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In elastic range of demand price and total expenditure on the good are
Using the demand function, 12-P, and the supply function, 9+0.5P, for coffee,
Determine the equilibrium price and quantity of coffee if Y=$55, ps=0.20, and pc=$5.
Draw the demand and supply curves and illustrate this equilibrium in a diagram.
QUESTION ONE (30 Marks)
Consider a closed economy that is characterized by the following equations:
Y = C + I + G
C = 900 + 0.5(Y − T)
I = 750 − 30r
T = 800
G = 1200
Md = Ms
Ms = 1500
Mt = 0.7Y
Msp = −80r
Where Y is the GDP, C is private consumption expenditure, I is the Investment expenditure, G
is government expenditure, T is tax revenues, Ms
is money supply, Mt
is transaction demand
for money, Msp is the speculative demand for money and r is the interest rate (in % points).
a) Derive (Md⁄P) the demand for real money balances equation (where P is the aggregate price level
evaluate the likelihood of uber making an economic profit in the long run?
The recent global development of Russia invading Ukraine has led to USA and European countries imposing sanctions on Russia. Given that Russia is a major player in OPEC, discuss the implication of this in South African economy.
Investigate the current economic statistics of each indicator used to measure each macroeconomic objective
Economic indicators used to measure each macro economics objective
State and explain three microfinance credit and savings principles
Consider the arguments for restricting trade.
a. Imagine that you are a lobbyist for timber, an
established industry suffering from low-priced foreign competition, and you are trying to get Congress to pass trade restrictions. Which two
or three of the five arguments discussed in the chapter do you think would be most persuasive to the average member of Congress? Explain your reasoning.
Do teachers have knowledge of basic principles of using methods of teaching economics? ii. Do student have negative or positive attitude towards the method of teaching adopted by their teachers? iii. Is there any significant different between methods of teaching and teacher qualification? iv. Is there any significant different between learning economics and teachers experience? v. What is the relationship between teacher’s methods of teaching economics and learner academic achievement
