Economics Answers

What affords government has taken to maintain more gross enrollment ratio and attendance ratio

Using diagram distinguish between a minimum price and maximum price. Outline the effect of each price control.

what happens to monetary base(high powered money) when the public's spending increases during the festive periods?

what is the implication of injecting foreign exchange into the economy. what will happen to money supply?

effect of increasing reserve ratio by central bank on both simple and complex multiplier

Assume a production function with constant returns to scale. The share of capital in production is 1/4 and the share of labor is 3/4. If both labor and capital grow at 1.6% and real output grows at a rate of 2.8%, what is the growth rate of total factor productivity?

2.8%
1.6%
1.2%
1.0%

Suppose that Omar’s marginal utility for cups of coffee is constant at 2.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the third he eats, and so on (that is, declining by 1 util per additional doughnut). In addition, suppose that coffee costs $1 per cup, doughnuts cost $1 each, and Omar has a budget that he can spend only on doughnuts, coffee, or both. How big would that budget have to be before he would spend a dollar buying a first cup of coffee?

The price elasticity of demand for petrol used by car drivers in an economy is estimated to be -0.2
Which of the following is the likely reason for the low PED?
- a tax on petrol
- cycle lanes on many roads
- few bus and rail services
- low household incomes

draw a production possibility frontier that shows the trade off between the production of cotton and soybeans.

Explain with the aid of a properly labelled diagram, the marginal revenue curve facing a perfectly competitive firm.