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Suppose that nominal GDP was $9500000.00 in 2005 in Orange County California. In 2015, nominal GDP was $11000000.00 in Orange County California. The price level rose 2.00% between 2005 and 2015, and population growth was 3.25%. Calculate the following figures for Orange County California between 2005 and 2015.
a. Nominal GDP growth was %.
b. Economic growth was %.
c. Inflation was %.
d. Real GDP growth was %.
e. Per capita GDP growth was %.
f. Real per capita GDP growth was %
Traditional brick and mortar retail stores are losing their customer base while their online competitors are seeing phenomenal increase in the number of customers. Examine the differences and similarities (where possible) in the two modes of retail i..
DOP =Date of Purchase UP=Units Purchased CPU=Cost Per Unit 1. Solve the problem using the information given in the table and the weighted-average inventory method. Round to the nearest cent. Calculate the average unit cost. Beginning Inventory 25 Cos..
Sara Cook took an exam on entrepreneurship and business ownership. She was asked to identify which business organization in the United States has the largest number of firms and which has the largest receipts. She got an A on the exam. How did she an..
18 years ago, a certain part cost $325. The cost index was 244 and now the index is 329. What cost below is closest to the estimated current cost for the item? Item number 16 took 190 minutes to make. If the learning curve rate is 90%, how long did t..
Choose any two countries that appear to be culturally diverse. After researching about these countries through variousonline websites of your choice, compare and contrast the cultures of those countries and then indicate how cultural differences infl..
Relative to managers in more monopolistic industries, are managers in more competitive industries more likely to spend their time on reducing costs or on pricing strategies?
When wages increase, will the typical person work more or less? Explain your answer using microeconomic theory. (Note: The substitution and income effects for leisure demand are an important part of this topic).
A drought is currently affecting California, and California is experiencing water shortages. What is causing these water shortages? What are opportunity costs? What (not how much!) are the opportunity costs if the EPA were to devote 10% of its budget..
Define communication and expand on why it is important to communicate professionally in the business arena. In a second paragraph, explain how communicating professionally, helps you to improve your professional competency.
The interest earned is deposited back into the savings account at the end of each month. How much is this account worth after 24 years? Submit your answer to the nearest dollar.
Which of the following is the best example of an excise tax?
A Wall Street Journal offered the following opinion of the bond market in September 2012, when inflation rate was about 2%: “Someone buying long-term bonds yielding 1.5% or 2% and then seeing consumer price inflation of 4%, will be on the losing end ..
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