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Qd=250-20p and
the supply Curve is:
where Qd is the quantity demand , Qs is the quantity supplied and P is the Price.
(1) Derive and Graph the demand Schedule
(2) Derive and Graph Supply Schedule as well?
Suppose the depreciation rate of capital decreased at time t* permanently. How would this affect real wage rate, real rental rate, real interest rate and price level in long run and very-long run in a closed market economy?
a product. In that economy, suppose payment technology is instant in the purchase of coffee, but the money transfer takes x days in the purchase of apples and 2x days in the purchase of tea where x ≥ 1. Assume
price level is Po. Then, what is the nominal money demand and real money demand in the economy?
Suppose individuals spend MPC ∗ x fraction of their disposable income on electricity consumption and MPC ∗ (1 − x) fraction on apples consumption where 0 < x < 1. Electricity is only produced by foreign producers who sell one unit of electricity in return for one apple. With new advances in solar panel technology, the price of electricity decreased by half at time t∗ permanently. How would this affect net exports, consumption of apples and electricity, investment, real exchange rate, nominal exchange rate and price level in long run and very-long run?
Rohan is appointed an economics’professor in a reputed university. In his first lecture, students asked him to elaborate on Gross Domestic Product (GDP) and Gross National Product(GNP). Help Rohan to prepare his first lecture on the given topic with relevant example and highlight the differences between the two concepts
a.
Special interests engaged in rent-seeking behaviour.
b.
There is a principal-agent problem.
c.
Private enterprise wouldn’t have provided the free service.
d.
There is regulatory capture.
In the Fall of 2015, Iranian GDP declined. What was the most important factor?
a.
Iranian consumers organized on social media to boycott buying domestically produced cars.
b.
Iran signed a free-trade deal with Russia.
c.
Economic sanctions were to be lifted starting in 2016 after Iran agreed not to produce nukes.
d.
The price of oil fell.
#339914 on Dec 2023