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Gross Domestic Product equals $1.2 trillion. If consumption equals $690 billion, investment equals $200 billion, and government spending equals $260 billion, then:
a) exports exceed imports by $150 billion.
b) imports exceed exports by $50 billion.
c) exports exceed imports by $50 billion.
d) imports exceed exports by $150 billion.
You are the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees. What raised in the joint session of the subcommittees.
A country imports 5 billion tonnes of coal per year and domestically produces another 4.5 billion tonnes of coal per year. The world price of coal is $50 per tonne. Assuming linear schedules, economists estimate the price elasticity of domestic suppl..
q1. the sales tax rate applied to all purchases within a state was 0.04 4 percent throughout 2006 however increased to
Joe has never trusted banks and always kept his money in cash. Joe pulls out his money jar, discovers that it has $20,000 in it, and decides it is unsafe to keep that much cash. Joe stops at the Local
How will the unemployment rate during the current period compare with this economy's natural rate of unemployment? What will tend to happen to resource prices in the future?
In October 2011, Apple introduced the iPhone 4S, which had new features, including camera and voice control, but sold at the same price as the previous iPhone model. How did the introduction of the iPhone 4S affect the Consumer Price Index? What fact..
What would happen in this market? If consumers’ expectations were such that they were concerned about the economy and jobs, what would you think would happen in this market?
Skectch the fundamental analysis of the supply and demand curve for the British pound in terms of dollars. (The quantity of pounds on the horizontal axis and the US dollars per pound on the vertical axis.
What are the equilibrium price and quality? What is the market outcome if the price is $2.75? What do expect to happen? Why? What is the market outcome if the price is $4.25? What do expect to happen? Why? What are the equilibrium price and quality i..
Question 1: Two firms compete in an undifferentiated Bertrand market. Suppose that the firms face a demand curve given by P = 80 - Q and both firms have constant marginal cost of 60.
Compute how many acres, hectares each person wold occupy if all U.S. residents.
In order to create more revenues for government, taxes should be implemented on either wealthy individuals or on the luxury items they buy (i.e. jewelry, yachts, stocks and bonds, expensive cars) because they can afford them the most.
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