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Consider a hypothetical economy which produces oranges and chicken.
Quantity and cost of both things are given in the table. Calculate the following from the given information:
a) Nominal GDP in year 2009
b) Nominal GDP in year 2010
c) Growth rate of nominal GDP
Assume nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. In 1999 and 2001, real GDP rose by what percent?
Suppose that this price cut was completely responsible for its raise in revenues from 460 million yen in 1966 to 640 million yen in 1967. Compute the indicated arc elasticity of demand.
Monetarists believe that changes in the money supply will have no effect on real income in the long-run. In other words, they believe that money is ‘neutral' in the long-run. How does this long-run neutrality come about
Compute the monopoly equilibrium. Compute the consumer surplus. Assume this firm practices two-parts tariffs, Compute the optimal output.
The primary period had been 10 years, what would the compound growth rate have been then. What would you expect the sales to be after 16 more years.
Provide a business or political example of the prisoner's dilemma from the field of game theory. What is the payoff for each participant in your example.
Provide an example of how fiscal also monetary policies compliment or work against each other.
How would the following changes in price affect total revenue? That is, would total revenue increase, decrease, or remain unchanged? LO2 a. Price falls and demand is inelastic
The Xerxes Firm is composed of a marketing division and a production division. The marketing division packages and distributes a plastic product made by the production division.
As baby boomers retire. What will happen to supply and demand Will we use our surplus and how shown in a graph. Show aggregate demand/supply etc. should the solow growth curve be part of the graph List all that needs to be involved.
Assume you do not think that the statement does have any credibility. Illustrate what is the expected impact of the resulting policy on your business.
the study of how to increase resources and create conditions that will make better use of resources. Resource development or Economics or else.
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