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In May? 2013, the value of the Consumer Price Index? (CPI) in a certain? country, Polonia, reached an? all-time high of 240
index points and per capita nominal GDP was? $42000. In January? 1950, the CPI was at its lowest at 68
index points. Per capita nominal GDP in 1950 was $8 comma 8,800.
Calculate real GDP per capita for 1950 by converting that? year's nominal GDP per capita into current? (2013) dollars.For 1950, real GDP per capita? (in 2013? dollars)
What is meant by externalities? What are different types of externalities? What are different types of externalities? What is the Coase theorem? How is it related to externalities?
Inflation is a sustained rise in the average price level. An increase in aggregate demand can cause demand-pull inflation. A decrease in aggregate supply can cause cost-push inflation. Prior to World War II, both inflation and deflation were common, ..
A survey of 430 business travelers found 155 used a travel agent to make arrangements (USA today, November 20,2003) Develop a descriptive statistic that can be used to estimate the percentage of all business travelers who use a travel agent to make t..
As an industry moves from being a monopoly to a monopolistically competitive one (due to entry of new competitors as monopoly's patents expire, for example), what happens to elasticity of demand curve facing firm.
Jane loves to spend her free time making jewelry. Her favorite two pieces of jewelry to make are necklaces and bracelets. It takes Jane 1 hour to make a necklace and 45 minutes to make a bracelet. Assume that she has more than enough supplies to last..
Suppose that some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?
What is the impact of a tax cut in an economy operating under a flexible exchange rate regime on household spending, interest rates.
Identify an instance where a price control is used in our markets. Why do you think this price control exists? Also discuss the possible negative effects it may have on the market
Evaluate the statement: “The only time that a change in resource allocation clearly increases social welfare is when the change represents a “win-win” situation.”
Explain and illustrate graphically relationship between price consumption curve of a normal good and a consumer's demand curve.
Consider a case of small open economy. In this economy, there is an IT revolution, and as a result the productivity of the economy has gone up. What will be the eject of this productivity increase on interest rate and net export in this economy? What..
What are the input levels for both x1 and x2 in order to minimize the cost for the orange grower
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