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Question: Is the GDP Still Accurate in the Digital Age?
Reply to these questions to begin your discussion:
• Should we continue to measure GDP as we do now? If you don't think it should be changed, explain your reasoning. If you think it should be changed, what changes would you recommend, and why?
A firm has the following total cost function TC(Q) = Q3- 24Q2+ 200Q + 500 - What is this firm's fixed cost?
What is rent seeking How much, potentially, might this monopolist spend on rent seeking activities Assume that they will earn the same profit you calculated in part c forever, and that the interest rate is 5%.
Create graphs and tables to illustrate costs and revenues for firms in different market structures
A hypothetical economy can be described by the Solow growth model. Answer the below questions for this economy by using the following information. What is the steady-state level of capital per worker? What is the level of steady-state consumption per..
a group may be defined as two or more people who interact with each other to accomplish certain goals or meet certain
Suppose a monopolist has to purchase new equipment and his fixed costs increase. Explain what will happen to the monopolist's profit- maximizing output.
In the short run, a permanent increase of the domestic money supply depreciates more the domestic currency relative to the foreign currency than a temporary.
What does the law of large numbers state?
What are the various ways that the default intensity parameter can be modeled in a reduced form model?
Distinguish between the terms of trade and the balance of trade. Why does the balance of payments always balance?
describe what would cause government purchases function to increase. will the change in social security spending affect
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
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