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Assuming an economy with no government and no foreign trade. Measure GDP for the following output scenario:
There are three firms: firm A is a minning company, firm B is a steel producer and firm C is a car manufacturer.
In a specific year firm a sells Rs. 100 million worth of iron ore to firm B, firm B sells Rs. 200 million worth of steel to firm C and firm C sells Rs. 500 million worth of cars to general public.
If there are no alters in inventories, no taxes and no other producers in the economy, what is GDP?
A mechanical engineer who is anticipating paying for his daughter's college education plans to start depositing money now (year 0) and continue through year 17. If he deposits $ 50
Changes in demand-Baby diapers and retirement villagesOther things equal, an increase in the number of buyers for a product or service will increase -demand. Baby diapers and retir
Suppose the inverse demand curve for a market is equal to p = 100 -- 0.3Q. The inverse market supply curve is p = 20 + 0.5Q. 1. Calculate the equilibrium price and quantity;
Suppose a consumer's income increases from $30,000 to $36,000. As a result, the consumer increases her purchases of compact disks (CDs) from 25 CDs to 30 CDs. What is the consumer'
The director of admissions at Kinuza University in Nova Scotia estimated the distribution of student admissions for the fall semester on the basis of past experience. What is the e
Can you think of examples where the government does not intervene enough when it comes to consumer safety and product information? Examples where too much intervention is the case
If the U.S. government were willing to convert dollars into gold at a fixed price, then dollars would be a. fiat money. b. commodity money. c. bank money. d. both fiat and
Calculate the present value P at time zero and the corresponding future value F at the end of year three for a series of $15,000 payments to be made at the end of each of years one
Suppose there is a simultaneous increase in the demand for diamonds and increase in the supply of diamonds. Which of the following will occur as a result of these simultaneous even
Frovea's currency is called the fromark, and Olympia's currency is called the olymark. In the market in which fromarks and olymarks are traded for each other, the supply of and dem
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