The country of Old Jersey produces milk an gallons and prices are dollars per gallon. Year 2 Good Quantity Price Quastity 900 3000 Year 1 500 2000 Price 243 52 Milk $2 Butter 51 Between Year 1 and Year 2. nominal GDP o Select one O a 833% Ob 190.0% O G 60.0% O d.65.5%
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- Explain what economists mean by menu costs.Table 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes, measured in millions of dollars, at various interest rates. What is the equilibrium interest rate and quantity in the capital financial market? How can you tell? Now, imagine that because of a shift in the perceptions of foreign investors, the supply curve shifts so that there will be 10 million less supplied at every interest rate. Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest tale shift makes intuitive sense.Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?
- AABI AaBbCc AaBbC AaßbCcDc AaBbCcDc úlgaell 2 ülgis 1 ülgas blaí 1 T 3 4 5 6 Production Year 1 Year 2 Good X 50 Prices Year 3 Year 1 Year 2 Year 3 60 $1.20 $1.00 $0.60 $1.20 $0.60 50 Good Y 100 120 140 $1.00 1-Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 1 is 2-Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is 3-Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 2 is 4-Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's real GDP in year 2 is 5-Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is 6-Assume that this economy produces only two goods Good Xand Good Y. If year 1 is the base year, the value for this…Prepare a graph of the monthly forecasts and average forecast demand for Garden Room Furniture Ltd., a manufac-turer of outdoor furniture. MONTH PRODUCTION DAYS DEMAND FORECASTJanuary 16 300February 16 300March 23 500April 21 500May 22 800June 22 1000July 21 1200August 20 1500September 20 900October 20 500November 16 300December 16 300J D The following table contains information about an economy that produces only soda and pizza. The base year is 2020. Use this information to answer the question. Year Price of Soda Quantity of Price of Pizza Soda 2020 100 $10 2021 120 12 2022 120 14 What is the approximate percentage increase in prices from 2021 to 2022? O0 percent O b. 13 percent O 16 percent O d. 22 percent O38 percent $3 3 4 Quantity of Pizza 50 70 70
- 5. a) The table shows the prices of fruit purchased by the typical college student from 2001 to 2004. What is the amount spent each year on the "basket" of frult with the quantities shown in column 2? 2003 Items Qty. 2001 2002 2004 Amount Amount Amoun Price Amount Price Price Price t Spent Spent Spent Spent $0.75 $0.25 $0.70 $0.85 $0.25 $0.90 $0.88 $0.29 $0.95 Apples 10 $0.50 $0.20 $0.5 $2.00 12 2. Grapes Raspberries 1 Total Price Index Inflation 2.05 2.13 Rate b) Construct the price index for a "fruit basket" in each year using 2003 as the base year. c) Compute the inflation rate for fruit prices from 2001 to 2004.ciples of Macroeconomics || Fall20 1 What does the PPI measure? ed Select one: d out of O a the average change in the prices paid for all goods produced in the economy over a given year O b. the level of production of goods and services generated in the economy in a given year question O c. the difference between the prices consumers pay for goods and services and the prices producers pay for O d. the average of the prices received by producers of goods and services at all stages of the production pro Ti navigation Type here to searchPlz do fast asap..
- The economy of Greatstown produces Oranges, Strawberries, and Peaches. Below are the prices and quantities of these products produced between 1999 and 2001: Year 1999 1999 2000 2000 2001 2001 Price Quantity Price Quantity Price QuantityOranges $0.9 5 $1.4 3 $1.3 2Strawberries $0.7 3 $1.4 5 $1.9 6Peaches $1.7 9 $1.8 8 $0.5 8 Calculate Greatstown’s nominal GDP in 2000. Calculate Greatstown’s real GDP in 2001, using 1999 as the base year.14) Calculate the real change in the income in $. A B C D 1 An iron mining company sells three grades of to its customers. 2 Per ton prices (S) of these grades and tons produced are shown below for 2016 and 2017. 3 2016 2017 5 6 7 Grade Notations 1. 8 9 Total IL IIL Price 5 B 10 Quantity go 3000 2000 2000 give min. 1 decimal and do not use sign, e.g.125.3 Price p1 8 10 12 E Quantity 4000 2000 3500 FNimbus, Inc., makes brooms and then sells themdoor-to-door. Here is the relationship between thenumber of workers and Nimbus’s output during agiven day:Workers OutputMarginalProductTotalCostAverageTotalCostMarginalCost0 0 ____ ________ ____1 20 ____ ________ ____2 50 ____ ________ ____3 90 ____ ________ ____4 120 ____ ________ ____5 140 ____ ________ ____6 150 ____ ________ ____7 155 ____ ____a. Fill in the column of marginal products. Whatpattern do you see? How might you explain it?b. A worker costs $100 a day, and the firm has fixedcosts of $200. Use this information to fill in thecolumn for total cost.c. Fill in the column for average total cost. (Recallthat ATC T 5 C Q/ .) What pattern do you see?d. Now fill in the column for marginal cost.(Recall that MC TC 5 D ∆ / Q.) What patterndo you see?e. Compare the column for marginal productwith the column for marginal cost. Explain therelationship.f. Compare the column for average total costwith the column for marginal cost. Explain…