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Except for the CPI index numbers, assume these figures represent billions of U.S. dollars.
Year CPI NGDIP RGDP1997 $160.50 $7,110.00 ?1998 $163.00 ? $4,896.47
Calculate the following:
a) The value of real GDP in 1997?
b) The value of nominal GDP in 1998?
c) The rate of inflation between 1997 and 1998?
d) The rate of growth of nominal GDP between 1997 and 1998?
e) The rate of growth of real GDP between 1997 and 1998?
Sean Bell invested $10,000 on a blue chip stock five years ago and paid a commission of $90. He sold it today for $14,192.20 and paid the same commission, exactly 5 years and 4 months since the stock was bought.
In a market with annual demand Q = 100 -P there are two firms, A and B, who make identical products. Marginal costs are constant and equal 10. There are no capacity constraints. a. What is the single period cournot equilibrium
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Suppose the cross-price elasticity of demand between goods X and Y is -5. How much would the price of good Y have to change in order to increase the consumption of good X by 50 percent
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Explain difference between profit maximization and shareholder wealth maximization and determine which of these is a more comprehensive statement of a firm's economic objectives?
Deborah Milstead is considering buying a home for $200,000 a) if she makes a down payment of $50,000 and takes out a mortgage on the rest of the money at 7.8% compounded monthly, what will be her monthly payment to retire the mortgage in 15 years
Assuming that this 50 percent overtime-pay premium is newly required for all work beyond eight hours per day, draw a budget constraint that pictures a strategy of cutting hourly pay so that, at the original hours of work.
The marginal cost of the wholesaler is $2. It takes one unit of the input to produce one unit of the retailer's output and in addition to the price of the input the retailer has an additional marginal cost of $2. The retailer's demand curve is giv..
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