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Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation.
Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.
a. Funds spent by city governments to renovate their buildings
b. The costs of air and water pollution
c. The components of an MP3 player that are produced in China
d. The value of baby-sitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
e. The leisure time they have
Illustrate the effect on the marketplace for a hr. of babysitting services 30 yrs into the future when children born today.
If the point cross-price elasticity of demand between the two companies is 0.5, how many skate- boards will Bruises and Bumps sell if Broken Bones lowers their price 5%?
The manager of a canned food processing plant is trying to decide between two labelingmachines. Determine which should be selected on the basis of rate of return with a MARR of 20%per year.
Compute most favorable output also profit for each firm and the market price. Also, compute the resulting profit of cartel.
Discuss whether perfect competition is more efficient than regular unregulated monopoly, regulated monopoly, and natural monopoly? Justify your answer using real world examples.
q1. suppose that there are crowding-out effects and the mpc is .9. by how much must the government increase
demand formula is given as p150-3q and we only have 40 tickets to sell and that the mc0 and we suppose to figured out
In "The Consequences of Mr. Keynes," James Buchanan and Richard Wagner argue that the "unwritten fiscal constitution" of an annual government balanced budget helped restrain the growth in government, but the Keynesian argument for a balanced budge..
Outline the methodology of studying economics also utilize examples in your conversion.
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
Identify four different types of Regional Trade Agreements (RTAs). 2. Examine the European Union (EU) and its current state. Discuss how the EU is related to RTAs. 3. Discuss the benefits and negative aspects of using a common currency.
In what industry will a given percentage increase in production workers result in the largest percentage increase in output.
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