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Question: Real versus nominal GDP (a FRED question): Using the FRED database, locate notice that there are both annual and quarterly data (i.e., measures of production every 3 months) available. For the purpose of this question, let's stick with the to find this is to type "annual nominal GDP" and "annual real GDP into the FRED search box. (For an introduction to FRED, see the case study "The FRED Database" earlier in this chaper on page 34.)
(a) What is the value of real GDP and nominal GDP for the most recent the data on real and nominal GDP for the U.S ou annual data. The easy way f year available? Explain why these numbers are different?
(b) What was the value of real GDP and nominal GDP in 1970?
(c) By what factor (e.g., a number like 2.0 if it doubled) did real GDP increase between 1970 and the most recent year? What about nominal GDP?
(d) What explains the difference between the two numbers in part (c)?
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Explain how governments restrict international trade and who benefits as well as who loses from the restrictions.
How would you compute the elasticity of wages and salaries per em- ployee with respect to the unemployment rate U?
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Identify a capital improvement that could help Betty with her Alpaca business - How the capital improvement you identified could help the business.
the village of pescatore is situated next to a medium sized lake in which citizens can fish from privately owned boats.
A batch of 10000 steel bars has been manufactured. The mass of those bars varies according to the normal distribution with a mean of 5.3 kg and a standard deviation of 0.2 kg. Specifications call for the bars to have a mass of between 5.0 kg and 5.6 ..
Greg wants to have $50 000 in five years. The bank is offering five-year investment certificates that pay 8 percent nominal interest, compounded quarterly. How much money must he invest in the certificates to reach his goal?
Calculate the equilibrium level of income and indicate it in a graph
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