What was eurasia gdp in 2003

Assignment Help Macroeconomics
Reference no: EM131270451

In the small country of Eurasia people do salmon fishing, they produce canoes and also grow corn. In 2003 they produced 5000 canoes using labour and natural materials only, but sold only 4000, as the economy entered a recession. The cost of producing each canoe was $1000, but the ones that sold were priced at $1250. They fished $30 million worth of salmon. They used $3 million of the salmon as fertilizer for corn. They grew and ate $55 million of corn. What was Eurasia's GDP in 2003? Explain your methodology

Reference no: EM131270451

Questions Cloud

Keynesians and monetarists concerning level of government : (Part A) Evaluate the fundamental arguments between Keynesians and Monetarists concerning the level of government involvement in our economy to minimize the impact and stabilize the different stages of the business cycle.
Market demand for monopolist product : In this question we will use the above data to compare a single price monopolist to the same monopolist that is regulated either with average cost regulation or marginal cost regulation. At the end of the question you will fill out a table to comp..
Battle for market share in the automobile industry : The following quotation appeared in a Wall Street Journal article on the battle for market share in the automobile industry in 2000: "The huge fixed costs involved in developing new vehicles and running big auto factories means auto makers feel co..
Complete a truth table for the three-input majority gate : A majority gate produces a TRUE output if and only if more than half of its inputs are TRUE. Complete a truth table for the three-input majority gate shown in Figure 1.41.
What was eurasia gdp in 2003 : They used $3 million of the salmon as fertilizer for corn. They grew and ate $55 million of corn. What was Eurasia's GDP in 2003? Explain your methodology
Rights for individuals employed by intelligence agencies : Explain the free speech rights of employees like Edward Snowden. Are there any limitations on these rights for individuals employed by intelligence agencies?
Explain what is meant by a pesticide treadmill : Consider what you have learned about natural selection and mutation concerning health issues like TB and head lice, and apply it to pesticide use and farming. Explain what is meant by a "pesticide treadmill' and why it is a concern to farmers and ..
Leading indicators for industry or firm : Discuss a scenario in which the use of leading indicators for your industry or firm (or an industry or firm of your choosing, could be fictitious or general) might improve performance and promote better decision making.
How these reasons contribute to the projects success : Failure to document the lessons learned on a project forces us to repeat the same mistakes again. Describe at least three reasons that a PM team should hold a Lessons Learned or After Action Review for every project, and how these reasons contribute ..

Reviews

Write a Review

Macroeconomics Questions & Answers

  Starbucks’s marketing department

If Starbucks’s marketing department estimates the income elasticity of demand for its coffee to be 2.95, how will the prospect of an economic bust (expected to decrease consumers’ incomes by 3 percent over the next year) impact the quantity of coffee..

  What would the cash flow diagram look like

If an alternative has monthly payments of $10,000 a month for three years with a purchase price of $75,000 at the end of year three, what would the cash flow diagram look like. what would the cash flow diagram look like

  What are the opportunity costs of the decisions

Gourmet coffee houses tend to open in high-rent areas and cater to higher income consumers. Because of the change they created for taste and preferences and the higher income market, the gourmet coffee houses had a win-win in a period of falling w..

  Assume the us government determines that cigarette smoking

Assume the U.S. government determines that cigarette smoking creates social costs not reflected in the current price of cigarettes in the market

  Anti-smoking behavioral intervention

If the cost effectiveness of an anti-smoking behavioral intervention targeting youth is $100,000 per QALY (i.e. expensive to implement for the healthy years gained) why do you think that funding this program would still be considered feasible from..

  Discuss informing the consumer

Discuss whether informing the consumer about any toxic substances used in the manufacture of a product is sufficient to produce an efficient level of toxic substance use in that product.

  Calculate price-quantity and deadweight loss

Dana's Doorsteps (DD) is a monopolist in the doorstep industry. Its cost is C= 10Q and demand is P = 30- Q.

  Research of siem products

Write a 3 page summary of your research of SIEM  products. At a minimum, your summary must include the following: An introduction or overview for the security technology category (SIEM). A review of the features, capabilities, and deficiencies for yo..

  What tool of monetary policy will the federal reserve use

What tool of monetary policy will the Federal Reserve use to increase the federal funds rate from 1% to 1.25%? In the short run, a trade deficit allows more consumption, but in the long run, a trade deficit is a problem because.

  What is the inflation rate in 2001

Sarah buys a house in 1999. She obtains a mortgage that carries an annual interest rate of 12 per cent, and makes payments of $880 per month. The CPI in 1999 is 100, in 2000 it is 110, and in 2001 it is 120. What is the inflation rate in 2001?

  What is the liquidity premium on the four-year treasury

The Wall Street Journal reports that the rate on three-year Treasury securities is 5.25 percent and the rate on four-year Treasury securities is 5.50 percent. The one-year interest rate expected in three years

  Illustrate what the government should do about it

Illustrate what the government should do about it, how would each economist explain unemployment and what policies would each advocate.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd