High scores to solve three Western economics problems

1.The short-term strategy of not producing anything due to current conditions during a particular period is to cease operations. The long-term decision to leave the market is to exit.

If the total revenue is less than the variable costs (i.e., the costs that change with the operation), then the business ceases for a short period of time, at which point the marginal cost of the business is equal to the average variable cost.

If the total revenue is lower than the total cost (i.e., the profit when the business is good cannot offset the loss when the business is bad), then the enterprise exits for a long time. At this point, the marginal cost of the enterprise is equal to the average cost.

If I'm a manager, I analyze the long-term benefits-costs to see if it's suitable to enter, and then analyze the short-term benefits-costs to see if it's out of business.

2.Establish coordinates with wages as the vertical axis and leisure as the horizontal axis. You can get an indifference curve.

The function is expressed as u=f(x1,x2) u is the level of utility, x1 is the salary and x2 is the leisure. The absolute value of the slope of the curve is the variable of marginal substitution rate = -x2 and the variable of x1.

It can be seen that when the income increases, the absolute value of the slope of the curve becomes smaller and smaller, that is, the curve becomes steeper and steeper. When the same salary p is increased, there is less and less leisure time t that is willing to give up.

3.Most skilled workers' wages are not affected by the minimum wage, as their equilibrium wages are much higher than the minimum wage, and only unskilled workers and young workers are paid more as a result. Because such wages do not correspond to the marginal output they provide, employers will reduce the demand for such labor supply, and such workers will increase the supply of labor.

This results in unemployment. However, it is limited to unskilled workers and adolescent workers. Bangladesh used to be plagued by child labour, and in order to make their lives better, the minimum wage was raised, resulting in widespread unemployment among child labourers and making their lives even worse.

As for the miners, migrant workers and child laborers mentioned above, because of their own human capital limitations, they will indeed face a wide range of unemployment under the minimum wage, which will make them even more miserable. But those who have been hired will have a better life, and those who have not been hired will basically have no chance of being hired again. In other words, the minimum wage law for these laborers is to satisfy the interests of the employed at the expense of the interests of the unemployed.

The first is to examine the law of diminishing marginal utility, when the marginal cost and marginal income of the bathhouse are equal, consider opening and closing.

The second way of wage and leisure substitution, because the time is fixed, when the wage is low, the increase in income will replace more leisure, so that people choose more labor, when the wage is high, the income increase to the substitution of leisure declines, people are unwilling to sacrifice leisure time for higher income, so the labor supply declines.

Third, the minimum wage tends to be higher than the market equilibrium (nonsense, if it is lower, don't set it), under this wage standard, the capitalist will reduce the employment of labor (so as to equal the marginal utility and cost of labor power), thus causing workers to lose their jobs.

I didn't plan to earn points, so I looked at the very orthodox answer upstairs, so I talked nonsense and saw if I could throw stones and attract jade.

1. Use temperature, time vs income such as regression, look at r 2 and other values, find a few dummy variables (holidays), in short, it is a set of linear algebra.

2. Use the company's labor production function, personal utility function, plus price and wage,, and make a profit max and utility max.

3. On the basis of the upstairs, discuss and discuss the issue of whether the minimum wage can be enforced. (Miners, migrant workers, illegally hired child laborers, etc.) ）

3. True/False Questions (10 questions in total, 20 marks in total.) ）

1.Since 1998, China's active fiscal policy has been a special expansionary fiscal policy under a specific environment, and it is an expansionary fiscal policy that is different from the developed countries' dual means of increasing fiscal expenditure and reducing tax revenue.

Correct 2Both monetary and fiscal policies are formulated by the ** to regulate the economy.

b.That's right.

3.As long as investment increases national income, it must increase exponentially, and this is the general principle revealed by the multiplier theory.

a.False: There are prerequisites, at least the product market should be balanced.

4.Transfers are also a component of national income when calculating national income under the expenditure method.

b.That's right.

5.An increase of $1 in transfer payments has the same impact on aggregate demand as an increase in **expenditure of $1.

b.The correct multiplier is the same.

6.The exchange rate uses the direct pricing method in China, and the indirect pricing method in the United States.

b.That's right.

7.When other factors remain constant, changes in the price level cause the aggregate demand curve to move in parallel.

a.Error Jog on the line.

8.** An increase in the rediscount rate by banks will lead to a decrease in the money supply and an increase in the interest rate.

b.That's right.

9.In an open economy, national income is reduced by the existence of a marginal propensity to import, and the greater the propensity to import, the smaller the multiplier.

b.That's right.

10.Automatic stabilizers do not fully counteract the instability of the economy.

b.That's right.

4. Concept connection questions (10 questions in total, 20 points in total.) ）

1.Tax Multiplier: (

The tax multiplier is used to reflect the relationship between tax changes and the multiples of the changes in national income caused by them. The tax multiplier refers to the multiple of the decrease (or increase) in gross national product or national income caused by the increase (or decrease) of taxes. Since tax is a deduction of taxpayers' income, the level of tax will affect investment and thus national income.

Changes in tax revenues change in the opposite direction of national income, i.e., tax revenues decrease and national income increases; Taxes are increasing and national income is decreasing. Therefore, the tax multiplier is negative. The tax multiplier also refers to the ratio of changes in income to changes in taxes.

There are two types of tax multipliers: one is the effect of tax rate changes on gross income; The other is the impact of changes in the absolute amount of tax revenue on total revenue.

2.Balanced budget multiplier: (

A balanced budget is one that increases spending and increases tax revenue by the same amount. That is, when the increase in tax revenue is equal to the increase in purchases, it is called budget balance.

The balanced budget multiplier is the ratio of the change in national income to the change in purchases or taxes when purchases and taxes increase or decrease by the same amount.

Summary. I have a Western economics question that I can't do, so please tell me about it.

Ah, let's talk about it, dear, I'll try to help.

**It has been sent, please write down the process and correct result of this question clearly, and send it over with a clear **.

Please write down the process and answer of this question clearly, and take a clear ** and send it over.

Ask for a reply. Later pro.

Then when do you write down the process and correct result of this question clearly and take a clear ** and send it over.

Is it possible now.

Dear: How's that?

Suppose that the equilibrium ** of the demand function of a consumer durable product qd=400-5p is 50, and when the demand function becomes qd=600-5p, the equilibrium ** (constant supply) will be lower than 50

b above 50c equals 50

d rises. In a certain day, the substitute ** and complementary product ** of commodity X rise, causing the demand for commodity X to change by 50 units and 80 units respectively, then under their joint action, the demand quantity of commodity X on that day - b

a 30 units increase.

b 30 units less.

c Add 130 units.

d reduced by 130 units.

The following factors cause the supply curve of wheat to shift to the left – b

a. Decline in wheat.

bImprovement of wheat cultivation techniques.

c. The cost of growing wheat has risen.

d Expected decline in wheat.

If the point elasticity at each point on the supply curve is equal to 1, then the supply curve can only be one—a

A crosses the 45 line of the origin. b

A straight line past the origin.

c A straight line parallel to the horizontal axis.

dA straight line perpendicular to the horizontal axis.

The size of the elasticity of the demand for an item depends on - d

availability of alternatives.

b Complementary **. c Income.

d All of the above are correct.

In general, the demand for commodities moves in the opposite direction to its **, this is because - c

a The role of the income effect.

b. The role of substitution effects.

c. The income effect and the substitution effect work at the same time.

dNone of the above answers are correct.

Some are not sure, C or D? ）

Between two substitutes, an increase in one of the commodities will increase the equilibrium of the other commodity (constant supply) – DA.

b down. c unchanged.

d Not sure. Between two complementary products, an increase in one commodity** will cause the other commodity** to rise, DA.

b down. c unchanged.

d Not sure. Factors that affect the quantity demanded for a good include – ABCD

a** of the product itself.

b. The income level of the consumer.

c** of related goods.

dConsumer preferences.

In general, the supply curve – AC

aLean to the upper right.

b Tilt to the lower right.

The C slope is positive.

The slope of d is negative.

When the ** of one of the two commodities changes, and the demand for both commodities increases or decreases at the same time, the cross-elasticity of the demand of these two commodities is - positive ACA.

b negative value. The CD is a bit unsure).

If the two commodities are complementary, then the difference between the demand for one commodity and the ** of the other commodity is -d

a. Reverse direction change relationship.

b. Relationship with the same direction.

c It doesn't matter.

d Difficult to determine.

3.Marginal returns are increasing.

1.According to the short-term cost curve graph, it can be seen that the average cost is rising at this time, and the marginal cost is also in the rising stage, and it is greater than the average cost.

2.If labour and capital increase by 10 per cent at the same time, output increases by 10 per cent, and output is known to increase by less than 10 per cent.

3.The calculation shows that the marginal return has increased from 23 to 65

1 All are not averages, they are marginal values. Your example is completely wrong, and I can't help you modify your example into a reasonable one. And according to the most general assumptions, k refers to capital, not technology.

In the most primitive mode of production f(l,k), there are only two factors of production: labor and capital. But if you're proficient in multivariate calculus, you'll know that adding more elements makes no difference in essence (so you can certainly add a new technical element).

This formula is easy to derive using calculus, and you can find it in any intermediate or higher economic theory, so I won't repeat it here. The key is that you pay attention to the assumptions and intrinsic implications of the theorem.

There are two key assumptions to this theorem:

1. The scale reward is constant, or in other words, the function q=f(l,k) satisfies the secondality, so that the mathematical derivation can be established;

2. The market is the only one and the most competitive market. Because it is a perfectly competitive market and satisfies the one-price law, the market ** is equal to the marginal output, that is to say, the capital return (interest rate) is MPK, and the labor remuneration (wage) MPL can be established.

Finally, this theorem is also called the product allocation net depletion theorem, why is it called that? This is because the total output of the economy is entirely divided into two elements: labour and capital. q is the total output, mpk is the capital ** (interest rate), and mpk*k is the income of capital in production; Similar MPL*L is what labor earns in production.

Q=MPL*L+MPK*K, output (under fully competitive market conditions) is fully distributed to the two elements of labor and capital, and there is no surplus.