Economics Answers

True/False . Why?
Suppose the country of Macecon produces only two final goods, Theorems (Ts) and Lemmas (Ls). In 2018 it produced 10 Ts at a price of $50 and 50 Ls at a price of $10. In 2019 It produced 9 Ts at a price of $60 and 60 Ls at a price of $11. Using 2018 as the base year, the inflation rate in the GDP deflator between 2018 and 2019 was 5%.

A business uses a perpetual system in the first in first out method. The business has the following transactions; Colon inventory on July 1, 2019 consist of 10 units at $12 per unit. Purchase 20 units for $15 per unit on account on July 2, 2019. Sell 15 units for $20 per unit to a customer on account on July 10, 2019. Prepare the entry the business should make to record the sale on July 10, 2019.

Define opportunity cost. What is the opportunity cost to you of attending college? What was your opportunity cost of coming to class today?

One tradeoff society faces is between efficiency and equality. Define each term if t u.s. government redistributes income from the rich to the poor , explain how this action affects equality as well as efficiency in the economy.

In a large economy such as ours, it is impossible to simply count how many times each dollar changes hands (velocity). How do we calculate V?

Discuss why organizations prefer Linux OS over windows?

Supose the.market for grass seed can be expressed as,follow as demand 100-2p,supply 3p at the equilibriium ,calculate the price elasticities of supply and demand ?what would happen with quantity demand if the price reach 30 and price reach to 50?

Assuming that South Africa economy experience a high level of inflation. The SARB makes use of monetary policy to decrease the inflation rate.
a. Mention one of the instruments of monetary policy and describe how the SARB will manipulate it.
b. Explain by the use of graphs, the impact of such monetary policy on aggregate output. In your explanation, describe the interaction between the Money market, IS-LM and AD-AS Model.

Assuming that the government decides to address the low level of production and employment caused by COVID-19 by cutting down taxes (personal income and corporate taxes).
Explain by the use of graphs, the impact of such fiscal policy on aggregate output. In your explanation, describe the interaction between the Money market, IS-LM and AD-AS Model

Assuming that South Africa economy is over heated (a period of very high level of inflation and production). The government decides to slow down the economy by decreasing public expenditures.
Explain by the use of graphs, the impact of such fiscal policy on aggregate output. In your explanation, describe the interaction between the Money market, IS-LM and AD-AS Model.