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Analysis by answering the questions below. Be sure to cite your references using APA format.
1. What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008?
2. What was national income (NI) for 2008? What does national income tell us? What is the difference between GDP and NI? How has NI changed since 2008? What caused these changes?
3. What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes?
4. Does GDP measure the well-being of society? Why or why not?
5. What was GDP in 2008 (sometimes called GSP) for your state? How does your state rate when compared to other states?
What is the Consumer Expenditure Survey (CE) How has the Survey behaved since the year 2000 What have been the causes of these changes In your response, include a graph of the CE for this period and cite your source.
What are the percentage increases in the price of food and in the price of clothing and what is the percentage increase in the CPI?
Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets. The probability of winning ..
Prepare a proposal recommending monetary policy actions designed to correct problems with spending, employment, and prices.
Discuss the criticisms leveled by so called "classical" economists at the Keynesian model described above, from the initial simplistic responses
Will there be economic profits in the long run in a monopolistic competitive market? Explain your answer. " Firms in monopolistic competition are not producing at minimum average cost. They are said to have excess capacity." Explain the statement...
Changes in the reserve ratio, open market operations, and changes in the discount rate are all tools used by the Fed to
Unemployment due to the length of time it takes to find employment upon entering the labor force or voluntarily between jobs is called
Examine the tools of fiscal policy also explain how they are used to reduce inflation or eliminate a recession.
Illustrate what is the efficiency factor. Elucidate these factors in terms of the production possibilities curve.
The supply curve shows a positive relationship between price and quantity supplied. Elucidate role does the loss of increasing opportunity cost play in this relationship? What role does profit play in this relationship.
Suppose a car wash firm that has 3 workers is able to wash 120 cars per day. When it adds one more worker, it is able to wash 152 cars per day in total. Suppose each car wash costs $15. Then the marginal revenue product for the 4th worker is ?
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