Discuss the implications of this fact for the measurement

Assignment Help Macroeconomics
Reference no: EM132398559

A large part of the agricultural sector in developing countries is subsistence farming, in which much of the food that is produced is consumed by the farmer and the farmer's family. Discuss the implications of this fact for the measurement of GDP in poor countries. According to the U.S. Census Bureau, nominal income for the typical family of four in the United States (median income) was $23,618 in 1985, $34,076 in 1995, $46,326 in 2005, and $49,276 in 2010.

In purchasing power terms, how did family income compare in each of those four years? You will need to know that the CPI (multiplied by 100, 1982-1984 5 100) was 107.6 in 1985, 152.4 in 1995, 195.3 in 2005, and 218.1 in 2010.

In general terms, how would your answer be affected if the Boskin Commission's conclusions about the CPI were confirmed?

Reference no: EM132398559

Explain a professors rule of thumb

He randomly selects 8 students and finds that they study the following amounts per week: 1, 2, 4, 4, 6, 6, 8 and 14. Assuming a normal distribution, can the professor conclu

Anticipate how technology will transform business in future

Select a company or organization with which you are familiar and determine which of the five dimensions of the business environment has the biggest impact (either positive o

Question regarding the government of anchovy

In 2001 the government of Anchovy collected receipts of $100 billion and had expenditures of $125 billion. Its GDP was $400 billion. The government's deficit was what percen

Which of the internal validity conditions are violated

Another researcher is interested in the same regression, but he makes an error when he enters the data into his regression program: He enters each observation twice, so he

Delineates income and consumption levels

1. Assuming that the economy's MPC is 2/3 and that the government spending increases by $20 billion, what would be the impact on the equilibrium level of GDP? 2. If the econ

What is the relation between interest rate ana interest

Now suppose that policy makers like to increase national income. Which of expansionary fiscal policy and expansionary monetary policy is more effective to achieve the policy

What effect should factors by themselves have on export

if unit labor costs in Spain and Portugal rise, but unit labor costs in Germany decline and other producer prices remain unchanged, what effect should these factors by thems

Algebraically resolve demand and supply equation

Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook-Algebraically determine the equilibrium industry price/output combination.


Write a Review

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