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Gross Domestic Product (GDP) only measures the value of marketed goods and services for a country during a given period of time.
Is the GDP measure underestimating or overestimating national production and total income in the economy? Why?
What are the limitations of the GDP in measuring total output and national welfare? What products (services) are excluded from the GDP computation?
Assuming Norma has no other capital gains or losses, how does this information affect her taxable income for 2010.
Assume a firm has production technology given by f(L,K) = L^1/3 K^1/3. Assume pK = 1 = pL and compute the firm’s short-run and long-run cost functions.
q.suppose you consume nothing but goods x and y. we have two years? of data regarding your consumption and incomeyear
During the most recent recession General Motors and Chrysler lost huge sums of money in their operation (not counting government bailout money they could not assume they would get). How could they continue to operate at a loss?
Explain why each of following is or is not a valid probability distribution for a discrete random variable x: See p.183-84. 4.16 Toss three faircoins and let x equal number of heads observed.
Which of the following is a short-run adjustment?
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Economists have explained why tax rebates have failed to boost consumption spending. One reason for this failure is that many people who received the rebates used them to pay off debts instead of spending funds on goods and services. Why households t..
Rick Nash, a player for the Columbus Blue Jackets hockey club earned $5.25 million this year. The CPI for this year is 225, base year 1983. If Rick were to maintain his current purchasing power how much would he have earned in 1983?
What would happen if suppliers charge less than the equilibrium price for your good or service.
Ron supervises delivery of flowers for a wholesale distributor of fresh flowers, Flowers. Inc. In order to accommodate one of the company's best customers, Ron offers to immediately rush a delivery of fresh peonies. All of the delivery trucks are cur..
sir francis galton a cousin of james darwin examined the relationship between the height of children and their parents
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