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Questions:
What is the distinction between net investment and gross investment? Which is the total amount spent on investment in a given year? Which is the change in the capital stock?
Explain the finding that people in high-income economies seem happier than people in low-income economies, but, over time, people in high-income economies do not seem to be any happier even if their country grows richer.
Based on this information, what would be the nonpecuniary cost of legislation that would place a $1.50 cap on the fees banks can charge for noncustomer transactions?
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
Why do you suppose this happened for the East Asian NICs? In light of your answer, what do you think is likely to happen to the relative wages
What was the value of real GDP per capita? Round to the nearest whole number. Do not enter a dollar sign.
Assignment Instructions
Assume the following output-income and saving data for the private sector of the economy
What was the effect of the increase of the supply of loanable funds by the federal government? How would the real interest rate and quantity of loanable funds be in 2013, compared to their values in 2007, without the government intervention?
If average total cost is declining, then: A. marginal cost must be greater than average total cost. B. the average fixed cost curve must lie above the average variable cost curve. C. marginal cost must be less than average total cost.
List the reasons why the official unemployment rate may not reflect the true social burden of unemployment.
Did you cover all the activities in your discussion? Did you discuss which activities were easy to identify and which were difficult? Did you share what confused you for the activities you found difficult to identify?
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