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Assign each of the following to a category of GDP. Assume products are made domestically unless indicated otherwise:
You buy a car
A bakery buys a new oven
You get a haircut
Your town buys a fire truck
You buy shoes made in Thailand
The Federal Government builds a bridge
A private hospital buys a new MRI machine
You stay in a hotel in Italy
Identify the fallacy in the following discussion: "The effect of an excise tax on a commodity might seem at 1st sight to increase the value that buyer pay.
Go to the Bureau of Economic Analysis (BEA) website and look at quarterly data from the last few years of the National Accounts.
Consider a simple quasi-linear utility function of the form U(x, y) = x + In y. Calculate the income effect for each good. Also calculate the income elasticity ofdemand for each good. Calculate the substitution effect for each good. Also calculate..
Which of these is true about the marginal benefit / marginal cost to abatement and the total cost / total benefit to abatement graphs? (Multiple answers allowed) The graphs contain dissimilar information
Environmental protection programs are frequently designed to require all polluters to cut back emissions by a certain percentage
part-1suppose that the firm uses three inputs to produce its output capital k labor l and materials m.nbsp the firms
cemex and holcim are two cement manufacturers in durham. they produce cement and sell it into a competitive world
What is the profit-maximizing level of output? What price will the monopolist charge for the quantity in part a?
An economy has full-employment output, Yn, of 6000. Government purchases, G, are 1200. Consumption is C = 3600-2000r + 0.10Y and investment is I = 12-400r, Y is output and r is the real interest rate. Discover an equation relating national saving, S,..
(1) Suppose a store is located in the middle of Main Street, which is one mile long. Marginal transportation cost is given by t=$80 per mile round trip. The average production cost of the product sold is given by c=$32. Customers value each un..
Complete the Supply and Demand Simulation - Write a 700 - 1,050-word paper summarizing the content of the simulation, and address the following:
How could the minimum wage rate and migrant housing standards be expected to affect the prices of consumer goods? Explain, using supply and demand graphs.
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