do fast. 2. In one year in the country of Countem, workersearned $4150, the proprietor's income was $392,rental income was $20, corporate profits were $683,net interest was $228, taxes on production and im-ports were $329, business current transfer paymentswere $12, the current surplus of government enter-prises was $3, statistical discrepancy was $28, con-sumption of fixed capital was $882, factor incomereceived from the rest of the world was $331, andpayments of factor income to the rest of the worldwas $623.Based on these data, compute the national in-come, net national product, gross national product,and gross domestic product.

National income is the total income earned by the nation's residents both domestically and abroad.…

Answered: 2. In one year in the country of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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It's the year 2023 and you are the manager at a local brew pub here in Fayetteville. You are one of many local breweries in town; therefore, your customers have many options of where to spend their beer money. You want to increase revenue and decide to raise the price of a pint of your craft beer. The table below shows the sales of beer from week 1 and sales in week 2 after you raised price. Table 1. Sales Data for Weeks 1 and 2 Week Week 1 Week 2 Price ($ per pint) $6.00 $8.00 Sales (Pints) 2,500 1,100 Using the information in the above table, what was the change in total revenue from week 1 to week 2 when you changed your price? (enter your answer without a dollar sign and indicate a decrease in revenue, if applicable, by including a negative (-) sign)
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For each example listed, decide if the good is a normal good or an inferior good. Make sure you answer from the perspective of the individual or individuals doing the buying or consuming. Billy's mom increases his weekly allowance by %5. As a result, Billy increases the number of apps he downloads on his smartphone. Smartphone apps are

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