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If in some country personal consumption expenditures in a specific year are $50 billion, purchases of stocks and bonds are $30 billion, net exports are $-10 billion, government purchases are $20 billion, sales of second-hand items are $8 billion, and gross investment on $25 billion, what is the country's GDP for that year?
Joe has preferences over pizza (p) and beer (b) given by U = pb. The marginal utilities are MU p = b and MU b = p, and Joe's income is I = 60. 1. Find Joe's optimal consumptio
The structural deficit: A. falls as the economy expands and rises when it contracts. B. changes as actual income changes regardless of potential income. C. does not change when inc
Trade and Economic Growth: For a long time, academic debate on trade liberalization and its positive effects on growth rate remained inconclusive and unsettled. But most recen
Raising chickens requires several types of feed, such as corn and soy meal. Consider a farm in the former Soviet Union. Try to describe how decisions on the number of chickens to b
Sears rates its salespersons according to their sales ability and their potential for advancement. They sampled 500 salespeople with following data: Potential for Advancement Fair
Determine on any market the effect of the following. Do each separately (on a separate graph) starting from an initial equilibrium position for each one. 1. increase in income
Consider an economy that produces only three types of fruit: apples, oranges & bananas. In the base year the production & price data are as follows: Fruit
Some manufacturing and agricultural products produced in the Midwest are exported to overseas markets. US consumers and businesses also purchase many products produced outside the
P2 and P3 play with a penny. P1 picks between same (S) and different (D). After observing P1's choice, P2 and P3 get to picked Simultaneously independently either head (H) and tail
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