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Economics

Suppose a country’s population grows at a rate of 2% per year
and its output grows at a rate of 3% per year.
a. Calculate its rate of growth of per capita output.
b. If instead its population grows at 3% per year and its output
grows at 2% per year,

Answered
22 May
Economics
If the cross-price elasticity between goods x and y is greater than zero then goods x and y are:
 
a. substitutes
 
b. luxuries
 
c. complements
 
d. inferior goods
Answered
22 May
Economics

The price at which the quantity demanded equals the quantity supplied is the equilibrium price because​___.

Answered
22 May
Economics

If the technological change increases structural unemployment, why do most governments and economists encourage such change? Prepare a 2-page paper on this topic. Cite references to material that you use in preparing the essay.

Answered
22 May
Economics

The complete disintegration of OPEC, causing oil prices to fall by one-half affects aggregate demand and aggregate supply. Explain how

Answered
22 May
Economics

A bank's ______________is the proportion of its deposits held in the form of currency.

Select one:

a. required reserve ratio

b. desired reserve ratio

c. secondary reserves

d. buffer stock reserves

Answered
20 May
Economics
If individuals A and B can both produce only goods X and Y, and A does not have a comparative advantage in the production of either X or Y, then we know
Select one:
Answered
20 May
Economics

When inflation begins to climb to unacceptable levels in the economy, the government should

a) use contractionary fiscal policy to shift aggregate demand to the right.

b) use expansionary fiscal policy to shift aggregate demand to the right.

c) use expansionary fiscal policy to shift aggregate demand to the left.

d) use contractionary fiscal policy to shift aggregate demand to the left.

 

Answered
18 May
Economics

An inflationary gap exists of $20 billion. The SM = 4. How much must Government Spending DECREASE by?

Answered
15 May
Economics

I am having trouble solving Q3 and Q4. I would really appreciate if i could get help in solving them

Answered
13 May
Economics

What are the major barriers to entry that explain the existence of a monopoly?

Answered
11 May
Economics

Leandro has 16 hours per day that he can allocate to work or leisure. His job pays a wage rate of $20. Leandro decides to consume 8 hours of leisure. His indifference curves have the usual shape: they slope downward, they do not cross, and they have the characteristic convex shape. Draw Leandro's time allocation budget line for a typical day, with income on the vertical axis and hours of leisure on the horizontal axis. Leandro's decision to work less as the wage rate falls is the result of a substitution effect and an income effect. In your diagram, show the income effect and the substitution effect from this reduced wage rate. Which effect is stronger?

Answered
5 May 2020
Economics

Suppose that an increase in the supply of blank CDs causes an 8% decrease in the price of blank CDs, and a 2% increase in the quantity of blank CDs purchased. It follows that

Answered
4 May 2020
Economics

(1 point) “The total sum of squares is always at least as large as the explained sum of squares.”

True

False

Insufficient information provided to answer

Answered
30 Apr 2020
Economics

“If the sample average of the explanatory variable is zero – that is, x with a bar on top space equals space 0, then the OLS intercept estimate is simply the average of the dependent variable.”

True or False

Answered
30 Apr 2020
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