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Use the following data to answer questions 1-3 (be sure to provide all calculations).
Quanity Prices
Year CD's Tennis Racquets CD's Tennis Racquets2005 90 180 $18 $1002006 100 190 $20 $110
Calculate the value of the price index for GDP for 2006 using 2005 as the base year. By what percent did prices increase?
Now calculate real GDP for 2005 and 2006 using 2006 prices. By what percent did real GDP grow?Review the GDP information for the past few years from the Bureau of Economic Analysis's Website. Provide a brief summary of the GDP trends over that timeframe and discuss two or three events which may have caused these trends.Be sure to show your work for each calculation.
What do you think large corporations like Microsoft and WalMart should be regulated more or less than they are.
Utilizing an AD-AS diagram suppose that the economy is initially at potential output
Explain why do you think that whenever the government needs to raise their revenue they usually decide to increase the tax on items such as gas
Problem based on Utility Function - Problem, Answer and explain the following using a diagram which is completely labeled.
Compute the point price elasticity of demand for bearing grease. Compute the optional price for bearing grease if marginal cost is $4.50 per unit.
Describe the following statement: "In competitive market the least-cost production methods are revealed by entry and exit, while in public utility regulation they're revealed by commission rate hearings. It is easier to fool commissi..
High Mark Industries sells solar water heaters to households interested in lower energy bills and sustainable energy.
What is the level of price, output, and amount of profit for an unregulated monopolist? Analyze the effect of regulation on the allocation of resources. Which situation is most efficient? Which situation is most likely to be chosen by government? ..
Illustrate what effect if any will this have on competition with Canadian and US firms. Elucidate extent is your answer industry dependent.
Illustrtae what are the nominal rates of interest for both the United States and the euro area?
Emily makes cartoons whioch she sells to her classmates. Her average product of labor is 5 cartoons every hour if she works for one hour, four per hour
Elucidate why not the change in the price of military goods will be reflected in how the United States measures inflation.
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