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Which of the following is included in the calculation of GDP?
A. The purchase of a new edition of a foreign textbook that was produced in a different nation.
B. The purchase of ink and paper supplies by a textbook company for the production of new textbooks.
C. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country.
D. The purchase of a used textbook from a friend who took the same class last year.
My Big Banana (MBB) has a monopoly in Middletown on large banana splits. The demand for this delicacy is given by Q = 80 − P. MBB’s total costs are given by TC = 40 + 2Q + 2Q2. Its maximum monopoly profit is:
In 2001, the economy of the United Kingdom exported goods worth £192 billion and services worth another £77 billion. It imported goods worth £225 billion and services worth £66 billion. Calculate the U.K. merchandise trade deficit for 2001. Calculate..
Discuss the current monopoly to provide a brief overview of the company. How did the monopoly arise? Did the monopoly increase barriers to entry?
Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B(H)=420H-40H^2 and C(H)=100H+120H^2. The corresponding formulas for marginal benefit and marginal cost are MB(H)=420-80H and MC(H)=100+240H. Write..
Elucidate the way in which short-run AFC, AVC, ATC also MC vary as the output of the firm increases.
Suppose Canada's exchange rate with the euro rises from 1.2 to 1.4. This rise indicates a(n) ________ of the Canadian dollar, which means it takes ________ Canadian dollars to purchase one euro.
Elucidate how would an increase in airfares affect the number of highway fatalities in any one year
You plan to purchase a car for $28,000. Its market value will decrease by 20% per year. You have determined that the IRS-allowed mileage reimbursement rate for business travel is about right for fuel and maintenance at $0.485 per mile in the first ye..
Analyze the characteristics which make any transaction possible and justify the importance of each of the characteristics.
Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Max’s Income is $11. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max’s demand for both goods double?
The total payment of resource income in the economy is equal to the total value of the output. In the simple circular flow model, if planned I exceeds planned S, then. The operation of the total economy can best be demonstrated by a. The level of tot..
John Paisley is planning to buy a house for $100,000 by borrowing money at the rate of 9%.
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