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GDP is one of the most important quantitative measures of the health of the national economy. United States GDP statistics are among the most accurate in the world, but they still have limitations.
Explain at least two limitations of the use of GDP in aggregate accounting
A company has two plants with the following marginal cost functions: MC1 = 20 +2Q1, MC2 = 10 +5Q2 Where MC1 is marginal cost in 1st plant,
Illustrate what other economic factors are affected when taxes are raised or lowered, and how are they affected.
Draw the indifference curves map corresponding to welfare function (1) with the rate of unemployment on the horizontal axis and the inflation rate on the vertical axis.
a firm that you have done business with recently. What industry does this firm belong to For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under What are the names of other firms in this in..
Plato, a Greek philosopher who lived from 427BC to 347BC, famously wrote that, "Necessity is the mother of inventions."you agree with this statement.
a local hardware store is trying to decide whether to stay open. they have found that their industry is extremely
What implicit weight is placed on the inflation target under this rule? Discuss. Draw an IS-MP diagram but instead of the usual MP curve, graph the monetary policy rule.
How much corn will the industry be willing to supply at a price of $200? What about at a price of $250? What about $300? $350? $400? ii) Use your answers to graph the long-run supply curve for the industry, that is, the quantity of output the indus..
(a) Indicate whether this production function exhibits constant, increasing, or decreasing returns to scale. (b) Does the production function exhibit diminishing returns If so, when does the law of diminishing returns begin to operate.
Identify trends or other patterns in inflation within the an economy of your choice over the last five years using quarterly data from the Central Bank or other Government based Statistical agency websites as a source.
Making dresses is a labour-intensive process. Indeed, the production function of a dress-making firm is well described by the equation Q = L - L 2 /800, where Q denotes the number of dresses per week and L is the number of labour-hours per week.
Prior to 1999, PepsiCo did not have a product that competed directly against Sprite and had to decide whether to introduce such a soft drink. By not introducing a lemon-lime soft drink, PepsiCo would continue to earn a $200 million profit, and Coc..
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