2 EC 102 AA,BB, Fall 2023, Midterm 2, Version A (1)

Problem 1. How does the current economic environment compare with the environment in the time prior to previous recessions? How are things different or the same? What do you believe is the likely probability of a recession within, say, 12 months? Include evidence, charts, tables, as you see fit

Please refer to the table “Pet Owners’ Behavior during Recession,” which shows results of a survey in themidst of the recession in 2008. Now that there hasbeen some economic recovery, the results may differ.a. Perform a survey of modern-day pet ownersasking the same questions. Compare andcontrast your results with those from 2008.b. Record the generation for your respondents andperform a cross-tab analysis based on those data.c. Record household life-cycle stage and perform across-tab analysis based on those data.

For this task, you may like to gather some external information to find out more about the work and biography of your potential guest economist and the topic that been chosen (unemployment rate and cost of living during the pandemic in Australia). You should include references to any external information sources that you use. Prepare a short proposal outlining the topic of your event. Your proposal should describe your topic and explain how it is relevant to people today. The topic should relate to the issues we have learnt about this macroeconomics course. (3-4 sentences)

10- Production possibility concept is useful in macroeconomics to ____________. a. Know the production possibility of one product b. All of the options c. Know the production possibility of a nation d. Know the production possibility of a company

Answer your friend who claims that; (Shortly answer your friend, are these statements are correct or wrong,explain shortly.) 1) housing boom in Japan is unbelievable due to its declining population (Table 3). 2) The condominium prices are determined by the building costs by the construction companies rather than financial condition of buyers.  The condominium prices    3)are similar to those in other property types (Table 1) and  4)do not change largely regionally across Japan (Table 2).  5) population changes do have similar effects on house prices in large cities and rural areas in Japan.

11) Model A is superior to model B if A) it contains more real world detail than model B. B) it contains fewer unrealistic assumptions than model B. C) its predictions correspond more closely to the facts than the predictions of model B. D) it is preferred by a majority of researchers in a public opinion poll. E) it is scientifically "elegant." 12) In choosing among alternative models, economists generally have the strongest preference for models that A) have assumptions that are close to exact replicas of reality. B) are detailed and complex, with every available fact and figure included.  C) have few assumptions and are as simple as possible, even if they cannot predict very well.    D) predict better than any other that is available. E) have assumptions that are complicated. 13) A normative statement is a statement regarding A) what is usually the case. B) the assumptions of an economic model. C) what ought to be. D)…

Case Studies Economic Development Planner You have just been hired as an economic development planner working for a businesswoman who builds large shopping stores and malls in cities. The company wants to build a regional shopping center in a nearby city that is surrounded by a large rural population. To help them conduct a feasibility study, please address the following questions. 1. What type of population-related decisions should be made to determine the best location for the shopping center? For example, is there a demand for new retail stores? 2. What type of population and related information would you need to collect to help determine the best location for the center? 3. What types of analysis would you perform with the information?

Lauren’s Beauty Boutique has experienced the followingweekly sales: Week Sales1         4322         3963         4154         4585         460 Forecast sales for week 6 using the naïve method, a simpleaverage, and a three-period moving average

i need help , i keep getting it wrOing and this is my last chance mIcroeconmics question 7

Decide the best choice. a. The inndividual waiting times experienced by customers in a busy breakfast cafe would be an example of a deterministic process because several customers are waiting to be seated. b. Informmation Systems and Informmation Technology are identical and synonyms that mean the exact same thing. c. In 2019, both manuffacturing and service sectors employed roughly the same percentage of the labor force in USA. d. Today, services constitute a large percentage (e.g., more than 60%) of the U.S. economy. e. Both choices ‘a’ and ‘b’ are correct.

CHOICES: a. Both statements are TRUE b. 1st statement is TRUE, 2nd is FALSE c. Both statements are FALSE d. 1st statement is FALSE, 2nd is TRUE STATEMENTS: 1. Economic growth increases rapidly if a large sector such as agriculture is left to delay behind the rest of the economy. 2. The primary sources of risk to farmers are price and weather.

Explain 16 correctly

Explain the relationship of Covid-19 pandemic to the declining economy of the Philippines.

Answer your friend who claims that; Do you agree/disagree with these statements,explain your reason. 1) housing boom in Japan is unbelievable due to its declining population (Table 3). 2) The condominium prices are determined by the building costs by the construction companies rather than financial condition of buyers.  The condominium prices    3)are similar to those in other property types (Table 1) and  4)do not change largely regionally across Japan (Table 2).  5) population changes do have similar effects on house prices in large cities and rural areas in Japan.

Question 2You have been employed as the chief economist for the economy UWI Land. The head statistician has provided you with the following information:Compensation of Employees900Corporate profits 400Factor income paid to the world 325Factor Income received from the world170Indirect taxes 775Subsidies 125Depreciation 120Consumption of goods 850Net interest 75Rent Income 125Consumption of services 475Residential investments 350Non-residential investments525Government Expenditure 925Imports 700Exports 300Proprietor’s income 300Calculate UWI Land’s GDP using the Income and Expenditure Approach

This is an exercise depends on the statement below: During covid-19 pandemic, there is a household (s) that requested financial assistance from the government and private institutions, to support their housing expenses. What do you think? Why they needs financial assistance?

11- One research is being conducted about how gold prices change due to the changing preferences of individual consumers. Research such as these belong to the study of ______________. a. International economics b. Microeconomics c. Macroeconomics d. Public economics

Question: Suppose that the marginal cost of extracting a non-renewable natural resource is MXC(Q) = 10 and the marginal beneÖt of using the resource are MB(Q) = 90Q. In the context of a static model, address the following question: Calculate the efficient value of Q if the total stock of the natural resource is Q = 50: Provide a graphical representation of the solution.   My Note: This is my first time resubmitting, I was told to confirm that MXC(Q) =10 is the correct form of the Marginal cost of extraction to answer this question correctly. I'm not sure but this is the way my professor asked his question.

COVID-19 all around the world has restricted the economic activity. To stop the spread of the virus Pakistan like many other countries adopted the policy of smart lockdown. Shutting down of the industry has created adverse supply shock in the economy. While, the slowdown in business and economic activities the country is in the recessionary phase of the business cycle as the GDP growth for the FY 2020-21 is expected to be -0.2 accompanied by high unemployment and poverty rate. Reflecting on the above situation justify whether the State Bank of Pakistan should opt for easy or tight monetary policy as a stabilization policy. Also illustrate it graphically.   2.Reflecting on the above situation justify whether the Government of Pakistan should opt for expansionary or contractionary fiscal policy as a stabilization policy. Also illustrate it graphically.

Econometrics (forecasting) topic: Explain the difference between a nested and a non-nested model? Provideexamples.

Determinant Change Needed to Increase SRASSRAS Technology       (Decline, Improvement) Input Prices     (Decrease, Increase) Tax Rates on Firms and Corporations       (Decrease, Increase)

Asking people to directly indicate their economic values in a survey is an example of what type of economic valuation?   Question 14Select one: a.   Travel cost models   b.   Contingent valuation   c.   Hedonic pricing   d.   Defensive expenditures   e.   Replacement cost methods

TRUE or FALSE 14. Urbanization and localized economies lead to resource immobility  15. The most relevant advantage of locating a firm in an Industrial District is knowledge spillover.  16. The K -12 Program added years to basic education but Philippines student learning still lags behind many East Asian countries.

Subject= Macro-Ecnomics COVID-19 all around the world has restricted the economic activity. To stop the spread of the virus Pakistan like many other countries adopted the policy of smart lockdown. Shutting down of the industry has created adverse supply shock in the economy. While, the slowdown in business and economic activities the country is in the recessionary phase of the business cycle as the GDP growth for the FY 2020-21 is expected to be -0.2 accompanied by high unemployment and poverty rate. A.         Reflecting on the above situation justify whether the State Bank of Pakistan should opt for easy or tight monetary policy as a stabilization policy. Also illustrate it graphically.    (Maximum 200 to 350 words)(Write it unique don't copy paste) B.         Reflecting on the above situation justify whether the Government of Pakistan should opt for expansionary or contractionary fiscal policy as a stabilization policy. Also illustrate it graphically.             (Maximum 200 to 350…

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2. Focusing on a single rotation model with land sale, describe the impact of each of the following parameters on the length of the efficient rotation period. Will the optimal rotation period be shorter, longer or remain unchanged?A) Increase in costsB) Increase of the social costs of harvestingC) Increase in the interest rateD) Adding the habitat value function to the overall timber value function

How do federal agencies typically value lives saved by health, safety, and environmental regulations?     A. Agencies consider medical expenses, pain and suffering, lost wages, and funeral and burial expenses     B. Agencies ask individuals how much they would pay to avoid dying and average the results for the population     C. Agencies use labor-market data to determine how much individuals are willing to pay to avoid (or, willing to accept to face) small fatality risks and use this information to generate a value of statistical life     D. (A), (B), and (C)     E. (B) and (C)