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Expenditures Approach to Calculating GDP
Visit the Bureau of Economic Analysis Web site at www.bea.gov In U.S. Economic Accounts under National click on Gross Domestic Product (GDP), then Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables, click "Begin using the data", and use Section 1 - Tables 1.1.5 and 1.1.6 to identify the GDP (nominal GDP) and real GDP for the past four quarters.
a) Present the information that you received in your project.
b) Write a report, which contains the analysis of the results you received.
In this report consider, but do not be limited to the following:
Why was nominal GDP greater than real GDP in each of those quarters? What was the percentage change in Nominal GDP for the most recent quarter compared to the previous quarter? What was the percentage change in Real GDP for the two quarters?
What accounts for the difference in the two percentages?
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If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
Discuss the market for pharmaceutical drugs. Is the market for pharmaceutical drugs an oligopoly market or a monopolistically competitive market. Discuss the importance and cost of research and development. Does every drug pay off.
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Explain How did the resolution affect the short and long run costs of the firm. What are the lessons to be learned that can be applied to your position at Acme Motors in Nuevo Laredo.
Assume that the economic news is not good and businesses become pessimistic about the future. How would this change in attitude affect the investment demand curve and the impact on real GDP.
Describe situations and organizational variables that impact employee morale and explain, using examples, the impact of individual perception on morale.
Explain what it meant by liquidity trap.Use the interest parity condition to show how the exchange rate is determined in such a situation. What can monetary policy so in such a situation
Expalin how the actions of a mine operator can spend $5 million to free a trapped miner.
Proponents of trade off liberalization argue which freer trade might actually improve the quality of the environment.
A monopolist faces the demand curvep =11 - Q , where Q is measured in thousands of units. What is the monopolist profit maximizing price and quantity? What is the profit?
Are better than budget deficits over the long run because unlike budget deficits, they increase saving and investment.
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