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a) What is meant by real gross domestic product (RGDP)?
b) Does GDP measure only the final goods and services produced rather than all goods and services produced? If true explain; if false explain.
Show a T-account for a bank when you make a deposit of $3000 into your checking account. Assume the reserve ratio is 15%. If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $3000 ..
The Federal Reserve was created in 1913 to oversee banking activities in the United States. It is, in effect, a banker's bank. Its role is to keep banks secure and to prevent financial panic. Does the Federal Reserve have too much power or do they ne..
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept. You call your friend, an econo..
What factors give rise to increasing returns to scale and decreasing returns to scale? Define and then derive the expression for the marginal rate of technical substitution.
The long run is defined as:
The market for internet services is perfectly competitive. Joe’s Internet Services has total cost function TC(q) = 6q2 + 5q + 20 and marginal cost function MC(q) = 12q + 5. The current price per unit of internet services is $53. Determine the output ..
Look at the figure The Production Possibility Frontiers for Jackson and Tahoe. In autarky, Jackson produces and consumes 30 head of cattle and 80 bushels of wheat, while Tahoe produces and consumes 80 head of cattle and 60 bushels of wheat. With comp..
An aggregate supply curve represents the relationship between the:
The concept of opportunity cost is an important one in economics. It is essential to understand the distinction between explicit and implicit costs. For this assignment, consider an event at work that you company is considering doing, such as a new p..
All loans shall be computed at an annual percentage interest rate(APR) of 3.75%. It is assumed that you will need the loan for four years (eight semesters). You will not make any payments towards the principle of the loans while you are attending col..
The quantity of money is ?$4 ?trillion, real GDP is ?$10 ?trillion, the price level is 0.8?, the real interest rate is 2 percent a? year, and the nominal interest rate is 10 percent a year. Calculate the velocity of? circulation, the value of M? × V?..
Digital technology, including new software developments is essential for many organizations to function in the modern world. Although there is a variety of technology available, there does not seem to be an industry standard. Select what you feel are..
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