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At a monthly staff planning meeting, the outlook for the national economy was a topic of discussion. During the discussion, one participant noted that gross domestic product (GDP) was expected to increase only slightly for the coming year. Another commented that a slight increase in the expected GDP did not necessarily mean an increase in business activity or output. Still another participant asked about the role of GDP per capita as it relates to planning. The partner-in-charge of the meeting asked that, prior to the next planning meeting, you prepare and distribute a brief memorandum defining and describing (1) GDP, (2) real GDP, and (3) GDP per capita, and how each may be used for analytical purposes. Type your communication below the line in the response area below.
After years of civil war, the Republic of South Sudan must rebuild its infrastructure from scratch. Its government is eager to encourage infrastructure investment by private investors. South Sudan has achieved greater productivity for each unit of ca..
Using appropriate models or theories, explain the economic intuition (logic) behind the following events. An increase in money supply leads to a fall in short-run interest rate. An increase in real income leads to a rise In short-run Interest rate
If a central bank intervenes in the foreign-exchange markets and buys foreign currencies:
How does the concept of capabilities to function' help us gain insight into development goals and achievement explain its contribution in measuring level of development.
Consider a 2 × 2 two-player zero-sum game in which the possible outcomes for Player 1 are win (payoff = 1) or lose (payoff = -1). The win probabilities corresponding to each of the four action pairs are UL : 1/3 UR : 2/3 DL : 3/4 DR : 1/4 a) (2 point..
Which of the following is an example of a change in the quantity demanded? (Hint. For which items is there a direct change in price that leads to a change in quantity demanded) Markets are more efficient when information is perfect; an example is:
Consider the market for vegan soup, where two firms, Kibble and Flesh Not, are in Stackelberg competition. Flesh Not observes Kibble's output level before choosing its desired output level. The market inverse demand curve for vegan soup is P: 18 - Q,..
In the United States, the average hourly earnings of production workers in 2007 were $17.45 per hour. The national minimum wage was $5.85 per hour. Assume that the minimum wage represents what a worker receives for "raw labor". Using these data, calc..
q1. a fenway park home of the boston red sox seating is limited to 39.000. hence the number of tickets issued is fixed
Most of the increase in the labor portion of total health care expenditures in the past 40 years can be explained by
Explain how will this trade affect incomes of capital owners and workers in wool industry in Australia. Apply your knowledge of an appropriate framework to illustrate this.
Elucidate what data or other factors that monetary policy makers, firms, and workers might analyze in attempting to determine if the decline in the real exchange rate is temporary or will persist.
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