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There are a number of measures of aggregate economic activity, such as GDP, GNP, national income, personal income, and disposable personal income. Each of these measures can be a good indicator depending on the issue under consideration. For each of the following issues, give your reasons for selecting one of the measures just mentioned as the best indicator to use in studying the issue:
a. the proportion of income households save
b. the relative share of earnings going to labour versus capital
c. the total output of new final goods and services.
Consider a Cournot duopoly with the inverse demand p = 130 ? Q. Both firms have constant marginal and average cost MC = AC = 10. Find the Cournot-Nash equilibrium output and profit of each firm. Calculate the consumer surplus and DWL. Find the Bertra..
How would I find out by how much the price of water needs to be raised to reduce demand by 40% if the price of elasticity is 2.0.
What is the point, based on the Equimarginal Rule, which has equal marginal benefit (or the closest) for the two purchases?
Suppose a monopolistic competitor and long-run equilibrium has a constant marginal cost of six dollars and faces the demand curve given in the following table: What output will the firm choose? What will the monopolistic competitor's average fixed co..
Julon Petro Materials, Inc. ordered $8.5 million worth of seamless tubes for its drill collars from the Timken Company of Canton, Ohio. (A drill collar is the heavy tubular connection between a drill pipe and a drill bit.) At 10% per year interest, w..
While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only______ of the regional bank presidents are members of the FOMC. The Federal Reserve's role as a lender of last resort involves lend..
If the government wanted to achieve the same change in GDP as in part 8 by cutting taxes instead of increasing spending, how large would the tax cut need to be.
In the specific-factors model, an increase in the price of the manufactured good will cause:
Elucidate which methods resulted in the most hits. Elucidate which methods resulted in few or no hits.
What is one cited reason why healthcare expenditures are so high in the United States? Medicare and Medicaid reduce the supply of medical care.
Illustrate what is the efficient price of water. Illustrate what are the quantities of water allocated to agricultural also industrial use
hat same article reports that shakeup of upper-management is over at U.S. industries and that over next decade re will be a nationwide surge in demand for MBA's. How will se events affect your industry's ability to expand its own base of MBA's.
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