One of the Principles of economics “Trade Can Make Everyone Better Off.” Based on your understanding of this principle, first, explain the fundamental principles of the trade between the two countries. Today we can see that some countries started to impose some restrictions on the flow of goods and services, do you think these practices contradict the principle? Why?
I need the answer minimum of 500 words please.
In: Economics
What is important about the Fair Pricing price and when would it be used instead of the Social Optimal price?
In: Economics
Explain the reason for the following phenomenon: At parties in
which several
conversations are simultaneously in progress, it is common for
everybody to be shouting
to be heard over everybody else, whereas they would all be heard
better (and save wear
and tear on their vocal chords) if they all spoke in normal tones
of voice.
In: Economics
Today and due to the spread of COVID19, we can observe that some sectors in an economy are expanding will others contracting. Using the demand-supply framework, give an example for one industry that is growing and one industry that is shrinking. Use the graphs to explain your idea and demonstrate why this is happening.
I need the answer of minimum 800 words.
In: Economics
In: Economics
In: Economics
As explained in the textbook Principles of Macroeconomics, explain the main factors that led to significant economic growth in the United States during the 20th Century.
In: Economics
In: Economics
Suppose two seemingly similar goods or services with significantly different prices. Discuss a minimum of three different possible explanations of why those price differences might exist. Be specific about your assumptions. Be clear in why those goods or services have different prices and whether or not those price differences might disappear over time. Give examples of two goods that might fit each of your explanations. What generalizations about how prices relate to one another can you make?
In: Economics
EXPLAIN IN DETAIL HOW THE MULTIPLIER WORKS TO IMPACT GDP?
In: Economics
10. If a country has rising incomes and people are buying more imports, what do you expect to happen to the value of that country's currency in comparison with other countries in which incomes are not rising as fast? Explain in your answer how you reached this conclusion by considering demand and/or supply of the currency.
11. Given the following information, what is the price elasticity of demand between $10 and $20 if these are the reservation prices people have for this good.
$5 . $5 . $10 $10 . $10 $10 . $15 . $15 . $20 $20
12.
Given the following information for three goods, which two are substitutes and which two are complements. You don't need to calculate the cross price elasticities here but which will be negative and which will be positive. Explain how you reached these conclusions.
Good | A | B | C |
Initial price | $50 | $20 | $40 |
Later price | $60 | $20 | $40 |
Initial quantity | 100 | 200 | 100 |
Later quantity | 80 | 150 | 110 |
In: Economics
Why Apple Inc is a monopolistic competition?
What is Advertisement Strategies of Apple Inc?
Variety of prices of Apple Inc.
In: Economics
select a store and choose a site location you would like to use for the store.
Describe the location using the following factors:
A-Where is the location? For example, I might select a Smithtown shopping center on the corners of Route 25 and 111.
B-How would you describe the population density for the location.
C-Describe the quality of the location as you see it.
D-Using the free zip code analysis found online, describe the demographics of the area including: average income, number of people, number of households, age breakdown, average house value, area population and number of area businesses.
E-Ease of access to the location.
F-Analyze the tenants in the center, if applicable.
G-Describe the nearby competition.
H-Describe the traffic going by the site, is it heavy or light?
I-Availability of the parking spots.
J-Type of lease you'd want for the location.
K-Any other factors that you might want to add.
It should be 3-5 pages double spaced.
In: Economics
Write a thesis statement that employees should have the right to participate in decisions that effect them.
In: Economics
Key objective: exemplifying the limitations of the power of oligopoly due to short-term and long-term elasticities.
Setting: Imagine you are representing one of the members of the OPEC, and you are motivated by an increase of your revenue from the sale of crude oil. You have to compromise on current decision on possible output decrease as to stimulate the world price of gas. Please consider the historical relation of the reaction of the gas price at the pump to the world price of the crude oil per barrel. Please resort to the NYU STERN case on The Petroleum Market: 1970 – 2000 (via link provided below the assignment), but most of all to the research on the following issues in the summer of 2008 in the US and now, and the political debate on the energy crisis, environmental protection and renewable sources of energy.
Instruction: As usually, please complete the assignment discussing the relevant economics concepts and applying economic tools with supporting data for problem solving in this real-life imitating simulation, and include also a memo summarizing the points of agreement to be reached and followed by OPEC unanimously, and with the compliance in the forthcoming months.
Outline: Include in the discussion the following issues with data, as the basis for your common decision to be made:
• demand patterns for crude oil in the World
• the price elasticity of demand for gas in the US
• the factors influencing the price elasticity of demand for gas in the US, and possible changes in this respect (behavioral patterns)
• the impact of price changes (on different price levels) on the revenue of crude oil exporters
• the income elasticity of demand for gas
• the price elasticity of supply of gas
• the effect on the market outcome, on the market equilibrium, and on the efficiency of the market
• the effect on the international trade, state policies, and on the economy.
In: Economics