Question

cording to our discussions and data from the Wall Street Journal, people in the United States tend to have: 2. Ac More babies during an economic recession than would normally be expected Roughly the same number of babies during economic recessions and periods of economic growth Fewer babies during an economic recession than would normally be expected Abnormally large heads a. b. c. d. Which of the following best represents the idea of the marginal cost of increasing speed while driving? 3. The total amount of time it will take to arrive at your destination a. b. The amount of time saved by increasing your speed c. d. The probability that you receive a ticket for speeding The increase in the probability that you receive a ticket as you increase speed Which of the following could be considered an indirect response to incentives provided by government programs offering wage subsidies to companies that hire more workers? 4. Companies often replace more expensive full-time workers with new part-time workers (whose wages are being subsidized) Companies often hire new workers because the subsidies reduce the cost of workers Companies often decide that they do not need to hire new workers All of the above a. b. c. d. Which of the following would cause the demand curve to shift to the right in the Moscow market for Hot Pockets? 5. A decrease in the price of Hot Pockets An increase in Moscow's population An increase in the wages of workers in the production facilities where Hot Pockets are produced A decrease in the price of the "meat" used to produce Hot Pockets Any of the above could shift the demand curve to the right a. b. c. d. e.

Answer 1

Answer (2) : According to our discussion and data from the Wall Street Journal, people in the United States tend to have : c. Fewer babies during an economic recession and periods of economic growth. This tendency has been accredited to the mental status of the people during a recession. When there is an economic slowdown or a recession, the overall economy of the country starts depleting and factors of market starts declining in their own sphere. This leads to lesser production, lesser sales and lesser income. This negative economic state leads to a fear of economic future among the people. This fear impacts their sexual life also negatively, where they are not as tempted to have more babies as in normal economic conditions. This fact can be backed by the latest Wall street Journal data where it was seen that during an economic slowdown or recession, the people in United States tend to had nearly 41% lesser babies than they had during the normal economic conditions.

  Answer (3): The idea of marginal cost of increasing speed while driving is best represented by c. The probability that you receive a ticket for speeding and d. The increase in the probability that you receive a ticket as you increase speed. Marginal cost of increasing speed refers to the cost of per unit spend of petrol or diesel (the fuel used in the vehicle) , while driving. It calculates what is the gain from the per unit spend of the fuel in the vehicle. In the case of a speeding vehicle, it is evident that with increasing speed, the probability of receiving a ticket for speeding also increases, thus increasing the marginal cost per unit spend of the fuel.

Answer (4): An indirect response to incentives provided by the Government programs offering wage subsidies to companies that hire more workers is a. Companies often replace more expensive full-time workers with new part-time workers (whose wages are being subsidized). This is because, companies tend to see more profit from employing more less experienced workers than fewer more experienced workers, as they would get double benefit from it, one is that they will receive the Government subsidy and the other is the normal profit from their production , however, this must be noted here that the quality of production is directly impacted with this decision , as the less experienced workers will not be able to produce the same quality of the product in the shorter run.

  Answer (5): The factor that would cause the demand curve to shift to the right in the Moscow market for Hot Pockets is e. Any of the above could shift the demand curve to the right. A decrease in the price of the price of the Hot Pockets will tend to increase the demand for Hot pockets among the people. Similarly , an increase in Moscow’s population will also tend to increase the demand for Hot Pockets, an increase in the wages of workers in the production facilities where Hot pockets are produced will also increase the spending limit among the workers and this lead to an increased demand, similarly , a decrease in price of the meat used to produce Hot Pockets will also decrease the cost of production and this the producer may want to reduce the final price of the Hot Pockets which will also increase the demand for Hot Pockets. When there is an increased demand for any quantity, the demand curve on the graph shits towards the right.