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Suppose that the economy of Autoland produces nothing but automobiles. Automobiles are made with tires, steel, and glass. The following activities were observed in 2012: A rubber importer sold $200,000 of rubber to a tire manufacturer. A tire producer sold $400,000 of tires to an automobile factory. An iron ore mine sold $1,500,000 of iron ore to a steel factory. A steel factory sold $2,000,000 of steel to a steel distributor. A steel distributor sold $3,000,000 of steel to an automobile factory. A glass factory sold $1,000,000 of glass to an automobile factory. An automobile factory sold $10,000,000 in automobiles to final consumers. Given these events, calculate the GDP of Autoland using a. the final goods approach. b. the value-added approach.
Economic surplus could be increased at a higher price because firms would generate more revenue.
Elucidate how much they can accumulate over 25 yrs if they move the money into a money market mutual fund earning 5 percent.
Federal Express (a package company) lobbying the U.S. Department of Transportation to increase annual terminal fees at airports. Sailboat manufactures lobbying to increase the tolls on New York City’s George Washington Bridge.
Find equilibrium price and equilibrium quantity by solving equations mathematically. Suppose a Research study is published showing that koby beef increases risk for a heart attack resulting in a reduction of 150 pounds of koby beef consumption per..
Do you think such a policy will increase demand for electronic appliances.
Discuss why demand curve faced by a Perfect Competitor is assumed to be perfectly elastic and that of a Monopolist less elastic.
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
Use an indifference curve-budget line analysis to depict the situations, prior to the ban on smoking, of a student who smoked on campus, and of a student who did not smoke.
The market basket utilized to calculate the CPI in Aquilonia is 4 loaves of bread, 6 gallons of milk, 2 shirts also 2 pairs of pants.
What role did Red cloud play in the factional splits that occurred in the late 1860s and 1870s.
The terms of the loan are not renegotiated, so the borrower has a guaranteed nominal interest rate of 10%. What is the expected real interest rate for this loan?
Apply the decision-making model developed. What are the basic steps in all types of decision making processes.
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