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The movements of consumption and investment
Go to the latest Economic Report of the President (www. gpoaccess.gov/eop/) and find Table B-2 ("Real GDP") in the Statistical Appendix. Note that you can download the statistical appendix separately in a spreadsheet which will be easier to work with. Retrieve annual data for the years 1959 to the most recent date available for personal consumption expenditures and gross private domestic investment. Note that the data are in real terms.
a. On average, how much larger is consumption than investment?
b. Compute the change in the levels of consumption and investment from one year to the next, and graph them for the period 1959 to the latest available date. Are the year-to year changes in consumption and investment of similar magnitude?
c. What do your answers in parts (a) and (b) imply about the average annual percentage changes of consumption and investment? Is this implication consistent with Figure 16-5?
Compute the annual depreciation allowances and the resulting book values using the double declining depreciation method for three possible salvage values: (a) $2000; (b) $778; (c) $0 With consideration of the following accounting information for a ..
a. Determine the profit maximizing level of output. b. Compute the profit maximizing price. c. Calculate the upper and lower limits within which marginal cost may vary without affecting the profit maximizing output
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The Zenvox TV Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5i, where Q is the number of tv's, P is the price per tv, and i is the average monthly income. Average monthly income is currently equal to $..
Advice for an Unprofitable Firm. You've been hired as an economic consultant by a price-taking firm that produces baseball caps. The firm already has a factory, so it is operating in the short run.
An industry consists of two firms, each of which have variable costs of $10 per unit but no fixed costs. The industry demand curve is P = 70 - Q. Solve for the Cournot equilibrium. In doing so, derive the reaction function of each firm (call Q1 an..
Kim deposits her annual bonus into a saving account that pays 8% interest compounded annually. The size of her bonus increases by $2,000 each year, and the initial bonus amount is $5,000.
What is the value of the LAC that the firm will incur?
A small country can import a good at a world price of 10 per unit. The domestic supply curve of the good is S = 50 + 5P. The domestic demand curve is D = 400 - 10P. In addition, each unit of production yields a marginal social benefit of 10. a. C..
Ilkka's income is $120 and he spends it on two goods, X and Y. His utility function is U = XY. Both X and Y sells for $2 per unit. (a) Calculate Ilkka's utility-maximizing purchases of X and Y. (b) How will his utility change if his income decreases..
Kamini consumes tacos and burritos. Suppose her marginal utility for tacos and her marginal utility for burritos are constant @ 4. Also, the price of a taco = $1.00, price of burrito = $2.00 Kamini's income (budget) = $20.00
Computer Products Corp. sells peripheral equipment used by both private businesses and the government. Due to a recession, Computer Product's sales have declined by 100,000 units and it now has 200,000 units of excess capacity.
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