Economics Answers

Assume that a country has a growing budget deficit, carries a very large debt, is in a period of high unemployment with interest rates almost at zero, and annual inflation and GDP growth of about 2%.

What is the first action you would take as the president? Why?

Australia can produce 50 barrels of ethanol or 30 tonnes of wheat a day, while the United States can produce 120 barrels of ethanol or 20 tonnes of wheat a day.
(b) Initially, both Australia and the US spent half a day producing ethanol and half a day producing wheat. However, they now decide to specialise in producing the product that they have a comparative advantage and trade their products in the world market. What are the total gains from trade?

The following financial statements were prepared for the management of TEDA Ltd. The statements contain some information that will be disclosed in Additional Information at the end of the general purpose financial statements.

Discuss the main inputs under three main types of factors of production

can you give me real world company examples for opportunity cost and scarcity situations?

Why is elasticity an important concept for a business?

Bridge tolls
Beachfront properties
Gourmet coffee
Gasoline
Cell phones

Technically, price level stability is the absence of market inflation and deflation. The latter, however, referring to an increase in equilibrium prices, and the former to a significant price cut. Both positive and normative economists are challenged to critically examine and evaluate how the two market phenomena occur as they may create adverse economic impacts on economy both at the national and local levels. The former is further expected to propose economic and socio-political interventions and mitigations to cushion their impacts

What is wrong the staement?

whats the trade off in achieving economic growth

A large amount of the economic growth in the U.S. In the 1990s can be attributed to major advances in which industry?

Jamie is considering leaving her current job, which pays $75,000 per year, to start a new company that develops applications for smart phones. Based on market research, she can sell about 50,000 units during the first year at a price of $4 per unit. With an annual overhead costs and operating expenses amounting to $145000. Jamie expects a profit of 20 percent. This margin is 5 percent larger than of her largest competitors, Apps. Inc.

a. If Jamie decides to embark on her new venture, what will her accounting cost be during the first year of operation? Her implicit costs? Her opportunity cost?

b. Suppose that Jamie’s estimated selling price is lower than originally projected during the first year. How much revenue would she need in order to earn positive accounting profits? positive economic profit?