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1. What economic factors are taken into account when measuring GDP?
2. What makes GDP an effective measure of living standards?
3. How might quality-of-life measures be determined and measured?
4. What aspects of our quality of life in the United States may be difficult to compare with other countries around the world, such as Japan, Turkey, or Iceland?
The world’s poorest countries are at a competitive disadvantage in every sector of their economies. They have little to export. They have no capital; their land is of poor quality; they often have too many people given available work opportunities; a..
Discuss the history of poverty in the United States from the late 19th Century through the present using exampls from each of the following categories.
A country that attempts to keep its exchange rate fixed will have a “devaluation” of its currency (or exchange rate) if persistent balance of payments deficits cause it to amass dangerous amounts of foreign exchange reserves. Would you please explain..
You are a sales manager in the electronics industry. Your firm had a salesperson in the far western U.S. who everyone thought was a high performer. List and describe five (5) pipeline analysis evaluation criteria that would have allowed you, the sale..
Because of diminishing returns to consumption, a household would be less than twice as happy if nominal income and nominal prices all doubled. an increase in the interest rate makes all households worse off. if a household is neither borrowing nor le..
Graphically illustrate the effects to total surplus of a per unit excise tax placed on an inelastic good. Make sure to clearly(i.e. remember our in-class rule for showing areas) denote which areas make the loss in consumer surplus, loss in producer s..
Question 2.2. Before Keynes, most economists and politicians believed in a cyclically balanced budget.
If GDP increases in nominal terms from $600 billion in 1994 to $663 billion in 1996 and the price index (1992 = 100) rises from 120 to 130, how much real growth (in 1992 dollars) in GDP occurred between 1994 and 1996?
The nation of Erehwon has three industries: manufacturing, agriculture and services. Each national industry has 50 million workers. Regional Consultants, Inc. (RCI) is doing an economic base study of the metropolis of Centralia, a metropolitan region..
The price of x1 is 3$ and the price of x2 is $1 and Jack has an income of $90. A) How much of each goods will he demand? A 1$ quantity tax (t) is placed on x1 so that now x1 costs $4 to Jack while his income and the price of x2 stay the same. How muc..
B would cost $1.5 and save $$400K pa. C would cost $2.1M and save $500K pa. For each of the alternatives. Construct a Choice Table based on the chosen MARR.
Apply the decision-making model developed. What are the basic steps in all types of decision making processes.
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