Real gdp in the current year equals to what

Assignment Help Econometrics

Reference no: EM13214169

Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each unit of E. Base-year prices are $1 for each good. Real GDP in the current year equals _________ and GDP equals _____.

Reference no: EM13214169

Questions Cloud

What is the optimal level of advertising : Company Y is a monopoly industry. Its contribution margin is estimated at 20% (P-MC)/P = 0.2). From past experience, the owner has determined the following relationship exists between expenditures on advertising and total sales

Compute the volume and density of titanium : then dried the flask and added some pieces of titanium to it. the stoppered flask plus the titanium weighed 64.763g. then filled the flask w/water, leaving the titanium pieces in the flask, and found a mass of 67.561g for the flask plus titanium a..

Explain combustion reaction to producee calcium hydroxide : Calcium Oxide reacts with water in a combustion reaction to producee calcium hydroxide: CaO(s) + H2O(l)----> Ca(OH)2(s)

Explain a sample of chlorine gas at a pressure : A sample of chlorine gas at a pressure of 420 mm Hg and in a volume of 3.50 L was heated from 18.0oC to 45.0oC after being transferred to a container of volume 2.35 L. The pressure in this new container should be about

Real gdp in the current year equals to what : Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each..

Explain what is the empirical formula of the compound : the combustion of a 0.519 g sample of the compound yields 1.24 g of CO2 and 0.255 g of H2O. What is the empirical formula of the compound?

Is the industry in long run equilibrium at the price : Below is a table with total data for a firm in a perfectly competitive industry. Quantity Total Cost 0 100 10 220 15 300 20 360 25 450 30 600 35 770 40 960 a. What is the marginal cost and average total cost for the firm at each level of output

Explain the longest wavelength in nm of light necessary : eject electrons from a mixed alkali metal photocathode, what is the longest wavelength in nm of light necessary to eject these electrons by the photoelectric effect?

What is the profit maximizing level of advertising : Smith Corp. has determined that its contribution margin, (P - MC)/P, is 40%. A recent market research study found the following relationship between adverting outlays and sales revenue. Advertising Outlays Gross Revenues from Sales $500,000 $4,000..

User Account

All Pages