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Question: 1. What is the difference between GDP and GNP? Use the internet to find the numbers for US GDP and US GNP for the year 2016? Make sure you state the source of your information. Why are the numbers different? Which, in your opinion, is a better measure of a country's economic progress? Why?
2. What is the current rate of unemployment and the rate of inflation? Make sure you provide the source of your information. What did President Obama do to help us in our latest economic crisis? Do you believe his proposals were effective? Why or why not?
website: The white house president Barack obama
What are your impressions of his proposals?
3. The NBER dates recessions on the basis of changes in real GDP. There is some argument that it might be better to look at other measures, such as the unemployment rate, to date recessions. What are your thoughts on this? How would this argument have changed the length of the 2001 recession?
You might find it useful to look at this website: The national bureau of economic research
Present a real life example of price discrimination - explain what price discrimination does to producer and consumer surplus?
Discuss one recent price change that you have noticed while visiting your local supermarket. Speculate on whether or not the price change that you identified was a result of a change in either supply or demand.
Stocks of resource R are shrinking continually at an annual rate of 8.5%. How much will remain in 30 years' time if current stocks are 725,000 units?
An online stock trading company makes part of their revenue from clients when the clients trade stocks therefore, it is important to the company to have an good idea of how many trades its clients are making in a given year. In a sample of 120 client..
With food on the horizontal axis and clothing on the vertical axis, identify on a graph the set of points that give Bridget the same level of utility as the bundle (10,5). Do the same for Erin on a separate graph.
The attributes of the product
Industries (markets) evolve and change over time. Many industries start out competitive (many businesses) but over time some begin to emerge as dominate ones in the industry
Present a description on the relevant economic model to show how a tax on producers, that is equal to the external cost of smoking cigarettes, would result in an efficient equilibrium?
The manager of a department store wants to determine what proportions of people who enter the store use the store’s credit cards for their purchases. What size sample should be taken so that at 99% confidence, the error will not be more that 8%?
Quinoats are a primary staple food in the tiny village of Frizzample, which is located in a far away country that you've probably never had a chance to visit. The technology by which Frizzamplese farmers produce quinoats is represented by this ..
you must give up your full-time job which paid 50000 per year and you worked part-time for half of the year.the average
Compare the same car (or very similar cars) when purchased or leased. Create a table that shows the cost to get into the car, monthly payments, total cost, end result (added fees, car equity, etc.) for both purchasing and leasing.
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