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1)Can you provide ten possible reasons why residential will suffer due to the consequence of COVID-19? 2)More computers are produced and sold at the lower price than at the higher price
1)Can you provide ten possible reasons why residential will suffer due to the consequence of COVID-19?
2)More computers are produced and sold at the lower price than at the higher price. Does this mean the price effect doesn't apply to the supply of computers? Explain.
Supply Curve of Computers $4000 $3500 $3000 $2500 $2000 $1500 $1000 $500 SO 1000 2000 3000 4000 5000 5000 1. Use the graph above to complete the first two columns of the following table. Monthly Supply of Computers Price per Computer Quantity per Month New Quantity per month $1000 1000 2000 $1,500 2,500 3,500 $2,000 3,500 4,500 5,000 $2,500 1 4,000 $3,000 4,500 5.500 $3,500 5,000 6000
3)Which one of the following pairs of goods is likely to have a negative cross-price elasticity of demand? coffee and cream O soda and water O tea and coffee O spaghetti and ravioli tennis shoes and flip-flops U Question 38 2.5 pts If the percentage change in quantity demanded of Good B is 2% and the percentage change in the price of Good A is -10%, what is the cross-price elasticity of demand? O 0.20 -0.20 OS O!
4)Compare William McKinley’s pro-imperialist speeches with Mark Twain's anti-imperialist writings and statements.
Expert Solution
1)
Much has changed after coronavirus hit the world . Business has slowdown , people are facing lack of unemployment, financial crisis etc Covid19 pandemic is a big threat to people residing everywhere. And to the economy. The economy is coming down day by day and also the the rate of gdp is slowing down because of this pandemic. And the health of humans are hugely effected by this pandemic. There is alot of uncertainties.
The most important problem is the lack of labour for employment .
Due to the lockdown of the world wide countries the labourers have come to their hometown due to the lack of job . So even after kick starting the economy one by one there is a scarcity for labourers.
Lack of employment
Big companies are firing employees because of the lack of employment. People are not knowing what to do to take back their job.
Work from home culture
The work from home culture has evolved during the covid 19 pandemic. That has its own consequences. People are facing health related issue lie back pain and everything because of this culture .
It has effected the urban poor
covid 19 has effected the urban poor like hell due to lack of food supplies , water , and particularly the job , they are facing the issue of finance .
Real estate
The effect if COVID-19 is more for people who are earning income through real estates business . People are locked up in their own home that they are not interested in buying any land or house or anything they just want save money for the uncertainties. The sale / invome generated through real estates have gone down
After effects of COVID-19
people who have been once effected by covid 19 will face the after effects of the same . They will face troubles in breathing , lack of stamina/ energy etc
Development
lot of countries who are already developed will become developing countries after this pandemic because the gdp rate has slowed down in each and every country that it will take alot of hardwork to bring the country back into normal
Mental health
Sobmany people are facing depression due to financial crisis , that they are deciding to give up their lifes . The mental health of people are largely effected . Especially to people who are living alone . They will feel like they are alone .
2)Although more computers are sold at a lower price than at a higher price, that does not imply that price does not affect the supply of computers. Price is a deciding factor along the supply curve. Hence we find that for each of the both curves, the slope is positive and as price rises, supply rises. But among both of them, the shift of the supply curve rightwards must have been triggered by a favourable shock, such as a fall in input price, government subsidy or availability of a better technology for production.
3)
Answer
Cross price elasticity of demand measures the defree of responsiveness of chnage in quantity demnd of one good due to change in price of another .
IF the cross price elasticity of demand is negative , the goods are compliments ( they are used together ) . IF the cross price elasticity of demand is positive , the goods are substitutes .
Questino 1 . a) COffee and cream
Coffee and cream are complimentary goods . A fall in price of one of them will increase the demand of the other because they ae used together . THey have negative cross price elasticity,. Other 4 options are example of substitute goods , which have + cross price elasticity.
Question 2 .
b) -0.20
Cross price elasticity of demand = % change in quantity demanded of X / % change in price of Y
C.P.E.D
= 2% / - 10 %
= - 0.20
4)
Mark Twain's Anti Imperialist Writings: IN February 1901 North American Review, Mark Twain published "to the person sitting in Darkness", the most popular and influential anti-imperialist essay.IT was the acid indictment of the brutalities the British, French, German, Russian, and American capitalist governments were committing all over the world. The author condemned the casual atrocities to Lord Kitchener's British troops in South Africa. He also pointed out that the Americans had openly proclaimed they were adopting "Kitchener's Plan"? concentration camps?For their opponents.(Tens of thousands of Boer women and children and black Africans had perished in these camps.)
Anti-Imperialists Believed: The Atlantic Ocean provides lots of distance and securities from European powers. Because of this isolation, no European country will never interfere in our affairs, The increase in the size of the military is dangerous. Cities of European countries with large militaries have rights and freedoms than Americans, A large military is a threat to our democracy. European countries are constantly at war with each other colonial possessions. The unites States has plenty of resources within its own borders. There is no need to go abroad. If we truly believe in Democracy and that it is right for people to rule themselves, it would be hypocritical for us to control other people. Engaging in colonialism is morally repugnant and the equivalent of piracy The Anti -Imperialist league formed in 1898 to battle American annexation of the Philippines.
William McKinley: For a long time, William McKinley was considered a mediocre President, a chief executive who was controlled by his political cronies and who was pressured into war with pain by the press. Recent historians have been kinder to McKinley, seeing him instead as a decisive President who put America on the road of world power
why imperialist?
- In a week countries like pain is allowed to keep colonies in Latin America, it is only a matter of time until powerful European countries like Germany, England, and France seek colonies in or near the US
- we need to increase the size of the army and navy to intimidate European countries. This will prevent future wars
- if we took over Spanish colonies (cuba, Puerto Rico, Guam, Philippines) we could set up naval bases to protect our trading rotes and allow ships to refuel
- A war of conquest will unite the nation and creat a sense of pride among all inhabitants of the US
- Colonies would give us access to additional markets to take resources from and sell surplus products
During on that period there were those who were in favor of imperialism and those who were opposed to imperialism.the imperialist and Anti-Imperialist debate that took place during the times of Spanish American war paly a major roll on that time well maybe because we can draw parallels between those debates and debates going on today about whats American role should be in the world..and if we understood the actions we took during the Spanish American War, and the consequences of those actions, maybe understanding will help us to make better decisions and act more humanely today
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