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1. What are some of the problems in using fixed weights to compute real GDP and the GDP price index? How does the BEA's approach attempt to solve these problems?
2. Explain what double counting is and discuss why GDP is not equal to total sales.
3. The following table gives some figures from a forecast of real GDP (in 2005 dollars) and population done in mid-2010. According to the forecast, approximately how much real growth will there be between 2010 and 2011? What is per capita real GDP projected to be in 2010 and in 2011? Compute the forecast rate of change in real GDP and per capita real GDP between 2010 and 2011.
Explore the differences between the naive Bayes model (6.27) and a generalized additive logistic regression model, in terms of (a) model assumptions and (b) estimation. If all the variables Xk are discrete, what can you say about the corresponding..
There are two sectors of the construction industry that currently pay their employees the market-clearing wage. The demand for labor in each sector is MRPL = 12 - L,where L = the number (in thousands) of workers. The supply of labor in each sector..
Compile all of the relevant data in one Excel Spreadsheet. (TIP: It works well to have all of the data on Worksheet 1 and eventually your regression results on Worksheet 2).
A high-tech company in the US can have one of the popular items made offshore at half the price of making them in the US. However, about 90% of the items made offshore will be returned within the warranty period of 1 year for repairs. The followin..
Solve Tracy's problem of how often to go to the ATM when the nominal interest rate on her bank account is 10 perent, she spends $30 each day, it costs her $.50 each time she uses her ATM, and she thinks that there is a 15 percent chance.
In April Patrick receives a 5% pay increase. Meanwhile the inflation raises the price of concerts to $10.50 and the price of Celtic Springs Water to $2.10. Draw Patrick's new budget constraint and optimal consumption bundle.
Compute and enter in the spaces provided in the accompanying table either the interest rate that the bond would yield to a bond buyer at each of the bond prices listed or the bond price at each of the interest yields shown. What generalization can..
the comparative banking assignment on market power.you works for a leading consulting company who are advising the
What organizational authority is required for the personnel who carry out the quality audit? E. What qualifications should the personnel have?
Use the information in the following table, which summarizes the payoffs (i.e., profit) to two firms that must decide between an average. Referring to the table above, is this an example of a prisoner's dilemma game
Modify the model presented in Section 14.4 such that followers can now use the innovation of the technological leader and immediately leapfrog the leader, but in this case they have to pay a license fee of ζ to the leader.
Equation (7) in Section 20-5 tells us that inflation differentials, interest differentials, and depreciation rates are all approximately equal
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