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(Part A) suppose nominal GDP in 2012 was $100 billion and in 2014 it was $220 billion. The general price index in 2012 was 100, and in 2014 it was 140. Between 2012 and 2014, the real GDP rose by what percent?
(Part B) Use the following scenario to answer questions (Part B1) and (part B2).
In a given year in the United States, the total number of residents is 190 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 27 million, and the number of unemployed is 5 million.
(Part B1) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?
(Part B2) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year?
Suppose that the inflation rate in Oct is 8.1%, the inflation rate in Nov is 2.6%, and the inflation rate in Dec is 8.9%. The Price Index was 100 in September. What is the value of hte price index in December?
Your company is interested in analyzing the behavior of interest rates and the models used to predict interest rates in the future. As an initial project in this area, If the market-clearing price (market equilibrium) of this bond has a return of 20%..
After years of civil war, the Republic of South Sudan must rebuild its infrastructure from scratch. Its government is eager to encourage infrastructure investment by private investors. South Sudan has achieved greater productivity for each unit of ca..
If sales fall by 20 percent from 1,000,000 papers per month to 800,000 papers per month, what happens to the Average Fixed Costs per paper?
Figure 1 above shows a consumer's budget constraint for buying apples and oranges, as well as the indifference curve passing through the utility-maximizing bundle A.
Present the arguments for free trade and the arguments for protection of the US domestic steel industry. Analyze and evaluate the arguments. What policy should we follow in the steel industry and why
If the price of soda is $1 every can, Elucidate how many sodas will the consumer purchase in a typical month.
Elucidate what happen to the prices of oranges and marginal product of orange pickers as a result of a freeze. Can you say what happens to the demand for oranges pickers. Why or why not.
What is the average product of labor, given that the level of labor equals 5, total output equals 500, and the marginal product of labor equals 25?
Based on your knowledge of strategy formation, how do the economic concepts in this course affect strategic planning?
Describe the Harrod-Domar growth model, and explain precisely how the model illustrates dynamic instability. Why is it often called the knife’s edge model? Another question lurks behind nearly all discussions of macroeconomic policy: Why should we be..
The set-up cost per lot is estimated to be $40, and the manufacturing cost has been established at $5.20 per unit. Interest, insurance, taxes, space, and other holding costs are $3.10 per unit per year. Calculate the economic manufacturing quantit..
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