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Consider the following data on U.S. GDP:
Year Nominal GDP(in billions) GDP Deflator(base year 2005)2009 $14,256 109.81999 $9,353 86.8
1. What was the growth rate of nominal GDP between 1999 and 2009?
2. What was the growth rate of the GDP deflator from 1999 to 2009?
3. What was real GDP in 1999 measured in 2005 prices?
4. What was real GDP in 2009 measured in 2005 prices?
5. What was the growth rate of real GDP from 1999 to 2009?
6. Which growth rate was higher between 1999 and 2009: the growth rate of nominal GDP or the growth rate of real GDP?
Explain the 4-broad categories of GDP using consumption approach. Give explained account of each component and determine the Natural Rate of Unemployment.
could you discuss that the drop in sales might be something less or something more than this. Use economic reasoning to justify your forecast.
Discuss and explain the relationship between the level of GDP and economic well-being. What factors of well-being are missing from the GDP?
Elucidate how the steepness of the short run aggregate supply curve affects the government's ability to use fiscal policy to change real GDP.
Many people find the current unemployment figures for Australia at 5.5% unbelievable. Why is this? Why might the official statistics be inaccurate
Long-run discectomies of scale over the range of output for which the long-run average cost curve is?Which of the following is always true? The law of diminishing marginal returns explains the general shape of the firms?
Using the simple Keynesian model to assess the implications for equilibrium GDP and the level of savings of an increase in the savings function. What eventually happens to the level of savings? What would happen to equilibrium income if there is a su..
Illustrate what happens to the supply curve and the equilibrium point when a new technology improves a production process.
Budweiser, Miller and Coors who together produce 80% of all beer consumed in the US, each spend well over $250 million a year on television advertising campaigns, promoting their beer brands.
In the US, steel production has remained constant since the 1970s at about 100 million tons per year. Large integrated companies, like United State Steel, remain important in the industry, but roughly 50%.
Higher unemployment caused by ression and higher prices have contributed to substantial reduction during 2008 in the number of vehicles on bridges, roads, and in tunnels.
Illustrate equations for total income also marginal income (interm of Q). what will be the total revenue at price of $ 70? what will be marginal revenue.
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