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- Economics Alexㅤspendsㅤallㅤhisㅤincomeㅤonㅤblueberriesㅤandㅤstrawberries.ㅤHisㅤMarginalㅤUtilityㅤof ㅤblueberriesㅤisㅤMUB=100-B.ㅤHisㅤtotalㅤutilityㅤofㅤstrawberriesㅤisㅤUS=900+150S-S2.ㅤFindㅤAlex’s ㅤincomeㅤifㅤtheㅤpriceㅤofㅤblueberriesㅤisㅤPB=$8/kg,ㅤtheㅤpriceㅤofㅤstrawberriesㅤisㅤPS=$10/kg,ㅤandㅤAlex ㅤconsumesㅤ30kgㅤofㅤblueberries.Explain how GDP, the categories of economic development, and the business cyde influence marketers' deci- sions in entering global markets. Whal are the BRICS countries? Whal is the Group of Seven (G7)?Y=F (K, L) = AK0.3L0.7 Country L (millions) K (trillions) Y (GDP) X 78 0.26 1.1 Y 100 0.84 1.6
- Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?Using the data in Table 32.3, rank the seven regions of the world according to GDP and then according to GDP per capita.
- An increase in the initial stock of knowledge: Suppose we have two economies—let’s call them Earth and Mars—that are identical, except that one begins with astock of ideas that is twice as large as the other: A Earth 0 = 2 × A Mars0 Te two economies are so far apart that they don’t share ideas, and each evolves as a sepa-rate Romer economy. On a single graph (with a ratio scale), plot the behavior of per capita GDP on Earth and Mars over time. What is the efect of starting outwith more knowledge?According to the figure showing 2020 GDP for selected countries, how much larger (in percentage terms) is America's GDP than: The G D Ps are as follow: United states, 21.43; China, 14.24; Japan, 5.08; India, 3.87; Great Britain, 2.83; Russia, 1.70; Mexico, 1.27; Sweden, 0.53; Greece, 0.21; Haiti, 0.08. Instructions: Round your responses to the nearest whole number. Russia? _________% larger Germany? ________% larger_________ is output per hour in the business sector. Question options: a) GDP per capita b) Investment c) Productivity d) Net exports ____________ is a term which refers to the widespread use of power-driven machinery and the economic and social changes that resulted in thefirst half of the 1800s. Question options: a) Industrial Revolution b) Capital deepening c) Living standard d)Technology
- In the economy of Ukzten in 2010, exports were $500, GDP was $6400, government purchases were $1500, imports were $600, and investment was $2000. What was Ukzten’s consumption in 2010? Answer a. $4000 b. $2800 c. $3000 d . $1800An economy produces 10 cookies in year 1 at aprice of $2 per cookie and 12 cookies in year 2 ata price of $3 per cookie. From year 1 to year 2, realGDP increases bya. 20 percent.b. 50 percent.c. 70 percent.d. 80 percent.calculate the most economic quantity to order each time for 2023 (expressed to next whole number)
