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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.
Two firms, A and B, are planning to bid for a contract of Motorway extension in Mauritius. Suppose: (1) firm B is a newly established company and has already incurred a st
Determine the Cross Elasticity of Demand Measures the responsiveness of demand for good A to a given change in the price of good B. It is an significant piece of information to
Monopoly is that form of market where there is only one firm producing a particular product. Being the sole supplier, the monopoly firm has the power to control prices and output t
Q. What is Benefits transfer? The process of transferring benefit estimates from past valuation studies to the present study, in order to reduce appraisal costs. The validity
1. Suppose the banking system has reserve of $750000, demand deposits of $2500000 and a reserve requirement of 20%. a. if the fed now purchases $125,000 worth of govt bonds from t
When should a firm shut down production in the short run?
If demand goes down what happens to the equilibrium?
cobb douglas production function?
Employee Communication More widely called internal communications, employee communication is must in retaining a happy and productive workforce. Internal communications to e
Neutrality: Bureaucracy is apolitical and neutral. Prof. Frocderich mentions the following features of bureaucracy: (i) differentiation of functions, (ii) qualifications for o
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