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Measuring GDP The following table shows data on consumption, investment, exports, imports, and government expenditures for the United States in 2009, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GOP using the expenditure approach.
If over speeding by 10 mph results in the probability of dying in one hour to be 1 in 400,000, use the Jones-Lee approach to estimate Junior’s value for his life if he makes $90 per hour. What if the probability of dying is 1 in 5,000,000?
In December 1994 a man in Ohio decided to deposit all of the 8 million pennies he’d been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 12.5 percent, what will be the cumulative change for the bank..
Suppose a war breaks out in the Middle East, which raised the price of gasoline in the United States. How would this impact the supply and demand for gasoline in the Unites States? Please illustrate using a graph and explain in words.
Suppose in the first quarter of the year, Real GDP was $400 billion; in the second quarter it was $398 billion; in the third quarter it was $399 billion; and in the fourth quarter it was $395 billion. Has there been a recession? Briefly explain how e..
Why might variations in the dollar's value in terms of other currencies cause the trade deficit to move independently from the changes in the government budget deficit.
Elucidate how you would address each of the main problems in the organization.
What provision of the U.S. Constitution has played the most important role in the development of civil rights policy?
How does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil? Explain, using economic terms, why this is so.
If the MARR is 8%, what is the equivalent uniform annual cost (EUAC)?
Which of the following is critical for a firm adopting a long-term cost-reduction strategy?
Converse the latest equilibrium price also quantity to result from these changes.
Identify economic forecasts for real GDP, the unemployment rate, the inflation rate, and a key interest rate. What do your forecasts imply about the relative strength of the economy over the next two years.
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