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In a series of studies of economic growth conducted at the National Bureau of Economic Research, economists showed that the historic rate of economic growth in GDP could not be accounted for entirely by growth in labor and capital inputs. Consensus emerged later that _____ helped explain this gap.
a. technological change
b. measurement error
c. inaccurate price deflation
d. labor improvement
If cost to Fruit of the Loom to producing women's underwear is C(Q) = 1 + 4Q (in cents), compute the number of women's underwear.
Illustrate what does the fundamental assumption of marginal utility theory suggest about the connection between money and happiness.
Is there a good or service you purchase currently that is sold in something close to a perfectly competitive market?
Explain why do economists believe that the CPI overstates the rate of inflation
desired consumption is cd 100 0.8y - 500r - 0.5g and desired investment is id 10 - 500r. real money demand is mdp y
Suppose15 percent increase in the price of airlines causes a 10 percent decline in the quantity demanded then what is the elasticity of demand for airlines.
Name three other providers of urgent care services. Emergency departments, urgent care clinics, and walk-in clinics supply urgent care services.What sort of shift in supply or demand would result in a market equilibrium with higher prices and sale..
Discuss and explain the relationship between Japan and Korea's unemployment? What Trends do you see in the information set?
A consumer has preferences over goods x and y. The utility function is U=sqrtx + sqrty. The marginal utilities are MUx=1/(2sqrtx) and MUy=1/(sqrty). Calculate MRS and determine if it is diminishing for this utility function. Does the indifference ..
The energy Department estimates that domestic demand for natural gas will grow by more than 40 percent between now and 2025. Distinguish between a demand function and a demand curve.
Could anyone find out how the Consumer Price Index (CPI), the primary measure of inflation used by the government, is calculated. Why might this method not reflect the real cost of living increase for the average person.
Imagine a sales tax rate is 3%. This tax rate isthe same on all purchases. The tax is not considered aproportional tax. If it is not considered a proportional tax,what kind of tax is it? Explain your answer. Use anumerical example to prove your answe..
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