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Economists use Gross Domestic Product (GDP) to measure the economic activity and the national income.
What are the major components of the USA GDP? Explain the contribution of each component to the GDP with data.
What is the difference between real Gross Domestic Product (GDP) and nominal GDP? What is the relationship between the real GDP and the business cycle?
what he has learned to estimate the demand for ice cream in his father's parlor during his summer vacation. Using regression analysis.
Describe the concept of opportunity cost with example. What would be your opportunity cost of taking on-line classes to get a degree at your University as compared to taking classes at traditional day schools at your University?
A volunteer fire department anticipates purchasing a fire truck in 3 years. Today it will cost $625,000 but the cost is increasing to 4% per year. Find the semi annual payments needed to accumulate funds to purchase the truck if funds earn 6% compoun..
A movie theatre has a cost function which entails the rent of the commercial building of $50 per day (fixed cost) and a marginal cost of $5 per viewer. Assume now that the movie theatre can give price discounts to students. Explain the concept of pri..
q.assume an industry is composed of the following eight firms.company market sharefirm a 30 percent firm b 25 percent
The long-run market supply curve in a competitive market will
q.a purely spirited wheat farmer can sell any wheat he grows for 20 per bushel. his 5 acres of land show diminishing
Suppose that the nonlinear price discriminating monopoly in panel a of figure 12.4 can set three prices, depending on the quantity a consumer purchases. Where Q is its quantity, p is its price, and A is its level of advertising. Its marginal cost of ..
Austin, a US Crude Company engineer recommended that US Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Austin's recommendation, US Crude purchased the tool for $300,000 on Januar..
Red Ball Production's taxable income in 2005 was $500,000. Illustrate what amount of state income tax did Red Ball Productions owe.
What could be the full increase in real GDP from the change in government spending assuming that the aggregate supply curve is horizontal across the range of GDP being considered.
Which one of the following is true? Nike has a less elastic demand curve than shoes. Cigarettes have a more elastic demand than televisions. Salt has a less elastic demand than ice cream. The demand curve for gas is more elastic in the short-run than..
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