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Suppose that twenty-five years ago a country had nominal GDP of $1,000, a GDP deflator of 200, and a population of 100. Today it has nominal GDP of $3,000, a GDP deflator of 400, and population of 150. What happened to the real GDP per person? a. It more than doubled. b. It increased, but it less than doubled. c. It was unchanged.
Name a product you purchased that would be part of the monopolistic competition market structure. Why do you think it is part of this market structure?
a) The government reduces the minimum nominal wage. b) The government increases Temporary Assistance to Needy Families (TANF) payments, government transfers.
Consider the assumptions about preferences and well-behaved indifference curves.
The Gorgonzolan central bank puts 5,000,000 guilders into circulation and each of the commercial banks holds 20% of deposits. Assume the public holds no currency. Initially all of the money is deposited into First National Bank. Show the T-account fo..
Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50 and the unit price of the input is $9. The level of productivity and the per-unit cost of production are, respectively:
Do you ever fail to come up with videos? What do you see in terms of promoted videos in these searches?
Can a monopolistically competitive firm producing a good with lots of very close substitutes earn large positive profits in the long run? Please explain.
q. suppose a government has no debt and a balanced budget. suddenly it decides to spend 1 trillion while raising only
Describe why evolution is a scientific theory. List and explain some of the key lines of scientific evidence that supports evolutionary theory.
Suppose the government implements a policy that makes people to invest more time in human capital accumulation.
Manages regularly face the choice of increasing advertising expense or reducing price to increase sales in the Oligopoly market structure. The finance department predicts dropping the price by $2.00 will increase sales by 3,000 to 33,000 units next y..
Briefly explain what it mean, The ownership of the firm is residual in nature.
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