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Suppose an economy’s real GDP is $52,000 in year 1 and $54,200 in year 2. What is the growth rate of its real GDP? Instructions: Round your answer to two decimal places. The growth rate of the economy's real GDP = % Assume that population is 100 in year 1 and 102 in year 2. What is the growth rate of real GDP per capita? Instructions: Round your answer to two decimal places. The growth rate of the economy's real GDP per capita = %
What evidence have you discovered that points to the Classical, Keynesian, and Monetarist theories being debated today? What is supply-side economics? Does it oppose the Classical, Keynesian, or Monetarist theory? How does supply-side economics affec..
The risk premium it charges on its loans is classified as profits in economics.
why Marx calls it an ‘absurd tautology' that value of labour is determined by that labour. How can a tautology be absurd.
The financial manager at Genesis Co is looking into the purchase of an apartment complex for $150,000. Net after-tax cash flows are expected to be $60,000 for each of the next 2 years, then drop to $50,000 for two year. Genesis Co. expects to sell th..
Show whether or not the above production function exhibits diminishing marginal productivity of labor. Determine the nature of the Return to Scale as exhibited by the above production function.
"Anyone who tells you that markets left to their own devices always lead to socially beneficial outcomes is talking utter nonsense." Do you agree with this statement? Defend your position.
An increase in the supply of money will lead to a(n) ____ in equilibrium real GDP and a(n) _____ in equilibrium price level. To close an inflationary gap using monetary policy, the Federal Reserve should _____ the money supply to _____ investment and..
Does convergence property imply that a measure of dispersion of income per person across the economies will narrow over time? Absolute convergence held for US sates from 1880 to 2000. A measure of the dispersion of per capita income across the states..
Consider three alternative ways of helping poor people get housing: government-subsidized housing costing $6,000 per year, a housing voucher worth $6,000 per year toward rent on an apartment or a house, or $6,000 per year in cash. Which would you pre..
One key assumption lying behind the policy irrelevance proposition is that
Which of the following statements about indifference curves is true
What are the key contributions of small business to the U.S. economy? Rank the benefits in terms of importance, and provide the reasons for your ranking.
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