In Macronesia the GDP deflator for 2006 is 105 ( with 2005 being the base year). If the real GDP in 2006 equals 210 billion, the nominal GDP in 2006is equal to $200 billion. Not enough information given. $220.5 billion. $ 210
Q: Suppose a consumer's utility function is U(x,y) = min{x, y} For this utility function the optimal ch...
A:
Q: Suppose that a pure monopolist can sell 20 units of output at $10 per unit and 21 units at $9.75 per...
A: Total revenue at 20 units of output = 10*20= 200 Total revenue at 21 units of output = 9.75*21 = 204...
Q: Which of the following statements is correct? Multiple Choice If supply decreases and demand decre...
A: Equilibrium occurs where quantity demanded equals quantity supplied, that is at the intersection of ...
Q: Define Elasticity in your own words and also explain how elasticity can be measured?
A: Introduction and definition of the elasticity is as under:
Q: (a) Complete the table of Vears Year since 2003 Salary (S) 2003 $39,800 2004 2005 2006 2007 (b) Find...
A: Exponential growth "It is a pattern of data that shows greater increase with passing time, creating ...
Q: Amazing Airlines has the following customer metrics: Average customer relationship length: 8 years A...
A: Customer lifetime value is the total value that a customer provides to a particular business over th...
Q: According to the Islam (2000) article "Comparative Advantage and Trade Balance in U.S. Agricultural ...
A: the term comparative advantage means the ability of the producer to produce goods at a lower oppertu...
Q: Define Total Revenue and Marginal Revenue. What is Marginal Revenue equal to for a firm in a competi...
A: Cost refers to the amount of money required to produce the given amount of output by the firm. Costs...
Q: Consider the following payoff matrix, where the first entry in each cell is the row-player's payoff....
A: Introduction In payoff matrix each player choose best strategy so that he can get maximum payoff. It...
Q: 3. When firms are price searchers, why will marginal revenue (MR) be less than price? 4. Is price di...
A: The answer is as follows:-
Q: Explain the reasons why lags in fiscal policy can create statements such as this: “The member of gov...
A: Fiscal policy refers to the one of the types of economic policies, which is implemented by the gover...
Q: 0.41. What would be the effect of a price ceiling of (A) 7150 and (B) 780, in a market with the foll...
A: Given information: Demand equation: Qd=1000-5P ... (1) Supply equation: Qs=5P ...
Q: Be the production function Q (K, L)) = (K} +213), that depends on the quantities Used from inputs Ka...
A: Given production function Q=89K13 +2L133
Q: Derive and extensively discuss the equi-marginal principle.When it is in the two commodity cases? Wh...
A: An equi -marginal principle plays an important role in cardinal utility analysis. The law of equi-ma...
Q: Answer the following questions about country A. a) What was GDP equal? b) What was the value o...
A: Calculation is as follows:
Q: IS curve: r = 30.30-0.0015Y LM curve: =Y - 500(r + n°) SRAS curve: Y = Y + 100(P – P°) The nominal m...
A: The IS-LM model describes how aggregate markets for real goods and financial markets interact to bal...
Q: For each scenario below, explain how it will impact efficient turnover: (a) Universal healthcare is ...
A: Note:- Since you have put a multi-part question, we are providing you with the solutions to the firs...
Q: When Alonzo had 3 years left in college, he took out a student loan for $13,564. The loan has an ann...
A: Interest is generally expressed as a percentage and may be simple or compounded.Simple interest is c...
Q: (a) Explain the meaning of velocity of money (b) Suppose the money supply M has been growing at 10% ...
A: The way through which transactions could take place in the market and are being considered as the me...
Q: The Solow model with population growth predicts that a. total income and total capital grow at the ...
A: The Solow growth model is the economic way to express the nature of the economic variable, which con...
Q: Central bank wants to reduce the money supply. Choose all policies from below that can achieve the r...
A: By diminishing how much money is in the economy, the central bank lowers private consumption down. D...
Q: The LM curve is upward sloping since interest rate increase leads to output increase. TRUE or FALSE....
A: The liquid preference-Money supply curve shows the point at which the money supply and money demand ...
Q: Find the marginal revenue curve under monopoly market. 1. When the demand curve is P = -5Q + 25, the...
A: Given: P=-5Q+25
Q: e the following graph for a competitive market to answer the question below. The horizontal axis lis...
A: A price floor to be binding always set below the equilbirum price. The equilibrium price is where De...
Q: Consider a ypothetical closed economy in which the marginal propensity to consume (MPC) is 0.8 and t...
A: Here, the marginal propensity to consume of the people of a closed economy is given as 0.8, and the ...
Q: 1.Discuss how the factors of production lead to economic growth. Be sure to provide an example that ...
A: Economic growth is defined as the process by which the economy's final goods and services rise. An i...
Q: In Islandia, all goods and inputs are bought and sold at chere is a single price for each product. I...
A: Mix of goods means both factor market and goods market are in equilibrium simultaneously. As per giv...
Q: Year BTCF (Marginal cost) 1 %24
A: Substitution/Replacement includes eliminating liquefiable material from the site and supplanting it ...
Q: In a perfectly competitive market, the price of the good or service is determined by O the individua...
A: In a competitive equilibrium each buyer or seller have very less part of the entire market. So, they...
Q: onsider the following short-run production function, where bor (L) is the variable input and capital...
A: Given Q(L) =(6L2 −0.4L3) We need to calculate maximum value of labor (L),
Q: According to Max Weber,a. early Protestantism provided a social environmentconducive to capitalism.b...
A: The answer is - b. capitalism developed because of Protestantism.
Q: Googol and Visagetext are two social media platforms. When Googol was launched, many reviewers claim...
A: Competition to dominates the market Even if the two market leaders have bene able to operate in the ...
Q: All Numbers are in S Billion Output Consumption Income Spending Net Taxes 100 Investment Government ...
A: In an economy, unplanned inventory refers to the amount of output gap between the actual output and ...
Q: Question 3 The US and France each have 100 hours of Jabor to allocate between producing cheese and b...
A: Opportunity cost can be defined as the benefit that has been forgone of the next best alternative op...
Q: describe b2b(business to business) in healthcare and provide examples
A: B2B is a technique in which two businesses comes in contact with each other in order to make commerc...
Q: passage Drag word(s) below to fill in the blank(s) in the passage. Improving enables a country to ha...
A: The term human capital refers to the economic value of a worker's experience and skills. Human capit...
Q: difference between income and wealth, and why both are important in terms of economic security for o...
A: income refers to the amount of money received by a individual person , group or company during a c...
Q: An investor bought stock for $40,000. Fourteen years later, the stock was sold for $50,000. If inter...
A: The inflation rate that is measured by taking into account inflation is referred to as the nominal i...
Q: 2. May purchased a new mobile phone and paid ₱10,000. This means that her marginal utility from this...
A: In a market, marginal utility refers to the amount of satisfaction gained by a consumer when he cons...
Q: a change in business investment a determinant of aggregate demand or aggregate supply? What happens ...
A: The entire amount of money or sales profits that the seller expects to receive from the sale of prod...
Q: In the above figure, the left hand side graph represents a perfectly competitive industry and the gr...
A: Perfect competition is an ideal type of market structure where all producers and consumers have full...
Q: Fill in the blanks using the number that corresponds to the corect word or phrase in the word bank 1...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...
Q: Ch. 5 Questions: 1.What is the Fisher Effect and why is it important?,
A: Fisher Effect essentially explains the connection between inflation,real financing cost and nominal ...
Q: Problem 4: A cutting-edge product of Continental Fan had the following net cash flow series during i...
A: The internal rate of return (IRR) calculates the time value of money. When you calculate the rate o...
Q: Which of the following statements is false? Quantity discounts is the same as second-degree price d...
A: Price discrimination means charging different price for the same good . There are three degree of pr...
Q: A monopolist has a total cost function of TC(Q) = 1200 + 0.5Q² , with associated marginal cost of MC...
A: P = 300 - QTR = P*Q = 300Q - Q^2MR = d(TR)/dQ = 300 - 2QMC = Q
Q: ee is $4. 1. The money supply per person is $2000. What is the value of the nominal interest rate? W...
A: Calculation interest rate of equilibrium:- Formula is :- TC = (I*Y/2N) + F*N Here, Total Cost = F*i ...
Q: What is Marginal Revenue equal to for a firm in a competitive market?
A: The revenue that results when there is an increase in revenue from the sale of one additional output...
Q: Questions: A) Detail and describe a decision that you made in the past that contradicts the assumpti...
A: Consumers try to maximize their utility in order to get maximum satisfaction, consumers, in general,...
Q: Price 38 Supply 34 28 22 16 Demand 10 6 4 5 10 20 30 50 60 70 80 90 Quantity 40 2.
A: When the world price is less than the equilibrium price, then the domestic demand will be higher tha...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- In 2016, country A faced unfavorable weather conditions. Wheat production decreased to 450kg. Wheat-growers continued to sell 100kg to consumers, but could only sell 350kg to flour mills. To maintain production, flour mills imported 50kg of wheat from abroad, and maintained their production and sales unchanged. Prices did not move between 2015 and 2016. What is the GDP for 2016?Calculate GDP for a country with investment of $2 trillion, government purchases of $3 trillion, capital depreciation of $1.5 trillion, consumption of $10 trillion, exports of $3.4 trillion, and imports of $3.9 trillion.2011 (base Year) 2011 2012 2012 2013 2013 P Q P Q P Q Good A $30 900 $31 1000 $36 1050 Good B $100 192 $102 200 $100 205 to calculate Nominal GDP in 2012 and 2013. What is the growth of such nominal GDP from 2011 to 2012, and from 2012 to 2013. Do the same for the real GDP. Which has grown more, nominal GDP or real GDP? What does this imply?
- Country A has export sales of $20 billion, government purchases of $1,000 billion, business investment is $50 billion, imports are $40 billion, and consumption spending is $2,000 billion. What is the dollar value of GDP?Product Pumpkin Pies Technical Manuals Product Pumpkin Pies Technical Manuals In Year 2, nominal GDP is equal to: $ and Prices in Year 1 (Base year) Quantity 110 550 Production and Prices in Year 2 Quantity 137.50 825.00 Price Per Unit and real GDP is $ $3.00 $30.00 Price Per Unit $4.50 $60.00 (enter both responses rounded to the nearest penny).GDP in Singapore (2019) is equal to 507.568 billion Singapore Dollars. What is the value of Singapore’s GDP in US Dollars if with 1 USD, you can buy 1.37 SGD?
- The GNP of a country is $200 billion, receipts of factor income from the rest of the world are $10 billion, payments of factor income to the rest of the world are $30 billion, and depreciation is $25 billion. What is the GDP and the Net National Product?Nominal GDP for this simple economy in year 1 equalsIf Gdp deflator is equal at 90 it means that : 1- stagflation 2- deflation 3- inflation 4- stability
- Gross Domestic Product If nominal GDP in 1975 was $1699.9 billion and the GDP deflator (price index) was 100, what is the value of real GDP in 1975?A simple economy produces two goods, Pumpkin Pies and Computer Games. Price and quantity data are as follows: Production and Prices in Year 1 (Base year) Product Quantity Price Per Unit Pumpkin Pies Computer Games 125 $1.00 750 $40.00 Production and Prices in Year 2 Product Quantity Price Per Unit Pumpkin Pies Computer Games 156.25 $1.50 1,125.00 $80.00 In Year 2, nominal GDP is equal to: $ and real GDP is $ (enter both responses rounded to the nearest penny).In Country X ( population of 100 million), the GDP per capita for the year 2022 was $10,000, and the GDP deflator for the same year was 120. The government revenue amounted to $2.5 billion, with government spending totaling $3 billion. Considering these values, calculate: a) The nominal GDP of Country X for the year 2022. b) The real GDP of Country X for the year 2022. c) The government budget balance for the year 2022. d) If the government decides to implement a policy to reduce carbon emissions, leading to increased spending of $150 million on renewable energy projects, how would this affect the government budget balance?
