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Submit a 4- to 5-page paper that addresses the following questions. Be sure to use references within the paper to support your answers. Show work for all calculations 1. Suppose that in 2013, the economy produced 10 shirts at $20 each and 5 hamburgers at $5 each. In 2014, the economy produced 15 shirts at $21 each and 10 hamburgers at $6 each. What is the value of real GDP produced in 2014 using 2013 as the base year? What would be the growth in real GDP? 2. Why is there unemployment even when the economy is at "full employment"? What are some "costs of unemployment"? 3. Use the table below: Year CPI 2008 100.0 2009 102.5 2010 106.0 2011 111.0 a. What is the inflation rate from 2010 to 2011? b. Suppose that you have an income of $30,000 in 2008. How much would you need to be able to have the same standard of living in 2009? c. What are some of the problems with using the CIP as a measure of standard of living? 4. Explain some limitations of using GDP as an indicator of standard of living (be sure to do some research on your own). Assignment Expectations Use information from the modular background readings as well as any good-quality resource you can find. Make sure you cite all resources you use and provide a reference list at the end of your paper. Length: 4-5 typed and double-spaced pages. In addition to the overall quality, depth, grammar, and organization of the paper, the following will, in particular, be assessed: 1. The level of your understanding of the key concepts of the major macroeconomic indicators. 2. Some in-text references to modular background readings (APA formatting encouraged).
You've been hired by an unprofitable firm to determine whether it should shut down its unprofitable operation. Help the management of the firm as to whether or not it should continue to operate at a loss?
Underproduction of Public Goods Suppose point A represents the optimal mix of output-that is, the mix of private and public goods that maximizes society's welfare. Because consumers won't demand purely public goods in the marketplace.
assume that the team has been appointed as speech writers for the speaker of the house. the team must write a speech
part-1suppose that the firm uses three inputs to produce its output capital k labor l and materials m.nbsp the firms
1. recently the obama administration proposed a 1.00 per unit pack excise tax on cigarettes which would be imposed
Lender perceive that you are risky,so you must pay 12 annual percent interest to borrow from them. You only receive only 6 percent on the funds you have deposited in the bank.
analyze the makeup and policies of the european union and determine if all countries have benefited from their
Using concepts used just in Microeconomics(and ignoring any that you might think relevant from Macroeconomics), what does economics have to say about global warming. Is the lesser role for he market and of competition in China.
in each of the following situations determine the direction and size of the change in total output and income that
Select a United States company with global operations. Discuss the company's activities outside the United States and Discuss the impact of globalization
write a 2 page essay on the thesis how much income inequality can be tolerated in the u.s without harming our
Compute an approximation using blocks of 10 wolves and compute an exact value by finding the total area under person 1's demand curve.
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