Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Discuss the nature and function of a price index, and describe the difference between nominal and real GDP, by answering the following questions:
1. Assume that nominal GDP for 2012 was $700B with a price index of 110 (using 2004 as the base year). What is the real GDP for 2012?
Remember: To compute the real GDP for any given year use this forrmula: Real GDP = Nominal GDP/Price Index x 100
2. Assume that nominal GDP for 2013 was $850B with a price index of 140 (using 2004 as the base year). What is the Real GDP for 2013?
Remember the formula: Real GDP = Nominal GDP/Price Index x 100
3. Did real GDP increase or decrease from 2012 to 2013? If it decreased, explain why? Compare your answers form question (1) and (2) above and answer question (3).
4. Why do economists use real GDP, rather than nominal GDP, to measure economic growth?
President John F. Kennedy proposed a tax cut in the early 1960s. He said, "It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise tax revenues in the long run is to cut tax rates now." ..
The Sequester is probably a bad idea. Use the IS-MP model to explain what should happen to the economy if the government cuts spending by 1 percentage point of potential GDP.
while the foreign demand for the firm's product is P = 10 - 2 QF . Given this information, the total demand Q (where Q = QD + QF ) that this firm faces satisfies
What is the price of an hour of leisure? An hour of nonmarket work? What does it mean to say that leisure is a normal good? Why doesn't the market supply curve for labor bend backward?
Why are trade agreements important for the various countries involved? How is international trade related to the U.S. standard of living as opposed to the standard of living of a small industrial nation or a developing nation
Describe whether Indian Consumer goods industry is growing at the cost of future profitability.
Describe the determinants of varying levels of income. What factors determine a wages of a person
Pick a policy issue which illustrates bootleggers and Baptists story. Who is who. What enables persistence of relationship. You may find this podcast helpful in understanding concepts and providing examples.
What are the differences among horizontal, vertical, and conglomerate mergers? What does the U.S. government hope to achieve through the use of its antitrust policy
Firm x develops a new product and gets a head start in its production. Other firms try to produce a similar product but discovers they have higher average total cost than the existing firm. This situation illustrates what
David black, representing the management of the automobile manufacturers disagreed with McDonald's assessment. Black cited studies that indicated price elasticity's ranging from 0.5 to 1.5.
The demand for 1,000 units of a part to be used at a uniform rate throughout the year may be met by manufacturing. The part can be produced at the rate of 3 per hour in a department that works 1,880 hours per year. The set-up cost per lot is estimate..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd