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a) Explain how the four uses of Output help us to determine the GDP.
b) Calculate the GDP using only those numbers that may be relevant from the following numbers
Consumption $60B
Government purchases $10B
Taxes $15B
Private Sector Gross Investment $10B
Savings $10B
Imports $6B
Exports $8B
c) Explain why Real GDP is more relevant for comparing the trends in GDP than a Nominal GDP?
When the price of a superior good increases, consumers demand more of it. As consumer income increases a larger percentage of that income is spent on superior goods.
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution and price elasticity of demand.
what is the levelized cost of electricity per kW-hr and Which press should you purchase if 120,000 nondefective units per year are produced by each press and all units can be sold?
A development of value and distribution theories. Detailed analysis of the reactions of consuming and producing units
Estimate whether each of the following would cause a shift of the aggregate demand curve, the aggregate supply curve, neither, or both.
a now add the public sector as represented by govt spending and taxes as in columns 5 amp 6 in table below.b calculate
What are some explanations for the coordination failures that prevent workers and employers from reaching agreements?
Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if..
(Functions of Money) "If an economy had only two goods (both nondurable), there would be no need for money because exchange would always be between those two goods." What important function of money does this statement disregard?
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of
1.why does rent control result in a shortage of rental units.2.how does price elasticity of demand affect how much of a
LG Electronics plans to invest 30 trillion won by 2010 to make this happen, hoping that the cost savings and reduction in risks associated with vertical integration justify the investment.
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