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Assume you have collected the following data for the economy of Sunny Dayz. Use this data to calculate long-run economic growth for the economy.
Nominal GDP in 2010 was $450,725 and Nominal GDP in 2018 was $680,500. Price level grew by 4.6% between 2010 and 2018 and the population grew by 8.4%.
gricultural markets are often cited as exhibiting the characteristics of the perfect competition market structure. Does farming fit this model? Use the key word ECONOMIC NEWS in an Internet search engine (Google, Bing etc.) to locate online news sour..
Jones Auto Sales calculates its “4%” ?nancing as follows. If $3600 is borrowed to be repaid over a 3-year period, the interest charge is ($3600)(0.04)(3 years) = $432. What effective annual interest rate is being charged?
The "Artificial Intelligence (AI) Corporation" has two divisions: Manufacturing and Sales. When a new worker is hired both she and her supervisor are equally ignorant about her ability. There is no skill involved in making and marketing AI robots; ho..
In detail, explain what the difference was between the Federalists and the anti-federalists. Did the names for their factions correspond with their political
Consider two countries, Home and Foreign, in a Ricardian model. The wage rate in Home country is 5, while the wage rate in Foreign country is 10.
What curve would be shifted (demand or supply) and in what direction (left or right) if there was a decrease in the tax rate or interest income from 20% to 15%?
The supply of a good declines (shifts left). Will total revenue after the decline in supply be greater than, less than, or equal to total revenue before the decline in supply? Explain your answer. Shift left of the supply curve against a fixed demand..
What relationship, if any, exists between a firm’s market share to their average costs in a competitive market? Why might firms with cost advantage not expand indefinitely?
The hybrid model of a car averages 40 miles per gallon as compared to the regular model that gives only 28 miles per gallon. Assume that the resale value of the Hybrid model would be $500 more at the end of five years as compared to the regular model..
If the nominal exchange rate between the dollar and the euro is $1 = €0.70, and the price of an 8.4 oz. can of Red Bull is $1.75 in the United States and €1.40 in Germany, the real exchange rate between the dollar and the euro is?
Using the economist's model of choice, explain the motivation for two decisions you have made in the past year.
The U.S. cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Illustrate what effect will this have on its optimal price.
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