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What are prices indexes designed to measure? Outline how they are constructed. When GDP and other income figures are compared across time periods, explain why it is important to adjust for changes in the general level of prices.
The accompanying chart presents 2010 data from the national- income accounts of the United States.
a. Indicate the various components of GDP when it is derived by the expenditure approach. Calculate GDP using the expenditure approach.
b. Indicate the various components of GDP when it is derived by the resource cost-income approach Calculate GDP using the resource cost-income approach.
Discuss the problems of measuring productivity in actual work situations. Also how productivity might be measured for each of the following industries? Finance and insurance (examp
derive equations for IS,LM and AD curves.
Classical Quantity Theories Quantity theories have had a long history and a widespread use in economics. As originally formulated these were not explicitly designed as theories
Index number formulas
multiplier static and dynamic
Gross Domestic Savings Income not devoted to current consumption is saved. In an economy during a particular year some units will consume less than their income while some wil
Climate and terrain in several South American countries are conducive to growing coffee efficiently. While other countries can grow coffee, they are not as efficient and effective
The price and quantity of lumber and other building materials has gone up recently. Show graphically and explain what might have caused this.
Explain production as an income generating activity. What are the principal difference among government purchases of goods & service and transfer payments? Why are in
Do some research and find the inflation rate and the level of unemployment in the U.S. economy for the past 40 years. Is there a relationship between the two? If so, what type of r
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