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Suppose an economy's real GDP is $38,000 in year 1 and $41,200 in year 2. What is the growth rate of its real GDP?
(Instructions: Round your answer to two decimal places.)
The growth rate of the economy's real GDP = %
Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita?
The growth rate of the economy's real GDP per capita = %
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
Consider an economy that produces only two goods: fresh apricots and dried apricots. In this economy, the technology of producing dried apricots is to place fresh apricots on special racks and allow them to dry in the sun. Fannie's Farms is the on..
There are three goods in the consumer basket. The fixed quantities are these goods, which the consumer buys, are as follows: Food=60 units, Movies=40 units, and Clothing=90 units. Over a four-year period, the prices of these goods, PF, PM
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You are looking at the hat market. Hats sell for $15 each, and the variable cost of producing hats is Cv(H)=.25*H^2, with marginal cost MC(H)=.5*H. What is the highest fixed cost you would be willing to pay and still enter the market
Suppose that you believe the fundamental value of Wal-Grey stock is about to rise from $50 to $100 because of its new management team. You have $20,000 that you can risk in the market, where the market interest rate is 6%. You can think of four po..
My brother has a house worth $400,000 and he has no mortgage as it is paid off! His utility bills and insurance and maintenance cost him about %500 per month and property taxes another $500 per month. He claims it only costs him about $1000 a mont..
Let L denote the level of employment (measured in thousands of worker hours), and W the hourly wage. Suppose that the supply of labor is given by LS=10+2W and that the demand for labor is LD=40-W. Calculate the equilibrium wage and level of employm..
Using the four components of the GDP, If GDP is $100 billion, consumption is $60 billion,investment is $30 billion, and net exports are -$5 billion,what is government spending in this economy
Since September the RIAA has filed hundreds of lawsuits against music pirates, claiming "egregious" copyright infringement and seeking up to $150,000 per violation. Many defendants have settled out of court for up to $10,000.
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