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If the nominal GDP is $559 billion in the base year, and it rises to 577 in year 1, and 605 in year 2, what is the real GDP in each year, given that the price index has risen from 100 in the base year to 104.5 in Year 1 and up to 108.3 in Year 2?
If the price index 20 years before the base year was 41.2, and the nominal GDP for 20 years before the base year was 191.0, what was the real GDP for that year?
1. the following table shows the number of calculators that can be assembled per week by various numbers of
What is wrong with this statement: Whenever the industry fails to achieve allocative efficiency by producing too little output, the shortage arises.
Consider an electricity market with a daytime (peak-period) inverse demand of P=160-Q, and a nighttime (off-peak) inverse demand P=80-Q, where P is the price of electricity and Q is units of electricity.
john has been in the habit of mowing willas lawn each week for 20.johns opportunity cost is 15 and willa would be
The Swiss pharmaceutical global corporation Hoffman-La Roche has made a major breakthrough in the relief of a serious disabling disease that affects 3 percent of the world's population. Its new product Tigason is the first product that effectively..
What price would Soft Rock have to charge to sell 2,000 T shirts? Compute the own price elasticity of demand when the price goes from $5 to $4.
write your paper in the style of an academic journal article. the in-class readings as well as articles published in
Walt Disney World Theme Parks offer visitors a wide variety of ticket options. The one thing these ticket options have in common is that they entail a fixed entrance fee and allow customers to take as many rides as they want at no additional charg..
Analyze five reasons why demand for this product could shift and analyze five reasons why supply could shift.
The Principal-Agent Problem: You are hired as a management consultant to provide recommendations on how to stimulate productivity of the manufacturing firm that produces Printer Cartridges. Your 50% of the variable salary (consulting fee) is direc..
a taxi company currently has 9 cabs in its fleet and its total daily cost is 4750. if a taxi company adds a tenth cab
Employ the following equation to demonstrate why firm producing at the output level where MR=MC will also be capable to maximize its total profit.
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