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An open economy has the following pattern of income and domestic expenditure:
Variable / Year
Year 1 (£)
Year 2 (£)
Year 3 (£)
National income
500
250
200
Government expenditure
Private consumption
300
Investment
50
For each of the three years, evaluate the balance of trade facing the economy.
According to economist, if savings equal $5 trillion and spending equals $100 trillion, what will investment equal?
Describe the dimensions of quality from micro- and macro-perspectives. What are the different formats or models and applications of quality? Discuss the top three in your opinion.
Human service interactions in terms of macro systems-communities and organizations. Empowerment is basically a process to assist people groups, families and communities, individuals, to use their strengths to overcome their challenges.
The Heckscher-Ohlin model assumes that tastes are the same in Home and Foreign. Suppose now that tastes are different in Home and Foreign.
Mention and describe the three theories for why the short-run aggregate-supply curve is upward sloping.
If the reserve ratio is 15 percent and commercial bankers decide to hold additional excess reserves equal to 5 percent of any newly acquired checkable deposits, then the relevant monetary multiplier for the banking system will be:
Assume that software purchases by businesses are treated as expenses, as they were before November 1999. Calculate GDP using three different approaches: expenditure approach, income approach, and product approach.
You have the following information concerning the production of wheat and cloth in the United States and the United Kingdom:
The Canadian economy is in long-run equilibrium. Assume the following events occur one at a time. Show the effect of each event on Aggregate Demand and Short-run Aggregate Supply in Canada by shifting only one curve.
What are the macro and micro problems? What systems are affected structural, psychosocial, technical, managerial, goals?
Problem - Income Elasticity of Demand, Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5
Dana's Doorsteps (DD) is a monopolist in the doorstep industry. Its cost is C= 10Q and demand is P = 30- Q.
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