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Suppose that this year's nominal GDP is $1.6 trillion. To account for the effects of inflation, we construct a price-level index in which an index value of 100 represents the price level five years ago. Using that index, we find that this year's real GDP is $1.5 trillion. Given those numbers, we can conclude that the current value of the index is what?
Given those numbers, we can conclude that the current value of the index is
A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275. If e..
Explain in your own words "What Is The World's Happiest, Most Productive Country?" and Why? Human resources people worry a lot about worker productivity and “engagement,” a.k.a. happiness. But are the world’s happy workers the most productive?
What effects would each of the following have on aggregate demand or aggregate supply? In each case use a diagram in your notes to determine the expected effects on the equilibrium price level (P) and level of real output (Q). For each of the ec..
Describe the relevant criteria that the Australian Bureau of Statistics use to determine whether a person is ‘unemployed' and what problems do you see using this measure?
Please graph the Business Case and discuss how the components are related to an effective diversity initiative in an organization. Also, please graph and discuss the relationship between diversity, ethics and organizational performance, as reflected ..
Suppose we know that the average number of customers present in a queuing system is 10 and the average number of customers waiting in line is 4. Given that the average number of arrivals entering the system per hour is 20, determine the average time ..
How are some companies able to successfully cross generational lines to market their product?, can you name a company or companies? How do they do it?.
State and briefly explain internal and external economies of scale. Also, distinguish between two types of agglomeration economies (urbanization and localization) by giving examples of such from your general knowledge of the subject. - Justify the pr..
In retrospect, it is clear that the U.S. economy was in a precarious position in 2006. Trillions of dollars had been borrowed to buy housing on the expectation that home prices would keep on rising. In 2006 the house prices fell; what happened in rel..
Can you think of a product that is a large part of your budget where the price elasticity of demand is very low? Why is it so low? In estimating demand functions, what is the most important thing to remember? Why?
Suppose that you invested $10,000 dollars using the dollar-cost-averaging approach. Assume that on Feb-1-10, and on Feb-1-11, you purchased $5,000 worth of stock (each year). You then held the shares until they were sold on Feb-1-2014 (assume you rec..
Describe the impact of an expansionary fiscal policy in an open economy using the ISLM model and the interest-rate parity relationship. Explain what happens to output, the interest rate and the exchange rate, using the appropriate graphs to illustrat..
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