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A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The price of each unit of the good in Year 1 was $280 and it was $320 in Year 2. Suppose Year 1 is taken as the base year for the calculation of GDP. Part 1(1 point) Refer to the scenario above. The real GDP of the country in Year 1 was $ Part 2(1 point) Refer to the scenario above. The nominal GDP of the country for Year 2 was $ Part 3(1 point) Refer to the scenario above. Real GDP of the country has grown by %. Part 4(1 point) Refer to the scenario above. The GDP deflator for Year 2 is . (round first decimal place)
Explain how is world currency valued against the US dollar such as Euro and Chinese.
Suppose vehicle is introduced into a central business district (CBD), doubling speed of travel for information exchange. Who financially benefits from innovation.
At the moment, the market is completely ignoring things like record US trade deficits and the widening current account deficit. It is also largely ignoring the possibility of Federal Reserve rate cuts. Traders and investors are instead focusing only ..
The charter boat fishing industry has a marginal benefit (demand) for fishing trips out of Irondequoit Bay which can be expressed as a linear function of the price of the trip and the number of trips taken out of the port. This marginal benefit curve..
Illustrate and reinforce your answer with any theories from international trade and FDI theories.
The current spot rate between the UK and the U.S. is £0.6528 per $1. The expected inflation rate in the U.S. is 1.8 percent. The expected inflation rate in the UK is 3.4 percent. If relative purchasing power parity exists, what will the exchange rate..
In the short run if the output growth is just 2% for two years and the equation determining the real interest rate changes to: r=4.5-%?Y, what money growth rate should the Fed aim for to hit its inflation target in that period?
A manager of a day-care center in Christchurch, New Zealand has a clearly stated policy that parents are supposed to pick up their children by 4pm (16:00). But often parents are late. Each week, there is an average of eight late pickups. To combat ta..
If the interest rate rises, the owners of oil will supply ________ oil today and conserve ________ for the future. An increase in the value that future consumers are expected to place on an exhaustible resource ________ the marginal cost of extractio..
What if the monopolist charged P= $5.50 for the first 3 units of the commodity and P= $4 for the next 3 units What type of price discriminiation is this?
The well known nationally syndicated columnist David Broder reported the recent findings of two academic political scientists. These scholars found that voters are quite turned off by “negative campaigns” of politicians. Many people went as far as no..
In an article about the financial problems of USA Today, Newsweek reported that the paper was losing about $20 million a year. A Wall Street analyst said that the paper should raise its prices from 50 cents to 75 cents, which he estimated would bring..
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