Homework Answers
During the financial crisis of 2007-08, the aggregate demand was low, so the unemployment rate increased significantly.
The opportunity cost is the benefit of next best alternative. Students can take up the job instead of going to college. there were few jobs to go about when the economy was hit by the recession. thus Opportunity cost of going to college declined significantly. now it became relatively profitable to take up the college education.
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Q2: Canada experienced a recession in 2008 & 2009. Did this recession increase or decrease the...
The U.S. experienced a major recession in 2008 & 2009? What is likely to happen to...
The U.S. experienced a major recession in 2008 & 2009? What is likely to happen to the price level and real GDP in Canada (our biggest trade partner) as a result? Select one: a. The price level and real GDP will both increase b. The price level and real GDP will both decrease C. The price level will increase, but real GDP will decrease d. The price level will decrease, but real GDP will increase e. The U.S. economy does...
The 2008-2009 recession must have been a result of ________ because otherwise the combination of the...
The 2008-2009 recession must have been a result of ________ because otherwise the combination of the ________ cannot be explained. Question 29 options: a decrease in AD and an increase in AS; fall in the price level and the decrease in real GDP a decrease in AD and an increase in AS; rise in the price level and the decrease in real GDP an increase in AD and AS; rise in the price level and the decrease in real GDP...
2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c) Decrease,...
2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c) Decrease, increases d Increase, decreases which the recessionary gap 3) Suppose that the MPC is .75 and the U.S Federal Government reduces taxes by 10 million dollars. After 3 rounds of the multiplier process RGDP will change by a) 4.23 million b) 17.34 million c) 23.13 million dollars. d) 30 million 4) "George W. Bush's $152 billion tax rebate plan of 2008 was designed to...
just need the answer of question 4th Chan Applying Economic Concepts 1-1 (p. 6). The Opportunity...
just need the answer of question 4th
Chan Applying Economic Concepts 1-1 (p. 6). The Opportunity Cost of Your University Degree The opportunity cost of choosing one thing is that you would have received had vou taken that job what must be given up as the best alternative Computing Suppose your aller-tax) annual earnings would have the opportunity cost of a college or university education been $25 000 per year, for a total of 100 000 if you had is...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
SECTION A: 10 MULTIPLE CHOICE QUESTIONS - 10 MARKS Test 3 201901 Answer ALL questions. Record...
SECTION A: 10 MULTIPLE CHOICE QUESTIONS - 10 MARKS Test 3 201901 Answer ALL questions. Record your answers to the MCQ on the answer table provided at the end of this section: 1. What is the only thing which causes an INCREASE in Quantity Demanded Lower Prices B. Higher income levels C. Increased prices of substitutes D. Favourable change in tastes A 2. Use Marginal Analysis to determine the OPTIMAL number of SCHOOLS from the table below. No of SCHOOLS...
Percent Increase, Percent Decrease Solve the following problem Last season, a pair of jeans cost...
Percent Increase, Percent Decrease
Solve the following problem
Last season, a pair of jeans cost $42.95. This season, the
price of the jeans increased by 25 percent. Later in the season,
the jeans were put on sale for 25 percent off.
First, guess. What do you think the sale price will be?
Why?
Then, calculate:
How much did the jeans cost at the beginning of this
season?
What was their sale price?
Did you get the sale price you were...
The U.S. experienced a major recession in 2008 & 2009? What is likely to happen to the price level and real GDP in Canada (our biggest trade partner) as a result? Select one: a. The price level and real GDP will both increase b. The price level and real GDP will both decrease C. The price level will increase, but real GDP will decrease d. The price level will decrease, but real GDP will increase e. The U.S. economy does...
2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c) Decrease, increases d Increase, decreases which the recessionary gap 3) Suppose that the MPC is .75 and the U.S Federal Government reduces taxes by 10 million dollars. After 3 rounds of the multiplier process RGDP will change by a) 4.23 million b) 17.34 million c) 23.13 million dollars. d) 30 million 4) "George W. Bush's $152 billion tax rebate plan of 2008 was designed to...
just need the answer of question 4th
Chan Applying Economic Concepts 1-1 (p. 6). The Opportunity Cost of Your University Degree The opportunity cost of choosing one thing is that you would have received had vou taken that job what must be given up as the best alternative Computing Suppose your aller-tax) annual earnings would have the opportunity cost of a college or university education been $25 000 per year, for a total of 100 000 if you had is...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer ("price support" discount scheme). (a) Give an overview of the decision adopted by...
SECTION A: 10 MULTIPLE CHOICE QUESTIONS - 10 MARKS Test 3 201901 Answer ALL questions. Record your answers to the MCQ on the answer table provided at the end of this section: 1. What is the only thing which causes an INCREASE in Quantity Demanded Lower Prices B. Higher income levels C. Increased prices of substitutes D. Favourable change in tastes A 2. Use Marginal Analysis to determine the OPTIMAL number of SCHOOLS from the table below. No of SCHOOLS...
Percent Increase, Percent Decrease
Solve the following problem
Last season, a pair of jeans cost $42.95. This season, the
price of the jeans increased by 25 percent. Later in the season,
the jeans were put on sale for 25 percent off.
First, guess. What do you think the sale price will be?
Why?
Then, calculate:
How much did the jeans cost at the beginning of this
season?
What was their sale price?
Did you get the sale price you were...
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