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Nominal GDP uses current prices as a measure of the value of goods and services produced, while real GDP uses prices of goods and services in a base year to measure value.
Suppose an economy consists of three goods: pizza, sodas, and televisions. The table below provides the prices and quantities of these goods in 2000 and 2003.
Pizzas Sodas Television
Price in 2000 $15 $1.50 $200Quantity in 2000 20 60 10
Price in 2003 $18 $1.75 $225Quantity in 2003 25 80 20
When the economy experiences inflation, it is possible for nominal GDP to increase while real GDP remains unchanged.
Matt Christpher is a 25 year old mechanical engineering and his salary next year will be $60,000.Matt expects that his salary will increase at a steady rate of 5%per year until his retirement at age 65.
Now assume that intermediaries come from a competitive market with and equilibrium price of $8 per unit for their services, that is, any buyer or seller who wants an intermediary's services must pay $8 for them. What is the maximum per unit that s..
Suppose an economy's real GDP is $50,000 in year 1 and $55,000 in year 2. What is the growth rate of its GDP Assume that population was 100 in year 1 and 105 in year 2. What is the growth rate in GDP per capita
Company A just paid a $3.00 dividend per share. The dividend is expected to grow at a 4% rate indefinitely. The beta of the stock of Company A is 1.5. The market risk premium is 8% and the risk-free rate is 3%. (a) What is the expected return on t..
How much consumer surplus do consumers receive when Px = $45? c. How much consumer surplus do consumers receive when Px = $30? The demand curve for product X is given by QXd = 360 - 2PX.
A and 20 milligrams of vitamin B while minimizing cost. An ounce of oats contributes 8.5 milligrams of vitamin A and 1.2 milligram of vitamin B, whereas an ounce of rice contributes 6.4 milligrams of A and 2.2 milligrams of B. An ounce of oats cos..
what will happen to equilibrium quantity od peanut butter traded in the market after the 30% increase in the price of peanut butter? stay the same, increase, decrease, or not enough information to tell what will be the expected change in the quant..
It is common for supermarkets to carry both generic (store-label) and brand-name (producer-label) varieties of sugar and other products. Many consumers view these products as perfect substitutes, meaning that consumers are always willing to substi..
To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. The number of defectives in each sample is listed below. a. Calculate the proportion defective in each sample. and b. Calculate the plot p-ba..
Use the following equations for demand and supply to solve for market equilibrium price and quantity: Demand: Qd = 100 - 4P Supply: Qs = 10 + 6P
Two different alternatives shown in the table below are being considered by Kal Tech Engineering systems. Assume that alternatives X and Y are replaced at the end of their lives.Data Alternative X Alternative Y Initial Cost $6,000 $1,500Uniform Ann..
Assume the Following IS-LM Model E Expenditure sector Sp = C + I + G + NX C = 110 + (2/3)YD Calculate the equilibrium values of private domestic investment (I), tax revenues (TA), and real money demand (md). How much of private domestic investment (I..
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