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1. We grow wheat that sells for $40,000. The wheat is milled into flour that sells for $55,000. The flour is used to bake bread that sells to consumers for $90,000.
A. $105,000 goes into GDP.
B. $50,000 goes into GDP.
C. $185,000 goes into GDP.
D. $90,000 goes into GDP.
2. If nGDP is $9000 billion while rGDP is $12,000 then the GDP deflator is...
3. Typically, a period where GDP is falling for at least 6 months is considered to be:
A. Recovery
B. Recession
C. Trough
D. Expansion
The private marginal benefit for commodity X is given by 50-5 X , where X is the number of units consumed. The private marginal cost of producing X is constant at $10. For each unit of X produced, an external benefit of $5 is imposed on membe..
Consider the market for two goods that are substitutes, such as pens and pencils. if a technological breakthrough reduced the cost of producing pens. A/ what would happen the supply of pen? B/ what would happen on the price of pens and the quantity e..
q1. due to the housing bubble many houses are now selling for much less than their selling price just two or three
The Fichser-Tropsch (F-T) process was developed in Germany in 1923 to convert synthesis gas (i.e., a mixture of hydrogen and carbon monoxide) into liquid with some gaseous hydrocarbons. Interestingly the F-T process was used in World War II to make g..
Specify the set of mutually beneficial allocations relative to the initial endowment and illustrate the set.
Products become obsolete and are replaced by new goods, such as the typewriter. Draw supply and demand graphs and describe what results when this occurs.
While RIMS II, IMPLAN, and other methods regularly deviate substantially from each other in the answers they yield to analytical questions, is there a "band" within results should be considered "more accurate". For example, if RIMS and IMPLAN give a ..
The division managers of Chester Construction Corporation submit capital investment proposals each year for evaluation at the corporate level. Typically, the total dollar amount requested by the divisional managers far exceeds the company’s capital i..
Describe what is meant by the Diagnostic-Related Groups. Please supply reference, no copy and paste and please no Plagiarism
Assume interest rate levels rise to the point where such bonds now yield 12 percent. Illustrate what should the U.S. Congress also the Federal Reserve do about it.
If you each charge a high price, you each earn profits of $200. If you charge different prices, the one charging the higher price loses $50 and the one charging the lower price earns $300.
What can be said about the benefits and problems of each dimension (economic, cultural, political and environmental) of globalization? Is globalization a positive force overall?
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