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Suppose an economy’s real GDP is $52,000 in year 1 and $54,200 in year 2. What is the growth rate of its real GDP? Instructions: Round your answer to two decimal places. The growth rate of the economy's real GDP = % Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? Instructions: Round your answer to two decimal places. The growth rate of the economy's real GDP per capita = %
There are three possible outcomes; in the outcome ai a decision-maker gains $ai, where a1
Which firm's product provides the greatest value-created. In an industry equilibrium in which the firms achieve consumer surplus parit.
Gomez runs a small pottery firm. He hires one helper at $18,000 per year, pays annual rent of $8,000 for his shop, and spends $24,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) t..
Consider a Stackelberg game of quantity competition between two firms. Firm 1 is the leader and firm 2 is the follower. Market demand is described by the inverse demand function p = 100 ? 2Q. Each firm has a constant unit cost of production equal to ..
What has happened to the US Dollar exchange rate with the Euro (the currency of the European Union) over the past four years. What are the explanations for any changes? What does it mean to Americans?
Assume that a corrective tax is placed on aircraft passing over a residential area that is located near an airport. Should the proceeds of the corrective tax be used to compensate those who are harmed by the aircraft noise? Explain.
Suppose Alan’s preferences are described by the utility function: Find the equation for Alan’s indifference curve through the bundle (3, 6).
Is the long term survival of the United states economy at risk because of the United states government's level of debt and the amount held by foreign entities sick as China? Why or why not?
Discuss the strategy of your organization according to the specificities of your business environment - Explain how your organization can achieve significant cost savings and marketing benefits through the use of the internet technology.
Compared with lower inflation rates, a HIGHER inflation rate will (increase/decrees) the after-tax real interest rate when the government taxes NOMIAL interest income. This tends to (encourage/discourage) saving, thereby (increasing/decreasing) the q..
There are four different market structures into which all firms and industries fit into. They are Pure or Perfect Competition, Pure Monopoly, Monopolistic Competition and Oligopoly. Name any firm (e.g. McDonalds, Jackson Electric, or Home Depot) or a..
Suppose the market of chocolates is unregulated. That is, chocolate prices go are free to adjust based on the forces of supply and demand. If an excess demand exists in the chocolate market, then the current price must be _____ (higher/lower) than th..
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