Real GDP versus Nominal GDP?

Q: What is the difference of the amount of P5000 3 years from now using ordinary simple and compound…

A: Given information: Present value (P): P5000 Time period (t): 3 years Interest rate (r): 10% To…

Q: A company estimates that the relationship between unit price and demand per month for a new product…

A: Given, p=$100-$0.10DFixed cost = $15,972 per monthvariable cost = $ 45 per unit

Q: Rent controls are a typical example of a price ceiling. Please select all likely consequences of…

A: A price ceiling is the commanded maximum amount a seller is allowed to charge for a product or…

Q: Distinguish between Fisher’s quantity theory and Keynesian’s theory of money

A: The fundamental tenet of Fisher's quantity theory of money is that inflation is primarily caused by…

Q: Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the…

A: Efficiency wages are believed to be paid by employers who pay their staff better salaries. This…

Q: You have a bank deposit now worth ​$4500. How long will it take for your deposit to be worth more…

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Q: 1. Given the estimated market demand and supply functions for coffee as: Qxd= 85.6 –10Px –3Ps +Y and…

A: Price is determined through market mechanism. Demand and supply are the function which help to…

Q: Use the graph below to answer the following question(s). Investment Goods 10- 298765 MNT B .D 0 1 2…

A: This is the PPC - production possibility curve which shows the two good's possible combination that…

Q: Suppose that Country A's no-trade PPF is y = -2x + 40 and Country B's no-trade PPF is y = -x +30,…

A: Country A's PPF equation: y=40-2x            ..... (1) Country B's PPF equation: y=30-x…

Q: The tables to the right show recent state income tax C... (A) Write a piecewise definition for the…

A: As we need to find the tax due of an individual, hence we use the table "Single, Married filling…

Q: Use the following information to work Problems 1 to 3. Brazil produces ethanol from sugar, and the…

A: In microeconomics theory, the value or benefit forfeited by engaging in a specific activity in…

Q: A company is analyzing a make-versus-purchase situation for a component used in several products,…

A: In order to best option, we need to calculate the total cost of both options. The total cost will…

Q: What is the value of real GDP in 2019 if the GDP deflator is equal to 1.1 and nominal GDP is $21.5…

A: The GDP deflator:- The GDP deflator, also referred to as the implicit price deflator, is a measure…

Q: ECONOMICS UPVOTE WILL BE GIVEN. PLEASE WRITE THE SOLUTIONS LEGIBLY. NO LONG EXPLANATION NEEDED.  A…

A: production cost is the monetary value incurred in the process of production on factors. It is the…

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A: We know that The globalization refers to the process of global integration, which includes the…

Q: How would an increase in income tax influence the aggregate demand and the aggregate supply in the…

A: Aggregate demand: Aggregate demand, or final domestic demand, is the total demand for final goods…

Q: 20. The compound interest on a certain sum of money for 2 years is Rs. 52 and the simple interest…

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Q: In a country the production function is y= k¹2. The fraction of output invested, y, is 0.25. The…

A: The formula for steady state is given by: ky=sdwhere k is the capital per workery is the output per…

Q: A man was offered a landbank certificate with a face value of  P 100,000 which is bearing an…

A: Given that; The face value of landbank certificate = P100,000 The interest rate is = 8% payable…

Q: According to economic theory, a government with a contractionary fiscal policy would decrease…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first question for you. If…

Q: State Department's Blunt Appeal Heartens Couple Held in Qatar What are some of the cultural…

A: What are some of the cultural misunderstandings that led to the couple's arrest?   The case has been…

Q: Recently, television commercials promoting toothpaste featured a well-known chef expressing…

A: Price elasticity measures how responsive a good's supply and demand are to price changes. The…

Q: Amazon has a "Lightning Deal" where it slashes the price of one item. At 3:15 p.m. today, they…

A: The overall surplus of a market serves as a barometer for the general well-being of all…

Q: PProblem 3-Page (174): The following table gives you information on the total cost of Mac's ice…

A: Average total cost is alluded to as the entirety of all production costs divided by the total…

Q: A manufacturer produces electronic devices at a labor cost of PhP 53 a piece and a material cost of…

A: Labour Cost(L) = 53 Material Cost(M) = 53 Fixed Charges(FC) = 4,036,701 Variable Cost(V) = 34…

Q: Given that the level of labour is 10, the total production is 1,200, and the marginal product of…

A: The social science of economics examines and analyses the actions and choices that economic agents…

Q: A company periodically produces a part that is a basic component of an assembled product. Each time…

A: Part-period balancing depends on the idea of Economic Part Periods (EPP). EPP is determined by…

Q: Identify and describe the four stages of the ‘Economic Cycle’.

A: Economic Cycle is defined as a cycle which refers to the fluctuations in an economy between the…

Q: 28 24 20 16 12 8 4 S1 S2

A: The shift in the demand curve occurs due to the factors other than the price. The change in price…

Q: Explain in detail how an improvement in the national identification system can reduce adverse…

A: Moral hazard is a situation where one party intentionally engage in risky activities knowing that it…

Q: An increase in the supply of labour has the effect of decreasing the Select one: a. wage. O b.…

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

Q: Given the following data, use present worth analysis to find the best alternative, A, B, or C. Use…

A: Present worth analysis explains the amount which explains the current cost of the alternatives here…

Q: Refer to Table 6.3 below, use the expenditure approach to calculate gross domestic product from the…

A: The expenditure approach is a technique for computing a country's total national output (Gross…

Q: 1. Provide a brief explanation of each of the components of Gross Domestic Product: Consumption…

A: These terms such as GDP, net export, consumption expenditure, etc are the components of the national…

Q: What is the effect of a price ceiling on the quantity demanded of a product? what is the effect of…

A: The maximum price that is set by the government for a particular commodity and services is called…

Q: Refer to Table 13-9. What is variable cost when output equals 30 units? Select one: O a. $90.00 O b.…

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

Q: UK officially left the EU as of 31st December 2020 to ‘trade internationally’. Discuss the impact…

A: Impact upon consumers When it comes to prices, international trade can have a considerable impact on…

Q: Country similarity theory was proposed by-

A: The possibility that nations with similar characteristics are probably going to trade with one…

Q: Question 3 a. Following your review of elasticity, will the elasticity of demand for Nissan sedans…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Which of these is a guideline for making a decision? Guaranteed gain Marginal cost is less than…

A: Optimal decision making requires optimum utilization of resources in order to attain certain level…

Q: 1.Show that interest rate has an impact on the income velocity of money.

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

Q: 12. Government prefers to reduce imports with a tariff instead of a quota depends on whether A.…

A: We know that In an open economy, tariffs and quotas are the two types of trade barriers used by the…

Q: ECONOMICS UPVOTE WILL BE GIVEN. PLEASE CHOOSE THE CORRECT ANSWER. NO LONG EXPLANATION NEEDED.  A…

A: Production cost is the main component to decide the level of production and price of goods. It is…

Q: In Jonesville, the market price and equilibrium quantity demanded of ice cream drops every year in…

A: The law of demand states that price and demand have an inverse relationship. If the price falls…

Q: The production possibility frontier of an economy is as shown in Figure 1. (a) () If the economy…

A: The Production Possibilities Frontier (PPF) illustrates all the possible output combinations of two…

Q: 2. Suppose Bank A initially started with $14 million in capital. A total of $156 million in…

A: Calculation of Reserve requirement :  Reserve Requirement= Checkable Deposits × Reserve Ratio…

Q: A bicycle component manufacturer produces hubs for bike wheels. Two processes are possible for…

A: The term "revenue" refers to the total sum of money made through the sale of services and goods…

Q: Again consider an extension of the Stag Hunt game. There are N = 3 hunters. This time each hunter…

A: In game theory, a Nash Equilibrium is a set of tactics. According to the Nash Equilibrium, the best…

Q: Suppose the figure night, raises the floor price of milk above the displayed 51.50-per-litre floor…

A: A price floor is the minimum legal price below which the quantity can not be traded.  From fig, At…