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Use the following informations to comput the inflation rate between the 4th quarter 2010 and 4th quarter 2011.
Year: Qtr Nominal GDP(current dollars) Real GDP (2005 dollars)2010 4 $14, 755.00 $13, 216.102011 4 $15, 320.80 $13, 429.90
The price elasticity of demand for heroin is .27. Suppose that half of the existing heroin users support their habits with property crime. Further, the loss from property crimes committed by heroin users equals half of the total spending (total r..
What is the short-run marginal cost curve b) What is the equation for average variable cost c) What is the minimum level of average variable cost d) What is the firm's short-run supply curve
Each member of the family has the opportunity to migrate to the nearest city where there are two different types of jobs. Informal jobs are available to everybody and pay $200. Formal sector jobs are more difficult to get and p..
Your company has a customer who is shutting down a production line, and it is your responsi-bility to dispose of the extrusion machine. The company could keep it in inventory for possible future product and estimates that the reservation value is ..
Suppose that natural real output in the country of Eudemonia grows at a steady rate of 3 percent per year. In the past, velocity has been approximately constant, and the Eudemonian Central Bank (ECB) has maintained a target rea..
Suppose that the rural part of a country is hit by a major earthquake that destroys 10% of the countries housing stock. The government and private sector respond with a major construction effort to help rebuild houses. Discuss how this episode is ..
The RX Drug company has just purchased a capsulating machine for $76,000 the plant engineer estimates the machine has a useful life of 5 years and no salvage value. Compute the depreciation schedule using: a) Straight-line depreciation b) Double d..
1. The three fundamental economic questions of what, how, and for whom: a-exist because of scarcity. b-are much more serious in a socialist system. c-are not serious in a capitalistic system. d-are not relevant in the industrialized world of today.
A company is considering replacing its fleet of delivery vans and has a choice between gasoline and diesel powered vehicles. The gasoline powered truck has an initial cost of $34000 and a fuel economy of 9 MPG. The diesel powered model has an init..
Suppose worker productivity increased at the rate of 1.9% per year. If the labor force grew by 1.5% per year, what rate of increase in RGDP would be sustainable without increasing inflation pressures
Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the official unemploymen..
Despite very low growth of GDP in 2008 and 2009, and still high unemployment rate of 9.5 percent in June 2010.
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