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Macroeconomics: GDP, Unemployment, Inflation, and Circular Flow
Prepare a 700 word paper in which you define the following terms:
a. Gross Domestic Product (GDP)
b. Real GDP
c. Unemployment rate
d. Inflation rate
e. Interest rate
In your paper, explain how the circular flow diagram illustrates the interaction of households, government, and business. Also, describe how current economic conditions are effecting your organization or one which you are familiar. Identify the most important economic indicator affecting your organization and explain why.
Pawel spends half of the year working in Britain where he consumes British food q and half of the year in Poland where he consumes Polish food Q.
What is the total amount of US government debt as of the time you look it up?
Suppose that rich countries surprisingly commit to much higher official aid, to be maintained for several decades. What would be the effect of such aid on?
Illustrate What would happen if prices were lowered when demand was inelastic
Given the table of marginal utilities for CD's and century books, calculate the optimal quantity and total utility at equilibrium. Draw Sarah's budget line for part a and her budget line for part b on the same graph.
Elucidate the roles of government bodies which determine national fiscal policies.
Define the following in three senctence minimum definition.
CEO pay appears to be on the rise again. Also executive pay in the US is about 20 times higher than it is in European countries.
Illustrate the difference among the midpoint price elasticity.
A scientist wants to determine the half-life of a certain radioactive substance-Based on the data, what is the half-life?
These specials comprises of a significant price reduction on selected menu items purchased before some pre-determined time
Give the utility function U(x, y) = (x-4) 1/2 (y-2)- 1/2 , what is the minimum income needed to ensure positive utility?
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