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15 Sep
2020

# Transcribed Image Text from this Question2) Fig 3.2 Annual hours of free time per…

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Transcribed Image Text from this Question2) Fig 3.2 Annual hours of free time per work and income (2013) 70,000 Norway 60.000 s..00 Netherlands Denmark 40.000 GDP per capita (PPP) 4 PUM . 10.000 une 20.000 ing 10.000 0 6300 6400 6700.000 4900 7000 7100 7.2007,100 Average annual hours of free time per worker 7400 a) How is it possible for the US to have a higher per capita GDP than Japan or Italy while having only slightly fewer hours of free time per year? b) How is it possible for Norway to have both more hours of free time and a higher per capita GDP than the US? 70,000 Norway 60,000 US 50,000 . Netherlands Denmark. Germany 40,000 GDP per capita (S PPP) • South Korea Japan. Italy : UK • Spain . 30,000 Russia Greece • France 20,000 Chile furkey Mexico 10,000 0 6,500 6,600 7,400 6,700 6,800 6,900 7,000 7,100 7,200 7,300 Average annual hours of free time per worker
Question The Table Below Shows The Total Spending On A Basket Of Goods And
Transcribed Image Text from this QuestionQuestion The table below shows the total spending on a basket of goods and services; use this information to calculate the index number for the cost of a basket of goods and services in period 1, assuming Period 2 is the base year. (Round to I decimal place.) Index Number ? 100 Total Spending \$1,560 1,460 Period 1 Period 2 Provide your answer below:
1. Suppose You Are Spending \$400 Per Week And Only Earning \$300 Per Week.
Transcribed Image Text from this Question1. Suppose you are spending \$400 per week and only earning \$300 per week. Use the standard version of percentage change unless I specify the midpoint formula. We’ll start using the midpoint version when we cover elasticity. a. How much less would you have to spend (in percentage terms) in order to break even? Do I still need to nag you to write down the relevant formula before starting with the numbers and to summarize your results in a sentence? b. How much more would you have to earn (in percentage terms) in order to break even? Always summarize your results in a sentence. c. Starting from the original numbers, suppose you get a 10% raise. How much would your weekly shortfall change? Answer in dollars and as a percentage of the original shortfall. Summarize … you got it.
2. Production Possibilities Problem. Chiles 1 2 3 Beef 30 28 23 14 0
Transcribed Image Text from this Question2. Production Possibilities Problem. Chiles 1 2 3 Beef 30 28 23 14 0 a. Graph a PPF with Chiles on the horizontal axis and Beef on the vertical. Use a consistent scale on each axis. Use graph paper. b. Calculate
Lesson: Week 9 Quiz 3G 9/12 Nearpod Sketch A Phillips Curve Diagram. A. Label
Economics Assignment Writing ServiceTranscribed Image Text from this QuestionLesson: Week 9 Quiz 3G 9/12 nearpod Sketch a Phillips Curve diagram. a. Label a point “N” on your Phillips Curve to indicate the level of inflation and unemployment the economy would likely be experiencing given “Extremely rapid growth of exports.” Why would this be? (Keep in ming expansion of export is affecting AD) b. Label a point “o” on your Phillips Curve to indicate the level of inflation and unemployment the economy would likely be experiencing after the government has implemented a contractionary fiscal policy. Why would this be?
CENGAGE MINDTAP Search This Course Homework (Ch 02) Attempts: O Keep The Highest: 0/5
Transcribed Image Text from this QuestionCENGAGE MINDTAP Search this course Homework (Ch 02) Attempts: o Keep the Highest: 0/5 5. Opportunity cost and production possibilities Charles is a skilled toy maker who is able to produce both trains and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Choice Hours Producing Produced (Trains) (Drums) (Trains) (Drums) 8 0 4 0 А 6 2 3 11 4 4 2 15 по по 2 6 1 18 0 8 0 19 On the following graph, use the blue points (circle symbol) to plot Charles’s initial production possibilities frontier (PPF). 30 Homework (Ch 02) Qs ols 30 25 Initial PPF 20 . O New PPF DRUMS 15 10 5 0 0 2 3 O 4 TRAINS 5 6 7 8 TIUITWUIR CRUZ) 0 1 2 3 s 6 7 0 TRAINS Suppose Charles is currently using combination D, producing one train per day. His opportunity cost of producing a second train per day is per day. Now, suppose Charles is currently using combination C, producing two trains per day. His opportunity cost of producing a third train per day is per day. From the previous analysis, you can determine that as Charles increases his production of trains, his opportunity cost of producing one more train Suppose Charles buys a new tool that enables him to produce twice as many trains per hour as before, but it doesn’t affect his ability to produce drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph. it was previously Because he can now make more trains per hour, Charles’s opportunity cost of producing drums is
The Figure Below Illustrates The Market For Pumpkins Just Before The Harvest For Halloween.
Transcribed Image Text from this QuestionThe figure below illustrates the market for pumpkins just before the harvest for Halloween. Currently the market equilibrium price of a pumpkin is \$6. At that price, consumers would buy ten million pumpkins. Suppose a freak storm wipes out 30% of the pumpkin crop. On the graph, shift the appropriate curve to reflect the impact of the storm on the equilibrium price and quantity of pumpkins. To refer to the graphing tutorial for this question type, please click here. Pumpkin Market Price 10 15 14 13 12 11 10 Quantity in ons 2 Qarisons Part 2 (1 point) Using the price and quantity information from the figure calculate the price elasticity of demand for pumpkins. Use the midpoint formula Round your answer to two decimal places Ep –
Complete The Quantity Discount Analysis Problems Below. You Must Show Your Work To Receive