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Determine whether each of the following would be included in the 2002 U.S. gross domestic product:
a. Profits earned by Ford Motor Company in 2002 on automobile production in Ireland.b. Automobile parts manufactured in the United States in 2002 but not used until 2003.c. Social Security benefits paid by the U.S. government in 2002.d. Ground beef purchased and used by McDonald's in 2002.e. Ground beef purchased and consumed by a private U.S. household in 2002.f. Goods and services purchased in the United States in 2002 by a Canadian tourist.
All firms in a Cournot monopolistically competitive industry have the same cost function C (q)= 25 + 10q. Compute the equilibrium price, total output, firm output and number of firms in the industry.
The U.S. government spends over $15.8 billion on its Food Stamp Program to provide millions of Americans with the means to purchase food.
Explain is it false that the influence that FED policies have on excess reserves makes a difference.
Analyze the modern notion of microfoundations with Marx's 'real foundation' for the analysis of economic activity.
Mmachines of Newspaper vending are designed so that once you have paid for one paper; you could take more than one paper at a time.
make sure to comprise explicit benefits that can be realized by consumers as a consequence of the enforcement of this legislation.
You have been hired to work with a resort owner in Northern Minnesota. This resort owner runs a very small operation catering to mostly people who like to fish.
Illustrate what range of labor input is marginal product smaller than average product. What is happening to average product as employment increases over this range.
Some possible platforms on which to write are comparative advantage, gains from trade, World Trade Organization and trade restrictions.
If the elasticity of US exports with respect to the real exchange rate is very low, will this increase in private saving have a large or small effect on the U.S. real exchange rate
Suppose the Fed does not change the money supply. According to the theory of liquidity preference, what happens to the interest rate? What happens to the aggregate demand.
If velocity is unchanged and the money supply grows by 13% and the real GDP grows by 4%, what is the rate of inflation?
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