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a) Suppose the US population is currently 303.8 million people and the population of China is 1.33 billion. If US GDP is $13,850 billion and China's GDP is $6,990 billion, what is the per capita GDP in each country? (Both GDP figures are in terms of purchasing power parity.)
b) If the US population is growing at .88% per year, while GDP is growing at 2.5% per year, and if these growth rates remain constant for the next five years, what will be the population and GDP levels in five years? Please show your work.
What is the value of the money multiplier? What is the value of the nomial money supply? What are the nominal values of deposits, currency and reserves?
Suppose two nations are considering specializing in either calculators or personal computers. If solely producing calculators, country A can produce 300 and country B can produce 400.
A profit-maximizing monopolist never produces in the inelastic part of a linear demand curve. The short-run supply curve of a competitive firm is its MC curve.
In light of Ricardian model, how might you measure the claim by developing countries that they're at a disadvantage in trade
Give at least three explanations of why economic reasoning would argue that this is to be expected.
Production Possibilities Tables for Germany and Canada (note that we are assuming that opportunity costs remain constant along the production possibilities frontier), and that each country produces only these two products).
Use Excel program to estimate of the state's demand for KBC microbrews in Ohio. Print (past) the computer regression output and provide an economic interpretation of the regression results.
When a recession is over, do people begin to immediately feel the effects of an efficient economy? Use the experience of the most recent recession to justify your answer.
Using the IS/LM/BP model, demonstrate the effect of each of the following changes. Assume that the economy is a small country with perfect capital mobility and a flexible exchange rate.
Using the exchange rates and prices in the tables above:
Article: Why you should worry about big oil. The oil industry is in the business of extracting and selling oil. It is the goal of the oil companies to do this as efficiently as possible.
Given the data of real disposable income and real consumption, draw consumption function, determine the slope-What is the marginal propensity to consume?
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