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if real GDP in 2002 were $10,048.8 billion and nominal GDP in 2002 were $10,049.6 billion calculate the percentage change from 2001 to 2002 in nominal GDP, real GDP and price level. What is the value of the GDP deflator in 2002
Susanna Nanna is the production manager for a furniture manufacturing company. The company produces tables (X) and chairs (Y). Each table generates a profit of $80 and requires 3 hours of assembly time and 4 hours of finishing time. Each chair gen..
If the t ratio for the slope of a simple linear regression equation is equal to 1.614 and the critical values of the t distribution at the 1% and 5% levels of significance, respectively are 3.499 and 2.365, then what is the slope
An investment opportunity has the potential of generating yearly revenues with the associated probabilities for the next five years as shown below. The salvage value at the end of five years is 0. The potential revenue in any given year is indepen..
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following compo..
Use the given utility function and the budget constraint from part A to solve for Chip's best response function for the number of hours collecting firewood taking the number of hours Holly spends (WH) as given. C. Solve for the privately optimal ..
You are planning to build a new home with approximately 2,000-2,500 gross square feet living space on one floor. In addition, you are planning an attached two car garage (storage space) of approximately 450 gross square feet.
A packaging company needs to know the rate of return on a process which will cost $60,000, have an income of $25,000 per year, have an operating cost of $5,600 per year, and have a salvage value of $7,000 at the end of its five year life.
Assume that the price index is one hundred and a typical basket of goods and services cost $8. Within the basket, you had four hamburgers and 3 hot dogs.
You are choosing between two goods, X and Y, and your marginal utility from each is as shown below. Units of X MUx Units of Y MUy 1 10 1 8 2 8 2 7 3 6 3 6 4 4 4 5 5 3 5 4 6 2 6 3 If your income is $9 and the prices of X and Y are $2 and $1
Discuss the meaning of the x- and y-axis values on the graph. (Hint: Be sure to label the axis) Based on the results of the graph and the profit equation provided, discuss the relationship between profits and number of e-readers produced.
A monopolist's has a constant marginal and average cost of $10 and faces a demand curve of QD = 1000 - 10P. Marginal revenue is given by MR= 100 - 1/5Q. A. Calculate the monopolist profit maximizing quantity, price and profit.
His first year's salary is $52,000, and he expects the salary to grow 4% each year. How much will be in his account after he makes the last deposit? What uniform amount can he withdraw from the account for 25 years beginning one year after his las..
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