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Given two goods named Omega & Alpha, with Omega along the vertical axis, and Alpha on the
horizontal. Assume that the budget is constant at 100 pesos, the price of good Omega is fixed at 5
pesos. The Price of Alpha changes from 1 peso to 2 pesos. What is the MRS after the price
increase in Alpha?
with the use of examples, whether a government should directly provide certain
goods and services in an economy
Indicate which type of market can be characterized by the following features:
___________a. consumer choice of products
___________b. need for advertising
___________c. extraordinary profit even in the long-run
___________d. firm determine his own price
___________e. use of non-price competition
___________f. easy entry into the market
___________g. product sold maybe homogeneous or differentiated
___________i. firm has little power to control price
34. In the final phase of benefit-cost analysis, one of the steps that is generally conducted is
A. to compare time-adjusted benefits to zero
B. to compare time-adjusted costs to unity
C. to determine if PVB and PVC are inversely related
D. to determine if an option is feasible
1. If it is not possible to prevent others from sharing in the benefits of a good's consumption, we say that the good
A. is an economic bad
B. is non-rival in consumption
C. has the characteristic of no-excludability
D. is a private good
1. Theoretically, the market demand for a public good is found by
A. vertically adding the MEC and MPC functions
B. overcoming free-ridership and vertically summing the price responses for each quantity
C. adding horizontally the marginal benefits received by each consumer at every price level
D. summing the quantities each person is willing and able to buy at each and every price
Recycling efforts such as those exemplified by BMW's Design for Disassembly (DFD) program
A. permanently diminish the flow of residuals back to nature
B. are not represented in the materials balance model
C. represent short-term conversion of residuals into recycled materials or goods
D. reduce the amount of wastes returned to nature in the long-run
Suppose the relationship between the government's tax revenue (T) and national income (Y) is represented by the equation T=35+0.5Y. Plot this relationship on a scale diagram, with Y on the horizontal axis and T on the vertical axis. Interpret the equation.
Use the line drawing tool to draw the equation. Make sure to plot the vertical axis as one endpoint of the line. Properly label this line.
Carefully follow the instructions above, and only draw the required objects.
Can you show me how to graph this, please?
As announced in the 2021-2022 National Budget, the Fijian Government is supporting formal and informal sector employees on Viti Levu who are affected by the pandemic through monthly payments of $120 for a period of six months (August 2021 – January 2022). The Fiji Sun dated 23rd August, 2021 reports “Attorney-General and Minister for Economy yesterday tweeted that: “Days ahead of schedule, we have met the once-in-a-century COVID-19 crisis with one of the largest assistance payouts in history. $72m was paid in unemployment benefits to 200,000 Fijians. In the coming days, we’ll reach 60,000 more bringing the total payout to around $94m.”
As an economist you are trying to assess this COVID-19 benefit scheme.
1. Environmental economics
A. is concerned mainly with the residual flow from economic activity back to nature
B. focuses on the flow of resources from nature to economic activity
C. recognizes that the flow of residuals back to nature is preventable
D. focuses on fossils and organism markets
2. Recycling efforts such as those exemplified by BMW's Design for Disassembly (DFD) program
A. permanently diminish the flow of residuals back to nature
B. are not represented in the materials balance model
C. represent short-term conversion of residuals into recycled materials or goods
D. reduce the amount of wastes returned to nature in the long-run
#340153 on Dec 2023