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1. (GDP and Depreciation) What is gross about gross domestic product? Could an economy enjoy a constant-or growing-GDP while not replacing worn-out capital?
2. (Consumer Price Index) One form of the CPI that has been advocated by lobbying groups is a "CPI for the elderly." The Bureau of Labor Statistics currently produces onlyindexes for "all urban households" and "urban wage earners and clerical workers." Should the BLS produce such an index for the elderly?
As prices increase, should health economists advocate giving something up (opportunity costs/trade-offs)? As the quantity of health services provided goes up, does the benefit of each additional unit of service become smaller (marginal analysis)?
Analyze the impact of an increase in the minimum wage from the current level to $15 per hours. How would the following be affected? employment of people previously earning less than $15 per hour
Where Y is real GDP, Ap is the amount of autonomous planned spending that is independent of the interest rate, Ms is the nominal supply, P is the price level, and W is the nominal wage rate. Assume that Ap equals 5,000, Ms equals 2,000, W equal..
Compare and Contrast an import quota and a tariff-rate quota (TRQ) in terms of how each one will impact exports, imports, prices, production, consumption and world trade using a THREE PANEL DIAGRAM.
Suppose demand is given by Qd(p)=99-2p, and supply is given by Qs(p)=p. Find the free market equilibrium price and quantity. Now consider government imposes a $3 quantity tax on transaction. Find the new market equilibrium prices and quantity. Comput..
The supply curve for productXis given byQXS= -340 + 10PX . a. Find the inverse supply curve. P =+Q
Explain the concept of income consumption curve
Assignment 4: The U.S. Cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Under proposed settlement, cigarette companies will make fixed annual payments to government based on their historic..
Would you be indifferent between the plans?
Explain what happens to price and quantity of milk when the following events occur (you do not need to analyze the event itself but rather determine the effect of the event on supply and demand of milk):
ECON 301 Intermediate Microeconomics Assuming diminishing marginal utility and an indifference curve with Apples on the X axis and Cheese on the Y axis, fully explain how the slope of the indifference curve measures the relative value of the goods ..
What are the major factors that determine investment and what impact does each have on aggregate demand?
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