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Consider the following preliminary data for 2011: ($ in billions)Consumption 10800.0Government Purchases 3060.0Exports 2100.0Imports 2600.0Factor Payments from abroad 779.3Factor Payments to abroad 533.8Consumption of Fixed Capital 1950.1Statistical Discrepancy 0Indirect Business Taxes 1153.9Corporate Profits 1942.8Rental Income 403.1Net Interest 535.1Compensation of Employees 8465.5Propietors' Income 1075.0Social Insurance Contributions 926.4Dividends 791.9Government Transfers to Individuals 2336.2Personal Interest Income 998.1Personal Tax and Non-Tax Payments 1403.3a. Calculate National Incomeb. Calculate Personal Income and Disposable Personal Incomec. Calculate Gross National Product (GNP)d. Calculate Gross Domestic Product (GDP)e. Calculate Investment
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses
What is the cost of producing q output in the short-run? d. What is the marginal cost of producing a 301s unit? A 401st unit? If you are comfortable doing so, you may answer this question by writing down the marginal cost function directly, rather..
suppose that a researcher discovers that a measure of the total amount of debt in the U.S economy over the past 20 years was a better predictor of inflation and the business cycle than M1 or M2. does this discovery mean that we should define money..
Jeff owns a garage and has 3 mechanics to help him. With the tools used being fixed in the short run, his production function is given by 5 + 2L = Y , where L is the number of mechanics and Y is the number of cars they can fix. If Jeff hires a fou..
If American workers produce 4 cars a year and 10 tons of grain and Japanese workers can produce 4 cars per year and 15 tons of grain, what would the PPF (Production Possibilities Frontier) graph look like
You are the manager of a firm that receives revenues of $30,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross-price elasticity of demand between product Y and X..
One of your professors has made you an offer you can't refuse. You are getting a four year research assistantship to earn your PhD after you receive your BS degree. The assistantship will pay you $2,600 per month starting in June, immediately afte..
In the late 1990s a growing number of economists argued that world policymakers were focusing too much on fighting inflation. The economists also argued that the technical level of potential output had risen. Show their argument using the AS/AD mo..
GeeM has a sporty wheel package and a luxury interior package that is considering offering to its auto boyers. GeeM has estimated that there are three consumer types (A, B, and C - all of equal magnitude - for simplicity, consider it one of each ..
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following c..
Suppose the economy is in a short-run equilibrium where Y
What is the sample standard deviation of weights and calculate the change in weight
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