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An economy consists of a silver mining company, a jewelry manufacturer, a jewelry retailer, and households/workers. The mining company pays its workers C=400,000 to mine 150kg of silver. The silver is then sold to the jewelry manufacturer for C=500,000 who pays its workers C=450,000 to make silver necklaces, which are sold to a retailer forC=1,200,000. The retailer sells the necklaces to consumers, and after paying sales staff C=100,000 makes a pro.t of C=200,000. (a) Using the „production of final goods" approach, what is the GDP of this economy? (b) What is the value added at each stage? Calculate GDP using the „value-added" approach. (c) What are the wages and pro.ts earned by each sector? Calculate GDP using the income approach.
writenbsp700 - 1050-wordpaper of no more than summarizing the content. address the followingnbspidentify two
A monopolist has two types of customers. There are 100 Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge..
1. (1) Let y(t) be a time series with a constant mean E(y(t))=m. Show that the sample mean is an unbiased estimator for m.
the table below shows the demand and supply schedules for on-campus
If prices rise, people's income from selling goods increases. However, the growth of real GDP ignores this gain. Given this information, why do economists prefer real GDP as a measure of economic well-being
The discussionin Section3 .7 suggestst hat Give up is optimal for Rich as long as (i) Kelly is very likely to win the immunity challenge once Rich gives up and
If she apportions some resources to each, then she can produce any linear combination of chickens and potatoes that lies between those extreme points. If James devotes all his resources to growing potatoes, he can raise 80 pounds of potatoes per y..
Choose a United States multinational company. In terms of currency denomination, discuss how the company values its revenues and costs.
Identify any variables that can be rejected as unrelated to sales and explain how trailer sales vary with changes in advertising and trailer rig income.
chris has an income of 90 per month at allocate between goods a and b. initially the price of a is 3 and the price of
ssume you are a policymaker in washington dc. lobbyists for the preschoolers of america have put pressure on their
1. Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. In a paragraph, what are the efficiency and equity effects of introducing a voucher system likely to differ across these ..
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