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Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1987 to 2005.
Year REAL GDP (2000 prices) population
1987 $6,435,000 million 243 million2005 $11.092,000 million 296.6 million
Explain the impacts of an expansionary fiscal policy such as a tax cut on the levels GDP, Consumption, Investment, interest rate and unemployment and price.
Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition?
Draw a graph showing how output evolves over time, and explain what happens to the level and growth rate of per capita income and explain what happens to the economy over time and in the long run.
Suppose as well, that all voters favoring liberal candidates will vote, while only 50% of those favoring conservative candidates will vote. Create a graph to show how the political equilibrium will differ from an election in which all citizens vot..
Explain in detail how a decrease in consumer demand for a product will result in less of the product being produced and in fewer resources being allocated to its production.
a. Aprroximately what percentage of the company's accounts receivable have balances below $30 b. Approximately how many of the 10000 accounts have balances excedding $98 Account Balance Frequency $ 0 to under 50 10 50 to under 100 15 100 to under 150..
With base year 2002, the CPI in 2011 and 2012 were 240 and 250, respectively. If a flat screen TV cost $1164 in 2011 and $1200 in 2012, was the flat screen TV more expensive in 2012?
Suppose perfect competition. Yoland is a small nation that takes world value of corn as given. Its domestic supply and demand for corn is given by the following;
Explain when an economy ever pursue a contractionary fiscal policy.
What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of unemployment? How has the number of discouraged workers changed since 2008? How does the exclusion of the discouraged worker affect..
Lerner Index to compute your price mark-up. What is your optimal price if you produce 1000 units.
Physical capital, Natural resources, Human Capital and Technical Knowledge, should it be Government policy to subsidize the production or acquisition of all or these?
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