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1. What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008?
2. What was national income (NI) for 2008? What does national income tell us? What is the difference between GDP and NI? How has NI changed since 2008? What caused these changes?
3. What was disposable income (DI) for 2009? What does disposable income consist of? How did DI change from 2008? What caused these changes?
4. Does GDP measure the well-being of society? Why or why not?
5. What was GDP in 2008 (sometimes called GSP) for your state? How does your state rate when compared to other states?
Elucidate how do the ratios Px*X/I also Py*Y/I change as income increases in this problem.
A country has national saving of $80 billion, government expenditures of $40 billion, domestic investment of $60 billion, and net capital outflow of $20 billion. What is its demand for loanable funds?
Illustrate what is the maximum amount your firm should be willing to spend on lobbying efforts to prevent the cost from being regulated at the socially optimal level.
The demand for milk is more elastic than the demand for water. Suppose the government levies an equivalent tax on milk and water. W hy he deadweight loss would be larger in the market for which item.
Construct a market basket using a graph. calculate the price index based on the basket. Decide quantity and estimate current prices for each product.
Describe pressures that currency would face due to increasing oil prices. Will this response by central bank increase or decrease foreign reserves.
What is player 2's maximin strategy? If the game were played with Player 1 moving first and player 2 moving second, using the backward induction method, what strategy will each player choose?
Find the total quantity produced also every firm's profit in equilibrium. Express Illustrate what happens to these when Firm 1 changes its technology as above.
Can you find a Nash equilibrium in pure strategies that is not efficient. Find the sub game perfect equilibrium as a function.
What government policies are available to reduce domestic demand in the medium run. Identify which components of domestic demand each of these policies affect.
What would be additional revenue per hour obtained if company managed to have 10 doctors overseas on duty at any given time. What would be additional profit if company managed to have 10 doctors overseas on duty at any given time.
Which of the following institutional arrangements is most likely to promote growth.
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