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Suppose that the GDP of California increases by 8.0% each year. how long will it take for the GDP of California to double? Round your answer to one digit after the decimal.
_______years
Suppose that the gdp of Oregon today is exactly twice what it was 32 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal.
_____________% each year.
Which of the following must be true in an economy with a government but with no foreign trade?
A country has national saving of $70 billion, government expenditures of $20 billion, domestic investment of $30 billion, and net capital outflow of $40 billion. What is its supply of loanable funds?
Define civic responsibility. What knowledge, skills, attitudes, and behaviors should an effective citizen have? Explain the connections you see among service, civic responsibility, and business?
Two hospitals want to merge. The price elasticity of demand is -0.20, and each clinic has fixed costs of $100,000. One clinic has a volume of 9,200, marginal costs of $70, and a market share of 3 percent. Explain your understanding of this notion: “M..
Three policies used to restrict trade are: Tariffs, Quotas, and regulatory trade restrictions. Discuss pros and cons of each. If the government has to decide on one which one it will?
Calculate nominal GDP in 2006 and in 2007 and the percentage increase in nominal GDP between 2006 and 2007.
An ironic twist in Rawls’ Theory of Justice is that although he claims to base his theory of rights on the natural law theory of John Locke and Kant’s deontology, it turns out in the end to be a version of _______________
Spending by the consumer sector is the driving force in the US economic system. Although the business and government sectors make a considerable contribution to the success of the economy, it is the spending by the consumer or household sector of the..
Illustrate what kind of gap-inflationary or recessionary-will the economy face after the shock.
q.assume you are a painter as well as the cost of a gallon of paint increases from 3.00 a gallon to 3.50 a gallon. your
The price of good A is Eur 20,the quantity demanded is 500 units at yhis price,and price elasticity of demand is Ep=1,8,then a reduction in price of the good by eur 5 would increase the total revenue of seller by
As we noted in class, most members of labor unions work in the public sector, industries that are regulated, or industries in which production is concentrated into a few firms. Consider a perfectly competitive industry with many firms that produce th..
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