GDP is an important measure of economic activity, telling us about production as well as employment and income. However, it is not a perfect measure.  What are two problems with using GDP to measure the standard of living?

Q: True/ False Firm can not influence price in perfect competition

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A: Future Worth (FW) FW is the determined amount that will be available on a future date letting the…

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Q: half their initial prices. One would expect Gabriel's budget line to: shift to the right. stay the…

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Q: In 2001 the Nominal GDP = $120 billion and Real GDP = $135 billion. Calculate the GDP deflator for…

A: Nominal GDP is the value of GDP that includes the effect of inflation.  Real GDP is the value of GDP…

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A: When interest rates are high, borrowing money is more expensive; when interest rates are low,…

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A: An equilibrium price is a balance of demand and supply elements. There is a tendency for prices to…

Q: Which of the following is a strategic engineering economic decision? All the other choices are…

A: The strategic engineering economic decision includes all decisions on investment relating to…

Q: SHORT RUN PRODUCTION Short run Production In the short run, firms can for a time increase its output…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 3. When the supply of a product or service goes down and the demand stays the same the Price will…

A: Since you have posted multiple Questions, as per the guidelines we can solve only one question per…

Q: If the required reserve ratio is 5%, how much can this bank lend? A) 400,000 B) 600,000 C)…

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Q: In the mid-1990s, the state of New Jersey revised its rules for the individual insurance market and…

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Q: . Natural monopoly analysis The following graph gives the demand (D) curve for satellite TV…

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A: Constraints in production are the factor of production, that is the amount of labor, capital, or…

Q: ALTERNATIVE A: A solar panel costs 25,000. 7 solar panels are needed in a company. The installation…

A: Given that;   Power line Solar First cost 20000 25000×7=125000+10000=135000 Annual cost…

Q: A) $37,365 B) $37,205 C) $37,890 D) $36,36511. 11. A machine has a first cost of $150,000. Its…

A: The information being given is as follows:- First cost = $150,000 Service life = 10 years  Annual…

Q: he multiplier is and the change in eal GDP from the increase in government xpenditures is billion

A: Gross domestic product is a monetary measure of the market value of all the final goods and services…

Q: "What Should be a Fair Minimum Wage in the United States and Why?"

A: Minimum wages are the minimum of remuneration that an employer must pay wage earners for labour…

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A: Returns to scale quantify the shift in productivity resulting from a long-term increase in all…

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A: In the study of microeconomics, an Isoquant curve is a concave-shaped curve on a graph that depicts…

Q: What are the millennium goals? A.) Carbon emissions targets set down at multinational conferences…

A: The millennium development goals (MDGs) are a set of eight goals established by the United Nations…

Q: How might the loss of farmland on the edge of rapidly growing cities alter the coice of crops that…

A: An agrarian society, also called an agricultural society, is a society that constructs social order…

Q: 2. How much should Analyn deposit at the beginning of every three months if the bank pays 12%…

A: r = 12% compounded quarterly FV = 416084 n = 3 Years

Q: Supermarché Jean Claude has decided to manufacture its own brand of non-alcoholic beverages, called…

A: The production possibility curve represents all the possible combinations of the products and…

Q: A night shift cashier getting paid more than day shift cashiers is due to a. compensating wage…

A: ***Since the student has posted multiple questions, hence the expert is required to solve only the…

Q: The SolarFarm powerplant has both fixed and variable costs. As the plant expands production, it…

A: The firm's marginal cost is the additional cost of producing one more unit of output. As production…

Q: Discuss the effects of trade policy on poverty and inequality. Despite potential adverse…

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Q: Describe the current state of two economic indicators [ i.e. inflation] in the Philippines and how…

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Q: How does the idea relate to the definition of economics? allocating a square block in the heart of…

A: Opportunity cost: Opportunity cost signifies all the alternative benefits sacrificed to obtain one…

Q: (c) The government wishes to stimulate spending, and writes a law to reduce the interest rate from…

A: Borrowing refers to the act of obtaining a loan, which is a sum of money that is lent by a lender to…

Q: 1. Tonio wants to have P95,000 for his traveling expenses four years from now. How much must he save…

A: Disclaimer- “Since you have asked multiple question, we will solve the first question for you as per…

Q: In the following table, select the amount of each good that each country exports and imports in the…

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Q: The Big Ideas: End of Chapter Problem As Nobel prize winner and New York Times columnist Paul…

A: The economy and health are intricately intertwined, and research shows that, while it may not always…

Q: 1.4. Suppose you are against one of two alternatives but 90% of the electorate disagrees with your…

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Q: The market demand for productXis given by: \[ Q_{d}=6-1 / 2 P \text { or } P d=12-2 Q \] The market…

A: A consumer’s desire to buy a product or service and willingness to pay for it at prices during a…

Q: The demand curve for a monopolist is inelastic. Why?

A: A monopoly is a market structure in which total market control is exercised by just one seller.…

Q: a) How do financial institutions benefit the overall economy? b) How do Fls reduce monitoring costs…

A: Financial institutions bridge the gap between savers and investors. A healthy economy would have a…

Q: True/ False  Marginal utility decline with the increase in the unit of consumption of a good.

A: Utility refers to the satisfaction or benefit that a consumer derives from consuming a good or…

Q: Suppose I manage the customer service/satisfaction department for my company. After analyzing the…

A: Given that; The function is  R= 50+6L-.6L2 In the above function L represents customer service…

Q: Use the supply and demand analysis of the market for reserves to visually illustrate and explain how…

A: Reserves are needed by banks to settle transactions in payment systems because they must be able to…

Q: When the local grocery store puts cereal on sale, reducing its price from $4.40 per item to $3.40…

A: Introduction Price elasticity of demand evaluates how responsive the amount of an item or service…

Q: An asset purchased for $50,000 is to be depreciated over 5 years using the straight-line method.…

A: Cost of Asset = 50,000 salvage Value = 10,000 n = 5 Years

Q: CAN YOU SHOW ME THE STEPS ON HOW TO GRAPH THIS IN EXCEL?

A: The relationship between the quantity of a product that producers want to sell at different prices…

Q: Which of the following is categorized as land in general economic models? Salmon All of the choices…

A: In the economics model, the land is defined as land and the products of land-raw materials.…

Q: Explain the consumption duality to derive Marshallian and Hicksian demand curves. Discuss why this…

A: Neoclassical economics is a wide theory that concentrates on supply and demand as the driving forces…

Q: 9. The SolarFarm powerplant has both fixed and variable costs. As the plant expands production, it…

A: A seller who has no other rivals in the market is said to be a monopolist. In the entire market, he…

Q: Fine-tuning" the economy is not possible for the United States and generally large economies…

A: A course of action that aims to change or regulate the economy's behaviour is known as an economic…