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1. In what ways are national income statistics useful?
2. Explain why an economy's output, in essence, is also its income.
3. Why are changes in inventories included as part of invest- ment spending? Suppose inventories declined by $1 billion during 2008. How would this affect the size of gross private domestic investment and gross domestic product in 2008?
4. Why are changes in inventories included as part of invest- ment spending? Suppose inventories declined by $1 billion during 2008. How would this affect the size of gross private domestic investment and gross domestic product in 2008? Explain.
5. . What factors make it difficult to determine the unemploy- ment rate? Why is it difficult to distinguish between frictional, structural, and cyclical unemployment? Why is unemploy- ment an economic problem? What are the consequences of a negative GDP gap? What are the noneconomic effects of unemployment?
6. explain public debt.
assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision
In Kessy's old kitchen, he could bake 10 cookies or mix 15 glasses of lemonade in one day. Now Kessy has a larger oven and refrigerator. How does this impact his production possibility frontier A) It increases his production possibility frontier. B..
As long as there are barriers to entry, a monopoly can always find some price-output combination that generates positive economic profits. As long as the demand curve slopes down, a monopoly can always find some price-output combination that genera..
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What is the effective rate of tariff protection (ERTP) for the U.S. shoe industry now and what is the U.S. shoe industry's value added for each pair of shoes?
a key economic adviser to president george w. bush said yesterday he believed that national saving was too low in the
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