What is meant by the cost of living? Describe the cost of living in the state of New Jersey.

Q: Amit is using his money to buy assets like house , commercial land and machines . Write what is he…

A: Disposable Income: Disposable income is the income that remains after subtracting the taxes and this…

Q: What would be the value of consumption if savings is $1300 and the value of Income is $2200

A: The data presented in the question above is:- Savings = $1300 Income = $2200 Consumption is to be…

Q: What are the three economic sectors? Provide explanations and examples for each. How does the United…

A: Economics as a subject deals with the allocation, production and optimization of scarce resources…

Q: The cost of living index for Indiana in the first quarter of 2021 was 89.8 whereas the cost of…

A: Given information, The cost of living index for Indiana: 89.8 the cost of living index for…

Q: What is the value of Consumption (C)?

A: Since the question you have posted consists of multiple parts, we will answer the first three parts…

Q: what is Value Added at Producer Price and Value Added at Purchaser Price.  How are they calculated

A: Value-added at producer price: The producer's prices are the prices which are received by the…

Q: Explain any two of the problems in measuring the cost of living

A: In a specific location and historical period, the cost of living is the amount of money required to…

Q: In the simple circular-flow diagram, who buys the factors of production

A: A simple circular flow diagram represents how dollars, inputs, outputs flow through the markets. The…

Q: The income of three firms in an economy in 2005, 2006 and 2007 are shown below in million nai YEARS…

A: Since you have posted a question with multiple sub parts we will solve first three sub parts for…

Q: explain the impact of a low interest rate on gross domestic product(not less than a page)

A: We can determine the impact of low interest rate on gross domestic product by taking IS-LM model. IS…

Q: In the circular flow diagram what do households do in the factor market, buy or sell? Part B. In…

A: In the two-sector circular flow of income model, there are two sectors- the households and the…

Q: What is meant by the rate of interest. How is the rate of interest determined? Explain in 500 words.

A: The interest rate represents the cost of money to a borrower and the return on invested money to an…

Q: ch the economy with its definition

A: Mixed Economy - It is the economy in which the decisions related to the economy (mainly consumption…

Q: What is standard of living? Explain one advantage and one disadvantage of using real GDP per capita…

A: Standard of living:-  A country's or nation's standard of living is a representation of the…

Q: What is meant by the term cost of living? Define and explain it.

A: Cost of living is a way to calculate the minimum amount of money required to cover basic need of an…

Q: An increase of 50 per cent in the cost of a certain consumable product raises the cost of living of…

A: The consumer price index (CPI) is used to measure the weighted basket of goods and services that a…

Q: Why does the general public often refer to the cost-of-living index?

A: The economy consists of different type of people in it. There will be some with high financial…

Q: The overall cost of living is a lot less in China than it is in the USA or Europe. Why might this…

A: In the United States for instance, you can make a considerable amount of cash, however a great deal…

Q: Definition of micro

A: In economics we study the decision of societies in the condition of scarcity, people has to choose…

Q: In January 2015, Tim's Gyms, Inc. owned machines valued at $1 million. During the year, the market…

A: Gross investment: It is the money spent on the purchase of new capital.  Net investment: It is the…

Q: The salary of a consumer increased from ¢90, 000 to ¢110,000, which represents his salary for 2021…

A: Given: Salary in 2021=90000 Salary in 2022=110000

Q: consumption per worker is increasing.

A: In the Solow growth model, steady state level is achieved when the investment and the depreciation…

Q: Is the purchase of equipment or machinery a part of consumption or investment?

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: Can a borrower become a saver?

A: The borrower can become a saver which is explained through the intertemporal budget constraint. The…

Q: Describe the service economy briefly, and the nine supersectors.

A: According to the United States Census Bureau, the service sector produces intangible goods, more…

Q: What are the three successive stages or phases in the circular flow of income

A: According to the given question Actually circular flow of income is an income which is represented…

Q: In what ways does franchising contribute to an overall economy?

A: Franchising is a process of marketing and distributing products where the owner of the business that…

Q: Calculate the value of APC when Consumption is given to be $230 and the income is $500

A: Consumption = 230 Income = 500

Q: Which category of household expenditures does the U.S. government consider to be a component used in…

A: A minimum standard of living refers to ability of an individual to acquire food, clothing and…

Q: What are the factors of standard of living?

A: The necessities, luxuries, and comfort which an individual desires to have to enjoy represent the…

Q: A firm produces and sells a good for $95. To produce this good they purchased materials for $11,…

A: Value added = Value of output - Intermediate consumption

Q: What would be the value of APC if consumption is $2000 and income is $5000

A: (Q) What would be the value of APC if consumption is $2000 and income is $5000?

Q: ose an extremely simple economy wo goods, pillows and rugs. In the Lows are produced and sold at $5…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: How to classify goods as consumption goods and capital goods? Is there any specific way to do so?

A: If the good is capable of satisfying the human wants directly then it is referred to be as…

Q: What are the major discrepancies that exist between the manufacturing activity and the consumption…

A: Lets understand the coordination between the manufacturing activity and consumption activity with a…

Q: Discuss the importance of services to the economy

A: Economy is the inter connection of different economic activities such as production, planning,…

Q: What is the result of investments?

A: The amount of products purchased or accumulated per unit of time that are not utilised at the…

Q: Define economy

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: What is the distinction between total value and unit value according to Mises?

A: The Mises is an institute that is described as a leading supporter of the world of the ideas of…

Q: Discuss wether all firms in a country will welcome a change in people’s income. MUST use examples,…

A: The markets are the place where the buyers and sellers of the goods and services tend to interact…

Q: Fill in the missing values in the table below.

A: Real gdp= Nominal gdp/ price index Nominal gdp =Real gdp× price index Price index = Nominal gdp/Real…

Q: Which category of household expenditures does the U.S. government consider to be a component used in…

A:

Q: The value of land in Manhattan was around $150 billion in 2008. Imagine that it is 1626 and you are…

A: Present value of $150 billion in 1626 is calculated as follows.…

Q: What are the three economic sectors? Provide explanations and examples for each. How does the United…

A: Economics as a subject deals with the allocation, production and optimization of scarce resources…

Q: What would be the value of consumption if savings is $1300 and the value of Income is $2200.

A: Given data: Saving is $1300 Income is %2200

Q: What is the relationship between the rising cost of living and low-income communities’ standard of…

A: The cost of living is the average amount of money that people in a certain location require in order…

Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.