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What is the difference between real and nominal GDP?
Does GDP accurately reflect the nation's welfare?
Why or why not?
How can a country's GDP be manipulated?
In your opinion, is the U.S. GDP being manipulated?
Explain your answer.
Explain the tools used to pursue expansionary and contractionary fiscal policy. During which phases of the business cycle would each be appropriate Explain what is meant by a built-in stabilizer and give two examples
1. A representative of the American clothing industry recently made the following statement: "Workers in Asia often work in sweatshop conditions earning only pennies an hour. American workers are more productive and as a result earn higher wages. ..
Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year. Normal people are willing to pay $250, and their desire to purchase does not vary with time. Ignore the time value of money a..
Assume you observed an acquisition by diversifying firm and that the aftermath of the deal included plant closings.
4. In 2008, citing Goldman as one of the "Top 20 Most Admired Companies" in the United States, Fortune magazine characterized the ?rm's culture as "an impossi-ble-to-replicate mix of extreme aggression, deep paranoia, individual ambition, an..
Calculate the equilibrium real wage rate and the equilibrium quantity of labor. Suppose that the nominal wage rate equals 60. In the short-run, aggregate demand and aggregate supply are equal at a price level of 1.0. Compute the real wage rate.
If instead local ordinances granted the households the right to be free from the pollution, could an efficient outcome be achieved by voluntary exchanges between the households and the O&Gs Would the households be better off or worse off than if t..
Critically discuss that there is no satisfying theory that explains the behavior of firms in oligopoly markets. Which theories should I include in the analysis and give some examples relevant to these theories?
RainAway, Inc., makes polymers used to coat the windshields of car's, planes, and boats-Complete the following table based on the RainAway product's price, output and costs per year:
Until the early 1990s, the U.S. government emphasized GNP rather than GDP as a measure of economic wellbeing. Which measure should the government prefer if it cares about the total income of Americans? Which measure should it prefer if it cares about..
Suppose that the number of packages delievered per day cannot be increased but the price per delievery might potentially be raised. What price per delievery would the frim have to charge for each delievery in order to maintain the firms profit per..
When borrowing money, what is the better gauge of our true cost of borrowing - the nominal rate of interest or the real rate of interest? Please explain.
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