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The RGDP per capita
1.Assume last year's real GDP was $7,000 billion, this year's nominal GDP is $8,820 billion, and the GDP-deflator for this year is 120. What was the growth rate of real GDP? Does this show an improvement in economic welfare? (Clearly explain your answer)
2. Suppose the value of the French Franc in terms of the dollar is 50 on October 12 , and 44 on October 17.
By how much has the Franc appreciated or depreciated against the dollar?
3.Suppose the Value of French Franc in terms of the dollar is 40 on October 12 and 45 on October 17. By how much has the Franc appreciated or depreciated against the dollar?
What is the main policy message of the AS-AD model, and how does it relate to the 1930s Keynesian revolution in economic theory? What should today's policy-makers assume about the natural rate of unemployment?
Elucidate the elasticity of demand given the price and income combination.
Most Republicans need to reduce federal spending. Democrats do not want to reduce federal spending by as much as Republicans do.
What takes palce to output, the optimal scale of a firm, and price if there is a free entry into the market.
The decisions of the World Trade Organization in particular have been the subject which has much criticism.
Pamela Sue, proprietor of Heartland Supermarkets which would like to raise her current sales of corn from 250 bushels per week to 500 bushels per week.
At what price will she buy four visits? Eight visits? What is the elasticity of between a price of $5 and $6 per visit? Between a price of $29 and $31?
A perfectly competitive firm should hire an additional worker only if the employee 's marginal revenue product is less than the wage rate.
From the regression output, estimate the demand function when income is $40,000 and price is $2 per gallon. Explain the result in terms of R-square, T-test, F-statistic, and signs of each X variables.
Assume the role of regional integration in promoting global business of Kenya, Africa.
Assume the government decides to pass a law that requires all businesses to delay all future layoffs, giving at least 3 months notice to any workers they plan to lay off.
Assume that you are the chief economic advisor to the president of the U.S..
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