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Suppose nominal GDP in 2005 was $14 trillion, and in 2006 it was $15 trillion. The general price index in 2005 was 100, and in 2006 it was 103. Between 2005 and 2006, real GDP rose by what percent?
Using quarterly data, calculate the coefficient of variation of detrended personal disposable income, consumption, consumtion of durables, and consumption of nondurables plus services. Comment on the relative variability of these series.
Which of the following increases the political power of special interest groups and makes counterproductive government action more likelyA car sells at different prices at different dealerships in a local market. If a consumer has imperfect informa..
Is there a BOP equilibrium or a BOP deficit/surplus.What is the equilibrium level of GDP and the interest rate.
According to the Sleep Foundation, the average night's sleep is 6.8 hours Assume the standard deviation is .7 hours and that the probability distribution is normal.
Suppose that Sven has a V W Cabrio that he would like to sell. Unfortunately, the speedometer on the car is broken and in need of repair. Sven is accustomed to driving the car in this condition and it is worth $3,000 to him fixed or not. Sven would l..
A,B, and C decide to act illegally as a cartel, to divide the market equally among the three of them, and to set the price and output that will maximize their total profits. What price and output do they set? What is the output level that each of ..
Name four reasons why the desired investment function would change the way it did.
Explain the causes of recent recession and when it started and when it technically ended. Finally why the recent recession was called the worst recession after the great depression.
What price should do you charge if it wants to maximize its revenue from this concert? And, how much revenue will it receive?
Suppose that you are in the business of providing cat grooming services and you are a member of an association who has proposed legislation anybody wanting to offer cat grooming services would have to pay for extensive training and pass a series o..
How well do punches of market satisfy properties of ideal money (durable, portable, divisible, uniform quantity, low opportunity cost, stable value)?
Draw an iso-cost line for this firm, showing combinations of L and K that cost $6 and another iso-cost line showing combinations that cost $12. What are the slopes of these iso-cost lines?
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