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1. We grow wheat that sells for $40,000. The wheat is milled into flour that sells for $55,000. The flour is used to bake bread that sells to consumers for $90,000.
A. $105,000 goes into GDP.
B. $50,000 goes into GDP.
C. $185,000 goes into GDP.
D. $90,000 goes into GDP.
2. If nGDP is $9000 billion while rGDP is $12,000 then the GDP deflator is...
3. Typically, a period where GDP is falling for at least 6 months is considered to be:
A. Recovery
B. Recession
C. Trough
D. Expansion
Countertrade is an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. What are the risks associated with pursuing such a strategy?
Do you think the attitudes and bargaining behaviors of the participants in collective bargaining negotiations are more or less important in the final outcome than economic conditions and factors? Why?
Do you feel that it is possible to develop a universal set of ethical standards for business, or do you believe that cultural differences make universal standards impractical and/or impossible?
Differentiate the equilibria of model. Also the classification should be a function of the bliss point of the candidates.
What would be implied by a positive price elasticity of demand?
Suppose the firms compete in quantities. If firm 1 deviates from collusion in one period, what is the profit of firm 1 in that period in subsequent periods.
q.recently there has been great controversy about some state governments attempting to use eminent domain to tear down
q1. a u.s. resident can earn 6 percent interest on a one-year bank deposit of 100000 at home. alternatively she can
A piece of equipment that was purchased two years ago for $59,000 was expected to have a useful life of 5 years with a $5,000 salvage value. Since its performance was less than expected, it was upgraded for $20,000 one year ago. Increased demand now ..
Assume that apples are an inferior good. Draw a perfectly competitive market for apples and a firm selling apples in the long run equilibrium where price is $10 and the firm’s equilibrium quantity is 50. EXPLAIN what happens in the short-run if custo..
Consider a large country importing good X in the international market. The country is large enough to influence the international price for good X. Let the initial international price of good X be $100, where the country imports 100 units and produce..
The manager of Big Oil Company in Mandeville tells investors that at the end of 2006 they had gasoline in inventory worth $446. In 2007, Big Oil produced gasoline worth $353 and sold gasoline worth $217. How much did Big Oil add to Mandeville's GDP i..
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