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To compare levels of production from different years, the appropriate measure to use is:
A. nominal GDP
B. the GDP deflator
C. GDP-GNP
D. real GDP
The Deering Manufacturing Company's short-run average cost function in 2012 was AC = 3 + 4Q where AC is the firm's average cost (in dollars per pound of the product), and Q is its output rate. Derive an equation for the firm's marginal cost function.
If a perfectly competitive firm in the short run can sell its output at $2.50 per bushel and it has an average variable cost of $2.75 per bushel and a marginal cost of $2.50 per bushel it should
Name some goods or services that are traded internationally. Name some goods or services that are not traded internationally. What are some differences between goods and services that are traded and goods and services that are not traded?
The institution of payment according to one of eighty home health resource groups (HHRGs) limits the payments to a provider over a 60 day period. No matter how many times a provider visits a home during the 60 day period, the price remains at the HHR..
Bleacher tickets for the game were sold out and many fans would have attended if tickets were available? What is the main rationing mechanism to allocate tickets for the game?
Why do cotton growers spend billions of dollars to dam rivers and transport water hundreds of miles to grow cotton in California deserts?
what is the return on operating capital that BIDDLE is currently deriving? Then if J.P. Morgan chase is loaning operating capital to the company at 7.5%, what is the cost of capital for the BIDDLE Company and is the company covering opportunity c..
Suppose that doctors’ visits cost $20, and the typical consumer has an income of $100. Consumers spend all of their incomes on doctors’ visits and a composite good that costs $1 per unit. a) Draw a graph that illustrates the consumer’s budget constra..
If banks desire to retain excess reserves of 10% of total checking accounts and borrowers hold 10% of their new checking accounts (loans) for liquidity purposes and do not spend that 10%, what will be the maximum impact on the money supply in the for..
According to the Taylor rule, what is the federal funds target rate under the following conditions?
A firm's production function is qi = .2*Ki.2Li.4. The wage rate in this area is w = $15, and the cost of capital is r = .05. Find the firm's short run cost function, if Ki is fixed at $100,000. If the good is exported around the world at a price of $..
Everything else held constant, when the nominal exchange rate in units of foreign currency per unit of domestic currency decreases, the ________ domestic assets ________.
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