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U.S. Nominal GDP for the year 2010 was $14,658 billion, whereas in 2000 it was $9,951 billion. The GDP deflator for 2000 (2010) was 88 (111) using 2005 as a base year. Using the compound growth formula xt+n = xt(1 + g)^n (where xt is the value of the series at time t, n is the number of years, and g is the annual growth rate), find (correct to 2 decimal places, ie. 2.75%)
At the beginning of the 2000s, the United States imposed high taxes on a number of European goods due to a trade dispute. One of these goods was Roquefort Cheese. Show how this tax affects the market for Roquefort cheese in the United States, shif..
Determine the pros and cons of a company that competes in a global environment and how do you think this has affected United States economy and global economy?
Demand for U.S. cotton has been estimated to have a price elasticity D,P equal to -1. Supply for U.S. cotton has been estimated to have a price elasticity S,P equal to 0.5. Suppose the government decides to subsidize cotton growers
Use a graph of the pollution abatement market, model a condition in which allocatively efficient level of abatement occurs at 100%, or equivalently where pollution is zero
(Depository Institutions) What is a depository institution, and what types of depository institutions are found in the United States How do they act as intermediaries between savers and borrowers Why do they play this role
In the early 1930s there were a number of bank failures in U.S. What did this do to money supply? The New York Federal Reserve Bank advocated open market buys and list the costs of high inflation.
The federal reserve arranges to make lonas to a banks automatically whenever an economic down-turn beginsB.) As the economy heats up, the resulting increase in equilibrium income immediately results
why the general level of wages is higher in the United States and other industrially advanced countries. What is the single most important single factor underlying the long-run increase in average real-wage rates in the United States
The given matrix shows the payoffs for an advertising game between Coke and Pepsi. The companies can choose to advertise or to not advertise.
If so, describe what impact this might have on (1) U.S. balance of payments, (2) Chinese balance of payments, (3) relative competitiveness of Mexico and Thailand, (4) firms such as Wal-Mart, and (5) U.S. and Chinese retail consumers.
A country has domestic investment of $100 billion. Its citizens purchase $500 of foreign assets and foreign citizens purchase $300 of its assets. What is national saving
In 1939, with the U.S. economy not yet fully recovered from the Great Depression, President Roosevelt proclaimed that Thanksgiving would fall a week earlier than usual so that the shopping period before Christmas would be longer.
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