Reference no: EM131017132
1. Why does the total expenditure of an economy have to equal the total income in the economy?
2. List at least four goods or services that are NOT included in GDP?
3. What are the two methods commonly used to determine GDP and explain how each works?
4. What is the difference between intermediate and final goods?
5. What is included in the "consumption" component of GDP?
6. What is included in the "investment" component of GDP ?
7. What is included in government purchases component of GDP?
8. What is the difference between real and nominal GDP?
9. What is a transfer payment?
10. See next page.
10. What is the GDP deflator for 2012 for a hypothetical economy, which produces only hot dogs and hamburgers, using the information below. Base year is 2011. Show all your work below.
|
Prices and Quantities
|
|
Year
|
Price of Hot Dogs
|
Quantity of Hot Dogs
|
Price of Hamburgers
|
Quantity of Hamburgers
|
|
2010
|
$1
|
100
|
$2
|
50
|
|
2011
|
$1.50
|
200
|
$2.5
|
75
|
|
2012
|
$2
|
300
|
$3
|
100
|
11. How is the consumer price index (CPI) created?
12. What does it measure?
13. Why is the CPI and imperfect measure?
14. Why is it unrealistic to compare the cost of something in an earlier year to its cost today?
15. What is the difference between the GDP deflator and the CPI?
16. What is the difference between nominal and real interest rates?
17. How does the producer price index (PPI) differ from the CPI?
18. Ann graduated from nursing school in 1962. Before she took her nursing boards and became a registered nurse, her hourly wage was $1.00. What is that equivalent to in 2015 dollars, using the Bureau of Labor Statistics website, www.bls.gov, CPI inflation Calculator? (You might think about what that means about the current minimum wage.)
19. In the country, Consumeria there are only three items purchased, chocolate bars, concert tickets, and compact disks. A standard market basket consists of the quantities shown. 2000 is the base year.
|
|
2000
|
2001
|
|
Items in the Basket
|
Quantity Purchased
|
Price
|
Price
|
|
Chocolate Bars
|
12
|
$1.50
|
$1.75
|
|
Concert Tickets
|
4
|
$45
|
$60
|
|
Compact Disks
|
18
|
$16
|
$15
|
a.What is the CPI in 2001?
b. What was the inflation rate between 2000 and 2001?
20. Sally deposits $1,000 into a bank account that pays 10% interest per year. A year later she withdraws $1,100. If there was 6% inflation, what was the real interest rate that she received?
|
How can countries develop sustainable strategies
: How are the strategic resources of food, water, and energy interrelated? How will improved living standard increase demand for these resources?
|
|
Explain what it means by structure follows strategy
: Explain what it means by 'structure follows strategy' (words from the great management historian, Chandler). Also provide a literature review of the impact of corporate structure on organizational performance and relate these findings to your expe..
|
|
What extent orientation influence organizational performance
: Corporate culture has been cited in the popular press and in academic literature as being an important internal environmental element in achieving a competitive advantage. Please select 3 orientations (i.e., marketing, entrepreneurial, customer) a..
|
|
Do you think gender identity is a matter of nature
: Do you think gender identity is a matter of nature or nurture - Why? Back up your argument with information from the text and the additional assigned readings.
|
|
What is the difference between intermediate and final goods
: Why does the total expenditure of an economy have to equal the total income in the economy?
|
|
Describe the nature of the transition in the organization
: Describe the nature of the transition in the organization. Discuss and assess how this transition affected operations, based on the organization's operational resources and limitations. How did the organization respond to the changes? Was the resp..
|
|
Review the following potential investments
: Calculate the dividends received deductions for each independent investment scenario assuming:
|
|
Review data tables regarding case mix and cms core measures
: Middleboro Community Hospital, consider the actions taken by this organization. Review data tables regarding their case mix (top DRGs), Patient Days, and CMS Core Measures. These metrics address both qualitative and quantitative measures in this o..
|
|
Importance of program evaluation in human services
: The importance of program evaluation in human services and the importance of actually using the data that make decisions and improve programs.
|