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Question: Suppose that twenty-five years ago a country had nominal GDP of $1,800, a GDP deflator of 150, and a population of 100. Today it has nominal GDP of $2,800, a GDP deflator of 270, and population of 180. What happened to the real GDP per person? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.
Estimate the demand for natural gas by each group over the entire period using a simple linear regression. How confident would you be in concluding the coefficient estimates are not equal to zero?
There are two types of used cars on the market: Lemons and Cherries. Lemons are worth $2000 to sellers and $3000 to buyers. Cherries are worth $4000 to sellers and $6000 to buyers. There are 70 Lemons and 30 Cherries available for sale, and buyers ar..
describe why marginal analysis must be used in decision making with examples. Also, give examples of poor decision-making when sunk costs were used to justify choices, and discuss how legal and ethical issues may play a role in making decisions.
consider the utility function ux y -8x -8y. find and expression for the marginal rate of substitution mrsxy at any
Can ticket "scalping" be justified? Explain using economic analysis. What are the economic effects of an appreciation of the dollar in foreign exchange markets
you are a manager in a perfectly competitive market. the price in your market is 45. your total cost curve is cq 10
Which of the following statements best states the demand for agricultural commodities?
What is the equilibrium level of the money stock (M) and the interest rate (r) in the money market? What is the equilibrium level of income (Y) in the output market
Assume that a country produces an output Q of 50 every year. The world interest rate is 10%. Consumption C is 50 every year, and I = G = 0.
if the fed3939s policy is successful in keeping real gdp at its potential level in 2015 state whether each of following
Suppose you may choose between two routes in your commute by automobile to work each day. Over a year, the risk of death on route A is 0.0001 while the risk of death on route B is 0.0002. Because route B takes 30 hours of commuting time a ye..
An end-of-aisle price promotions changes the price elasticity of a good from -2 to -3. If the normal price is $10, what should the promotional price be? Use (P - MC)/P = 1/?e? to calculate MC and then use the same equation to find out the new price.
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