User Account

All Pages

What is output gap in this theoretical economy

Assignment Help Business Economics
Reference no: EM133392554

Question

Suppose the actual output is $356 billion and potential (full-employment) output is $400 billion. What is an output gap in this theoretical economy? Show your work. Based on your estimate of the output gap, would you expect the unemployment level to be higher or lower than usual? Why?

Reference no: EM133392554

Questions Cloud

Competitive marketplace are violated in medical markets : What do you describe Economic Point of View? What assumptions of the perfectly competitive marketplace are violated in medical markets?
Having been in belize with new business acquisition : Having been in Belize with a new business acquisition, I saw firsthand the importance of the supply chain.
Expected returns for pure factor portfolios : Find the portfolio weights and expected returns for the pure factor portfolios for F1. What is the factor risk premium for factor 1?
Trade based on comparative advantage benefits both countries : Trade based on comparative advantage benefits both countries. The distribution of gains from trade across countries depends on the terms of trade.
What is output gap in this theoretical economy : What is an output gap in this theoretical economy? Show your work. Based on your estimate of the output gap,
Subject-matter jurisdiction : Sally can only sue in a state court because a federal court does not have subject-matter jurisdiction.
Having listen to the norms vs results podcast : Having listen to the Norms vs Results podcast, provide an explanation and example of corporate/managerial shortcomings of this concept -- Norms vs Results
What are mortgage-backed securities : What are mortgage-backed securities? What are some of the reasons that would make bond market prices would rally
Why did female enrollment rise faster than male enrollment : Why did female enrollment rise faster than male enrollment from 1980-2010? Why did enrollment for both genders decline starting around 2010?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd