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Below are some data from the land of milk and honey.
year/price of milk/quantity of milk/price of honey/quantity of honey2008 $1 100 quarts $2 50 quarts2009 $1 200 quarts $2 1002010 $2 200 quarts $4 100
a) Calculate the percentage change in nominal GDP, real GDP and the GDP deflator in 2009 and 2010 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.
Chrysler announced a new incentive program on its minivans that included subsidized interest rates also cash allowances.
A recording company obtains the following information about the demand and production costs of its new.
Elucidate how each change mentioned in the article impacts upon the aggregate expenditure model.
why the enrollment in colleges also universities increases at times of economic recession
As part of their chores on Saturday mornings, they have to clean the bathrooms also wash the floors of the house while their parents go grocery shopping.
Using the Internet, library and/or other resources, research and briefly elucidate methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
Illustrate what does this imply about the effectiveness of monetary and fiscal policy to reduce the unemployment rate.
Elucidate the differences among a currency board, a fixed exchange rate system and a pegged exchange rate.
Use the midpoint method to compute your price elastcityof demand as the price of compact discs increases. Compute your income elasticity of demand as your income increases.
Use calculations to examine the alternatives available to Assiniboine Narrows. Then, based on your calculations, make a recommendation as to the preferred course of action.
Discuss how the two cases in this chapter illustrate the major theme of this text: changes in the macro environment affect individual firms and industries.
Oil and gasoline prices are a concern in the United States. Why does this economic problem exist from a supply and demand perspective, what can be done to improve resource allocations.
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