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Gross domestic product (GDP) is a measure of the market value of final goods and services produced within the borders of a country during a specific time period, usually a year.
What is the GDP deflator? How does the GDP deflator relate to real GDP?
Review GDP and nominal versus real. Real adjusts for inflation, so how do we arrive at the real GDP number from nominal GDP? Review the GDP deflator formula, where GDP deflator = (Nominal GDP/Real GDP) X 100.
Consider supply and demand in the market for privately-owned apartments in Moscow. What market outcomes do you predict in this market if the University of Idaho eliminates the requirement that freshmen must live on campus?
Average cost includes both fixed and variable costs, whereas the marginal costs include only variable costs. Therefore, marginal cost is never greater than the average cost." Comment on this statement.
The profitability of a bank depends on several different factors. Banks manage their assets in a variety of ways. Explain the importance of “liquidity management”? What is the concern of the bank in regard to the liquidity of its assets? Bank Manage..
Assume that the United States imposes an import quota on Italian shoes. Relative to the equilibrium world price that would exist in the absence of import quotas, the equilibrium price of shoes in the United States will most likely _____, and the equi..
What is the opportunity cost (in terms of hats you could have produced) of increasing your scarf production from 1 to 2?
Why is knowledge of competitors important? How does one determine who their competitors are?
How large is economy of India? Indian GDP in 2010 was 78.9 trillion rupees,while U.S GDP was $14.5 trillion. The exchange rate in 2010 was 45.7 rupees per dollar. What is the ratio of Indian GDP to U.S. GDP if we do not take into account the differe..
What is Brenda's break-even price for a dozen of eggs? Explain how you found that answer. If the market price of a dozen eggs at the local farmers' market is 72 cents per dozen, will Brenda make an economic profit?
q.for each of the following values for the mpc determine the size of the simple spending multiplier and the total
A company is considering buying workstation computers to support its engineering staff. In today's dollars, it is estimated that the maintenance costs for the computers (paid at the end of each year) will be $50,000, $60,000, $64,000 $70,000, and $80..
The world becomes a single market, some new approach must be developed to control the reach of the corporate oligopolies.
Assume which a industry has "pricing power" also can segregate its marketplace into two distinct groups based on differences in elasticities of demand.
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