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Indicate whether each of the following is counted in this year’s GDP:
You bought a new Wii at GameStop last year and resold it on eBay this year.
You purchase an “Investing for Dummies” book at Barnes and Noble.
You purchase a historic home using the services of a real estate agent.
You detail your car so it is spotless inside and out.
You purchase a new hard drive for your old laptop.
Your physical therapist receives $300 for physical therapy but reports only $100.
Using only.gov Websites report the current GDP, the current Federal deficit, the current Federal debt, the bottom line of the current (last) budget approved by Congress (surplus or shortage). Note that the fiscal year for the federal government is Oc..
he company will use the truck for eight years and will depreciate it over this period time with the SL method. What is the difference in the amount of depreciation that would be claimed in year five
Please, complete the following 2 applied problems in a Word or Excel document. Show all your calculations and explain your results. Submit your assignment in the drop box by using the Assignment Submission button.
Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5,000. However, Richland’s real GDP per person is growing at 1 percent per year, and Poorland’s is growing at 3 percent per year. Compare real GDP per person in the two..
The Big Short by Michael Lewis, Boomerang by Michael Lewis, Nickel and Dimed by Barbara Ehrenreich, The Great Crash of 1929 by John Kenneth Galbraith.
Which of the following always decreases as output increases? The Southern Tree Trimming Corporation reported an accounting profit of $35,000 and a normal rate of return of 15 percent on capital and enterprise of $30,000. The opportunity cost of labor..
The control function of the federal reserve system is divided into quantitative controls and qualitative controls. What is meant by the term "qualitative"?
If one defines incremental cost as the change in total cost resulting from a decision, and incremental revenue as the change in total revenue resulting from a decision, any business decision is profitable.
The federal government currently taxes alcohol on the basis of the 100-proof gallon. (Alcohol that is 100 proof is 50 percent pure ethyl alcohol; whereas wine is usually about 24 proofs, and most beer is 6-10 proof.) How would alcohol consumption pat..
Hyperinflations occur when the government runs a large budget ________, which the central bank finances with a substantial monetary ________. According to the quantity theory of money and the Fisher effect, if the central bank increases the rate of m..
Which of the following is a conclusion of using the generational accounting measure?
Government says that firm X must pay $1000 in taxes simply because it is in business of producing a good. What cost curves if any does this tax affect and does MC change if TC changes.
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