Determine gdp and per capita gdp

Assignment Help Microeconomics
Reference no: EM1375761

If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?

Reference no: EM1375761

Questions Cloud

Question about economic rent : A big city just doubled the yearly fee for hot dog push carts that had exclusive rights to a spot just south of big museum of art to $288,000
Find current value of index : Imagine you have a price weighted index made up of 2-stocks, Stock A and Stock B. The price of A equals $30 and the price of B equals $70.
Computation of expected value and absolute risk measurement : Compare the work and formulas for computation of Expected Value, Absolute Risk Measurement, and Relative Risk for both projects.
Calculation of standard time : An analyst has timed a metal cutting operation for fifty cycles. The average time eachcycle was 10.40 minutes, and standard deviation was 1.20 minutes for a employee with a performance rating of 125%.
Determine gdp and per capita gdp : If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?
Expenditure versus income approach to gdp : Differentiate the expenditure versus income approach to GDP and discuss why are the results the same? What are some of the drawbacks of using GDP while doing international comparisons among countries?
Determining optimal price : Imagine that you are the manager of a gas station and your goal is to maximize profits. According to your past experience, the elasticity of demand by Texans for a car wash is -4,
Compute the quality productivity ratio : Airphone, Corporation Produces cellular telephones at a processing cost of $47 each unit. The firm manufactures an average of 250 phones per week and has a yield of 87 percent good-quality phones
Question about law of demand : The law of demand says that the price and quantity demanded are inversely related. Thus, is demand curve positively or negative sloped?

Reviews

Write a Review

Microeconomics Questions & Answers

  Derive the profit function

Consider the problem of maximizing the profit function (pi)= pY -wL subject to the production function Y= L to the alpha (as the exponent) where alpha E (epsilon) (0,1).

  Calculating output, price and total revenue

Ageless Corporation has a patent for a new promising age defying moisturizer cream. The yearly demand, marginal revenue, and marginal cost functions for this cream is given:

  Real estate brokerage market in the us

In the United States real estate brokerage industry, brokers employed by large brokerage companies have traditionally worked for a portion of the commissions they generate.

  Managing monopolistic and competitive markets

You're the GM of firm that manufactures PC's. Demand for them has dropped 50%, thanks to soft economy. The sales manager has identified only one potential client, who has received many quotes for 10000 new PC's.

  Economics from health care perspective

What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?

  Price effects-changes in elasticity of demand

You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?

  Question about solow model

Based on the Solow model, how would each of the following affect consumption per employee in the long run? Describe and illustrate your answer graphically.

  Economic profit in the short run bot

Why does rent control result in a shortage of rental units.

  Monopolistic competition-determining cost function

You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).

  Explain profit maximizing decision of pure monopolist

Please help describe profit maximizing decision of pure monopolist firm and compare it to the profit maximizing decision of the firm in a purely competitive market and a monopolist firm in the competitive market.

  Solving agency problems

The Wall Street Journal article reported that large hotel chains, such as Marriott, are tending to decrease the number of hotels that they franchise to outside owners and raise number the chain owns and manages itself.

  Marginal decision making principle

Provide specific example of how you used the marginal decision making principle to choose between two alternatives.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd