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A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The price of each unit of the good in Year 1 was $280 and it was $320 in Year 2. Suppose Year 1 is taken as the base year for the calculation of GDP. Part 1(1 point) Refer to the scenario above. The real GDP of the country in Year 1 was $ Part 2(1 point) Refer to the scenario above. The nominal GDP of the country for Year 2 was $ Part 3(1 point) Refer to the scenario above. Real GDP of the country has grown by %. Part 4(1 point) Refer to the scenario above. The GDP deflator for Year 2 is . (round first decimal place)
All else held constant, the choice whether to use labor intensive production process or capitla intensive one depends on; 1. whether the compnay is growing or shrinking. 2. the relative prices of capital labor 3. the type of market in which the firm ..
In this discussion, you will compare and contrast monetary and fiscal policies. Consider two recent national crisis points: 9/11 and the banking failures of 2008. Was fiscal or monetary policy more immediately responsive to each crisis? Why? Was fisc..
1. price discriminationa. indicate the types of price discrimination for the cases below. based on the above examples
Illustrate what occurs to consumer also producer surplus when the sale of a good is taxed
In an essay of at least two well-developed paragraphs, explain how making regular deposits in a savings account or buying shares of stock or bonds makes an impact on our economy.
Please explain impact on economy of Government spending on Health care on interest rates, investments, employment and income in economy. Please follow sequence in question. Explain how interrelationships.
The marketplace demand for a type of carpet produced by a monopolist known as KP-7 has been estimated
q1. assume a small nation has following statistics its consumption expenditure is 15 million investment is 2 million
If the marginal cost of planting and harvesting an acre is $7000 per acre for each of the five acres, how many acres should the farmer plant and harvest.
(Figure: Corn and Watches in the United States and Canada) Referring to the graphs, we see that _____ has the comparative advantage for corn and _____ has the comparative advantage for watches.
Illustrate what factors may influence a household when deciding between buying stocks, bonds, or a house.
what is the formula for that equation? Assume you have 5 uneven payments to make and you want to know what you will be paying at 10% per payment (year) on this uneven payment.
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