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Use the following data to answer questions 1-3 (be sure to provide all calculations).
Quanity Prices
Year CD's Tennis Racquets CD's Tennis Racquets2005 90 180 $18 $1002006 100 190 $20 $110
Calculate the value of the price index for GDP for 2006 using 2005 as the base year. By what percent did prices increase?
Now calculate real GDP for 2005 and 2006 using 2006 prices. By what percent did real GDP grow?Review the GDP information for the past few years from the Bureau of Economic Analysis's Website. Provide a brief summary of the GDP trends over that timeframe and discuss two or three events which may have caused these trends.Be sure to show your work for each calculation.
The winners of the Nobel Prize in economic science were recently announced-who were they? For what contribution to our understanding of economics were they recognized?
Explain how can a domestic market be protected. If a country had protected domestic market, what would be the likely effect on its balance of trade.
Is there a parallel among diminishing marginal utility in consumption and diminishing returns in productio.
Elucidate what is the difference among real GDP and nominal GDP.
Engineers at the national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of unleaded gasoline.
According to the quantity theory of money, what is the effect of increase in quantity of money?
Submit an outline that which gives information on your article and the three general economic principles and the three to five macroeconomic indices you will be discussing in your project.
The division of taxing also expenditure functions between various levels government.
Suppose a risk-averse consumer has an initial wealth of $5,000 and a utility function U(M) √M.. He faces an 80 percent chance of losing $4000, and a 20 percent chance of losing $0.
Explain how does the Federal Reserve accomplish these goals.
Observe the characteristics which influenced the buying behavior of each person interviewed. Based on the people interviewed
In your discussion, comprise the reason for the lawsuit, the outcome of the trial and how this lawsuit affected Microsoft and consumers.
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