Which of the following is true regarding this economic model? a. The fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless.
b. In order to construct such a model, an economist would need real life data regarding countries that only produce two goods.
c. This PPF is not an economic model.
d. The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists to demonstrate key economic concepts.

Answers

Answer 1

Answer:

The statement that is true of the model is d. The fact that there are only two goods produced in this theoreticaleconomy is a simplifying assumption that still allows economists to demonstrate key economic concepts.

What are economic models ?

Economic models are simplified representations of the real world that are used to understand economic behavior. They often make simplifying assumptions in order to make the model more manageable.

In the case of the production possibility frontier (PPF), the assumption that there are only two goods produced is a simplifying assumption that allows economists to demonstrate key economic concepts such as opportunity cost and economic growth.

Option D is correct.

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Answer 2

Answer: C !!!!!!! I just took the test

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If Sam invested $3,000 and he earned $300 over six months, the principal is _____.six months
$300
$3,000
$3,300

Answers

when we say the principal amount, we are talking about the amount that was initially invested. So if we say that Sam invested 3000 in an investment opportunity and earned 300 in six months, the 3000 is the principal amount and 300 is the profit.

answer

3000

explanation

Which of the following economic terms means "the amount that firms will produce and sell at a specific price"A. supply
B. quantity supplied
c. quantity demanded

Answers

The economic term that means "the amount that firms will produce and sell at a specific price" is called quantity demanded. The definition for quantity is goods or services demanded for a specific price. The correct answer is C.

Which of the following accounts increases with a credit? A. Owner, Capital B. Prepaid Expense C. Accounts Receivable D. Owner, Withdrawals

Answers

Answer:

Explanation:

Final answer:

In the realm of accounting, the Owner, Capital is the account that increases with a credit. This is a reflection of increased business value through investment, asset acquisition, or net income. Other accounts listed either increase with a debit or decrease with a credit. Option A is correct.

Explanation:

In the double-entry bookkeeping system, accounts are either increased with a debit or a credit. The account that increases with a credit among the options provided is Owner, Capital. This is because it reflects the owner's investment into the business, an increase in business assets, or an increase in net income, all of which increase the value of the “Owner, Capital” account. In contrast, Prepaid Expenses and Accounts Receivable increase with a debit, while Owner, Withdrawals decrease with a credit.

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The charge for borrowing money is called interest. true false

Answers

the answer to your question, is true
hope this helps :D

the answer to your question is TRUE! hope we were help.

God bless you!

-vf

A value chain is ________. Select one: a. the sequence of administrative policies implemented to promote economic integration by a government b. the process of relocating manufacturing and production to valuable and cost-effective locations abroad

Answers

Answer: Option D the sequence of value-adding activities performed by a firm in the course of developing, producing, marketing, and servicing a product

Explanation:

Value chain is process used by the organizations to add value to their product which might be in the form of manufacturing, after sale service and marketing methods used.

Value chain is a procedure which has many steps and it is also a business model where the ideas are brought into action. Through value chain organization can produce efficiently at low cost. It also gives competitive advantage for the business as it increases the productivity at reduced cost.

Which of the following would shift the demand for dollars in the market for foreign currency exchange to the right? a. foreign citizens want to buy more U.S. goods and services at a given exchange rate
b. foreign citizens want to buy fewer U.S. goods and services at a given exchange rate
c. foreign citizens want to buy more U.S. bonds
d. foreign citizens want to by fewer U.S. bonds

Answers

Answer:

The correct answer is option a.

Explanation:

An increase in the demand for dollars will shift the demand curve to the right, in the market for foreign exchange. Dollars are demanded by foreign consumers to pay for the import or purchase of US products.

An increase in the demand for goods and services by the foreign producers will increase the demand for US dollars as well.

This will cause the demand for dollars curve to shift to the right. This rightward shift in the curve will increase the value of US dollars in the foreign exchange market.

Answer:

They make trade easier and more efficient.

Explanation:

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