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Which of the following items are included in the calculation of GNP in the UK, and which are excluded?
a. Work carried out at home by a housewife
b. Work carried out in the home by a paid domestic helper
c. The value of pleasure from leisure
d. Free-range, organic eggs sold in the market
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
Assume that Congress is considering imposing the 30% tariff on imported automobiles. Who would be the gainers and who would be the losers from such move?
Explain why you would be more or less willing to buy a share of Apple Computers stock in the following situations:
Graphically illustrate the impact of an open-market purchase by the Federal Reserve on the equilibrium interest rate using the theory of liquidity preference and the market for real money balances. (Be sure to label:
The following is a list of figures for a given year in billions of dollars. Calculate the GDP and NI.
The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function
Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?
How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.
A monopolist faces demand curve p = 11-Q , where Q is measured in thousands of units. Compute the firm's degree of monopoly power using the Lerner index?
Compute the income elasticity of demand for product below, by using average values for quantities and incomes.
Prepare a table/graph for inflation in "your country" (use North Korea for the country; if no data is available, use India) for about the latest ten year period for which you have data.
A Monopolist is deciding how to allocate output between two markets. The two markets are separated geographically. Demand and marginal revenue for the two markets are given by:
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