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Review the Federal Reserve Board website. Identify at least five key pieces of data (links) you would use in microeconomic decision making on the Web site, and tell what data that link provides to economists and for what it may be used.
1. Why do national income accountants compare the market value of the total outputs in various years rather than actual physical volumes of production?
2. What problem is posed by any comparison over time of the market values of various total outputs?
3. How is this problem resolved?
Discuss the problems of measuring productivity in actual work situations. Also how productivity might be measured for each of the following industries? Finance and insurance (examp
Index number formulas
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Typical start-up businesses' estimated profit are forecasted as following: State Bad Good Probability 81% 21%
Which of the following is assumed in constructing a typical production possibilities curve? a. the economy is engaging in international trade. b. production technology is fix
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What is the difference between economic growth and economic development? Growth is only individual dimension of development. Economic development is a complicated multi-dimensio
The marginal approach to profit maximization means that a firm should produce until a. marginal revenue equals zero b. marginal revenue equals marginal costs c. marginal cost becom
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