Homework Help for Economics

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Economics deals with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices about how to allocate resources.

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OC user

in Economics·

16 Mar 2019

Joe is a student at Great Big University. His tuition is $10,000 a year. He spends $2,300 per year on books and $500 per year on university fees. He would be able to earn $15,000 by working if he were not in school, but he can only work part-time while in school, so his earning are only $8,000. What are Joe's total costs for a year of college? Did you include Joe's room and board? Why or why not?

1 answered

Answer

OC user

in Economics·

17 Mar 2019

The tragedy of the commons

leads to underutilized resources.

occurs when club goods are produced.

occurs when public goods are provided.

gives rise to a positive externality.

gives rise to a negative externality.

When people move to an area of the world that was previously unpopulated, we expect more consumers and more producers to spring up in that area. What would we expect to happen to the price and quantity in the markets where this happens?

The equilibrium price will be indeterminate and equilibrium quantity will go up.

The equilibrium price will be indeterminate and equilibrium quantity will go down.

The equilibrium price will go up and the equilibrium quantity will go up.

The equilibrium price will go down and equilibrium quantity will be indeterminate.

The equilibrium price will go up and equilibrium quantity will be indeterminate.

When Noelle received a promotion at work, her income rose by 50 percent. The income elasticity of demand for steak was found to be 1.5. For her, steak is a(n)

necessity.

luxury.

substitute for chicken.

complement to potatoes.

inferior good.

2 answered

Answer

peachkangaroo256

Lv1

in Economics·

22 Feb 2021

The multiplier, or the change in equilibrium GDP that will occur per any change in spending, can be determined by calculating the fraction of any change in income that survives all of the leakages and goes on to start the next round of spending. That is, the multiplier depends upon the fraction of any change in income that becomes...

		the change in exports
		the change in savings
		the change in imports
		the change in domestic consumer spending
		the change in disposable income
		the change in business investment spending

1 answered

Answer

OC user

in Economics·

16 Mar 2019

Explain whether each of the following statements describes a change in demand or a change in quantity demanded, and specify whether each change represents an increase or a decrease. After an article is published asserting that eating kale causes hair loss, sales of kale drop by 75 percent.

A. The demand for kale increases.

B. The quantity demanded of kale increases.

C. The demand for kale decreases.

D. The quantity demanded of kale decreases.

Answer

OC user

in Economics·

16 Mar 2019

suppose there is a $200 billion recessionary gap. If there are no taxes or imports to restore the economy back to potential GDP how much should government expenditure be changed if the marginal propensity to consume is 0.75? Does government expenditure need to be increased or decreased.

Answer

OC user

in Economics·

17 Mar 2019

. A new inventory management system for ABC Company could be developed at a cost of
$260,000.The estimated netoperatingcosts and estimated netbeneï¬ts over sixyears ofoperation
would be:
Year Estimated Net
Operating Costs Estimated Net
Beneï¬ts
0 $260,000 $0
1 7,000 42,000
2 9,400 78,000
3 11,000 82,000
4 14,000 115,000
5 15,000 120,000
6 25,000 140,000
a. What would the payback period be for this investment? Would it be a good or bad
investment? Why?

b. What is the ROI for this investment?
c. Assuming a 15% discount rate, what is this investmentâs NPV?

1 answered

Answer

OC user

in Economics·

15 Mar 2019

If the image with the question disappears, visit this link to view: http://answers.yahoo.com/question/index?qid=20131014204617AAyK5hs

I would appreciate it if work was shown and most parts answered (I probably won't give best answer to just one or two parts). I can extend time limit if it's running low. Thanks

1 answered

Answer

OC user

in Economics·

18 Mar 2019

What are the main reasons for the existence of financial intermediaries? Define asymmetric information. What is the Asymmetric information problem of lending? Discuss the adverse selection and moral hazard problems of lending.

1 answered

Answer

OC user

in Economics·

16 Mar 2019

Read the article:

http://courses.aplia.com/problemsetassets/macro/romer_market_for_foreign_exchange/article.html

According to the article, the yen approached the level of 115 yen to the dollar before the Bank of Japan apparently intervened. The headline says that the yen weakened sharply after the intervention. What was the exchange rate after this intervention?

A. About 112 yen to the dollar

B. About 118 yen to the dollar

C. About 117 yen to the dollar

D. About 110 yen to the dollar

Answer

OC user

in Economics·

14 Mar 2019

self-sufficiency argument.

Answer

magentahornet840

Lv1

in Economics·

24 Mar 2021

In the short run, a firm that produces and sells cell phones can adjust:

a. how many workers to hire

b. the size of its factories

c. where to produce along its long run average total cost curve

d. All of the above

1 answered

Answer

OC user

in Economics·

17 Mar 2019

TRUE/FALSE

1) The classical Model makes assumptions about the economy that make sense in the short run, but not the long run. (T/F)

2) A leftward shift in the labor demand curve would occur if fewer people wanted to work at any given wage/ (T/F)

3) During a recession, firms typically operate at below-normal rates of labor utilization. (T/F)

4) According to the classical view, the economy needs the government's help in achieving full employment (T/F)

5) Net taxes are equal to the government's total tax revenue minus government transfer payments. (T/F)

6) In the classical model, an increase in government spending - with no other change - will shift the total demand for funds curve rightward. (T/F)

7) Investment spending and government purchases play the role of injections. (T/F)

8) The classical model takes a short-run view of the economy, while the Keynesian model takes a more long-run view. (T/F)

9) The aggregate production function tells us how much output can be produced with different amounts of capital and land, and a fixed amount of labor. (T/F)

3 answered

Answer

OC user

in Economics·

16 Mar 2019

17. Expansionary fiscal policy tends to:

a. lower us income, reduce us imports, and lower the trade deficit

b.lower us income, reduce us imports, and increase the trade deficit

c. raise us income, increase us imports, and lower the trade deficit

d. rasie us income, increase us imports, and increase the trade deficit.

18. When a country runs a trade deficit, it does so by:

a. lending to foreign countries or buying assets from them

b. borrowing from foreign countries or selling assets to them

c. lending to foreign countries or selling assets to them

d. borrowing from foreign countries or buying assets from them

1 answered

Answer

OC user

in Economics·

15 Mar 2019

1. Suppose you are the manager of a California winery. How wouldyou expect the following events to affect the demand and/or thequantity demanded for your product? Briefly explain
a. A number of new wineries open in California.
b. The price of a comparable bottle of French wine increases.
c. The price of cheese rises.
d. The price of a glass bottle rises.
f. Consumer incomes fall.
g. The price of wine vinegar, which is made from the leftover grapemash, increases.

1 answered

Answer

redrhinoceros604

Lv1

in Economics·

20 Feb 2021

In general, a tax raises the price the buyers pay, lowers the price the sellers receive, and reduces the quantity sold. Is this true or false?

1 answered

Answer

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