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Consumption spending is $3.708 trillion, spending on nondurable goods is $1.215 trillion, and spending on services is $2.041trillion. What does spendingon durable goods equal?
Year Units of Output Price Per Unit 1 3 3 2 4 4 3 6 5 4 7 7 5 8 8 1. Refer to the above data. If year 3 is chosen as the base year, what is the price index for year 2. Refer to the above data. What is the nominal GDP for year 4
The GDP deflator in Econoland is 200 on January 1, 2005. The deflator rises to 242 by January 1, 2007, and to 266.2 by January 1, 2008. What is the annual rate of inflation over the three year period from January 1, 2005, to January 1,2008
Furthermore, the number of capitated enrollees has changed over the budget period. In order to calculate the volume variance and break it down into enrollment and utilization components, how many flexible budgets must be constructed?
Draw the ATC, AVC, and MC curves for a typical firm. Label the price at which the firm would shut down temporarily and the price at which the firm would exit the market in the long run.
From the Phillips curve given in (6.7.3), is it possible to estimate the natural rate of unemployment?
Is there an efficiency gain compared with your answer in the previous question? Use the estat abond command to test whether the errors air are serially =correlated. Use the estat sargan command to test whether the model is correctly specified.
The owner sells the property after the announcement but before the rezoning occurs. How much would a buyer pay if she expects to prevail in a claim for compensation with probability .5? What is the resulting loss to the seller from the zoning chan..
The average 15- year- old purchases 12 CDs and 15 cheese pizzas in a typical year. If cheese pizzas are inferior goods, would the average 15- year- old be indifferent between receiving a $ 30 gift certificate at a local music store and $ 30 in cas..
Use a supply-and-demand diagram to explain why, and discuss the effect on the number of people employed.
In the Nashville Radiology Group example given in the chapter, we assumed that the lease did not have a cancellation clause. What effect would a cancellation clause have on the analysis?
Suppose that the Fed's inflation target is 2%, potential output growth is 3.5%, and velocity is a function of how much the interest rate differs from 5%: %^V= 0.5 X (i-5). Suppose that a model of the economy suggests that the real interest rate is..
Define inflation. Assume that you live in a simple economy in which only three goods are produced and traded: fish, fruit, and meat. Suppose that on January 1, 2007, fish sold for $2.50 per pound, meat was $3.00 per pound, and fruit was $1.50 per ..
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