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a) Explain how the four uses of Output help us to determine the GDP.
b) Calculate the GDP using only those numbers that may be relevant from the following numbers
Consumption $60B
Government purchases $10B
Taxes $15B
Private Sector Gross Investment $10B
Savings $10B
Imports $6B
Exports $8B
c) Explain why Real GDP is more relevant for comparing the trends in GDP than a Nominal GDP?
the present value of his endowment would be what? I know the answer is 2500, but I need to know HOW you get this?
It can produce 100 cars with 200 workers and 50 machines, or it can produce 166 cars with 300 workers and 75 machines. Would you describe the manufacturer production function as exhibiting decreasing, constant, or increasing returns to scale? Explain..
Computer software utilizes skilled labor relatively intensively.If trade between the U.S. and India is free, which good will the U.S. export and which will it import? What will happen to production of the two goods (increase or decrease) in the U...
Explain how a item might evolve from one market structure to another and what that means as to the value, competition and number for companies producing that product.
Suppose a freeze in Florida destroys part of the Florida orange crop. a. Explain what happens to the price of oranges and the marginal product of orange pickers as a result of the freeze.
Why do business departments have more money than other aepartments What economic measures can be taken to relieve the differences in salaries
Estimate the weekly sales for the typical McPablo's outlet and what is theniffent price elasticity for tacos? What is the advertising easnaty - should McPablo's raise its taco pdce? Why or why not?
questionone particularly difficult aspect of analyzing the likely effectiveness of a new benefits program lies in
1 a monopolist faces the following demand curve p222-2q. the monopolists cost is given by c2q.a calculate the
Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the price elasticity of demand equals
1.explain why the short-run aggregate supply curve is not vertical but the long-run aggregate supply curve is
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