Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Discuss the nature and function of a price index, and describe the difference between nominal and real GDP, by answering the following questions:
1. Assume that nominal GDP for 2012 was $700B with a price index of 110 (using 2004 as the base year). What is the real GDP for 2012?
Remember: To compute the real GDP for any given year use this forrmula: Real GDP = Nominal GDP/Price Index x 100
2. Assume that nominal GDP for 2013 was $850B with a price index of 140 (using 2004 as the base year). What is the Real GDP for 2013?
Remember the formula: Real GDP = Nominal GDP/Price Index x 100
3. Did real GDP increase or decrease from 2012 to 2013? If it decreased, explain why? Compare your answers form question (1) and (2) above and answer question (3).
4. Why do economists use real GDP, rather than nominal GDP, to measure economic growth?
Explain how the indifference curve and budget line apparatus are used to derive a consumer's demand curve.
suppose a firm has an annual budget of 100000 in wages and salaries 50000 in materials 20000 in new equipment 10000 in
What is the minimum price at which the firm would be willing to supply a positive amount of output in the short run? Label this on your graph.
how much are households paid for providing entrepreneurial ability.
Determine the path followed by capital per worker and output per worker in the first 15 periods after z falls.
What are the terms of trade? (At what rate would you each be willing to trade?) f. Using graphs for both you and Pat, show that trade allows each of you to achieve a point on your consumption possibilities curve which is greater t..
Elucidate how might this allocation under allocation get resolved via the means suggested by the coase theorem.
In mid 1990s, Japan's annual money supply growth rate fell to 1-2 percent from an average annual rate of 10-11 percent in late 1980s. illustrate what effect this decline had on.
q.the production department of a firm reported the following information for the month of may 2005.rs. wage bill 20000
Calculate the elasticities for each of the variables. On this basic, discuss the relative impact that each variable has on the demand. What implications do these results have for the firm's marketing and pricing policies.
What price should the leader charge to drive all the small firms out of the market? Write the marginal revenue function of the dominant firm.
What is the effect of an increase in the investment rate on the level of steady-state output per worker in the Solow model? What is the effect of an increase in the investment rate on the growth rate of output per worker in the model? Illustrate and ..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd