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National income and product data are generally revised. What effects would the following revisions have on consumption,investment, government purchases, net exports and GDP?
a) It is discovered that consumers bought $6 billion more furniturethan previously thought. This furniture was manufactured in NorthCarolina.
b) It t is discovered that consumers bought $6 billion morefurniture than previously thought. This furniture was manufacturedin Sweden.
Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free trade. b.) Now suppose that a tariff is place on the importation of wine into the United States to protec..
A recent newspaper circular advertised the following special on tires: Buy three, get the fourth tire for free-limit one free tire per customer. If a consumer has $500 to spend on tires and other goods and each tire usually sells for $50 how does ..
Describe some healthcare situations in which an agent has taken advantage of a principal. Now describe some healthcare transactions that have not taken place because of fears about asymmetric information. What are some strategies for reducing adve..
Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency. 15) The fact that U.S. managers' salaries are substantially greater than tho..
While sitting in your office one evening, you start to think about some of the key microeconomic messages you wish to communicate to the Board.
Write down the differences between absorption and variable costing techniques on income statement presentation.
The basic purpose of imposing legal reserve requirements on commercial banks is to: Assure the liquidity of commercial banks Provide a device through which the credit-creating activities of banks can be controlled Provide a proper ratio.
"GDP and GNP"
If the United States gave Pakistan $1 billion for environmental clean-up of its water system, but a large portion of the money was diverted to be used for purchasing weapons,what would this be an example of in economic terms
Describe how this change affects output both immediately and over time. Is the steady state effect on output larger or smaller than the immediate effect?
Determine GDP,NDP,GNP,NNP,NI,PI,DI,S. Comment on savings magnitude that you have determined.
Discuss how does the existence of money decrease the expenses of making transactions, relative to a society based entirely on barter?
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