27 Answered Questions for the topic Economy


AP microeconomics question (can someone explain the answer please? thanks!)

To maximize profit, a firm should produce the quantity at which marginal revenue equals marginal cost unless, in the long run, the firm woulda) earn positive accounting profit.b) earn positive... more

ap economics question (can someone explain why? thanks)

Which of the following is the most likely to be a regressive tax?a) a sales tax on all goodsb) a tax of $1,000 per personc) a personal income tax of 25% on all incomed) a personal income tax of 15%... more

ap micro econ question (can someone explain this to me?)

A second of which of the following is the most likely to provide more marginal utility than the first?a) mailboxb) t-shirtc) shoed) care) refrigerator


micro economics question

Suppose there is a decrease in the price of swimsuits and no change in the market demand curve for swimsuits. Who receives the resulting increase in consumer surplus?a) Buyers who did, and who did... more


economy questions

By convention, a price elasticity of demand of 5 indicates that a 1% increase in price leads to a in the quantity demanded. (Answer is e, but I want to know why it's the answer)a) 0.2% decreaseb)... more


ap economy question

Which of the following statements is true? (answer is b but please explain why)a) Normal goods and inferior goods differ in regard to the direction of the substitution effect caused by a price... more

What geographical and economic factor have prompted the government of Bahrain to build the new airport terminal?

Two factors for economic purposes, and two geographical factors.

Professional Safety

If personal safety is protection from harm, hurt, victimization, carelessness, recklessness, violence etc., etc., then what might possibly be professional safety?
Economy Microeconomics


Microeconomy Question

Consider a production function of the formf(x1,x2) = x1α + x2αwith 0 < α.1.    For which values of α will this exhibit constant, increasing and decreasing Returns to Scale? 2.    What... more
Economy Microeconomics


What are the four types of unemployment mentioned in general?

Explain unemployment. In terms of how an economy works, one thing leads to another. There are different reasons why people are unemployed; they may not even be looking for work.

What ethical (if any) or economical arguments are offered in defense of the inheritance tax?

Although I am normally quite supportive of higher taxation, I've never really felt comfortable with the inheritance tax. I see no reason why the government should tax the money a parent wishes to... more

What factors contributed to the U.S economy flourishing during the early cold war period?

Wars, cold or otherwise, are bad for economies, right? So why did the American economy flourish during the early Cold War period (shortly after World War II)? Could anyone help me identify some... more

How were FDR's economic policies as Governor of New York contradictory?

I have read in a number of Roosevelt's biographies that as Governor of New York, Roosevelt was not so aware of how economics works. He recognized that radical change was needed to respond to the... more

But without government, who will take care of the poor?

Without government, who will take care of the poor? One government defines [poverty](http://www.census.gov/hhes/www/poverty/about/overview/measure.html) as $11,888/yr for an individual.

How did the Supreme Court case Lochner vs. New York influence the U.S. economy?

How did the Lochner vs. New York case affect the U.S. economy at the time?

If Jim, a random citizen, owes TD Bank $300,000 for his house mortgage, is this added to the U.S. national debt?

According to [Wikipedia](https://en.wikipedia.org/wiki/National_debt_of_the_United_States): National debt consists of two components. The first is > *Debt held by the public*, such as Treasury... more


How close were the living standards of India compared to England during the medieval period?

India, China and the African continent today are mostly associated with poverty in Europe, the US and so on. Looking at India specifically, did it during the medieval era share a similar standard... more


What is so special about the location of Mexico City?

Since 1325, the area we know today as Mexico City has held some sort of cultural or historical bond. The bond is so strong that, no matter what, no matter how bad a shape the country gets, they... more

Where did Japan get their oil during WWII?

To my understanding the United States was the largest exporter of oil to the Japanese prior to Pearl Harbor. The Japanese islands aren't known for their oil fields. It's also believed that the... more

Gold Confiscation Act of 1933?

On March 9, 1933 Franklin D. Roosevelt (FDR) called Congress in for an emergency session, which would result in the speedy passing of the **Gold Confiscation Act**. According to FDR's Executive... more


How do I calculate interest rates?

what is the interest rate given on a simple loan of 12000 given: Principal 1200, Interest rate 5.5, Time 6 years


If the MPC is 0.75 and investment spending increased by $20 billion, then the increase in GDP will be $

If the MPC is 0.75 and investment spending increased by $20 billion, then the increase in GDP will be $


GDP to increase by $160 billion. If the MPC is 0.80, to reach the President’s goal government spending must increase by $

Assume you are an economist working on the President’s Council of Economic Advisors. The President wants the U.S. GDP to increase by $160 billion. If the MPC is 0.80, to reach the President’s goal... more

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