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Questions - Answer in three to five sentences per question.
1. Is GDP a good measure of output? What are its strengths and weaknesses?
2. How are changes in the price level measured? How much have prices increased in recent years? What is the difference between real and nominal GDP?
3. What is the difference between GDP and GNP?
4. Based upon your understanding of the Samuelson article, provide a brief example of the difference between a microeconomic matter and a macroeconomic matter.
Suppose two identical firms produce widgets and they are the only firms in the market. Find out the Stackleberg Equilibrium.
Defining managerial economics by reffering two economists, using the positive approach. discuss by using specific examples the purpose of economic analysis and use of economic model.
develop a regression equation using any data. Use the regression equation to focus the demand for the product you chose for the next three periods. Assess what the results of the regression equation tells managers and how it is likely to impact de..
Describe how the price system answers the five fundamental questions of economics, and discuss at least two of the short-comings of the capitalist price and market system.
Define globalization. Discuss why you think that (income poverty, hunger, disease, lack of adequate shelter, and exclusion-while promoting gender equality, education, and environmental sustainability) relate to globalization?
Describing Use a graphic organizer like the one below to describe the four approaches to wage determination.
suzie purchases two goods- food and clothing. she has a utility function u9x,y0 x*y where x denotes the amount of food consumed and y the amount of cloting. the marginal utilites for this utility function are MUx=y and MUy=x she has income of M do..
1. The cross-boarder exchange of component parts is a major aspect of inter-industry trade in different goods and services.
Use the information in the following table to compute GDP for the current year. - the nominal value of GDP in this economy is:
Calculate the price elasticity of demand for the product below using average values for the prices and quantities in your formula.
Elucidate the own price elasticity for ATM fees charged to non-customers. At the current ATM fee, should you raise or lower your ATM fees.
Explain the problems associated with replacement cost accounting and net realizable value accounting when used as alternatives to historical cost accounting?
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