Does the official unemployment rate overstate the true level of unemployment, understate the true level of unemployment or accurately measure the true level of unemployment? Be certain to clearly and carefully explain your answer.

In the book "The Shifts and the Shocks" by Martin Wolf, of Chapter 4 How did finance become fragile? What was the reason?

Question: - 1(a). Should a nation tend to export or import goods for which it has a comparative advantage? Explain. Why do economists oppose policies that restrict trade among nations? (Minimum 500 words).

(b). Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying.

a. Draw Maria’s production possibilities frontier for reading economics and sociology.

b. What is Maria’s opportunity cost of reading 100 pages of sociology?

***Please I do not want answer from internet

***Plagiarism not allowed

(a) What is the compensating variation? What is the equivalent
variation? What is the diference between them?
(b) You consume two goods, good x and good y. These goods sell
at prices px = 1 and py = 1, respectively. Your preferences are
represented by the following utility function: U(x; y) = x + ln(y):
You have an income of m = 100. How many units of x and y
will you buy and what will is your utility? If px increases from
$1 to $2; gure out the compensating variation (CV) associated
with price change.
(c) If instead your utility is U(x; y) = ln(x) + y; figure out the com-
pensating variation (CV) as px increases from $1 to $2:
(d) Are the compensating variations the same for both of the above
utility functions? Explain your answer rigorously.

(a) If your utility is represented by u(x; y) = min(x+2y; 2x+y);what do your indi¤erence curves look like?

(b) Given your answer in (a), obtain the MRS (marginal rates of sub- stitution).

(c) Suppose the prices of x and y are px = $3 and px = $1 and you have 100 dollars. What would you choose?

(d) If px decreases to $1; what would you choose? (e) Use the Slutsky decomposition to decompose the total price e¤ect into the substitution e¤ect and income e¤ect when px decreases from $3 to $1:

3.) Reproduce a conceptual diagram of the Schaefer Curve. Label the stable and unstable equilibrium, the maximum sustainable yield, and population dynamic movements.

(0, 5, or 10) Describe the effect (increase or decrease) on GDP, unemployment, and inflation of each of the following: (a) war, (b) elimination of environmental regulations, and (c) cuts in welfare benefits. Explain your answers.

1. Consider an economy in which there are two industries. The wage income of a worker in one industry is $10, while the wage income of a worker in the other industry is only $4. The government, however, imposes a tax of τ dollars on each high-wage worker and provides a subsidy of σ dollars to each low-wage worker in order to reduce the income differential. The government’s tax revenue is equal to the cost of the subsidies. One-quarter of the workers are qualified to work only in the low-wage industry. The remaining workers are able to work in either industry. These workers choose to work in the high-wage industry if the difference between the after-tax income of a high-wage worker (yH ) and the subsidy-inclusive income of a low-wage worker (yL ) is more than $4. If this difference is less than $4, they will choose to work in the low-wage industry. If it is exactly $4, they do not care where they work, and any division of these workers between the two industries is possible. Find all of the pairs (yH , yL ) that can occur in this economy.

2. Consider an economy like the one above, except that the wages paid in the high-wage industry fall as the number of workers in that industry rises. In particular, assume that each worker’s wage income is w H = 4 + 3/p where p is again the fraction of workers in that industry. The wage income of lowwage workers continues to be fixed at $4. Find all of the pairs (yH , yL ) that can occur in this economy.

1. Name 3-5 types of products that experienced an increase in demand due to COVID-19. Explain why the demand for these products increased.

2. Graph the original demand function for these products and its response (shift) due to COVID-19.

3. Explain how the prices for the products, whose demand increased, will respond in the equilibrium. Explain what needs to happen to supply in order to maintain the prices of these products prior to the increase in demand caused by COVID-19. You may draw a graph to illustrate your point.

1. Name 3-5 types of products that experienced a decrease in demand due to COVID-19. Explain why the demand for these products declined.

2. Graph the original demand function for these products and its response (shift) due to COVID-19.

give three example of how can the Income Inequality Gap in the US be Improved?

Why is it a challenge to utilities to promote energy efficiency? How might decoupling reduce the challenge?

with reference to international marketing research, list and describe 4 problems that are associated with gathering primary data.

1. Describe how Bank of Canada is trying to combat current situation caused by COVID-19. Discuss the pros and cons of this new policy. Please provide proper details of your each argument. (2.5+2.5=5)

A

2. explain the roles of households and firms in the factor market and the product market. Give one example each of a product market and a factor market. (2.5+2.5=5 Points)

3. Remember the concept of aggregate demand (AD) and aggregate supply (AS), what measures can a government take to promote long-term economic growth in the country? Discuss with rational. (5 Points) – NOTE: For this question ignore current situation of COVID-19.

4. Opportunity cost is an important concept in economics, keeping the same in mind, discuss why students generally prefer late morning classes to early morning classes. (5 Points)

5. Discuss the role of automatic stabilizers in current situation caused by COVID-19. What are the pros and cons of these automatic stabilizers in an economy? (2.5+2.5=5 Points)