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Expenditures Approach to Calculating GDP
Visit the Bureau of Economic Analysis Web site at www.bea.gov In U.S. Economic Accounts under National click on Gross Domestic Product (GDP), then Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables, click "Begin using the data", and use Section 1 - Tables 1.1.5 and 1.1.6 to identify the GDP (nominal GDP) and real GDP for the past four quarters.
a) Present the information that you received in your project.
b) Write a report, which contains the analysis of the results you received.
In this report consider, but do not be limited to the following:
Why was nominal GDP greater than real GDP in each of those quarters? What was the percentage change in Nominal GDP for the most recent quarter compared to the previous quarter? What was the percentage change in Real GDP for the two quarters?
What accounts for the difference in the two percentages?
Elucidate the effect of this inflow on the rental price of capital in the United States and on the quantity of capital in use.
How to Restore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps offers this plan to help the working poor: apply tax credits for "qualified employers" or hire disadvantaged people for "elig..
After two years the City of Plentiful is faced with a fiscal crisis and decides that it wants its garbage back.
Assume that there are only two inputs (labor and natural resources) producing two goods (movies and gasoline) with no improvement in society's technology over time. Further, assume that natural resources are being rapidly depleted.
A firm, which is the only supplier of a good located in a particular town, is accused of engaging in anticompetitive tactics in order to protect its monopoly position in that town. As part of its defense, the firm has argued that the geographic an..
What is the opportunity cost of investing in capital? Do you think a country can "over invest" in capital?
Assume if you scale up every price and nominal income in the same positive proportion Elucidate why this is true.
what is the major problem in achieving an efficient use of the worlds water if there were a global market in water, like there is in oil, how do u think the market would work would a free world market in water achieve an efficient use.
Discuss how the Federal Reserve kept the United States from sliding into a deeper recession after September 11, 2001.
Illustrate what research did Krueger use to "help win" a rise in the minimum wage in 1996. What did his results show.
Economists classify production functions as possessing constant, decreasing or increasing returns to scale. Yet, from a cause-and-effect point of view, it is not readily apparent why decreasing returns to scale should ever exist. That is, if we du..
A) explain hospital behavior in which the hospital administrators are maximizing their own utility functions by competing on the basis of quality B) explain the contrasting situation in which the doctors on the medical staff
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