Reference no: EM13154213
Part-1
Assume that Country A has a population of 500,000 and only produces one good-cars. Country A produces 100,000 cars per year. The people in Country A purchase 90,000 cars, but there are not enough cars to fulfill all the demand. They decide to import 50,000 more. The government buys 25,000 cars for its police force, and 10,000 cars are bought by companies to transport employees to other locations to work. They also export 65,000 cars to nearby countries for sale.
What is Country A's GDP?
What is the composition of GDPby percentage?
What is the GDP per capita?
If government purchases go up in the short run, what happens to GDP? Show this graphically.
If consumption and government purchases go up, what happens to GDP in the long run? Why? How would this look in a graph?
How does this relate to Keynesian economics?
Part-2
Go to the Bureau of Economic Analysis on the Department of Commerce's Web site, and look up the latest new release for real GDP.
Where are we in the business cycle?
What is the real GDP today?
What is the nominal GDP today?
What is the difference between nominal and real GDP?
What is the largest component of GDP?
What is the smallest component of GDP?
What is the fastest growing component of GDP and why?
What components of GDP were involved in the change from last month to this month?
What is the price index today?
What caused the change?
Is the GDP price index different from the CPI? How so?
Which price index-CPI, GDP, or PPI-makes the most sense to you?
|
What is the molarity of a solution
: What is the molarity of a solution prepared by dissolving 4.92 g of calcium nitrate, Ca(NO3)2, in 250 mL of water? (The molar mass of Ca(NO3)2 is 164 g/mol.)
|
|
Explain the heisenberg uncertainty principle
: If the speed limit is 75 mph, could the driver of the car reasonably evade a speeding ticket by invoking the Heisenberg uncertainty principle?
|
|
Estimate of the stock price per share
: If the company has 25 million shares of stock outstanding, what is the best estimate of the stock's price per share?
|
|
Calculate the elasticity for each variable at that point
: Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable. Should this firm be concerned if macroeconomic forecasters predict a recession? Explain your answer.
|
|
What is the composition of gdp by percentage
: What is the composition of GDP by percentage, what is the GDP per capita and If government purchases go up in the short run, what happens to GDP?
|
|
What percentage of assets are held in mortgage loans
: what percentage of assets do commercial banks hold in loans? what percentage of assets are held in mortgage loans?
|
|
Find probability in month there are nine days-precipitation
: Find the probability that in a given month a) there are exactly 9 days with 0.01 inch or more precipitation, b) there are at most 9 days with 0.01 inch or more precipitation.
|
|
Net income for the year amounted
: The owner's equity in a business amounted to $56,000 at the beginning of the year and $100,000 at the end of the year. The owner had made no additional investments and had withdrawn $19,000 during the year. The net income for the year amounted to ..
|
|
What mass of oxalic acid dihydrate is required
: what mass of oxalic acid dihydrate, H2C2O4 + 2H2O is required to prepare 280.0 ml of a 1.51 M solution of oxalic acid
|