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Consider the following data on U.S. GDP:
Year Nominal GDP(in billions) GDP Deflator(base year 2005)2009 $14,256 109.81999 $9,353 86.8
1. What was the growth rate of nominal GDP between 1999 and 2009?
2. What was the growth rate of the GDP deflator from 1999 to 2009?
3. What was real GDP in 1999 measured in 2005 prices?
4. What was real GDP in 2009 measured in 2005 prices?
5. What was the growth rate of real GDP from 1999 to 2009?
6. Which growth rate was higher between 1999 and 2009: the growth rate of nominal GDP or the growth rate of real GDP?
Lawn mowing services are supplied by a host of individuals in the suburb of Westbrook. Demand and supply conditions in the perfectly competitive domestic for lawn mowing services are:
Illustrate what do you think are the most significant determinants that would impact the supply part of the banking industry.
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Under the concept of equilibrium whenever dealing with quantity and price.
Illustrate what will happen in the short run and long run to the world real GDP and the price level. Moreover, describe what policymakers could do after this has happened.
A. What is price discrimination Why do firms engage in price discrimination B. What conditions are necessary in order to engage in price discrimination C. What is the relationship between price discrimination and price elasticity of demand
Given the elasticities in the above question and assuming that higher gasoline taxes would not shift either the SUV supply curve or the hybrid supply curve, explain how higher gasoline taxes would affect the equilibrium price and quantity of SUV's..
Demand by senior citizens for showings at local movie house has a constant price elasticity equal to-4. The demand curve for all other patrons has constant price elasticity equal to-2.
Describe how exchange rates are determined using supply and demand. What is the date and source of your exchange rates.
Illustrate what is your opinion, observation, or recommendation on this company. what are their shortfalls, how do they relate to other in the industry.
Given a situation in a monopolistically competitive market, if my price is $10 for an item and at my present rate of output, my marginal cost is $8 per unit
The government places a price floor on milk which is below the current equilibrium price of milk. The number of children who drink milk and the number of farmers who produce milk increase at the same time.
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