1. The monthly demand curve for Leather Jackets is: QD = 7,500 – 5P QD = demand for Leather Jackets per month P = price of Leather Jackets per month One firms supply curve is: qS = 5 + 0.25P (all firms have the same supply function)

1a. What is the price of Leather Jackets per month if the total supply from all firms is 7,000 Leather Jackets per month?

1b. How many Leather Jackets will each firm supply and how many firms are there?

1c. If all the firms were forced to close down due to Covid-19 what would the price be when firms are allowed to open and produce again. Explain your answer.

1d. If 10 firms exit the market, calculate the new market equilibrium price and quantity.

1e. If there is a change in demand so that demand drops by 50, calculate the market equilibrium quantity and price after the firms exit the market.

The diagram indicates that the marginal revenue of the sixth unit of output is.

How do I find the marginal revenue and show it on the graph for a monopoly?

Describe the difference between individual/household poverty and neighborhood poverty. How does being poor in a poor neighborhood increase the impact of economic disadvantage?

How would you describe a “market niche?” Describe four product/services that you own or consume that you would consider to be “niche” products. Why do you believe this to be true?

1. Briefly describe the expenditure multiplier and state how it is computed. How is it different from the Tax multiplier?

2. Discuss how spending and output influences equilibrium in a simple model where aggregate expenditure = consumption.

3. Describe how unplanned inventory can influence equilibrium in the model where AE=(C+I+G+(X-M))

Market failure is defined as “the inability of a market to produce a desirable product or produce it in the “right amount.” Explain how may this happen and what will be the likely impact of such occurrence. Give two examples resulting in overproduction or underproduction. For each case give what may be considered as intervention in the market for its correction as “second best.”

1Our model assumes that (choose one or more)

A part of income is consumed

B the part of income that is not consumed is saved

C investment equals saving

D the rate of saving is also the fraction of output devoted to investment

2The capital stock can change over time because of

A investment B depreciation C both A and B

3The steady-state level of capital per worker is (choose two)

A above the level of capital stock at which depreciation exceeds investment

B above the level of capital stock at which investment exceeds depreciation

C below the level of capital stock at which depreciation exceeds investment

D below the level of capital stock at which investment exceeds depreciation

4The Solow model explains the “miracle” of Japanese and German growth because (choose two)

A at the lower capital stock, more capital is added by investment than is removed by depreciation

B at the lower capital stock, less capital is added by investment than is removed by depreciation

C their saving rates were higher than in the United States

D their saving rates were lower than in the United States

How are you impacted by the economic growth of the country "Canada"?

What is Boomernomics? How do they impact the global economics next 20 years globally? What are the 3 industries that will be benefited from the retirement of the “BABY BOOMER GENERATION”?

1. Technological Advancement of other source of energy, 2.Environmental climate change in canada , 3.Changes in the economic situation can contribute to buying decision of the consumer .How they are THREAT to the SOLAR PANEL INDUSTRY in canada

Explain the Hofstede’s Cultural Dimensions framework? (300 words)

1-What are the factors that cause food prices to recently increase? Do you think those prices will continue to increase in the future? Why or why not?

2- Define Macroeconomics. What do you think of the current state of the US economy is? Is it “excellent,” “good,” “fair,” or “poor”. What made them choose excellent, good, fair, or poor? Please justify your answers using data and examples from the real life

3- Define the terms inflation and deflation. What are the negative impacts each can have on an economy? What’s the inflation rate of the US in the past 5 years? Is it good or bad? Does it mean our economy is stable? Why or why not?

The world has been hit by the outbreak of a viral disease in the latter part of 2019 named “novel Coronavirus
disease 2019” (COVID-19). A lot of people in many countries have been infected leading to loss of many lives
and hence necessitating a lockdown by many countries. This has also stalled economic activities globally. This
viral outbreak has also been declared as a global pandemic by the World Health Organisation (WHO). Ghana
however recorded its first case of the COVID-19 on March 12, 2020 and the number of confirmed cases keep
increasing with few deaths. The president therefore thought it wise to declare a lockdown of some major parts
of the country on March 30, 2020 with its attendant effects and he reopened it three weeks later.
Required:
a. What are the potential trickle down economic effects on the Ghanaian economy of the global impact
caused by the deadly COVID-19 since no country is an island by itself?
b. Discuss the potential economic impact of the COVID-19 on the economy of Ghana with reference to
the following thematic areas: Gross Domestic Product; Inflation; Government Revenue; Budget Deficit;
Debt level.
c. What is your assessment of the feasibility and practicability of the fiscal and monetary measures that
have been put in place by the government so far?
d. By looking at the bright side, identify any three economic opportunities that COVID-19 presents to the
Ghanaian economy.

Draw a steep labor supply curve and a less steep labor demand curve on a set of axes. Now suppose demand decreases. Label the old and new equilibria. Draw a cobwebbing path to show how wages and quantities of labor evolved to get from the old equilibrium to the new equilibrium.

What kinds of treatments will comparative effectiveness research compare?