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Problem
1. The concept of GDP is used by policy makers for many purposes that include keeping track of the growth of our economy and forecasting a recession; but it is also abused by some. Discuss some of the applications of GDP which may be considered improper use or abuse of the concept.
2. "Even though the Great Recession officially ended, the unemployment rate is still considered high." Discuss.
3. Discuss how the distribution of income among various groups of income earners have changed in this country during the past 50 years. In your opinion, do we need to initiate any policy to address the distribution of income? Make sure you provide references to any conclusions you arrive at.
The supply of loanable funds will shift to the right if either: A) Tax reforms encourage greater saving or investment tax credits were increased B) The budget deficit became larger or tax reforms discouraged savings C) The budget deficit became large..
Each line of a 3-phase system is suspended by a string of 3 indentical insulators of self-capacitance C farad. The shunt capacitance of connecting metal work of each insulator is 0·2 C to earth and 0·1 C to line.
A geomatics engineer wants to purchased a highly accurate GPS surveying system. The unit costs $36,000, has a useful life of 5 1/2 years, and can be sold at the end of its life for $3,000. In addition, a maintenance and supplies payment of $1500 w..
If a country has a current account deficit, this is often referred to as a situation where the country is “spending beyond its means.” What does this phrase mean in terms of the simple Keynesian model? Does the existence of the current account defici..
Larry receives a scholarship to attend the local college. The scholarship terms provide $7,000 for tuition, books, and related expenses for the academic year
What are 2-3 relationships between the economic concern you selected and that specific country's economy? What trends do you see in the data sets?
Consumption is $6 trillion, investiment is $2 trilion and government purchases are 2.5 trillion. The country exports $1 trillion and imports 1.5 trillion. Find the net exports and solve for the level of aggregate demand.
Discuss the impacts that entrepreneurship and creative disruption have on existing organizations and the workforce (i.e. machines replacing workers, new skills required due to technological innovation, etc.). Should entrepreneurs be concerned with..
Using aggregate supply and aggregate demand examine, describe what effects, if any, the following changes have on each nation's Price Index and real GDP.
Explain why factors that are not part of the calculation of the Gross Domestic Product (GDP) can be important exclusions that have important meaning for understanding domestic macro-economics.
assume that joe derives utility based on the following utility function uxy x10.6 x20.610.6if joes income is 5040 a
China's Thirst for Gas: Hurricanes in the Gulf of Mexico, deteriorating pipelines in Alaska, and conflict in Iraq can cause gasoline prices to rise.
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