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Suppose the following data describe output in two different years. Item Year 1 Year 2 Apples Bicycles Movie Rentals 20,000 @ 25¢ each 700 @ $800 each 6,000@ $1.00 each 30,000 @ 30¢ each 650 @ $900 each 8,000 @ $1.50 each
(a) Compute nominal GDP in each year.
(b) By what percentage did nominal GDP increase from Year 1 to Year 2?
(c) Now compute real GDP in Year 2 by using the prices of Year 1.
(d) By what percentage did real GDP change from Year 1 to Year 2?
A linear trend equation for sales of form Qt = a + bt was estimated using yearly sales information for the period 2000 - 2007. The results of regression are given below:
If a corporation operates in a highly competitive industry and competes against many other companies. In the last some years, many new companies have entered the industry and firm now earns a return on investment very close to prevailing interest rat..
Let X denote the reaction time, in seconds, to a certain stimulus and Y denote the temperature (F) at which a certain reaction starts to take place. Suppose that the two random variables X and Y have a joint density function f(x,y)= y, 0
The given information is the quarterly sales of gasoline in the U.S. in millions of barrels during part of the 1980s and the 1990s. Determine the linear trend and use it to forecast sales for first quarter of 1992.
Discuss the current United States Federal Budget and what are the major categories of expenditures? What has changed since 2005? Explain your reasoning.
Suppose that the inverse demand function for renting a beach-front property in Ocean City, New Jersey, during the first weel of August is p=1,000 - Q + Y/20, where Y is the median annual income of the people involved in this market, Q is quantity,..
The information in the table given below are the results of a random sample of current home sales in your neighborhood that your boss has asked you to use to estimate relationship in selling price of house and number of square feet in it.
What is the sample standard deviation of weights and calculate the change in weight
Construct and show a gross margin budget for the activity. Construct and show a whole farm budget. Advise the farmer on the current and future profitability of the farm and possible options to improve performance.
What is the optimal price of the textbook from the author's point of view and by how much would the demand for the textbook change if advertising were increased by 2%?
Derive the law of motion of capital per worker and draw the graph of the law of motion of capital per worker, and indicate the steady state.
State what is its distribution under the null and why and explain the conditions under which you would reject H0
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