use economics terms: explain in a lot detail Economic Reasoning Activity Miguel owns a sweater store. He notices that when the prices of a sweater decrease by 5%, the quantity demanded increases by 7%. If Miguel decreases his prices by another 5%, will this result in another 7% increase (no more and no less) in quantity demanded? Use economic reasoning in your explanation.
Lukoil is also interested in Nafta Lendava, a wholly state-owned producer of oil derivatives, which is about to be totally privatized. In Russia, Jansa also met the chief of the worlds largest gas company, Gazprom, Aleksei Miller, who is interested in investments in Nafta and in running gasoline stations in Slovenia. There is also talk of building a gas pipeline that would run through Slovenian […]
Suppose that the Demand for a product X has been estimated to be: = 400 + 0.002I + 8Z – 5Py – 20P Where Qx is the quantity demanded for the product X, Px is the price of product X, Py is the price of a related product Y, I is the level of income, and Zis some other variable that affects the demand for […]
1. Using an AS/AD diagram, demonstrate graphically and explain verbally the short-run impact on the price level and real output of an increase in the labor productivity schedule. 2. For each of the following “quotes” from The Wall Street Journal, draw a picture to show how the AD curve will shift. Label your original curve AD0 and your new curve AD1. (a) “The value of […]
As firms get larger, specialisation of labour may occur whereby workers must undertake boring and repetitive jobs. Owing to this, the diseconomy of scale of ________ may occur. Select one: A. rationalisationB. communicationC. efficiencyD. alienation
Give examples from a current or former place of employment of a change that was implemented well and a change that was not implemented well. Explain the scenario in each example and why the implementation was either successful or not. Compare and contrast the differences
Suppose that the long-run aggregate supply curve is positioned at a real GDP level of $15 trillion in base-year dollars,and the long-run equilibrium price level (in index number form) is 115. What is the full-employment level of nominal GDP?
This is the screen shot of the entire question i need answered. Below is the text i wrote out of the question, C. Do you think the instrumental variable you described above in part b) satisfes the two key conditions of a good instrumental variable? Q1. You are interested in estimating the effects of owning a tablet (such as an iPad) on thegrades of high […]
19932 1/21/41/41/232 1/42 3/42 1/40199403632/253/43 3/419951/21/423/45 1/23 1/25 1/43 1/40What does ‘GDP at 1990 prices’ mean?What is the term used for GDP before adjustments for factor cost are made?What adjustments have to be made to convert the figures to factor cost?Why are the factor cost adjustments in the table all negative?What further adjustments would be required to obtain a figure for national income?Explain using Keynesian […]
Assume the annual profit from a credit card customer is year 1 $125, year 2 $125, year 3 $150, year 4 $150, year 5 $150, year 6 $200, year 7 $200. Each year ear there is a 0% chance of losing the customer and the discount rate is 20%. It costs $250 to acquire the customer. What at is the customer lifetime value of this […]
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