Economics Answers

If utility function is given by U(C,L) = (C-350).(L-10) calculate reservation
wage if total leisure hours is 110 and income without work is $500. (Where C
= consumption, and L = leisure)

The President of Lisavia (a small country) wants to increase productivity in his country. He has recently become aware of an economic principle that suggests that as a nation's productivity rises, its income will rise and therefore its standard of living will also rise. You have just been appointed as the economic advisor for Lisavia. Discuss three economic policies you might advise the President to pursue in order for his country to achieve this increased standard of living.

America decides to use income approach to calculate GDP with the following: compensation of employees $4000 proprietors income $1500, corporate profit $1200, rental income $440, net interest $150,and has earnings of foreigners in America $50,earnings of citizens from America in foreign country $50, depreciation $40, subsidies $40 and indirect business taxes $30
Calculate the following
a national income
b GDP at market price
c GNP at factor price
d NDP at market price

Suppose that domestic supply and demand for steelis given by the equations below, and the world price of steelis PWorld= $100. Demand: P = 400 –2QSupply: P = 40 + 4Qa.Graph domestic supply and demand.b.Solvefor the equilibrium price and quantity if the economy is closed to trade.c.If the country opens to trade, will it import or export steel? How much?d.Calculate the increase in total surplus (gains from trade) that will result from international trade in steel. e.In the domestic market, which group will likely be opposed to international trade? W

A manufacturing company is examining a proposed project to increase productivity. This project involves buying a machine that will have a cost of $32561 and will have a useful life of 7 years. At the end of the machine's useful life, the company expects to sell it for $2,500. The annual benefits are going to be $22,000 for the first year but will increase by $700 each year until the machine is no longer useful. The estimated operating and maintenance costs are going to be $12,600 for the first year but will increase by $1,000 each year after that. The analysis will use an interest rate of 8%. Calculate this project's net present value or net present worth.

WHAT TYPE OF FIRM IS A CARTEL?

Describe the term change in inventories

Education and trained workers tend to be more productive in any working environment explain what productivity means

Trial balance include
Capital
Motor vehicles
Bank overdraft
Sales
Sales returns
Discount received
Discount allowed
Fixed deposit
Interest on fixed deposit
Repairs
Loan
Interest on loan
Purchases
Railage on purchases
Insurance
Drawings
Debtor
Creditor
Using any amout...please show what is debited and credited

Briefly list and elaborate on the factors that will be affecting the supply of the following
products in the next several years. Do you think these factors will cause the supply to in-
crease or decrease?
a. Crude oil
b. Beef
c. Computer memory chips
d. Hotel rooms
e. Fast food outlets in emerging markets
f. Credit cards issued by financial institutions
g. Laptop computers
h. PC servers