Consumption expenditure-statistical discrepancy

Assignment Help Business Economics
Reference no: EM131112503

Using this information in the table above, what does GDP equal? Items Billion of dollars Wages 300 Consumption expenditure 350 Interest, rent, and profit 50 Statistical discrepancy 0 Government expenditure 300 Indirect taxes minus subsidies 15 Net exports of goods and services -11 Depreciation 15, how do they get that answer? Do you get anything different?

Reference no: EM131112503

Questions Cloud

Cournot oligopoly outcome and monopoly outcome in terms : What are differences between Cournot oligopoly outcome and monopoly outcome in terms of the equilibrium price and quantity? Explain why it is difficult to maintain a Cartel agreement (other than it is illegal). Explain the key differences between Cou..
Describe the free-rider problem : Your economics professor assigns a group project for the course. Describe the free-rider problem that can lead to a suboptimal outcome for your group. To combat this problem, the instructor asks you to evaluate the contribution of your peers in a con..
Find the long-run equilibrium in this market : Suppose there are 100 firms in a perfectly competitive industry. Each firm has a U-shaped, long-run average cost curve that reaches a minimum of $10 at an output level of 8 units. Marginal costs are given by and market demand is given by MC(q) = q + ..
What are the national health expenditure analysis trends : What are the National Health Expenditure Analysis trends from 1970 -2003 for Healthcare? What is the magnitude and direction of cost changes within and across each of these categories?
Consumption expenditure-statistical discrepancy : Using this information in the table above, what does GDP equal? Items Billion of dollars Wages 300 Consumption expenditure 350 Interest, rent, and profit 50 Statistical discrepancy 0 Government expenditure 300 Indirect taxes minus subsidies 15 Net ex..
Key difference in assumptions between the matrices : Fan duel and draft king (daily fantasy sports leagues) have engaged in extensive advertising over the last few months. Construct two payoff matrices showing the payoffs to the firms for two different (medium and high) levels of advertising. use one p..
Monopolist can maintain the separation between two markets : Suppose a textbook monopoly can produce any level of output it wishes at a constant MC and AC of $5 per book. Assume that the monopoly sells its books in two different markets that are separated by some distance. The demand curve in the first market ..
Increase in government spending on health care : An increase in government spending on health care is likely to shift the: A. short-run aggregate supply curve to the left. B. aggregate demand curve to the left. C. short-run aggregate supply curve to the right. D. aggregate demand curve to the right..
Compute consumption and saving in each period of life : Albert and Franco both follow the life-cycle hypothesis: they smooth consumption as much as possible. They each live for five periods, the last two of which are retirement. Here are their incomes earned during each period. For each individual, comput..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd