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In year 1, nominal GDP for the US was 2,250 billion and in year 2 was 2,508 billion. The gdp deflator was 72 in year 1 and 79 in year 2, real gdp rose by? The answer has to be in percentage
The economy is hit with a positive LRAS shock and you, in your role as a central banker, respond with an active policy response to stabilize inflation. (a) Draw an AS/AD diagram illustrating the changes in output and inflation. (b) Describe briefly h..
In a Price Taker market, with a total fixed cost =$200 Also given Output per month (3) tons, Total Cost = 1550, Price per ton = 500,. How would I calculate (and what formula would I use for each), Marginal Cost (MC), Average Variable Cost (AVC), Aver..
Joe and Jim purchase vegetables at a grocery store, but Jim also grows vegetables in his back yard. Regarding these two practices, which of the following statements is correct?
Elucidate situations which use the IS-LM-FX model to illustrate the effects of the shock. For each case, state the effect of the shock on the following variables.
there was a month were employment and the unemployment rate rose. Suppose the computations were correct, explain how is it possible for both to have increased.
Discuss two reasons that government should intervene in the operation of free markets and give two examples of real-world government policies or programs motivated by these reasons.
Suppose the government of Washington is considering the addition of a new tax on rms. You have been called in to provide expert analysis on how such a tax would eect employment of labor. A tax on every hour an employee works (e.g., \X" cents per hour..
They use the Internet to pay babysitters. With no cash, does the nature of money change? Should the Federal Reserve change the definition of M1?
How much could the store charge for an yearly membership in order to extract the entire consumer surplus via an optimal two-part pricing strategy.
Suppose that each worker in the Foreign country can produce two cars or three TVs. Assume that Foreign also has four workers. Graph the production possibilities frontier for the Foreign country. What is the no-trade relative price of cars in Foreign?
According to the theory of comparative advantage, nations gain from trade because
For given input prices, more expensive bundles of inputs are associated with:
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