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Artica is a nation with a simple economy that produces only six goods: oranges, bicycles, magazines, paper, orange juice, and hats. Assume that half of all the oranges are used to produce orange juice and one-third of all the paper is used to produce magazines.
a. Use the production and price information in the table to calculate nominal GDP for 2011.
b. Use the production and price information in the table to calculate real GDP for 2009, 2010, and 2011 using 2009 as the base year. What is the growth rate of real GDP from 2009 to 2010 and from 2010 to 2011?
c. Use the production and price information in the table to calculate real GDP for 2009, 2010, and 2011 using 2010 as the base year. What is the growth rate of real GDP from 2009 to 2010 and from 2010 to 2011?
For each of 31 healthy dogs, a veterinarian meas- ured the glucose concentration in the anterior chamber of the right eye and also in the blood serum. The follow- ing data are the anterior chamber glucose measurements, expressed as a percentage of..
How much revenue will the government raise by taxing Beatriz? How does that revenue compare to her economic losses? Does the new tax raise enough revenue for the government to compensate her for her loss?
A small business hires a consultant to predict the increase in weekly sales of their product when advertising is increased to $750. Over the past the consultant finds that the average spend on advertising is $500 per week and the average weekly sa..
Does the child meet the milestones and stages for the physical, cognitive, and social/emotional development? Yes/No. Explain why.
In a Good job, a qualified worker produces 100 units and an unqualified worker produces 0. There is enough demand for workers for each type of job; companies must pay what they expect the appointee to produce.
Suppose the equilibrium price in the desk lamp market is $50. How many table lamps should Scahill produce, and how much profit will he make?
Determine the capitalized cost of an expenditure of $200,000 attime 0, $25,000 in year 2 through 5, and $40,000 per year from year 6 on. Use an interestrate of 12% per year.
Suppose that congress passed a law requiring employers to provide employees full benefit of health care. What will happen to the labor market? Are you in favor of this law?
A local municipality has issued a request for proposals to conduct a feasibility study to design, implement, and sustain a recycling program in a small town. As PM, you need to develop a bar chart to assign responsibility and maintain a project sc..
Are there any differences in the eligibility requirements for TRI-enrollees based on reimbursement ability by the facility? If so, is this "fair?
Explain what will happen to holdings of bonds and money if there is an excess supply of money in the economy. What will happen if there is an excess demand for money in the economy? What will happen to interest rates in each of these cases?
What are barriers to entry, and why are they crucial to the creation of potential long-run monopoly profits? Give an example of a barrier that can lead to monopoly.
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