The Core Elements Of The Growth Employment And Redistribution (GEAR) Strategy Of The South

Get college assignment help at Smashing Essays The core elements of the Growth Employment and Redistribution (GEAR) strategy of the South African government in 1996, under the leadership of the then finance minister Trevor Manuel were amongst other things:  budget reform to strengthen the redistributive thrust of expenditure  monetary policy to prevent a resurgence of inflation  a reduction in tariffs to contain input prices and facilitate industrial restructuring, compensating partially for the exchange rate depreciation 1.1 With reference to the above, identify the macroeconomic objectives in these elements. (3 marks) 1.2 Identify and define the macroeconomic variables that can be used to measure whether the strategy was successful or not. (6 marks) 1.3 With each tool in 1.2, provide a detailed explanation on how it can be measured. (11 marks) END OF PAPER MODULE ECONOMICS 1B TOTAL MARKS 20 MARKS

Consider A Price-taking Charcoal Producer That Charges $20 Per Unit And, Considering Private Costs

Consider a price-taking charcoal producer that charges $20 per unit and, considering private costs only, decides to produce 4000 units. However, the production of charcoal leads to pollution, which causes social costs beyond private costs. If the firm produces the 4200 units, marginal social cost (which includes private and social costs) is $24. A government economist studies the situation and determines that, when the social cost of pollution is considered as well, 3000 units should be produced instead of 4200. At 3000 units, the private marginal cost is $17.50. Calculate the decrease in cost to society that will result when the quantity produced falls from the level calculated using only private costs to that recommended by the economist. Calculate the reduction in total spending that will result when the quantity produced falls from the level calculated using only private costs to that recommended by the economist. The book and our PowerPoint says that the economy generally gains when the quantity that should be produced is determined using both social and private costs. Show mathematically why this is so.

Microeconomics You Are To Write A Short (3-5 Page) Research Paper Answering The Question

Microeconomics You are to write a short (3-5 page) research paper answering the question “Is it worth going to college?” You will need to compare benefits and costs in order to come up with your conclusion.   Paper Requirements: APA Format Minimum of Three Sources

QUESTION 1 An Amount Of Money That People Would Be Willing To Pay To

QUESTION 1 An amount of money that people would be willing to pay to purchase a good or service, less the amount they actually pay is called_____: A. economic surplus. B. social surplus. C. producer surplus. D. consumer surplus. 1 points    QUESTION 2 Economic demand is most clearly understood as the relationship_____: a. between the price of a good or service and the quantity that consumers are willing and able to purchase at each price. b. between the quantity supplied and the price people are willing to pay for the supply. c. between the average price of a good or service and the quantity demanded at that price. d. between the income a person has and the price of a good or service the person will pay to purchase it. 1 points    QUESTION 3 All of the following are non-price factors that influence demand except_____: a. consumer income. b. consumer tastes and preferences. c. quantity supplied. d. prices of related goods. 1 points    QUESTION 4 Economic supply is most clearly understood as the_____: a. the quantity supplied. b. the amount of a good or service a producer is willing to sell at a particular price. c. the cost of producing a good and the market price. d. the inventory of a business operation. 1 points    QUESTION 5 Which of the following illustrates a derived demand? a. The demand for computer technicians falls as the demand for computers falls. b. The demand for computer technicians rises as the demand for pencils rise. c. The demand for tax accountants falls as the demand for law clerks falls. d. The demand for tax accountants rises as the demand for legal secretaries rise. 1 points    QUESTION 6 An interest rate is most clearly understood as_____: a. an amount paid to buy an interest in a company. b. a rate of return on an investment. c. the price of lending in the financial market. d. all of the above. 1 points    QUESTION 7 If the wage for computer technicians drops, what will likely soon happen to the quantity supplied of these technicians? a. It stays the same. b. It falls. c. It rises. d. None of the above. 1 points    QUESTION 8 If the government passes a law on the maximum price and apartment owner can charge for each unit of the apartment, which of the following is likely to occur? a. The number of units demanded will soon fall below the amount supplied. b. The number of units supplied will increase. c. The number of units offered for rent will be upgraded. d. The number of units demanded will soon rise above the amount supplied. 1 points    QUESTION 9 Which of the following statements is correct? a. A change in demand is caused only by a change in price. b. An increase in supply combined with a decrease in demand raises the equilibrium price. c. A decrease in price and the qauntity supplied will take place whenever the price moves above equilibrium. d. A shortage of the quantity supplied has no impact on the equilibrium price. 1 points    QUESTION 10 Other things being equal, the higher the price of a good, the_____: a. smaller the quantity demanded. b. larger the quantity demanded. c. smaller the relative price. d. larger the relative price.

Using The Concept Of A Dominant Strategy, And Nash Equilibrium, Explain Why Cartels Are

Using the concept of a dominant strategy, and Nash equilibrium, explain why cartels are difficult to maintain. What factor(s) makes it easier (or make it more difficult) to maintain a cartel? (Hint: Remember the example of “Cell phone duopoly in Smalltown” in the lecture.)

1. A Monopolist Has Average Cost AC = .2Q – 4 100/Q And

1. A monopolist has average cost AC = .2Q – 4 100/Q and marginal cost MC = .4Q – 4. Market demand is Q = 44 – P, implying that the firm’s marginal revenue is MR = 44 – 2Q. Its profit-maximizing output is a. 92 b. 46 c. 40 d. 20 2. Consider the same monopoly situation as in the previous question. The firm’s profit will be a. 760 b. 660 c. 830 d. 380

The Prisoners’ Dilemma Is So Named Because The Nash Equilibrium Is One Of The

The Prisoners’ Dilemma is so named because the Nash equilibrium is one of the worst outcomes for the players. the game has no Nash equilibrium. the game is zero-sum. players end up earning a lighter sentence than the prosecutor would like.

Assume You Initially Sold Hats At $20 Per Hat, And At That Price, Consumers

Assume you initially sold hats at $20 per hat, and at that price, consumers bought 10 hats per week. You decide to raise the price to $25, and at that price, consumers buy 6 hats per week. Is this a decrease in demand? Explain why or why not?

Explain The Kind Of Economic Goods That Are Hot Dogs And Hot Dog Buns

Explain the kind of economic goods that are hot dogs and hot dog buns are with respect to each other, and then explain what is likely to happen to the demand for hot dogs when the price for hot dog buns decreases.

In Terms Of Making Purchases, What Is Necessary For An Entire Demand Schedule To

In terms of making purchases, what is necessary for an entire demand schedule to change for any given product?

1. Explain The Impact Of The Lump Sum Tax Through The Use Of An

Get college assignment help at Smashing Essays 1. Explain the impact of the lump sum tax through the use of an MPS of 1/5 and 1/4 on the domestic economy.

Suppose Demand And Supply Function For The Laptops Are Given As Below: Demand: Q

Suppose demand and supply function for the laptops are given as below: Demand: Q = 40 – 0.02 P Supply: Q= -10 0.02 P e. Find the consumers’ surplus, producers’ surplus and deadweight loss (DWL) in part d.(the price is equal to 1300 dollars) f. Government thinks the market price is too high, so they set the maximum price to charge. The government regulated price is 1100 dollars. Will be there excess supply or demand? What is the value? Show it on the graph. g. Find the consumer’s surplus, producers’ surplus and deadweight loss in part f. h. Comparing part e and f with part c, what economic intuition do you get? (In part e, CS=4900, PS=6300, DWL=50. In part f, the price equals to 1100 dollars, then QD=18, QS=12. In part c, CS=5625, PS=5625)

What Are The Risks Of Posting Information On Social Media For Advertising, Marketing, And

What are the risks of posting information on social media for advertising, marketing, and sales? Provide examples.

Suppose The Price Of Good X (Px) Was $11 And That The Demand Function

Suppose the price of Good X (Px) was $11 and that the demand function for Good X is given by: QDx = 68-2Px. Calculate the quantity demanded of this good.

Respond Substantively And Directly A. From A Purely Economic Stand Point Of View Should

respond substantively and directly A. From a purely economic stand point of view should the government impose price floors on wages, otherwise known as minimum wage? What are pros and cons of doing if so do the pros outweigh the cons? Minimum wage happens to be the most talked about and common price floor. But lets go into more detail what would happen if we raised the minimum wage to about 15/hour mind you this would technically be a livable wage at this current time frame. But theres an affect of this if it happened the cost of living then would raise the basic necessity’s would rise to more than a livable amount such as gas groceries . Another big con is businesses could not afford to keep people employed they would look for other alternatives which some businesses already have such as walmart, kroger all have self service check out lanes. What we need to is lower the cost of basic necessity’s such as rent/ mortgage, gas, utilities, food.. The cons defiantly outweigh the pros of this particular dicussion know one would come to any sort of agreement on what to really do about the crisis. B. Which of the following statements is true, and why. I believe that indeed supply creates demand but that means a low or small supply of a particularly popular item leads to high price increase. C.  If you were an employer, would you be more inclined to pay higher wages or lower wages for highly skilled laborers when the quantity supplied of such workers is in surplus? Why? What impact does the skill level of the workers have in this regard? I do not necessarily think i would pay the highest wages or the lowest i would reward decent wages to those who have the experience and give them positions in a leadership roles and offer good benefit packages to those. They are more beneficial to a company if they can train low end skilled workers and help them grow to be good experienced employees in the long run. Typically the highly skilled have been doing it for 25 plus years and they are a dying breed we have to be able to train the younger to do a good quality job like the older set can…

Transport Economics Discuss How The Congestion Management Process Could Be A Viable Technique To

transport economics discuss how the congestion management process could be a viable technique to address these issues in the metropolitan cities within your province

1.This Question Asks You To Consider The Market For Vitamins In The United

1.This question asks you to consider the market for vitamins in the United States. For this question, please assume that there are many small vitamin manufacturers in the U.S. market, so that the market is perfectly competitive. a)Begin by depicting the market for vitamins in long-run equilibrium.  Using two diagrams, one to represent the market for vitamins, and a second to represent the costs of a typical vitamin manufacturer, illustrate the current price, quantity and profits of a typical vitamin manufacturer.   b)Suppose that the recent health care reform includes a provision providing substantial insurance premium discounts for any U.S. citizen who takes a daily vitamin.  Show how such a mandate affects the short-run market equilibrium, price, and profits of a typical vitamin manufacturer.  Using one diagram for the vitamin market and a second for a typical firm. c)  Will the scenario you have described in part (b) be a stable long-run equilibrium?  Why or why not?  Once again using separate diagrams for both the industry and a typical firm, illustrate the new long run equilibrium for the vitamin market. d)To avoid the possibility you discuss in (c), the vitamin industry has proposed a licensing scheme.  Only licensed vitamin manufacturers will be allowed to sell vitamins in the United States, and the number of licenses available will be limited. How would such a licensing requirement affect your answer to part (c)?  Why?

The Response Of The Economy To Fiscal Policy A. Use The IS-LM Diagram

The response of the economy to fiscal policy a. Use the IS-LM diagram to show the effects of a decrease in government spending on the equilib- rium output. Can you tell what happens to investment? Why? Now consider the following IS-LM model: C = c0 c1(Y−T) I = b0 b1Y−b2i Z = C I G i=i b. Solve for the equilibrium output when the interest rate is i , this rate is determined by the central bank. Assume that c1 b1 < 1. c. Solvefortheequilibriumlevelofinvestment. d. Let’s go behind the scene in the money market.Use the equilibrium condition in the money market M = d1Y −d2i, to solve for the equilibrium level of the real money supply when i = i. How does P the real money supply vary with government spending? 2. Suppose the nominal policy interest rate in New Zealand is 1.5% (recall that this rate is called Official Cash Rate or OCR), it is risk-free. The expected inflation rate is 1.7%. Further suppose that the nominal interest rate at which New Zealand businesses can borrow is 4.7%, please call this rate the nominal borrowing rate. a. Calculate the exact real policy interest rate and the approximate real policy interest rate. b. Calculate the exact and approximate real borrowing rates? c. How much is the risk premium in the borrowing rate?Use the nominal rates for this calculation. d. Suppose that the risk premium arises entirely from the default risk,calculate the default probability of business loans, implied in the interest rates.

Please Provide Accurate Answers To The Followings With Appropriate Graphs: Please Write Your Responses

Please provide accurate answers to the followings with appropriate graphs: Please write your responses clearly and elaborate your answers with graphs and equations to get full credit. PART A Q.1 The following table gives the short-run and long-run total costs for various levels of output of Consolidated National Acme, Inc. Q 0 1 2 3 4 5 6 7 TC 1 0 300 400 465 495 540 600 700 TC 2 350 400 435 465 505 560 635 735 Which column, TC 1 or TC2, gives long-run total cost, and which gives the short-run total cost? How do you know? Explain. Use the column which you identify in question 1 a) as the short-run total cost column to find the short-run total fixed cost, total variable cost, average fixed cost, average variable cost, and Marginal cost for each level of output in the table below. Q 0 1 2 3 4 5 6 7 TFC TVC AFC AVC MC Plot the data in question 1 b) and draw the curves for TFC, TVC, AFC, AVC, and MC. All the curves should be clearly drawn and labeled properly to get full credit. Why the average cost and marginal cost are curves U Shaped? Discuss the relationship between the average and marginal cost.

I Want You To Please Give Accurate And Detailed Answers With Necessary Graphs :

I want you to please give accurate and detailed answers with necessary graphs : Instructions: Please write your responses clearly and elaborate your answers with graphs and equations to get full credit PART B Case Study: Perfect Competition in the Credit Card Industry In 1997, over $700 billion purchases were charged on credit cards, and this total is increasing at a rate of over 10 per cent a year. At first glance, the credit card market would seem to be a rather concentrated industry. Visa, MasterCard, and American Express are the most familiar names, and over 60 per cent of all charges are made using one of these three cards. But on closer examination, the industry seems to exhibit most characteristics of perfect competition. Consider first the size and distribution of buyers and sellers. Although Visa, MasterCard, and American Express are the choices of the majority of consumers, these cards do not originate from just three firms. In fact, there are over six thousand enterprises (primarily banks and credit unions) in the US that offer charge cards to over 90 million credit cardholders. One person’s Visa card may have been issued by his company’s credit union in Los Angeles, while a next-door neighbor may have acquired hers from a Miami Bank when she was living in Florida. Credit cards are a relatively homogenous product. Most Visa cards are similar in appearance, and they can all be used for the same purposes. When the charge is made, the merchant is unlikely to notice who it was that actually issued the card. Entry into and exit from the credit card market is easy as evidenced by the 6000 institutions that currently offer cards. Although a new firm might find it difficult to enter the market, a financially sound bank, even one of modest size, could obtain the right to offer a MasterCard or a Visa card from the present companies with little difficulty. If the bank wanted to leave the field, there would be a ready market to sell its accounts to other credit card suppliers. Thus, it would seem that the credit card industry meets most of the characteristics of a perfectly competitive market. Please read the case study above on Credit Card Industry and answer the following questions. What are the characteristics of perfect competition that are exhibited by the credit card industry? Discuss the price and output condition of perfect competition. How can credit card companies bring in the elements of monopolistic or imperfect competition in this industry? And what strategies could the credit card companies use to turn this market into an oligopolistic market? Thanks very much in advance for taking the time to give accurate answers!

Regression Analysis By Piketty And Saez Showed The Absence Of A Correlation Between Income

Regression analysis by Piketty and Saez showed the absence of a correlation between income inequality and economic growth is robust. Its also been showed income inequality and taxation are strongly correlated. Is it fair to speculate that economic growth and taxation are not correlated?

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