would be considered more closely related to macroeconomics? A) a firm...
1. Which of the following would be considered more closely related to macroeconomics? A) a firm deciding how many workers to hire. B) a household deciding how much to spend on groceries. C) a government economist forecasting the unemployment rate. D) a business trying to decide how much outuput to produce. - 2. Which of the following is an example of using the scientific method with a natural experiment? A) Measuring how long it takes a marble to fall from...
10.000 Questions 1 and 2 consider the following data, containing the quantities produced of final goods and the re...
10.000 Questions 1 and 2 consider the following data, containing the quantities produced of final goods and the respect prices for Orangeland. Using the data below, fill up all the empty cells. Use 2 decimals in your calculations. Quantity of oranges Quantity of computers 2018 100 40 2019 110 40 % Chg. 10.00 0 Price of oranges Price of computers 20 10 100 12 90 Nominal GDP Constant-price GDP in 2019 prices Deflator (based on 2019 prices) Based on your...
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1....
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1. A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the production function. Suppose the economy's production function is Y- 75x N xK, where K- 1000 and N 20, what happens if both inputs K and N are tripled? a. Y doubles. b. Y triples. c. Y quadruples d. Y is unchanged. 2. An adverse supply shock...
2. Production Possibilities: (a) Suppose an economy produces food and housing. Draw and explain the char-...
2. Production Possibilities: (a) Suppose an economy produces food and housing. Draw and explain the char- acteristics of its production possibility curve. Explain the impact of (i) a new technology that improves food production and (ii) a new invention that improves both food and housing production. (b) Explain how improvements in education may shift an economy's production pos- sibility frontier. (c) Consider the following three uses of government spending: the purchase of a nu- clear weapon, a “hot meals" program...
I need help with all these l T-Mobile Wi-Fi 12:38 PM 69% くBack Homework 1.pdfa で...
I
need help with all these
l T-Mobile Wi-Fi 12:38 PM 69% くBack Homework 1.pdfa で Name and Dot Number Multiple Choice Questions 1. Which of the following is not considered an economic resource? A. Real estate B. A personal relationship C. Cash D. These are all examples of a resource. 2. Which of the following economic decisions would most likely be studied by a macroeconomist? A. Domino's Pizza decides to provide quantity discounts in order to increase revenue B....
I need help 8:38 AM Fri Jan 25 95% KHomework1 Homework 1.pdf Short Answer Questions I....
I
need help
8:38 AM Fri Jan 25 95% KHomework1 Homework 1.pdf Short Answer Questions I. Consider an economy that produces Military goods and Consumer goods, the PPF and the case that more recourses become available are given by the graph below. You are asked to identify how the followings affect the PPF. In order to get full mark, you have to figure out both the moving section (military goods section or consumer goods section) and the direction (outward or...
I. Multiple Choice: Choose the alternative that best completes the statement or answers the question. 1. Production possibilities frontiers are typically concave (bowed out) from the origin because of the law of supply b. a. there is usually a one-for-one trade-off in resources used in production economies of scale enable firms to reduce the average costs of production as output rises d. c. the opportunity cost of a good rises as the quantity of the good produced increases e. resources...
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...
10.000 Questions 1 and 2 consider the following data, containing the quantities produced of final goods and the respect prices for Orangeland. Using the data below, fill up all the empty cells. Use 2 decimals in your calculations. Quantity of oranges Quantity of computers 2018 100 40 2019 110 40 % Chg. 10.00 0 Price of oranges Price of computers 20 10 100 12 90 Nominal GDP Constant-price GDP in 2019 prices Deflator (based on 2019 prices) Based on your...
Name: e xemSon Port I: 30 Multiple Choice Questions (One point for each correct answer) 1. A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the production function. Suppose the economy's production function is Y- 75x N xK, where K- 1000 and N 20, what happens if both inputs K and N are tripled? a. Y doubles. b. Y triples. c. Y quadruples d. Y is unchanged. 2. An adverse supply shock...
2. Production Possibilities: (a) Suppose an economy produces food and housing. Draw and explain the char- acteristics of its production possibility curve. Explain the impact of (i) a new technology that improves food production and (ii) a new invention that improves both food and housing production. (b) Explain how improvements in education may shift an economy's production pos- sibility frontier. (c) Consider the following three uses of government spending: the purchase of a nu- clear weapon, a “hot meals" program...
I
need help with all these
l T-Mobile Wi-Fi 12:38 PM 69% くBack Homework 1.pdfa で Name and Dot Number Multiple Choice Questions 1. Which of the following is not considered an economic resource? A. Real estate B. A personal relationship C. Cash D. These are all examples of a resource. 2. Which of the following economic decisions would most likely be studied by a macroeconomist? A. Domino's Pizza decides to provide quantity discounts in order to increase revenue B....
I
need help
8:38 AM Fri Jan 25 95% KHomework1 Homework 1.pdf Short Answer Questions I. Consider an economy that produces Military goods and Consumer goods, the PPF and the case that more recourses become available are given by the graph below. You are asked to identify how the followings affect the PPF. In order to get full mark, you have to figure out both the moving section (military goods section or consumer goods section) and the direction (outward or...
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