Data for 2019 (Base Year) Data for 2020   Quantity Price Quantity Price Potato 600 2.50 680 3.00 Rice 840 2.00 800 2.80 Computers 500 850 450 950 Cars 300 15,000 200 18,000     Calculate Nominal GDP for 2019 and 2020. Calculate Real GDP for 2019 and 2020 Calculate the GDP Deflator

Q: which statement is correct Moving production from a high-cost producer to a low-cost producer will ...

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...

Q: Some economic historians have noted that during the period of the gold standard, gold discoveries we...

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A: Equilibrium price is the price at which quantity demanded equals quantity supplied and the market cl...

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A: Here, the given table shows the price index in five consecutive years from 2010 to 2014.

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A: Externalities refers to the spillover effects of one person economic activities to another's wellbei...

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A: Elasticity of demand is used to find the relationship between quantity demanded and the determinants...

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Q: Suppose that two firms, X and Y, face the following marginal abatement costs (MACX and MACY) and tot...

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost th...

Q: In the graph, which price would allow for a binding price ceiling? P. 16 12 5. D 20 40 60 O $5 O $8 ...

A: Binding price ceiling is the upper limit on the price which is lower than the market  equilibrium pr...

Q: Question 5: (a) Define the Income elasticity of demand?

A: In economics, income elasticity is used to understand the consumer behavior at the marketplace with ...

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A: Since you have posted multiple questions, as per the guidelines we can solve only one question per s...

Q: P(-1.35

A: P(-1.35 < z < 1.35) 

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A: The above question is related to the concept of market structure. There are primarily two types of m...

Q: Time-series data: are always associated with price-making firms. may exhibit trend or cyclical var...

A: Time series data refers to the collection of data on the basis of changing time period, and to show ...

Q: Question 3 A firm in a competitive price-searcher market faces O a horizontal demand curve at the ma...

A:

Q: Which of the following statements is false? A firm’s costs are usually higher in the long run than...

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Q: Why are citizens punished with sin taxes

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A:

Q: what is the importance of investing in Bitcoin

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Q: b) Graph the two individual demand curves (with X on the horizontal axis, PX on the vertical axis) f...

A: Demand for good X by individual 1: X1 = 10-2Px + 0.01I1 +0.4Py Demand for good X by individual 2 X2 ...

Q: In your opinion, how can we attract new foreign investors to our country in order to develop our eco...

A: Foreign investment refers to a situation when the individual from a foreign country invest in domest...

Q: demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or on price?

A: Answer is given below

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A: Absolute advantage refers to the ability to produce more goods using same resources or same quantity...

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Q: 6. In the year 2017, the net national product for a country was RM12 000 million. In year 2019, the ...

A:

Q: Blana is the manager of a local bank branch in College Station where he consumes bundles of two comm...

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Q: re there no benefits to dual employment?

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Q: Income Expenditures 0 100 100 150 200 200 300 250 Refer to the table above to answer the following...

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Q: Emma borrowed $3,000 from a lending company for 3 years at 12%. At the end of 3 years, it renews the...

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Q: State and explain at least 2 limitations when the central bank implements monetary policy.

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Q: Expected Utility formulation was initially proposed as a solution to the St. Petersburg paradox (or,...

A: Given to estimate the utility formulation which is initially proposed as a solution to the St.Peterb...

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Q: How do laws and politics affect the trade between states?

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A: Mortgage-backed securities are generally the variations of assets-backed securities formed by clubbi...

Q: A company produces and sells a consumer product and is able to control the demand by varying the sel...

A: Given demand function is  p=38+2700D-5000D2     Note D>1 Total fixed cost =$1000 and variable cos...