+1-415-315-9853

info@mywordsolution.com

## Economics

 Basic Economics Macroeconomics Microeconomics Business Economics Econometrics International Economics Managerial Economics Game Theory Public Economics

problem 1: If they devote all of their resources, Japan can produce 150 cars per year or 100 buses per year. Vietnam is able to produce 100 cars a year or 95 buses year. If the two countries were to trade, they would produce:

A) 150 cars and 100 cars
B) 100 buses and 95 buses
C) 150 cars and 95 buses
D) 100 buses and 100 cars

problem 2: Dan owns a donut shop and wants to increase his revenue. He knows that the elasticity for the demand of donuts in his town is -.80. What would be his best course of action to raise revenue?:

A) Keep prices the same, but make more donuts.
B) Increase his prices.
C) Decrease his prices
D) Keep prices the same, but make less donuts.

problem 3: The following group of goods would be considered nearly perfectly inelastic:

A) Medicine
B) Grains
C) Cars
D) Lumber

problem 4: A major clothing corporation attempted to alter their overall revenue by increasing prices on all of their pants by 5%. In response, they sold 200 pairs of pants instead of their normal 300. What is the elasticity of demand for their product?:

A) -6.67
B) 0.15
C) -1.15
D) 1.15

For problems 5-8, refer to the graph of a taxed good below:

problem 5: The amount of dead weight loss due to this tax is:

A) \$50
B) \$100
C) \$300
D) \$800

problem 6: The amount of revenue made from just the consumers is equal to:

A) \$50
B)\$200
C) \$400
D) \$450

problem 7: The region(s) of the graph that correspond to the loss of producer surplus is/are:

A) B
B) A
C) D and B
D) A and C

problem 8: The burden of the tax displayed above is placed on:

A) The producers
B) The consumers
C) Split equally between consumers and producers
D) There is not enough information

problem 9: The UK had a great economic year and produced an extra 500,000 tons of goods to export to the US. Doing so caused which following change to their currency:

A) It did not change.
B) It depreciated versus the US dollar.
C) It appreciated versus the US dollar.
D) It will change, but cannot determine direction.

problem 10: Russia is running an account deficit and currently imports much of their manufactured goods. The Russian government decides to institute a large tariff on imported manufactured good. What is the likely effect of the tariff:

A) The account deficit will increase.
B) More manufactured goods will be imported.
C) The economy will grow weaker
D) Russia will produce more manufactured goods.

• Category:- Business Economics
• Reference No.:- M92893
• Price:- \$50

Priced at Now at \$50, Verified Solution

Have any Question?

## Related Questions in Business Economics

### Assessment task in this assessment students are required to

ASSESSMENT TASK: In this assessment, students are required to demonstrate their ability to apply economic principles learnt in this subject to analysing real-world business operations and evaluate how their long-run busi ...

### 1 there is a small country whose domestic demand and supply

1) There is a small country whose domestic demand and supply for a good x are given below (where P is the price of X) [drawing a demand and supply graph may be helpful to you, but is not required.] D: P=100-Q S: P=10+2Q ...

### Chapter 1 managing changeq1 figure 176 shows how bad an

Chapter 1 Managing change Q1 Figure 1.76 shows how bad an implementation can become. Action needs to be taken to prevent this kind of situation. What would you recommend should be done? Q2 You are the project manager for ...

### Assessment task descriptiontopicstudents will be required

ASSESSMENT TASK: DESCRIPTION Topic Students will be required to choose a specific enterprise (it should ideally be one with which they are somewhat familiar) and develop a sustainability indicators monitoring system for ...

### What is the relationship between economy business and

What is the relationship between economy, business, and society? -6 page essay (includes only ONE page for references,but the cover page is not included in the 6 page requirement) -Double spaced -APA format

### Assignmentinstructions1 select an illegal activity and

Assignment Instructions 1. Select an illegal activity and transform/mask its' true purpose with the disguise of a legitimate business operation. In other words, create a start-up business that would be viewed as a legal ...

### Assignment -consider the following cobb douglas production

Assignment - Consider the following Cobb Douglas production function where Y is maize output, X 1 is labour input, and X 2 is the capital. Data for estimating this equation is given in the Table below. Y = β 0 X 1i β_1 X ...

### Question 1 for the following situations calculate

Question 1 . For the following situations, calculate elasticity of demand and comment on the answer.                             When the price of commodity X was Rs. 12/-, 40 units it were demanded. When the price decre ...

### Assignmentarticle reportplease select a marketing topic you

Assignment Article Report Please select a marketing topic you learned and then search in the Wall Street Journal (either online or hardcopy *) and select an article about that topic within the last 12 months. To do this, ...

### In the united states as in most countries we value the

In the United States, as in most countries, we value the benefits of a free and competitive market. This suggests an interesting question: what if there were to be no Antitrust laws or other regulations on business activ ...

• 4,153,160 Questions Asked
• 13,132 Experts
• 2,558,936 Questions Answered

## Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

### Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

### Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

### Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

### Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

### Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen