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If nominal output rises from $13.5 billion to $14 billion and the GDP deflator rises from 100 to 105,
a) what is the percetage increase in nominal output?
b) what is the percentage increase in the price index?
c) what happened to real output?
d) by how much would the price index have had to rise for real income to remain constant?
Calculate equilibrium quantity. Now suppose that the government imposes a tax on consumers of $1 per unit. Recalculate the prices for consumers and producers, and the quantity sold.
Compute the price elasticity of Demand for paint also Elucidate how your calculations. Decide whether the Demand for paint is elastic, unitary elastic or inelastic.
Let customer's tastes change so that consumers now demand 100 more units at each price. When the cost of the good is $50, elucidate how many units of the good are demanded?
Elucidate how Illustrate what the balance sheet will look like (comparison to above) if Brimstone declares a 10% stock dividend.
Describe three problems of decentralization that occurred under the Articles of Confederation. For each problem you list, identify one solution that the Constitution provides to address the problem.
They face a straight market demand curve that runs from $500 on the price axis to 1000 on the quantity axis.How much profit will they make at that quantity? Why is this firm a natural monopolist?
Calculating MPC, In one year, a consumer's income increase by $400 and her consumption increases by $120. Her marginal propensity to consume is equal to.
you relate concepts in this week's readings to a prior real world experience. Experience does not necessarily have to be work experience. Examine market equilibrating process in relation to your experience.
Based on the revised (1997) merger guidelines, would the Antitrust Division likely challenge a proposed merger between.
explain how much the annual U.S. GDP and GNP in 2010 changed due to her job relocation.
Estimate t-statistics for each variable and elucidate Illustrate what inferences can be drawn from m. If R2 of this equation is 0.25, illustrate what inference can be drawn from it.
Why might the U.S. have a comparative advantage in bioinformatics but not in manufacturing and steel making.
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