Consumption expenditure-statistical discrepancy

Assignment Help Business Economics
Reference no: EM131112503

Using this information in the table above, what does GDP equal? Items Billion of dollars Wages 300 Consumption expenditure 350 Interest, rent, and profit 50 Statistical discrepancy 0 Government expenditure 300 Indirect taxes minus subsidies 15 Net exports of goods and services -11 Depreciation 15, how do they get that answer? Do you get anything different?

Reference no: EM131112503

Questions Cloud

Cournot oligopoly outcome and monopoly outcome in terms : What are differences between Cournot oligopoly outcome and monopoly outcome in terms of the equilibrium price and quantity? Explain why it is difficult to maintain a Cartel agreement (other than it is illegal). Explain the key differences between Cou..
Describe the free-rider problem : Your economics professor assigns a group project for the course. Describe the free-rider problem that can lead to a suboptimal outcome for your group. To combat this problem, the instructor asks you to evaluate the contribution of your peers in a con..
Find the long-run equilibrium in this market : Suppose there are 100 firms in a perfectly competitive industry. Each firm has a U-shaped, long-run average cost curve that reaches a minimum of $10 at an output level of 8 units. Marginal costs are given by and market demand is given by MC(q) = q + ..
What are the national health expenditure analysis trends : What are the National Health Expenditure Analysis trends from 1970 -2003 for Healthcare? What is the magnitude and direction of cost changes within and across each of these categories?
Consumption expenditure-statistical discrepancy : Using this information in the table above, what does GDP equal? Items Billion of dollars Wages 300 Consumption expenditure 350 Interest, rent, and profit 50 Statistical discrepancy 0 Government expenditure 300 Indirect taxes minus subsidies 15 Net ex..
Key difference in assumptions between the matrices : Fan duel and draft king (daily fantasy sports leagues) have engaged in extensive advertising over the last few months. Construct two payoff matrices showing the payoffs to the firms for two different (medium and high) levels of advertising. use one p..
Monopolist can maintain the separation between two markets : Suppose a textbook monopoly can produce any level of output it wishes at a constant MC and AC of $5 per book. Assume that the monopoly sells its books in two different markets that are separated by some distance. The demand curve in the first market ..
Increase in government spending on health care : An increase in government spending on health care is likely to shift the: A. short-run aggregate supply curve to the left. B. aggregate demand curve to the left. C. short-run aggregate supply curve to the right. D. aggregate demand curve to the right..
Compute consumption and saving in each period of life : Albert and Franco both follow the life-cycle hypothesis: they smooth consumption as much as possible. They each live for five periods, the last two of which are retirement. Here are their incomes earned during each period. For each individual, comput..

Reviews

Write a Review

Business Economics Questions & Answers

  Perform a statistical analysis

Perform a statistical analysis of its short-run production costs to estimate its total variable cost function.

  Explain how do open market operations work

Explain how do open market operations work through the fractional reserve banking system to impact the money supply and interest rates.

  Decades and continues to implement strategies

Wilson has been producing tennis racquets for many decades and continues to implement strategies that make it a leader in the tennis racquet industry. Suppose that when wilson and its largest rival, Head advertise, each company earns $0 billion in pr..

  How does the demand curve faced by a monopolist

Elucidate how does the Demand curve faced by a monopolist differ from the Demand curve faced by a perfectly competitive firm.

  What is the capitalized cost of bridge at an interest rate

The annual maintenance cost is estimated to be $100K. A major renovation at a cost of $50M is required every 100 years. What is the capitalized cost of the bridge at an interest rate of 5%?

  Perfectly competitive factor market

In a perfectly competitive factor market, a firm faces a(n):

  Describe the substitution and income effect

Consider your decision about how many hours to work. a. Draw your budget constraint assuming that you pay no taxes (and receive no subsidies) on your income. On the same diagram, draw another budget constraint assuming that you receive a 20 percent s..

  Assuming both types of taxes collect same number of dollars

Assuming both types of taxes collect the same number of dollars, a wage tax is preferable to a head tax. For a “normal” good, the income and substitution effects are not opposing forces. That is, for a “normal” good, the substitution and income effec..

  Main characteristics of a competitive market

What is the relationship between a firm's total revenue, profit, and total cost and define economies of scale and explain why they might arise. Define diseconomies of scale and explain why they might arise.

  What does the production possibilities curve represent

What does the production possibilities curve represent? discuss the implications. what are the factors of productions? What is the difference between the current account and the capital account, what is included in each calculation? are these account..

  Describe perfect competition and long-run equilibrium

Describe perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings.

  System of equations for a product

Suppose the following system of equations for a product: Solve for the socially efficient equilibrium. When P=30, what will be happening to the market? Explain.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd