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Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken and the price of each bucket of chicken was $10. In 2005 the price per bucket of chicken was $20 and 22,000 buckets were produced.
Determine the GDP price index for 1984, using 2005 as the base year.
Solve for the equilibrium price and quantity. Assume the price is expressed in dollars and the quantity is defined in 1,000's of units.
Compute the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase.
Increase the required reserve ratio Decrease the required reserve ratio Increase the discount rate Decrease the discount rate Buy government securities in the open market Sell government securities in the open market
How does an increase in income taxes on wage income affect the labor market and potential GDP? How does an increase in income taxes on interest income affect the capital market and potential GDP?
Illustrate what are the three categories of transactions in the balance of payments? Give an example of each.
Explain the principles of microeconomics apply to other country. Describe any differences or special situations.
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
The perticular information needed to calculate each metric should be discussed. For each metric discuss the appropriate target value and the actions that need to be taken to achieve the target.
If we assume that all firms in a perfectly competitive constant cost industry are identical, we conclude that, in the long run, product price will exactly equal the firms' minimum average total cost. Explain why this is true using supply and deman..
Calculate the predicted 2001 operating benifit for Con Agra and the percentage increase in operating profit.
Illustrate what happens to the natural rate of unemployment and potential GDP if cyclical unemployment.
In Japan potential GDP is 600 trillion yen and table demonstrate aggregate demand and short run aggregate supply schedules.
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