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Consider an economy that consists of a coal producer, a steel producer, and some households. In a given year, the coal producer makes 15 tons of coal and sells it at $5 per ton. The coal producer pays $50 in wages to households. The steel producer uses 25 tons of coal as an input to production, all purchased at $5 per ton. Of this, 15 tons are from the domestic coal producer and 10 tons are imported. the steel producer makes 10 tons of steel and sells it at $20 per ton. Domestic households buy 8 tons and 2 tons are exported. the steel producer pays $40 in wages. All profits made by domestic producers go to domestic households.
a. Calculate GDP using each of the three approachesb. Calculate the current account surplus and GNP. If the coal producer is instead owned by foreigners, what is GNP?
Price benefit analysis of an irrigation project describes the ratio of the discounted current value of benefits to costs is less than one.
Compute the implied arc income elasticity of demand. Holding all else equal, would a further increase in price result in higher or lower total revenue.
Explain how the Central Bank can set the nominal interest rate in the money market. In addition, explain how it can use expansionary monetary policy to boost GDP if the economy is in a recession.
Would your answer change if you thought different German also Japanese policies may facilitate different US policies.
Based on the newspaper government spending in the US is expected to rise through $30 billion next year. One of the senators of your state is touting how this increase in spending will lead to an rise in employment and aggregate output.
Two goals of monetary strategy in the United States are price stability and full employment. Explain with the help of the appropriate graphs.
At some universities and colleges, economics professors earn hugh salaries than professors in some other fields.
The high employment deficit is estimated at $100 billion. Suppose that the ecomony is operating below full employment and that it will not overheat during year,
Assume that the exchange rate between the Canadian dollar and the Euro is 2 Euros per Canadian dollar.
Assume the Sri Lanka government awarded contracts to private companies to rebuild the countryâ.
Assume that economy starts at equilibrium and the mpc= 0.75. Determine what would be the effect of a $300 increase in government spending once all the rounds of the multiplier process are complete?
Explain is contracting a government service out to some private firm the best way. Does it make economic sense to contract out some government services.
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