Economics Answers

calculate GDP and National income: transfer Payment=80, govt. purchase=250, net indirect taxes=40, proprietrs income=160,wages & salaries=480,personal consump. exp.=500, capital cons. allowance=100, export-imp=50,corporate profit=120,interst &invest income=50,gross invest=150, net invest from non residents=60

Discrimination of ________ degree exist when consumption of a good is divided into various blocks, a separate price is charged from each block but for each block a uniform price is charged.

Determine whether each of the following four sentences uses the terminology of the supply and demand model correctly.
a. “The price of bicycles rose, and therefore the demand for bicycles went down.”
b. “The demand for bicycles increased, and therefore price went up.”
c. “The price of bicycles fell, decreasing the supply of bicycles.”
d. “The supply of bicycles increased, and therefore the price of bicycles fell.”

tell me how to calculate mpc and mps

Assuming a constant wage rate, illustrate and explain using a diagram, how a firm’s marginal cost of production are at a minimum when its marginal product is at a maximum?

a) Illustrate and explain using diagrams how a single seller within a market can maintain an inefficient allocation of resources.

what market structure is used to bench mark allocative allocative efficency and why we use it? using diagram

In a two-sector model, demonstrate with the aid of appropriate diagram(s) that the three approaches of measuring national income of a country yield identical results.

Which of the following is/are an example of involuntary unemployment
A housewife
A student
A subsistence farmer
A pensioner
Non of the above

The USA and People Democratic Republic of China are recently in trade war. The USA initially imposed additional tariff on aluminum products coming from China. The Chinese government retaliated against the USA by imposing additional tariff on good coming from the USA. Nevertheless, neither country is claimed to violate WTO law. How do these countries manage to increase import tariff without violating their WTO tariff commitment?