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In recent decades, women have worked more hours in paid jobs and fewer hours in unpaid housework.
a. How would this increase in work hours affect GDP?
b. Explain why this increase in measured GDP will overstate the true increase in output. Also explain how a set of augmented national accounts which includes home production would treat this change from nonmarket work to market work.
c. Explain the paradox, "When a person marries his or her gardener, GDP goes down."
Examine the price-change numbers shown in the example on page 403.
a. Use the formula to calculate the increase in the CPI from March 2007 to March 2008 to two decimal places. Verify that the number shown in the table is correct to a single decimal place.
b. The level of the CPI in March 2007 was 205.10. Calculate the CPI for March 2008
Suppose the consumption function is C = $500 billion + 0.9Y and the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially (before multiplier effects) with: A) $50 billion increase in governm..
If the firm can not produce in total more than 14 units, then what would be the maximum profit and the optimal values of Q1 and Q2? Find an answer using the Lagrange multiplier. Find a value of the Lagrange multiplier. What economic interpretation..
With fixed government expenditures of G = 150 and fixed taxes of of T= 200. Assume that that consumers behave as described in the following consumption function: C= 150 + .75(Y-T)
What are the exogenous variables in the two equations above? what are the endogenous variables
The demand function for Einstein Bagels has been estimated as follows: Qx = -15.87 - 40.73Px + 84.17Py + 0.55Ax where Qx represents thousands of bagels; Px is the price per bagel; Py is the average price per bagel of other brands of bagels
in a random sample of 25 individuals, you find the average to be 44.473 movies with a sample variance of 81. what is the p value for a two tailed hypothesis test where the null is that the tru population value is 40 movies
As a budding entrepreneur, you have purchased a small bakery. You have engaged in a market study to categorize your customers' willingness to pay for a donut/coffee combo into 9 equal sized groups: ($3.00, $2.75, $2.50, $2.25, $2.00, $1.75, $1.50,..
Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.
Suppose the Fed buys $100 million Euros with Federal Reserve Notes and, at the same time, sells $100 million of U.S. government securities for cash in a domestic open market operation.
a. What is the marginal product of the sixth worker b. If, when the price of asparagus increases to $3 a box, the farm hires eight workers, what is the marginal product of the eighth worker
Suppose advancing technology (e.g., the miniaturization of electronic circuits) increases the productivity of the 90-laborer workforce by 20 percent. Draw a third production possibilities curve (PT) to illustrate this change.12
Derive GGC's marginal revenue (MR) and marginal cost (MC) curves in each market. Show graphically GGC's demand, MR, and MC curves for each market.
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