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Why do economists include only final goods and services in measuring GDP for a particular year? Why don't they include the value of used goods, i.e. cars, furniture, etc., bought and sold? Define net exports. Explain how US exports and imports each affect domestic production. How are net exports determined? Explain how net exports might be a negative amount.
You have budgeted a maximum of $250 per month for a car loan. (a) If your bank offers financing terms of 60 months at a yearly 12% interest, what is the most you can pay for a car? Do not put a $ or comma in your answer. Make sure you put interest in..
With regard to global warming policy, describe, in a short paragraph, the importance of: Discounted costs and benefits. Public goods.
Two clinics want to merge. The price elasticity of demand is -0.20, and each clinic has fixed costs of $60,000. One clinic has a volume of 7,200, marginal costs of $60, and a market share of 2 percent. What are the total costs, revenues, and profits ..
Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
Forecast Ace weather's mercury requires for January, April, July, September also December of 2007. The following actual also forecast values of mercury requires in the month of November have been recorded.
A Spanish can either produce 3 liters of win or 1 kilos of cheese. A Portuguese worker can either produce 4 litres of win or 12 kilos of cheese Which countries have absolute advantages in which goods? Which countries have comparative advantages in wh..
Calculate cost elasticity of demand for paint and show your calculations. Decide where demand for paint is elastic, unitary elastic, or inelastic.
Elucidate a personal daily struggle that is an example of the law of noncontradiction and the challenges posed to your beliefs and decisions.
The city of Greenville is concerned about rising rent for low-income households. Several policies being considered. Suppose there are a large number of construction companies, In the absence of any government intervention, what will be the long run p..
Consider an open economy in which the aggregate supply curve slopes upward in the short run. Firms in this nation do not import raw materials or any other productive inputs from abroad, but foreign residents purchase many of the nation's goods and se..
XBC Inc. is planning to buy a new car. Model A costs $22,000 and is expected to have a life of 4 years. Model B costs $35,000 but it is expected to last 6 years. Model B provides a better warranty and it will save the company an average of $1,000 per..
What are the economic and political arguments for regional economic integration? Given these arguments, why don't we see more integration in the world economy?
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