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1. (a) Suppose the real GDP was $13.1 trillion in 2013 and $13.1 in 2014, what is the growth rate?
(b) How many years would it take for GDP (gross domestic product) to double using your answer from (a.)?
2. What are the sources of human capital? Discuss some specific examples.
3. What is the law of diminishing returns? Give an example of what law of diminishing returns implies.
4. What happens when the government raises taxes and uses revenue to engage in spending?
Discuss how labor market mobility affects the unemployment rate.
The Heckscher-Ohlin model assumes that tastes are the same in Home and Foreign. Suppose now that tastes are different in Home and Foreign.
1. consider a macroeconomy was initially at equilibrium level.nbsp using the short run aggregate demand and aggregate
Elucidate how cost-push inflation might prompt policymakers to take actions that subsequently cause demand-pull inflation.
1. for figure demand with zero transactions costs is q1d 50 - p and supply is qs -7 2p.a. verify all of the prices
Illustrate what is the relationship between the variable that you selected and the economy. What trends do you see in the data sets.
Assume that the aggregate demand and supply schedules for a hypothetical economy are as demonstrate:
Illustrate what impact could this have on the level of production and therefore the unemployment rate.
Illustrate the factors comprises in making decisions about pricing tobacco products indicating which would be the most influential.
Explain the process of revenue at NSU, focusing on the relationship between the increased revenue from students enrolling at NSU despite the higher tuition and the lost revenue from possible lower enrollment.
Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
Private and Public Goods) Distinguish among private goods, natural monopolies, open-access goods, and public goods. Provide examples of each.
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