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Based on the information contained on the Web site above, answer the following questions:
What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008?
What was national income (NI) for 2008? What does national income tell us? What is the difference between GDP and NI? How has NI changed since 2008? What caused these changes?
What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes?
Does GDP measure the well-being of society? Why or why not?
What was GDP in 2008 (sometimes called GSP) for your state? How does your state rate when compared to other states?
The newly established Bureau of Time Travel has been given authority to regulate time travel. If the bureau sets a price that allows Time Riders to earn a normal profit (that is, a fair return), illustrate what price will time travelers pay per tr..
The following sets of statements contain common errors. Elucidate and identify each error.
How might the firm deal with the problems that such a strategy poses?
Consider the following: Clark was considered to have “thought out the concept of marginal utility and its influence on exchange value” without having read Jevons, even though Jevon’s had already published. Discuss how this affected his contributio..
You find out which your aunt works for a defense manufacturing company which has several defense contracts with the government.
Illustrate money supply should the Bank of Canada set next year if it wants to keep the price level stable.What money supply should the Bank of Canada set next year if it wants inflation of 10 percent.
Suppose that the real interest rate increase to r = 0.11. Elucidate real output have to be for equilibrium price level to remain at its initial value.
Assume that the benefits and costs of infrastructure improvements are for one time only - i.e., ignore all long run implications. What are benefits and costs of infrastructure improvements.
q.suppose that the us government determines that cigarette smoking creates social cost not reflected in the current
In Akerlof’s lemons problem, with symmetric information, suppose that 5 cars are available in equal quantity and with quality levels 0, 1, 2, 3, and 4. Suppose the sellers have a reservation price of $2,000 per unit of quality, and the buyers value c..
a multinational engineering consulting firm that wants to provide resort accommodations to certain clients is
Show what would in the market for unskilled labor if Congress were to raise the federal minimum wage to $9.00 per hour. The value of the Syrian pound has dropped
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