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When final sales are larger than GDP,a. inventories did not changeb. a net increase in inventories took placec. a net decrease in inventories took placed. the direction of any net change in inventories is uncertain
The total value added in the production of a final gooda. exceeds the price of the final goodb. equals the price of the final goodc. exceeds the total payments made to owners of productive resources used in the productiond. both (b) and (c)
Discharges of chemicals from a paper plant that pollute a nearby river represent an example ofa. internal costsb. the underground economyc. social costsd. transfer costs
An increase in the price level adds to the value of the nominal GDP but not to the real GDP.TrueFalse
The GDP excludes the production of services for which no monetary transaction takes place.TrueFalse
q.suppose there are 2 economies. in each economy there are 2 outputs bacon and eggs which are produced with perfectly
Take into account the due dates. Prevent plagio. Late assignments have a penalty of two points. Submit assignments as attachment for easier correction.
Suppose you have estimated the consumption function as C=250=0.90Yd where Yd is disposable income. what is the corrosponding saving function?
Calculate the loss of economic welfare caused by the monopolistic . If some of this lost welfare would have been producer surplus, why is the monopolist willing to forgot this surplus?
According to national income accounts, investment always equals savings in a closed economy. only in equlibrium would savings be equal to investment. hence, we are always in equlibrium. true or false.
Government purchases rise to 1440. How does this increase change the equation describing desired national saving? Show the change graphically. Illustrate what happens to the market-clearing real interest rate.
To determine the cost of using these people in the army what information do you need.
A persone has a choice between an apple or an orange. the persone chooses the apple. Elucidate what is the opportunity cost of choosing the apple.
Wicksteed made a significant contribution to value theory during the marginal utility revolution. This contribution was the "Exhaustion of the product"
For each values for the MPC, determine the size of the simple spending multiplier and the total change in real GDP demanded following a $10 billion decrease.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
If average worker produces $70,000 of GDP, by how much will GDP increase if re are 140 million labour force participants and unemployment rate drops from 5.2 to 4.5 percent.
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