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Consider an economy where 1999 is the base year used for all calculations of price indices and constant-price aggregates. The price of the average good counted in GDP was 5% higher in 1997 than in 1999 and real GDP in 1997 was $64,800. In 1998 the rate of inflation was -10% (10% deflation). Nominal GDP was $61,425 in 1998 and $66,000 in 1999.
a. Calculate nominal GDP for 1997. Show your work.
b. Determine whether there was a recession in 1998 (assume that when an aggregate increases/decreases from one year to the next, it also increases/decreases in each quarter within that year). Show your work and explain clearly.
c. Find the rate of inflation for 1999. Show your work.
Several big companies offer employees time off during the workday to attend seminars on how to improve their health. Some even give bonuses to people who show that they are adopting healthy lifestyles through,
q.suppose that there is a unit mass of consumers who are uniformly distributed on the segment01. two firms are located
Find out and read two articles about a recent controversial issue involving either the Federal or state government and eminent domain.
Illustrate what price and quantity will prevail if the monopolist is not regulated. What price-output combination would exist with efficient pricing.
Estimate aggregate consumer and producer surplus before quota. Estimate new consumer and producer surplus after quota.
How does a government budget deficit affect the economy? Identify two periods in recent history in which the United States has run budget deficits. What were the reasons for the deficits during those time periods?
Scarcity is the main reason we are studying economics. Scarcity exists when human wants exceed available resources. Write a four paragraph post that explains the difference between a want and a need? Please give five examples for each of these two co..
Explain how much does the customer pay. Explain how much does the government receive as tax revenue.
Suppose she is offered a new job that would pay her $15,000 and would bring her earnings high enough so that she no longer qualified for any welfare benefits.
Department of Health and Human Services, but rather with the Internal Revenue Service. What evidence can you cite to support your position?
If B accepts, the division is implemented. If B rejects, each player obtains their outside option. Assume that if a player is indifferent between a proposed dividsion and his or her outside option, then the player accepts the division.
Laptops have also become easier also cheaper to produce as latest technology has come online.
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