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When does a recession begin and when does it end?
The dating of a business cycle is done by the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER). Go to NBER's web site and read the Nov. 26, 2001 memo as well as the set of FAQs. Summarize in your own words the economic indicators that the committee tracks to be able to determine the beginning and the end of a recession. Now, go to the Federal Reserve Bank of Dallas site. Click on the tab Economic Data and then click on U.S. Economic data and finally on National Income and Product accounts to retrieve the most recent data on U.S. GDP. In view of the data from 2007 to the most recent data of 2009, will you argue that the recession has ended? You can consult other data on the Dallas FRB site as well as other memos and announcement on the NBER site.
A local video store estimates their average customer's demand per year is Q = 7 - 2P, and knows the marginal cost of each rental is $0.5.
The article states that between 285 and 1,437 people in the United States could die if everyone were vaccinated against smallpox. The population in the United State is about 300 million people. What is the average cost, measured in terms of the odds ..
Explain why do we have such extreme diversity in pay in the US-port stars, actors, others making very high salaries while others make much less.
The country of Arkanslavia had money supplies of 183 million arkollars in 2010 and 644 million in 2011. They have real output of 791 arkollars in both years.
Long-run discectomies of scale over the range of output for which the long-run average cost curve is?Which of the following is always true? The law of diminishing marginal returns explains the general shape of the firms?
show nominal GDP and an appropriate price index for a group of selected years. Compute real GDP, and indicate in each calculation whether you are inflating or deflating the nominal GDP data. Instructions: Round your answers to two decimal places.
Determine whether each of the following would be included in 2002 United State gross domestic product,
1. the demand for coal briquettes is given by the following p200-0.5q. the private marginal cost of coal briquettes is
Calculate the payback period for an asset that has a first cost of $40,000, a salvage value of $8000 anytime within ten-years of its purchase, and generates income of $6000 per year.
Suppose you have been hired as an economic consultant to increase your client's sales revenue, and you discover that your client's customers are price inelastic. What suggestions do you have for your client in regard to using changes in your client's..
Imagine that you are the Chair of the President's Council of Economic Advisors. You need to prepare a briefing for the president on the status of the economy. Write a 1-2 paragraph on how the economy is generally doing. (For instance, determine if..
Explain how does the economist's use of the term rent differ from everyday usage.
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