Economics Answers

countries with high fertility levels face serious problems, how does it fit into the solow growth model?

Germany has a high technology level, because of high investment in education, a national culture of long education, strong protection of property rights, and an open economy. It has a high growth rate if capital per worker, despite a lack of natural resources. In contrast

7.Countries engage in international trade because factors of production are unequally distributed among economies of the world.

a. False

b. True

8.The following factors contributed to South Africa being downgraded to junk status in 2017.

a)Debt incurred by stated-owned entities such as Eskom.

b)Corruption and increased public debt.

c)Lack of clarity regarding economic policy.

d)High economic growth.

a. only b

b. a, b and c

c. only d

d. c and d

At what ammount does the consuption diminishing mariginal utility?

Due to substantial increases in prices in Country A, the real income level of the population in Country A decreases. Show on a diagram how the decrease in the income level in Country A will affect the demand for meat, which is a normal good. Also indicate how the equilibrium price and equilibrium quantity of meat will change in Country A. The direction of any changes should be clearly indicated using arrows. Note that your diagrams should be properly annotated and that marks will be deducted for any missing labels on your diagram.

Describe the term “Economies of scale

 Name and describe three tax methods 

Suppose that the marginal cost of a firm for a given level of output is Birr 30 and its AVC is Birr 40. In which stage of production is the firm operating?

Derive the long run supply curve of a constant cost perfectly competitive industry

Why do firms enter an industry when they know that in the long run economic profit will be Zero? Under What conditions will a firm exit a market? Explain.