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In a simple economy suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. Calculate gross domestic product from the following set of numbers. Show that the expenditure approach and the income approach add up to the same figure.
Consumption $ 5,000Ivestment 1,000Depreciation 600Profits 900Exports 500Compensation of employees 5,300Government purchases 1,000Saving 1,100Imports 700
What money supply must the Bank of Canada set next year if it wants to keep the price level stable? What money supply must the Bank of Canada set next year if it wants inflation of the ten percent?
Illustrate what is the point price elasticity for each person and for the market.
Using the following data calculate Disposable Income:
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Required to find out an articles about price elasticity in the home building industry
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Compute total revenue at each and every price for this demand curve.
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Elucidate the effect of this inflow on the rental price of capital in the United States and on the quantity of capital in use.
Use the demand curve to help you calculate the number of DVDs rented per month and the amount of consumer surplus derived at a rental price of $5.
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