Economics Answers

Harvey Smidlap, the named insured under a PAP (with all available coverage), was
injured while being driven to a Broadway play in a new York taxicab ( the cab was not
owned by Harvey and was insured only for liability). Harvey incurred medical expenses
due to his injury and he made a claim under Coverage B of his PAP. Which one of the
following statements is true about whether Harvey’s claim is valid?
a. It is, because the taxicab qualified as “your covered auto”
b. It is, because Harvey is the named insured and no exclusion applies
c. It is not, because of the public or livery exclusion
d. It is not, because Harvey was not occupying a covered car

4. Give examples of how Howard Schultz might perform the interpersonal roles, the informational roles, and the decisional roles.

Plss ans me about this question and plss tell me explanation. Q .If following are the demand and supply functions:Qd=200_50P,
Q's=40+30P
1)Find the equilibrium price and quantities
2)What will be the effect on equilibrium price and quantity if 5%tax is imposed on consumers and firms?

The demand function for product X is: Qd = 600 – 20Px + 0.02Y – 5Pr The supply function is: Qs = –300 + 10Px
Where:
Qd = the quantity of X demanded Qs = the quantity of X supplied Px = the price of product X Y = the average consumer income Pr = the price of the related product

Changes in the dollar-peso exchange
B) Suppose the price level in the U.S. is 100 and the price level in Mexico is 50. What is the real exchange rate of the dollar in terms of pesos?
C) Suppose the nominal exchange rate now changes to 1 dollar = 15 pesos. Is this an appreciation or depreciation of the dollar against the peso?
D) Calculate the real exchange rate if the exchange rate is 1 dollar=15 pesos and the price level in the U.S. is still 100 and the price level in Mexico is still 50.
E) Suppose the information in part D is still true (1 dollar=15 pesos), except the price level in Mexico is now 25 (instead of 50). The price level in the U.S. is still 100. Calculate the new real exchange rate given this information.
F) Compare the change in the nominal exchange rate (from 1 dollar = 20 pesos to 1 dollar = 15 pesos) to the change in the real exchange rate between the answers you found in parts D and E. Which change was larger in magnitude?

Classify the following examples as either an export of a good or service, import of a good or service, primary income payment, primary income receipt, or unilateral transfer, all from the perspective of the United States.
A) A U.S. investor earns a dividend from his investment in a British stock
B) A Canadian national living in the U.S. sends some money home to her family
C) A Japanese airline company purchases a new airplane from an American company D) An American construction company purchases lumber from a Canadian firm

Using a Currency Supply-and-Demand diagram, show the effect of the following scenarios on the equilibrium exchange rate and explaining whether the exchange rate has depreciated or appreciated. Explain in 1-2 sentences how you arrived at your answers.
A) The interest rate in the U.S. increases relative to the British interest rate (market: U.S. dollars) B) The price level in Mexico declines relative to the U.S. price level (market: pesos)
C) The price level in Canada increases relative to the U.S. price level (market: dollars)
D) The demand for Japanese imports into the U.S. increases (market: Yen)

nominal gdp when real gdp is 2,500 and gdp deflator is 140

Provide a rationale(s) why it would not be feasible for a national economy to operate at a Pareto efficient point.

6. Pure monoplist is when the monopolist has ------ in the industry.
a.Economies of scale
b.large economies of scale
c.Capital
d.no competitor

7.In a ----- economy, the economic decision are made based on -----, ----- and ----- of that society.
a.traditional; believes, norms, religion and customs
b.transnational; believes, norms, and customs
c.national; disbelieves, norms, irreligion and customs
d.traditional; believes, normal, irreligion and customs

8.The demand curve facing the monoplist is -------
a.upward
b.slanting
c.curved
d.downward

9.Goods and services usually referred to as ------ are produced by firms while household individuals are the ----- of the commodities.
a.‘Commondities' , costoms
b.‘Commodities' , consumers
c.‘Goodies' , producers
d.‘Commondities' , producers

10.The tabular representation quantity demanded of particular commodities at different prices ----------
a.supply function
b.demand Schedule
c.demand curve
d.supply schedule