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a) If real GDP in 2017 exceeded real GDP in 2016, did real output rise? Did prices rise? If nominal GDP in 2017 exceeded nominal GDP in 2016, did real output rise? Did prices rise?
b) Explain the difference between the business cycle and economic growth.
3-Consider two communities. In Winchester two families earn $20,000 each, six families earn $50,000 each, and two earn $60,000 each. In Media four families earn $30,000 each, two earn $40,000 each and four earn $70,000. Which community has the more u..
What is the total purchase of tennis racquets? Why? What is the consumer surplus? Why? What is the increase in consumer surplus when the market price drops to $ 50? What is the increase in producer surplus when the market jumps to 80?
Peggy Sue: (Carefully) Ok, well . . . let me start by clarifying what your dad was saying about business expenses. Prepare a 2-3-page paper (approximately 350 words per page) explaining the following to the Erbs.
Imagine working at the Trading Desk at the New York Fed. Explain whether you would conduct open market purchases or sales in response to each of the following events. Justify your recommendation.
An electrical motor spins at a constant 2463 rpm. If the armature radius is 6.318 cm, what is the acceleration of the edge of the motor?
According to Interbrand Corporation, the Coca-Cola brand name (not the company) is worth $67 billion. At least theoretically, this is what Coke could get for the name if it decided to sell it to someone else. Economically speaking, what does this $67..
An increase in the demand for Treasury bills will
during the winter of 1973-74 a general system of wage and price controls including a price ceiling on gasoline was in
Show that the value of GDP at the point of spending balance is 6,000 billion. What proportion of investment is private saving? Government saving? Saving by the rest of the world?
Generational accounting techniques (recall Chapter 4) suggest that future income tax rates will be higher than current tax rates. How should this information affect the savings rate? How should it affect the relative appeal of Roth versus traditional..
ohn also Jeremy are utilitarian's. John believes to labor supply is highly elastic while Jeremy believes to labor supply is quite inelastic.
Russell presents a study conducted in 1984 in which 79 percent of interviewed high school males and females revealed that it was acceptable to rape a girl in at least one of nine circumstances. If this same study (citing the same circumstances) were ..
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