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The USA has the largest GDP of all nations, accounting for close to 20% of world GDP. China is 2nd, but their GDP per capita (GDP divided by total population) is much lower. Their large population is a big driver behind their growing GDP. Which nations have the highest GDP per capita? And do you feel that GDP is a good measure for the overall wealth and welfare of a country's population? What factors does GDP ignore? And what other measures can we use to measure a country's economic welfare?
Pizza has finally narrowed down to two college towns, Collegeville and University City, to open their new location this August, just in time for the fall semester. The Collegeville location requires an initial investment of $126,000, whereas Universi..
Defend your use of either monetary policy or fiscal policy to do this.
The Coppock Bank has $34,000,000 in deposits. If borrowings are $7,000,000, reserves are $3,500,000, and owner's equity is $2,000,000, what are the bank's total liabilities and net worth? A Bank can make loans when:
In determining the demand curve, we hold "other things constant." Explain what we mean by that, and why the assumption is important in the law of demand.
A nation's capital goods wear out over time, so a portion of its capital goods become unusable every year. Last year, its residents decided to produce no capital goods. It has experienced no growth in its population or in the amounts of other product..
Excise tax is collected from fishermen, who protest that y alone are bearing burden of this policy. Why might this protest be misguided.
The firm maximizes profit by producing the output level at which____. While economists can explain why there are payments for land, labor and capital, they have not been able to explain why there are profits . The demand curve facing the firm shows u..
GDP can increase from one year to the next by: Increases in prices while quantities of goods and services are constant. Increases in the quantities of goods and services produced while prices remain constant. Both prices and quantities of goods and s..
Suppose you buy a bond on March 3, 2016 for $1,000 that pays you interest at 8% annually ($80 per year). The bond you purchased matures on March 5, 2025. Next year, on March 3, 2017, you decide you want to travel during Spring Break and choose to sel..
The key condition for equilibrium to occur in a market is: Without taxes, the market price per bag of apples is $5. With a $2 tax per bag of apples, buyers now pay $5.75 per bag. What is the final price per bag of apples received by sellers?
Another attendant is so charming that whoever sees her feel immediately happier. Discuss how would this influence customer satisfaction?
What is the definition of total monetary unit in the context of economics.
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