Determine real gdp for 1984 and 2004 in 1984 prices.

Assignment Help Econometrics
Reference no: EM13204104

Suppose that 1984 the total output in a single good economy was 7000 buckets of chicken. Also suppose that in 1984 each bucket of chicken was priced at $10. Finally, assume that in 2004 the price per bucket of chicken was $16 and that 22,000 buckets were produced. Determine real GDP for 1984 and 2004 in 1984 prices.

Reference no: EM13204104

Questions Cloud

What proportion of gs-10 accountants with the gao : Pay scales of federal government employees are determined according to each employee's government serve (GS) rating. GS-10 experienced accountants with the Government Accounting Office (GAO) were reported to earn salaries that are approximately no..
Explain arithmetic or geometric sequence : to convey the addition of S(sub1) and S(sub2) in this way. Is T(sub1) an arithmetic or geometric sequence
Find the expected profit for investing in the venture : Consider an investment of $5000 in an oil-drilling venture that is believed either to provide a return of $55000 or to result in a loss of the original investment. If the probability of success of the oil-drilling venture is.  find the expected pr..
Compute the demand function : A manufacture has been selling 1500 television sets a week at 450 each. A market survey indicates that for each 29 rebate offered to a buyer, the number of sets sold will increase by 290 per week.
Determine real gdp for 1984 and 2004 in 1984 prices. : Suppose that 1984 the total output in a single good economy was 7000 buckets of chicken. Also suppose that in 1984 each bucket of chicken was priced at $10. Finally, assume that in 2004 the price per bucket of chicken was $16 and that 22,000 bucke..
Why do national income accountants compare the market values : Why do national income accountants compare the market value of the total outputs in various years rather than actual physical volumes of production What problem is posed by any comparison over time of the market values of various total outputs
State write a program that accepts the amount : The bank will close your account when the amount becomes less than 1500 AED. Write a program that accepts the amount you want to save in the bank and prints for you the depreciation (decrease) in your savings every year because of only the bank ch..
Find the expected daily sales of convection ovens : A sales agent is provided a $50 commission in addition to her salary for each new energy-efficient convection oven she sells during a one-month introductory period. Based upon the response to the convection oven when introduced in other geographic..
Find the probability of passing if the minimum passing grade : A quiz consists of 20 multiple-choice questions, each with 5 possible choices. For someone who makes random guesses for all of the questions

Reviews

Write a Review

Econometrics Questions & Answers

  What will be the inflation rate is the velocity of money

Suppose Money Supply is growing at a rate of 7% per year and RGDP is growing at a rate of 3% per year. What is the inflation rate assuming the velocity of money is constant?What will be the inflation rate is the velocity of money is increasing 2% pe..

  Compute the profit-maximizing level of price

The industry demand function for bulk plastics is represented by the following equation: P=800-20Q Where Q represents millions of pounds of plastic. The total cost function for the industry, exclusive of a required return on invested capital, is TC=3..

  Estimation of the mean and the standard deviation

The price earnings ratio for each stock is determined through dividing the value of a share of stock by the earnings per share reported by the firm for the most recent 4-quarters.

  What term do economists use to describe the second outcome

If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year's rate of inflation What term do economists use to describe this s..

  Determine whay is the payback period

Whay is the payback period of the following investment when a) i=0% and b) i=10%/ year Initial Cost ($) 1,000,000 Annual Cost ($) 100,000 Annual income ($) 300,000 salvage Value ($) 500,000 Max Life time: 10 years

  How much of the total variation in pie sales does regression

Atlanta, Baltimore, Chicago, Denver, St. Louis, and Fort Lauderdale. Based on the pie's apparent success, the company is considering a nationwide launch. Before doing so, it has decided to use data collected during a two-year market test.

  Why is the stackelberg equilibrium not chosen

selects its own output q2. Output is homogeneous across firms and satisfies the industry inverse demand function P = 200 - q1 - q2. Both firms have zero fixed costs and total costs of Ci(qi) = 60qi. Compute the Cournot-Nash equilibrium outputs and ..

  Explain production schedule for boxes of apples

Suppose that the price of apples falls to $12 per box, but the wage rate remains at $200. Now, live happley should hire? (1,2,3,4,5 workers) Assuming that all the apple-producing firms have a similar production schedule, a decrease in the price o..

  What total output must the cartel produce

What total output must the cartel produce in order to maintain this price and what output will an individual firm be restricted if this price is to be maintained (assume all firms are permitted to produce the same level of output)?

  Calculate the economic feasibility in terms of making

As a Plant Manager your plant team informs you that they have found a way to increase the size of the manufacturing run from 10,000 to 18,000 units in increments of 2000 units. The set up cost is 150,000 and defects cost $120 for removal/repair.

  What is the first action you would take as the president

Assume that the country is in a period of high unemployment, interest rates are at almost zero, inflation is about 2% per year, and GDP growth is less than 2% per year. Suggest how fiscal and monetary policy can move those numbers to an acceptable..

  Determine the net present value of the cash flow

Determine the Net Present Value of the cash flow at annual interest rates of 15%, 20%, and 30%. At what (interpolated) rate would the NPV become zero What is such a rate called Also, calculate the payback periods

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