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Assume that apples cost $1.50 in 2012 and $1 in 2013, whereas oranges cost $1 in 2012 and $2.50 in 2013. If 4 apples were produced in 2012 and 5 in 2013, whereas 3 oranges were produced in 2012 and 4 in 2013: (50p) Base year is 2012
a) If base year is 2012 then calculate real and nominal GDP in 2012 and 2013
b) If base year is 2013 then calculate real and nominal GDP in 2012 and 2013
c) Calculate economic growth rate in 2013
d) Calculate real GDP in 2013 using Chain weighted method
e) What is inflation rate in 2013 (GDP deflator)? 2. Using data from your country minimum for 10 years (Ex. 2010-2020) draw Philips Curve and explain the figure by using the theory of Philips Curve.
A government project with the objective of advancing the technological capabilities of the nuclear industry will cost $100 Million. It is believed that 80% of those funds would have come from investment and 20% from consumption. Some economists would..
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Link changes in unemployment, inflation, wages, and GDP to one another and how they impacted each other during periods of economic decline (recessions)
Suppose a company rates it employees on a 1-4 scale (with 4 being the highest rating) and the following probability distribution describes the distribution
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What happens to the efficient allocation between public and private goods as an economy becomes wealthier? Can you think of examples of public goods, the consumption of which would increase more than proportionately to the increase in income? Less th..
Firms 1 and 2 produce horizontally differentiated products. The demand for firm 1's product is given by the equation,
Need help, how can this be done as a Monohybrid Cross Punnett square
q.two dry cleaners are located on a street of length 1 addresses are numbered from 0 to 1. the marginal costs of dry
Suppose you have initial wealth of 1000, current income of 2000, and future income of 2750. The real interest rate is 10%. For each of the following consumption points, is the point on your budget line, outside your budget line (so you can't afford i..
A firm has a demand equation Q=200-5P and is currently charging $2 for its product. The firm is currently maximizing profits, and its advertising elasticity of demand is .005. Determine the firm's optimal advertising-to-sales ratio. Determine the pro..
The Physics Club sells E = mc2 T-shirts at the local flea market. Unfortunately, the club's previous administration has been losing money for years, so you decide to do an analysis of the sales. A quadratic regression based on old sales data reveals ..
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