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At a monthly staff planning meeting, the outlook for the national economy was a topic of discussion. During the discussion, one participant noted that gross domestic product (GDP) was expected to increase only slightly for the coming year. Another commented that a slight increase in the expected GDP did not necessarily mean an increase in business activity or output. Still another participant asked about the role of GDP per capita as it relates to planning. The partner-in-charge of the meeting asked that, prior to the next planning meeting, you prepare and distribute a brief memorandum defining and describing (1) GDP, (2) real GDP, and (3) GDP per capita, and how each may be used for analytical purposes. Type your communication below the line in the response area below.
When long-run average costs are rising, short-run and long-run marginal costs: (a) Intersect above average costs; (b) Intersect below average costs; (c) Intersect at the level of average costs; (d) Never intersect.
Explain what consumer surplus and producer surplus is and how it can be found. Explain what a deadweight loss is and what causes it. Explain the difference between private goods and public goods. Explain what a negative externality is and how it can ..
A women's health clinic has recognized the need to segment its market. Identify three bases by which this clinic might segment the female market, and identify the manner in which the "product" component of the marketing mix would change in light of t..
In the course of conducting a valid stop and frisk for weapons, if the police officer discovers evidence of another crime for which an arrest is proper, the officer:
Our desires and satisfactions are often relative not only to what others have but also to what we ourselves have become accustomed to. A small amount of tasteless food can be the source of immense satisfaction to a very hungry person. The marginal co..
What do you think the sign and magnitude of the Cross-Price Elasticity of Demand would be between premium juices and soda.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Explain how the following events will affect the demand for money according to the portfolio theories of money? demand: The economy experiences a business cycle contraction. Brokerage fees rise?, making bond transactions more expensive. Explain how t..
q1. would elasticity be constant for the demand curve represented by the equation q5000-0.5p?whyq2. if the cost
Fair cross Farms harvests its crops four times annually and receives payment for its crop 90 days after it is picked and shipped. However, planting, irrigating, and harvesting must be done on a nearly continual schedule.
Explain four problems with the argument that trade protection is needed to protect American jobs. b) Describe the economic reasons why businesses use off shoring.
The average consumer income is $20,000, and the price of the related good is $1.10. Compute the predicted quantity demanded of X at these prices and income.
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