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Assignment
1. Which of the following are included in GDP and which are not? If an item is included, state which GDP category it falls under (consumption, investment, government, trade balance)
a) the cost of having your appendix removedb) buying a new car from a dealershipc) buying a used car from your neighbord) the lettuce sold to the sub shop that will go on your sandwiche) babysitting services at a licensed day care providerf) babysitting services provided by your cousing) a 2 year increase in life expectancy
2. The nation of Econoland had a Nominal GDP of $1,200,000 in 2005 with a price index of 1.1. The same nation had a Nominal GDP of $2,000,000 in 2006 with a price index of 1.9.
a) What is the Real GDP for Econoland in 2005 and in 2006?b) Explain how it's possible that Nominal GDP can rise while Real GDP can fall.
To what extent do you think the demand side policies to achieve full employment might conflict with the BOP and environmental concerns?
A recent newspaper circular advertised the following special on tires: Buy three, get the fourth tire for free-limit one free tire per customer. If a consumer has $500 to spend on tires and other goods and each tire usually sells for $50
After 25 years, the level of GDP in the second country is more than 25% larger than that of the first country. Why? And what does this show of the importance of small differences in the rate of growth?
Taxes greatly influence U.S. economy. Because of this influence, it is good to know the effects they have in the economy and on a personal level. Complete the following to gain a better idea of the various types of taxes, their influences, and how th..
1) Please explain how the Constitution provides for a system of separation of powers and checks and balances.
Suppose if the economy currently has a frictional unemployment rate of 2%, structural unemployment of 2%, seasonal unemployment of 0.5%, and cyclical unemployment of 2%, determine the natural rate of unemployment?
Question 1 What does GDP measure? Question 2 Which of the following applies to measurement of PPP GDP per capita in poor countries?
Illustrate what is your opinion and brief description about the microsoft anti trust case. Need your opinion about the outcomeand if the solution was fair
suppose a consumer derives utility from consuming two goods x1 and x2. her utility function is given as u x1 y1 8
Suppose China exports TVs and uses the yeah as its currency, whereas Russia exports vodka and uses the ruble. China has a stable money supply and slow, steady technological progress in TV production, while Russia has very rapid growth in the money..
Describe unemployment trends based on unemployment rates. Define unemployment and describe the typical types of unemployment in an economy.
If Congress put a quota on foreign video games, then - If Congress removes all tariffs on Chinese products in response to a new free trade agreement with China, then.
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