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Suppose the real GDP of a country increased from 2,000 billion to 2,100 billion in one year. In the same year, population growth rate was 3%. How much was the growth rate of real GDP per capita in that year?
If society wants aggregate demand to increase without changes in the price level, then there must be a)a gap between full employment and the current level of real GDP and an increase in autonomous spending b)an increase in autonomous spending
When a recession is over, do people begin to immediately feel the effects of an efficient economy? Use the experience of the most recent recession to justify your answer.
Differentiate at least two 2-year forecasts from separate sources for real GDP and Producer Price Index
During the 1990s, age cohort that grew the most rapidly was the 45-54 cohort, which has highest saving rate. Yet during that same period,
Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year then compute the optimal pricing scheme of the iPhone.
Assume labor is the only cost of production and labor coefficients (hours of labor required per unit of output) in MACONDO and KRYPTON for each good are as follows:
Why is the demand for a Mercedes more elastic than the demand for all autos? Be sure to list at LEAST two reasons for this and explain them.
Show that it is also possible that the government can give the consumer a cash grant of less than $100 (thus lowering the cost to the government) and the individual will be no worse off than under the food stamp program.
Discuss the strengths and weaknesses of such an application. In your answer, include a discussion of the three types of demands for money using the Keynesian model.
Suppose a frost kills a large portion of an orange crop, with a resulting higher price of oranges. It has been said that such an increase in price benefits no one since it cannot elicit a supply response; the higher price, it is said, simply "line..
As a manager what are various practical things you could do to raise utility for employees that also benefit the firm
"The United States can manufacture X more efficiently than can Great Britain. Yet we import X from Great Britain." Explain
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