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Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"?
The BEA made the switch from the constant-dollar method to the chained-dollar method, because the latter has enhanced the accuracy of the GDP growth calculations by yielding one unique estimated growth rate among any two years. With the constant-dollar method, the growth estimate depends on which year is used as the base year.
If there is an industry and some of the companies get shut down, how would you graph the short run and long run effects
Explain the first-order condition of sufficiency of consumer. Sufficiency of Consumer’s First-Order Conditions This first-order condition is merely essential conditions for
Business sell to households in the resource markets, but households sell to businesses in the product market
Q. What is Heterodox Economics? Heterodox Economics:Different schools of thought (including post-Keynesian, Marxian, structuralist and institutionalist economics) which reject
What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)? The simplifying assumptions are: 1) The household and i
Real and nominal GDP, GNP, and Intrest rates, Stock & flow variables, Disinflation, Inflation rates, unemployement rates, labor force, participation rate, output per person, GDP d
Describe what the price elasticity of demand is and why it is of interest in examining markets. Might it be beneficial in the airline industry? Why?
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
discuss ho capacity utilization and product differentiation affect internal rivalry and entry barriers with the analytical framework of the porter five forces model. use the econom
a monopolist faces a demand curve Qd- 120-2p and has costs given by C(Q)=20Q+100 (marginal cost is constant at $20) a. What is the optimal Price and Quantity for this monopolist?
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