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Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.3 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent. These numbers (in bold) can be calculated by referring to 2 tables in Section 1 and the growth formula you learnt in class. a. Identify the 2 tables needed for this calculation. b. What is the formula used to compute the annual growth rate of a variable? c. Use the formula and the relevant numbers from the tables you mentioned in (a) to calculate the annual growth rate of GDP in the second and first quarter.
The Microsoft trial has been one of biggest investigations of antitrust behavior since turn of the century. Supporting the governments side research and present a cohesive argument to the other side.
"The theory of the second best leaves welfare economists 'high and dry' since not only does it abolish the established objectives of first-best situations,
Using the S/D of $ and S/D of ¥ (yen), answer the following questions. Make sure to draw both graphs. a. What happens to the p (price) and q (quanity) of $ and of ¥ when the Japanese demand more ipods b. What happens to the p (price) and q (quanity) ..
The government institutes a tariff of 100. The drives the terms of trade price down to 120. Compared to free trade, what happens to total surplus when the tariff is put into place?
The outsourcing of human resources becomes an important part of United States companies in recent years. How would you describe this in relation to company's profit maximization target?
Are there any similarities and differences between the principle of comparative advantage and absolute advantage?
Many corporation manufacture more than one product. What is the motivation to do this and explain how do rules for profit maximization differ between a single product corporation and a multiproduct corporation?
The dollar has being weaker against other currencies ever since Bush administration took office. The government did nothing to stem the refuse. From the point of view of economic policy, what would you think was the cause?
Ross Perot added his memorable "insight" to the debate over the North American Free Trade Agreement when he warned that passage of NAFTA would make a "giant sucking sound" as United State employers shipped jobs to Mexico,
Martin Feldstein and Charles Horioka of Harvard University discusses that in a world of perfect capital market integration, there should be little long term correlation in domestic saving and investment.
The European Central Bank explicitly states that its long-run inflation traget is 2%. Assume that the Eurozone velocity growth is 2% amd the average growth rate of nominal GDP in Eurozone is 3%. What would you tell the European Central Bank to en..
Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free trade. b.) Now suppose that a tariff is place on the importation of wine into the United States to protec..
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