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Per capita real GDP is given by the equation y = Y/PN, where Y is nominal GDP, P is the GDP deflator, and N is population. In the United States, if the average growth rate of nominal GDP is 2.8 percent, inflation is 1.6 percent, and population growth is 0.5 percent, what is the growth of real GDP? Per capita nominal GDP? Per capita real GDP?
"Nothing is more useful than water: but it will purchase scarce anything; scarce anything can be had in exchange for it. A diamond, on the contrary, has scarce any value in use; but a very great quantity of other goods may frequently be had in exc..
43 If the money supply rises , what must happen to GNP under the equation of exchange 44 What is the most important form of money in the U.S. 45 What is the most important instrument of monetary policy 46 Define federal funds rate
The “Take It Home Today” promotion guarantees buyers of new plasma TVs that they are entitled to get any sale price the company might offer for the next 30 days. Do you think such a policy will increase demand for electronic appliances.
1. Suppose that you learn that a friend recently received a substantial inheritance. Your friend was given two choices: 1) wait 10 years and receive the inheritance or 2) receive the present value of the inheritance (using a 3% discount rate) now...
The only variable input a janitorial service firm uses to clean offices is workers who are paid a wage, w, of $8 per hour. Each worker can clean four offices in an hour. Determine the variable cost, average variable cost, and the marginal cost of cle..
Which exchange rate regime minimizes the effect on output-fixed or floating?
a. How would an economist explain the decline of the Alaska king crab fishery? b. Explain two programs you could institute to protect the fishery and still allow some crabbing again.
What is a price taker? Discuss the assumptions that are made in order to obtain the perfectly competitive model.
A) Explain the meaning of future values VS present values calculation in money and banking.
Pam, having recently graduated from college, is looking to work for 2 years before she enters graduate school. She has received 2 job offers with the following salary structures:
You are to develop a simple database that will store notebook specification including price foreachnotebook using Microsoft Access 2003/2007/2010/2013.Followtheinstructions below.
What is themaximum that the government would be willing to pay for the patent? (Hint: the government would liketo maximise total surplus of producers and consumers in the market, but is not willing to pay more thanthe total surplus generated by th..
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