What was eurasia gdp in 2003

Assignment Help Macroeconomics
Reference no: EM131270451

In the small country of Eurasia people do salmon fishing, they produce canoes and also grow corn. In 2003 they produced 5000 canoes using labour and natural materials only, but sold only 4000, as the economy entered a recession. The cost of producing each canoe was $1000, but the ones that sold were priced at $1250. They fished $30 million worth of salmon. They used $3 million of the salmon as fertilizer for corn. They grew and ate $55 million of corn. What was Eurasia's GDP in 2003? Explain your methodology

Reference no: EM131270451

Questions Cloud

Keynesians and monetarists concerning level of government : (Part A) Evaluate the fundamental arguments between Keynesians and Monetarists concerning the level of government involvement in our economy to minimize the impact and stabilize the different stages of the business cycle.
Market demand for monopolist product : In this question we will use the above data to compare a single price monopolist to the same monopolist that is regulated either with average cost regulation or marginal cost regulation. At the end of the question you will fill out a table to comp..
Battle for market share in the automobile industry : The following quotation appeared in a Wall Street Journal article on the battle for market share in the automobile industry in 2000: "The huge fixed costs involved in developing new vehicles and running big auto factories means auto makers feel co..
Complete a truth table for the three-input majority gate : A majority gate produces a TRUE output if and only if more than half of its inputs are TRUE. Complete a truth table for the three-input majority gate shown in Figure 1.41.
What was eurasia gdp in 2003 : They used $3 million of the salmon as fertilizer for corn. They grew and ate $55 million of corn. What was Eurasia's GDP in 2003? Explain your methodology
Rights for individuals employed by intelligence agencies : Explain the free speech rights of employees like Edward Snowden. Are there any limitations on these rights for individuals employed by intelligence agencies?
Explain what is meant by a pesticide treadmill : Consider what you have learned about natural selection and mutation concerning health issues like TB and head lice, and apply it to pesticide use and farming. Explain what is meant by a "pesticide treadmill' and why it is a concern to farmers and ..
Leading indicators for industry or firm : Discuss a scenario in which the use of leading indicators for your industry or firm (or an industry or firm of your choosing, could be fictitious or general) might improve performance and promote better decision making.
How these reasons contribute to the projects success : Failure to document the lessons learned on a project forces us to repeat the same mistakes again. Describe at least three reasons that a PM team should hold a Lessons Learned or After Action Review for every project, and how these reasons contribute ..

Reviews

Write a Review

Macroeconomics Questions & Answers

  Calculate the profit-maximizing production quantity

The market demand is given by P=175.3-0.003*Q and thus marginal revenue is MR=175.3-0.006*Q. The monopolist's marginal cost is MC=5.2+0.001*Q. Calculate the profit-maximizing production quantity.

  How the tax or subsidy policies may affect the process

Explain how MNE investment flows from richer countries to poorer countries can have a similar, and potentially accelerated, effect to that of "free trade". Consider the ways in which national tax and/or subsidy policies may affect this process.

  Explain will the insurance company make a profit

Will the homeowner retrofit also which insurance policy will the homeowner buy. Explain will the insurance company make a profit (on average) given the homeowners choice.

  Why math and programming

Why math and programming (ex. Excel, R, or Python) is helpful in money banking and financial markets?

  Explain why a weighted average is more suitable than an

Explain why a weighted average is more suitable than an unweighted average when trying to measure price increases. B. (i) A well known annual book was priced at £17 when published in December 2005.

  Cypress river landscape supply is a large wholesale

cypress river landscape supply is a large wholesale supplier of landscaping materials in georgia. cypress rivers sales

  Utility maximization formula

Complete the following table by computing the marginal utility per dollar for successive units of X, Y, and Z to one or two decimal places.

  Describe the environment

1. Describe the environment in which you feel the safest and why? 2. What concerns do you have? 3. What malicious software do you worry about the most?

  Will this industry see entry or exit

A firm in a purely competitive industry has typical cost structure. the normal rate of profit in the economy is 5 percent. this firm is earning $5.50 on every $50 invested by its founders. what is the percentage rate of return?

  Suppose that market forces of supply and demand interact in

Suppose that market forces of supply and demand interact in a market to determine an equilibrium price. Explain or describe how the determination of this price might serve to allocate or distribute this product to buyers in the market.

  Question on aggregate demand curve

Suppose that aggregate price level is constant, interest rate is fixed, and there are no taxes on foreign trade, how much will the aggregate demand curve shift and in what direction if the following events occur?

  Illustrate what do each of the following seek if they pursue

Illustrate what do each of the following seek if they pursue their own self interest: consumers, resource owners, and business firms.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd