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Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade)Complete the following exerciseVisit the Bureau of Economic Analysis Web site at www.bea.gov In U.S. Economic Accounts under National click on Gross Domestic Product (GDP), then Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables, click "Begin using the data", and use Section 1 - Tables 1.1.5 and 1.1.6 to identify the GDP (nominal GDP) and real GDP for the past four quarters.a) Present the information that you received in your project as a table.b) Write a report (1 page double - spaced), which contains the analysis of the results you received.In this report consider, but do not be limited to the following:1.Why was nominal GDP greater than real GDP in each of those quarters?1.What was the percentage change in Nominal GDP for the most recent quarter compared to the previous quarter? What was the percentage change in Real GDP for the two quarters?2.What accounts for the difference in the two percentages?
1.Government policymakers may be elected politicians or appointed experts. Describe some of the specific decisions made by policymakers that affect you personally 2. Discuss the motivation of policymakers. Are they held accountable by voters
Monetary policy is an effective way to increase demand, if you're the sort of economist that believes the government should meddle in the economy. In an paragraph, thoroughly explain how monetary policy affects each of the four components of aggregat..
A manufacturing company leases a machine for $31,812 per year. Each unit produced costs $36 in labor and $72 in materials. To break even, 21,000 units must be sold. What is the selling price for the product
A country has Labor Force (LF) of 155 million and out of total LF; 137 million are employed in different sectors of economy. Calculate the following? Number of Unemployed, Unemployment Rate (%)
The manager of a Cummings engine manufacturing facility has collected some historical data on the monthly demand of hemi-diesel engines (See table 1) What is the annual demand of engines?
Suppose a product can be produced using virgin ore at a constant marginal cost given by MCv=5 and with recycled materials at a marginal cost given by MCr=3+0.5q . If the (inverse) demand curve where given by P=10-0.5q , how many units of the product ..
Capital equipment and medical technology - Equity of financing system
A manufacturer is considering changing its process to reduce pollution emissions. The current process has an annual operating cost of $850,000 and an annual waste disposal cost of $150,000. The new process will have an annual operating cost of $700,0..
Suppose the demand and cost function for a monopolistically competitive firm are given by: Q=36-4Q,C(Q)=124-16Q+Q^2. Determine the profit maximizing price and level of output.
gillettes shareholders chairman and ceo james kilts indicated despite several new product launches gillettes
What has happened to the level of desired consumption and why? Be sure to refer to the substitution effect in your answer! Be specific with numbers
Suppose that she invests in a college education, expecting to get a better and higher wage job. Show how her optimal stock of health capital changes by the age of 30 due to the increased wage.
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