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What is the significance of the production barrier?
(a) What are some goods and services that National Accounts treats differently? How has this evolved over time?
(b) How has GDP traditionally treated the informal sector of the econ-omy? How would one measure output in this sector for alternative treatments? What would be the best guess at the effects of adding the informal sector to GDP?
(c) How does GDP account for household production? How can it be measured outside GDP? What conclusions can be drawn from these measures?
Provide comment on the relative merits of increasing excise taxes compared to imposing a minimum price on alcohol products for reducing alcohol consumption.
How can Economic Value Added (EVA) statements be used to improve financial statement reporting, results, and success? What are some problems found with EVA?
Consider a production function of two inputs, labor and capital, given by Q=( L^1/2+ k^1/2 )^2 The marginal products associated with this production function are as follows:MPL=[L^1/2+K^1/2]*L^(-1/2)MPK=[L^1/2+ K^1/2]*k^(-1/2)Let w =2 and r = 1.
Suppose your parking lot has two different customers who use it at two times. Daily commuters use it during the daytime, adnsports fans use it at different times to park at sporting events.
You may use the company you used for the Week 3 Learning Team assignment or you may select a new organization. Your selected organization must be submitted for instructor approval.
Compute an approximation using blocks of 10 wolves and compute an exact value by finding the total area under person 1's demand curve.
Find an example of price discrimination and report at least two prices for the same product that demonstrate this price discrimination. Describe the different markets, indicating how they are able to be separated. Is the distinction of one market fro..
What is the best practices frontier? How does this relate to competitive advantage? Explain why rent seeking competition tends to dissiapte rents-to drive them down so that there are no abnormal rents?
What happens to the aggregate demand curve after the refund? What happens to the price level after this change? Is real wealth increased or decreased as a result of the refund?
The maker of a leading brand low-calorie microwave food estimated the following demand equation for its product using data from 26 supermarkets around the country for the month of April:
The existence of only three big U.S. auto manufacturers is evidence that the market structure is anti-competitive and that antitrust laws are being broken. Measure this assertion.
You win a lottery. You have the choice of two ways to be paid. If you pick Payout Scheme X, you get $2,750 today. If you pick Payout Scheme Y, you get three payments: $1,000 today, $1,000 one year from today, and $1,000 two years from today. Which ch..
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