which of the following is true regarding this economic model?

• 8 September 2023

The optimal interest rate for the Federal Reserve to target MACRO Make a chart of Gretel's schedule, with driving times and service times. For example, two economists chosen at random are most likely to agree that rent ceilings reduce the quantity and quality of available housing. Because the drought does not affect the number of construction vehicles South Africa can produce, you should have left the point at 180,000 construction vehicles per year. \text{Machine hours}\ldots\ldots\ldots & \text{200 MH} & \text{3,750 MH}\\ Given : keep. G = g0 +g1Y This PPF is not an economic model. Economics 101 CH 2 Q1.pdf - Back to Assignment Attempts: Shanna spends $40 to get a haircut.d. When Alyssa (a household) supplies her labor to any firm, labor is an input (a factor of production) that flows from a household to a firm. She buys the chocolate bar as she wants it more than the drink and the crisps. An economy consists of three workers: Larry, Moe,and Curly. D4001200 The fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless. Which of the following is true regarding this economic model? Now, suppose Jacques is currently using combination C, producing two trucks per day. B Therefore, microeconomists are more likely to create models to analyze the decisions of firms (such as pricing) and those of consumers (such as shopping choices), as well as how government policies affect those decisions. The incidence of the subsidy on the consumer will decrease. 6. B) because the technological advance occurred in the machine making industry increases and output can only occur in the machine industry. Kurt has worked hard on his assignments, but his performance is below expectations. A) It provides you an opportunity to acknowledge the assistance of a remote team member. (A)r All three spend all their time washing cars. Despite their differences, with which proposition are two economists chosen at random most likely to agree? The following diagram shows its current production possibilities frontier for alfalfa, an agricultural good, and construction vehicles, a capital good. BARLEY (Miions of busheis) How does your diagram illustrate i) choice ii) scarcity, Economics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with ________, the incentives that influence those choices, and the arrangements that coordinate them. Dinah's Diner pays Shen $325 per week to work as a short-order cook. Identify the correct sequence of step in the generation of an action potential. Provide examples to support your points. Which of the elements of this scenario represent a flow from a firm to a household? This PPF is not an economic model. Such a framework is based on values and cannot be confirmed or refuted by evidence. \text{Bottles} \ldots\ldots\ldots & \text{Units} & \text{\$77,000}\\ Because I don't. The following diagram presents a circular-flow model of a simple economy. Suppose Japan produces two types of goods: agricultural and capital. Exchange rates are set by governments and do not change often. Identify the articles that correctly complete the following sentence. In contrast, disagreement due to differences in values reflect differing assessments on fairness or equity. In this scenario, households sell factors of production in factor markets when Alyssa supplies her labor to Classy's Jewelry Store and when Tim supplies his labor to Pillmart Pharmacy. "What is the purpose of this? Click below link for Answer E2001600 Again, consider combination D, and consider the effects of moving from there to combination E. Both before and after Jacques buys the tool, he can produce 19 balls if he devotes 6 hours to producing them and 20 balls if he devotes 8 hours to producing them. an; an this economy always operates on its productions possibilities frontier. 4 In order to construct such a model, an economist would need real life data regarding countries that only produce two goods. Most questions about economics address the central banking system and financial economics. 18 Indeed, one survey that 93% of economists agree with this proposition. d. Less able to be fulfills The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists demonstrate key economic concepts. Try Another Version Continue For example, point A is inefficient because it is possible for Japan to produce at point F instead, where the economy is producing both more corn and more laptops. Therefore, the $250 is a payment that flows from a household to a firm. Positive statements may be false (for example, "You are the king of Spain"), and normative statements may reflect the value judgments of a large majority of people (for example, "It is wrong to kill innocent children"). Exchange rates are influenced by the market and subject to volatility. 45 PPF CARS (Miions), Which of the following is true regarding this economic model? Taxes PRODUCT. a. 1 Trade Surplus/Deficit 4. The fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless. POB 5.01 | Business Quiz - Quizizz A) Sandwich a pos B) It provides you an opportunity to share the latest company news with your remote team members. . A. For instance, when you look at the vertical axis, you see that if South Africa produces zero bushels of alfalfa, it can initially produce a maximum of 180,000 construction vehicles per year. The circular-flow diagram illustrates that, in marketsfor the factors of production,a. With the new tool, the same allocation of time results in two trucks and 19 balls, so (2, 19) is a point on his new PPF. The goal of a monopoly firm is to maximize profits. Which of the following statements regarding economic resources is true: answer choices . The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Most questions about economics address the. 24 The U.S. government has shut down a number of times in recent history. Additional data from its two production departments follow. 7. C a; an Unlimited The incidence of the, Which of the following is NOT included on a RACI? u do first? Explanation: PPF model the production possibility frontier states that two types of goods can be produced, at any given time of production, and for certain resources provided. For future development of the economy, sustainable growth is important Suppose Ana earns $750 per week working as work as a flight attendant for Flyaway Airlines. "What is the purpose of this? Chapter 2 Econ.docx - Which of the following is true The disagreement between these economists is most likely due to differences in scientific judgements. The fact that there are only two goods produced in this theoretical economy is a simplifying. This could be a flow of dollars, inputs, or outputs. A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms, A: Since you have asked multiple questions, we will solve the first question (3 sub parts) for you. Which of the following statements regarding economic growth is correct? b. b. Explain how a government shutdown will affect the variables in the national investment and savings identity. I need help with understanding this. 0 The output per worker increased resulting in more television sets being produced. You are meeting with your new remote team for the first time. By grouping all individuals into households and firms and all markets into markets for goods and, services and markets for factors of production, economists can model how dollars and resources flow, back and forth among agents in the economy. D What happens to this frontier if disease kills half of the economys cow population? 1 pizza , gh it was immature attempt at humor. Because of the improvement in soil quality, more bushels of barley can be produced on any given amount of land; however, there is no reason to think that the maximum amount of cars that can be produced would change. Those points or, A: In an economy, a statement is said to be a positive statement when it gives direct meaning and based, A: Production possibilities frontier shows different combinations of two goods that can be produced, A: The production possibility frontier (PPF) is a graph that shows the most significant number of, A: Production Possibility Frontier(PPF) is known as the locus of different possible combination of two, A: In Scenario C = 10 bananas and 80 apples are produced

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