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Detailed Explanation to GDP
Calculate the totals change in a year's GDP
A family sells a home, without using a broker, for $150,000. They could have rented it on the open market for $700 per month. They buy a 10-year old condo for $200,000; the broker's fee on the transaction is 6% of the selling price. The condo owner was formerly renting the unit for $500 per month.
Suppose that there are N firms in a competitive industry-Calculate the number of firms that will be in the industry in the long run and what will be the profit of each? Explain.
Analyze the relationship among fiscal and monetary policy in an open economy.
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
What will be the effect of this change in policy on both the real and the nominal interest rate in the long - run?
A decision by the U.S. to utilize fiscal policy to run a fiscal deficit, chiefly through unprecedented heavy spending, to stimulate the US economy
A tariff is simply a tax on imports. Use our model of the excise tax (with diagram) to describe why domestic firms request that tariffs be imposed.
Explain her change in consumption in terms of income and substitution effects (give a precise quantitative answer). Is this a Griffin good (how do you know)?
How would each of the following affect the firm's marginal, average, and average variable cost curves?
Suppose the emarginal cost of producing the good in before question is aconstant $ 10 per unit of output . What quantity of output will the firm produce.
Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product.
The government imposes a fixed fee per year on each firm operating in a competitive market.
Consider a competitive market for which the quantities demanded and supplied (millions per year) at various prices are given as follows:
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