Economics Answers

Providing relevant data, describe the trends in inflation, the current account as a percentage of GDP, the unemployment rate, and the GDP growth rate in the USA during the period 2009-2018.

there are two goods, X and Y. the absolute price of X rises and the absolute price of Y does not change. Prove that the relative price of X rises in terms of y

Tax cuts in the US cause and increase in the price levels relative to the price in Canada.
a. draw side by side model showing changes
b. explain the effect on the currencies
c. explain the effect on US net exports based on the changes in the foreign exchange market

Value of Money Multiplier ..................with an increase in Cash Reserve Ratio?

Answer the question and show your reasoning. HINT: use your understanding of opportunity costs as an aide in answering each question.

1. Using the data in the book, suppose now that Gilligan takes only half an hour to pick a cup of berries and 15 minutes catch a fish. Who has a comparative advantage in berry picking? Who has a comparative advantage in catching fish?



2. Suppose Gilligan and Maryanne had not yet met. Each spent 6 hours a day picking berries and 6 hours per day catching fish. Using the book example, how much fish and how many cups of berries would they produce? What is the result after they meet and specialize according to comparative advantage?

Contribution of business to the economic development of Nigeria

Given utility function U= X0.5Y0.5 where Px= 12 Birr, Bir, Py=4 Birr and the income of
the consumer is, M= 240 Birr.
A. Find the utility maximizing combinations of X and Y.
D. Calculate marginal rate of substitution of X for Y (MRSX.Y) at equilibrium and inierpiet
your result.

1. A person has $ 100 to spend on two goods X and Y whose respective prices are $3 and $5.

A. Draw the budget line.
B. What happens to the original budget line if the budget falls by 25%?

C. What happens to the original budget line if the price of X doubles?
D. What happens to the original budget line if the price of Y falls to $4?
2. A rational consumer spends all of her income on two goods: Apple and Banana. Suppose
the last dollar spent on Apple increased her total utility from 60 utils to 68 utils and the last
dollar spent on Banana increased her total utility from 25 utils to 29 utils. If the price of a
unit of Apple is 2 Bir, what is the price of a unit of Banana at equilibrium?

A deficit on the balance on current account will impose severe constraints upon domestic economic policies.explain and illustrate this

The 2015 Champions League final (Juventus-Barcelona) was played at the Olympiastadion in Berlin, Germany. Air tickets from Turin (Juventus home city) to Berlin range in price from about $75 to about $350. Air tickets from Vancouver to Berlin range in price from about $1,000 to about $1,500. Tickets to the game cost from about €70 for a category 4 ticket (the “worst” seats) to about €600 for a category 1 ticket (the “best” seats). Would you expect tifosi from Vancouver more likely to buy the category 1 tickets than their relatives from Turin or less likely? Explain why.