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Question 1a) Give the definition of GDP and explain what items are not included in its calculation?b) How is GDP calculated using the expenditure approach?c) How is GDP calculated using the income approach?
Question 2Assume that an economy is initially operating at the natural rate of output (HI employment output). Use the AD-AS model to illustrate graphically the effects on price and output of an increase in government spending. Explain your assumptions with respect to the range of aggregate supply of your analysis.
Question 3Explain in detail the process of Monetary Policy transmission of a decrease in the cash interest rate. Use relevant graphs to describe how a Central Bank's action on the interest cash rate ripple through the economy and lead to the target policy goal. (Three connected diagrams should be used: (I) money supply and demand (2) investment demand schedule (3) AS/AD diagram. Interest rates is the variable that connects the first and second diagram).
Question 4Using the World Bank's World Development Indicators database
a) Complete the following table.
2006
2009
2012
2018
GDP per capita (current)
Australia
China
India
US
COP growth rate
U.S.
Inflation rate
b) Produce a plot for each variable (GDP, gdp growth inflation) comparing the four countries.c) What can be inferred with respect to economic growth and price control in each of these economies?
Please describe how you have prepared for your intended major, including your readiness to succeed in your upper-division courses once you enroll.
Compare the consumer surplus, producer surplus, and total surplus in this condition to those same measures in a perfectly competitive market.
The three types of economic systems are Market Economy, Mixed Economy and Planned or Controlled Economy. How does each handle the issue of Scarcity? How does each system answer What, How, and For Whom questions?
Which situation will derive more meaningful data?
An asset for drilling was purchased and placed in service by a petrolium production company. it cost basis is $60,000 and it has an estimated MV of $12,000 at the end of an estimated useful life of 14 years.
We explained how a central bank has an important role in maintaining confidence: "High confidence" keeps velocity growth and the money multiplier from falling.
Financial statements are important because they are the means by which financial managers track their organizational performance, identify problems.
sing Total Expenditures, the money market, and the investment market, explain and graphically depict the effect of an increase in the money supply on the level of output and the interest rate.
Identify five companies that are in this space, competing for dollars from the same customers. Make sure that at least one company is a national company and and at least one is Miami-based.
Best Buy stocks two types of merchandise: a private-label portable DVD player and DVD disks as a complementary good for the DVD player.
What is meant when economic just say that the Federal Reserve Banks are central bank, quasi-public banks, and bankers Bank's? What are the seven basic functions of the Federal Reserve System?
Examine the impact of persistent budget deficits on the trade deficit
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