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1. (a) Suppose the real GDP was $13.1 trillion in 2013 and $13.1 in 2014, what is the growth rate?
(b) How many years would it take for GDP (gross domestic product) to double using your answer from (a.)?
2. What are the sources of human capital? Discuss some specific examples.
3. What is the law of diminishing returns? Give an example of what law of diminishing returns implies.
4. What happens when the government raises taxes and uses revenue to engage in spending?
A reporter contacts you to comment on a report that manufactureres of widgets are colluding. You study the widget market and estimate that the elasticity of demand at the market price is about -0.5. What do you tell the reporter about the collusion?
Draw the daily budget constraint without any program participation for the single parent described above. On the same graph, draw the daily budget constraint under TANF for the single parent described above. At what level of money income does the ..
The value of a home depends on how attractive other homes and yards in the area are. How do local zoning ordinances try to promote land uses that generate external benefits for neighbors?
What is each country's opportunity cost of producing gloves and hats and if the countries could, should they trade? Provide one (1) supporting fact to support your position.
two types of consumers workers and retirees share a community with a polluting cheese factory. the pollution is
Suppose the following data about the demand for goods and services. All variables are in billions of dollars. Suppose that potential level of output is $12,000 billion. Use the above data to calculate the size of the output gap?
The demand and marginal revenue curves faced by a firm in a purely competitive market. they different from those faced by a firm in oligopolistic competition.
Helen is buying a 12,375 car with a 3000 down payment, followed by 36 monthly payments of 325 each. The down payment is paid immediately, and the monthly payments are due at the end of each month.
analysis on the effect of world recession on uae economy1000 words overall word count for specific sections are in the
How many bushels of corn are purchased by consumers and at what price? How many bushels of corn are purchased by the government and at what price? How much does the program cost the government? How much revenue do corn farmers receive.
How do the economies of the countries you selected compare to the U.S. and is either of the selected countries still in an agrarian phase of economic development? An industrial phase? Explain.
Say if the following statement is true or false and why-Exports depend only on the demand of foreign countries for our products and therefore our exporting
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