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U.S. real gross domestic product increased from $10 trillion in 2000 to $15 trillion in 2010. During that same decade the share of manufactured goods (e.g., cars, appliances) fell from 16 percent to 12 percent.
What was the dollar value of manufactured output in
a) 2000 and
b) 2010
Suzy knows that she has maximized her utility, as she is on her budget constraint.
Explain how many additional workers do you think will file umemployment claims in your state
America's young people are heavy Internet users; 87% of Americans ages 12 to 17 are Internet users (The Cincinnati Enquirer, February 7, 2006). MySpace was voted the most popular Web site by 9% in a sample survey of Internet users in this age grou..
a) What is the probability that 35% of them, or less, would be partially financed by the seller b) There is 80% chance that the sample proportion of home sales that would be partially financed by the seller will be bigger than what amount
Some fields have large enough quantities of both oil and natural gas that coordination must be achieved for the production of both, rather than oil alone as in our examples. Will fields with both oile and gas have greater difficulties in unitizati..
Make sure to properly cite and reference the article in your review, along with any additional sources that you use.
You are a pricing manager at Argyle Inc. - a medium-sized firm that recently introduced a new product into the market. Argyle's only competitor is Baker Company, which is significantly smaller than Argyle.
After the firm's patent expires, predict the new market output and price. Assume that competing suppliers have the same economic costs as the original producer. Calculate the resulting change in consumer surplus.
Price elasticity of demand is constant if the slope of the demand curve is constant, terms of quantity changes and price changes
How does an expansionary monetary policy work? (Describe the steps through which an increase in money supply affects the real GDP). How does fiscal policy work? (Describe the steps through which an increase in G or TR, or a decrease in TX, affects ..
Robin and Terry are Stranded on a deserted island and consume two products, coconuts and fish. In a day, Robin can catch 2 fishes or gather 8 coconuts, and Terry can catch 1 fish or gather 1 coconut.
Express how long would it take for the price level to double if inflation persisted.
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