Macroeconomics Answers

How can the economic perspective help us understand the behavior of fast-food consumers? Explain several insights it provides about customer behavior.

The data processing cycle – data input, processing, storage, and output – was introduced in this chapter. In the future, do you see any of these activities being deleted or additional activities being added? If so, what changes do you foresee? Do you foresee any changes to the way these four activities are implemented or handled? If so, how? If not, why no changes? Write 100 words for the answer.

ERP systems have many disadvantages, such as being complex, very expensive, and difficult to implement. However, they have powerful advantages, such as better customer service, more integrated operations, and access to all or most of an organization’s data. If you were asked to determine if your company should implement an ERP system, how would you determine whether the benefits of a new system outweigh its disadvantages? Write 100 words for the answer.

1. You are trying to decide whether to take a vacation. Most of the costs of the vacation (airfare, hotel, and forgone wages) are measured in dollars, but the benefits of the vacation are psychological. How can you compare the benefits to the costs?

Assume an economy where money demand varies directly with real income and inversely with nominal interest rate. What will happen to the price level in the economy today, if the central bank announces that it will decrease the money growth rate in the future while keeping the money supply unchanged?

When we first learned abut the coronavirus it was very difficult to find face mask to protect yourself .some people ordered mask from China and tried to sell at very high prices but the government declared this illegal price gouging and confiscated masks from these sellers and find them .Do you think the law against price gouging was good Government policy why or why not?

Suppose the government passe a law to keep price above the $16 .

*How many units of this good will be bought and sold .?

*Calculate the value to consumers at this quantity?

* Calculate the consumers surplus at this quantity ?

* Calculate the cost of producing this quantity ?

* Calculate the producer surplus at this quantity ?

* Calculate the change in consumer surplus caused by this price floor ?

*Calculate the changenin producer surplus caused by this price floor?

* Calculate the dead weight loss caused by this price floor ?

Demand curve- Price per unit-3,5,7,9,11etc

Quantity demand - 81 ,71,61,51,41etc

supply curve-Price per unit - 5,8,11,14,17etc

Quantity supplied - 7,16,25,34,43etc

*Use the above demand and supply curves .

What is the equilibrium price and quality ?

*Calculate the value to consumers at equilibrium ?

*Calculate the consumers surplus at equilibrium ?

*Calculate the cost at equilibrium ?

*Calculate the producer surplus at equilibrium ?

*Calculate the total gains from trade at equilibrium?

Here is the more information about the market for onions in Vancouver .

Price per unit- 5,8,11,14,17etc

Quantity supplied-7,16,25,34,43etc

*Find the equation for the supply curve .

*What is the quality supplied when price =16?

* What is the cost of producing quantity supplied = 10 ?

Here is some information about the

market for onions in Vancouver.

price per unit - 3,5,7,9,11,etc

Quantity demand-81,71,61,51,41etc

Find the equation for the demand curve.

What is the quantity demand when price =8?

What is the value of what is produced when the quantity demand =21?

1.A high income country typically has a ...... Than a low income country .2. No person have everything he or she wants .......are invetiable.