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A country reported nominal GDP of $35 billion in 2016 and $55 billion in 2015. It also reported a GDP deflator of 105 in 2016 and 115 in 2015. Between 2015 and 2016,
a. real output fell and the price level rose.
b. real output and the price level both rose.
c. real output rose and the price level fell.
d. real output and the price level both fell
The production function has the form Q = 50· L0,5 K0,5 Let PL = w = 5, ?K = r = 20
He also stated that the costs for chemicals, machinery, maintenance, and labor were estimated at $150,000 per year, but he forgot to list the cost for initiating the program (trucks, pumps, tanks, etc.). If the initial cost was amortized over a 10..
Describe and explain the trends in unemployment over the last year
In order to protect consumers from predatory business practices, governments in open-market economies often establish antitrust laws.
Using the intermediate macroeconomic
What is the particular form of money (M1,M2, etc.) that would be the smallest measure that includes the type of money described in the article. (For example, if the article is about cash, write "M1." Although all other forms of money include cash, M1..
Assignment - Economic growth in the Arab world: what is missing? The Role of Technological Change in Growth. What Explains Rapid Economic Growth in Botswana
Based on the Solow model, how would each of the following affect consumption per employee in the long run? Describe and illustrate your answer graphically.
Suppose that the price of gasoline at a particular station two months ago was $2.80 per gallon (keep it simple-assume one grade of gas). The past month, the price of gas was $3.10 per gallon. Assuming 20,100 gallons were sold two months ago and 20,00..
What are equilibrium consumption, private savings, public savings, and national savings - Find the equilibrium interest rate r and equilibrium level of income Y.
Discuss the effects on a country's current-account balance from the following changes in tax rates. a. A permanent increase in the tax rate on labor income and b. A temporary increase in the tax rate on asset income
Why do we use the perfectly elastic world price curve as a sort of benchmark to evaluate social wellbeing in the case of international trade and import tariff.
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