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Last year, a small nation with abundant forests cut down $200 worth of trees. $100 worth of trees were then turned into $150 worth of lumber. $100 worth of that lumber was used to produce $250 worth of bookshelves. Assuming the country produces no other outputs, and there are no other inputs used in the production of trees, lumber, and bookshelves, what is this nation's GDP? In other words, what is the value of the final goods produced including trees, lumber and bookshelves?
Hinduism, Confucianism and Buddhism are three of the world’s great belief systems. Compare and contrast their impact on the societies that embraced them.
An entrepreneur plans to convert a building she owns into a video-game arcade. Her main decision is how many games to purchase for the arcade.
What measures the fed should take to decrease the unemployment value and expand the economy. Remember that the answer has to deal with monetary policy,
A recent national survey found that high school students watched an average (mean) of 7.2 DVDs per month with a population standard deviation of .90. A random sample of 35 college students revealed that the mean number of DVDs watched last month w..
In a monopolistically competitive marketplace, a firm has market power because it produces a differentiated product. This means that the firm earns positive economic profit in the long run.
List and explain the sources of expenditures in economy by focusing on the 4 major sectors of economy.
a consumer product company is considering introducing a new shaving system called delta-4 in the market. the company
In your professional, provide an example of supply and demand and how a shift in either caused a significant change in price or the quantity demanded.
You have the following information concerning the production of wheat and cloth in the United States and the United Kingdom:
Assume that the pure expectations theory for the term structure of interest rates holds, no liquidity or maturity premium exists, and the bonds are equally risky.
In 2008, box industry was perfectly competitive. The lowest point on long run average cost curve of each of the identical box producers was $4,
The biggest decision that Janet Yellen has faced in her year-old Federal Reserve chairmanship was laid bare in a single report on the domestic job market released Friday.The unemployment rate fell to 5.5 percent as job creation continued at a strong ..
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