Q: 79340 A
A: Utility maximizing condition is determined by the tangency conditions. The slope of indifference…
Q: 9.16 You purchased a molding machine at a cost of $88,000. It has an estimated useful life of 12…
A: Straight line basis is a method of calculating depreciation and amortization, the process of…
Q: An after-tax analysis for a new $50,000 machine proposed for a fiber optics manufacturing line is in…
A: To find the MACR for 6 year period , yearly depreciation rates used are : Year Dep % 0 0 1…
Q: A small open economy has demand for goat cheese given by P = 20 - 0.5Q and supply given by P = Q -…
A: Answer; Option (d) is correct
Q: Question 6. A division of chapman corporation manufacures a pager. The weekly fixed cost for the…
A: Introduction Weakly cost and revenue of a chapmen corporation has given. MC = 0.08 q3 + 3.6 q2 +…
Q: V 1st attempt Assume that people in the economy have adaptive expectations. If the inflation rate…
A: Unemployment rate: - it is the percentage of people out of the total labor force who are able and…
Q: 10. Public policy toward monopolies Suppose that a government that is skeptical of efforts to…
A: Answer: Regulating the firms' behaviour is quite impossible because companies find ways to ovoid…
Q: The figure below shows the hypothetical domestic supply and demand for baseball caps in the country…
A:
Q: The concept of market efficiency applies only in the financial market. True or False?
A: Market efficiency is the economic concept to describe the functioning of the market and its ability…
Q: Most automobile companies in the United States between 1970 and 1990 knew that Toyota was able to…
A: Path dependence:- As a consequence of the organizational qualities or ideas and values,…
Q: 4. Two agents A and B have the following indirect utility functions: A In IA-a ln P₁-(1-a) ln P₂ Bln…
A: In economics, the utility function measures the welfare or satisfaction of a consumer as a function…
Q: Access to funds, domestically and internationally, is made easier with the presence of financial…
A: Access to funds explains the availability and affordability of the monetary resources to make an…
Q: 14. Holly consumes commodities x and y and her utility function is U(x, y) = 2xy³. Good x costs 2…
A: We are given with the utility function which is :- U(x,y) = 2xy^3 Also the price of good X is $2 and…
Q: Q3) How is peak-load price discrimination? Can it make consumers better off? Give an example.…
A: As we show Price discriminàtion involves sepàrating customers from different markets. There are…
Q: Indicate the effect (increase, decrease or indeterminate) on the equilibrium price and quantity of…
A: Demand curve shows a negative relationship between price and quantity demanded. It slopes downward.…
Q: Firm A Firm B Low Price High Price Low Price (2, 2) (10, −8)…
A: Answer - Collusive agreement :- The Collusive agreement is the agreement where one or more than…
Q: Answer the following questions The amount by which the quantity supplied of a product exceeds the…
A: In a market, various economic terms are used to define a specfiic market situation, such as…
Q: A government monument is being built that is expected to last forever. The first cost is $7,000,000.…
A: Below I attached complete answer
Q: in which two firms compete. Firm 1 faces TC1(Q) = 18Q and firm 2 faces TC2(Q) = 9Q. Suppose that…
A:
Q: 40. When we want to measure wage inflation in the labor market, we use the: O Consumer Price Index O…
A: Option 3rd is correct. 1st option - incorrect Consumer price index is used to measure change in…
Q: 1. The following table shows the National Income data for a country in a year 2019 Items RM billion…
A: Introduction The value of intermediate goods is deducted from the total quantity of production…
Q: What are the most significant trends in U.S wages over the past five years?
A: Minimum wage legislation. The minimum wage is the lowest salary that companies are legally allowed…
Q: Ireen wants to give her daughter Loaura a financial gift on the latter’s college graduation two…
A: As per the given information Present invested = 2000 Future worth = 5000 Interest compounded…
Q: mplete the numbered boxes on the following table, by writing the word or words needed to accurately…
A: Answer - Monetary Policies :- Monetary polices are the policies which has been controlled by the…
Q: Which of the following statements are true? a. If intangible capital is inseparable from the firm…
A: The exchange of goods and services between entities, or the buying and selling of commodities and…
Q: Suppose that the market demand for facial mud packs are given as follows: P = 2.200 - Q. Mud packs…
A: Given, Market demand: P = 2200 - Q
Q: 10. Suppose economists have found current job separation rate (s) and job finding rate () in the US…
A: * SOLUTION :- (5) Given that , The job seperation rate (s) = 5% = 0.05 The job finding rate…
Q: 5. Air is categorized as a "Common Pool Resource". a. Define "Common Pool Resource" b. List three…
A: Common-pool resources are important for the society and nature. The common pool resources are the…
Q: For a cost-effective approach to recycling in an industry, its necessary for firms with low…
A: Recycling costs and rates of cycling are interlinked to each other.
Q: Does Income reflect Wealth? In what ways?
A: In economics, income and wealth are considered as two different concepts as they include some…
Q: Question 3 For which of these goods would the market demand be more elastic, Residential electricity…
A: Answer: The elasticity of demand for a good is more elastic in the long run as compared to the short…
Q: 2. The following table shows the figures of National Income for a country. Item RM millions Gross…
A: Given Item RM Millions Gross Investment = I 1500 Government expenditure =G 2500…
Q: Data for 2018 Data for 2019 Quantity 4 Item: Price Price Hot dogs $1.75 $2.00 Pepsi 2 $1.25 3 $1.50…
A: The GDP is computed by multiplying the quantity of each commodity by its price and then adding all…
Q: Find the present value of $750 to be paid four years from now when the prevailing interest rate is…
A: Present value (PV) is the current value of a future sum of money or stream of cash flows given a…
Q: The rest of the questions refer to the following causal diagram, which is designed to let us…
A: Answer -
Q: Table 2 Bank of Duluth Assets Liabilities Deposits Reserves $240,000 $19,200 220,800 Loans Refer to…
A: Given Reserves =$19200 Deposit = $240,000 We have to calculate the change in money supply when…
Q: Ellen borrowed P100,000 from a local bank at 10% annually. She must pay back the loan in five years…
A: Given; Amount borrowed= P100000 Interest rate= 10% annually Time period= 5 years Number of…
Q: The following table gives nominal and real GDP for an economy for two years. Year 1 Year 2 1540.0…
A: Ans. The value of the GDP deflator in the country is the ratio of the Nominal GDP and Real GDP…
Q: 2. There are four firms in the widget market. Each of them emits five units of yuck, which are not…
A: According to the question, There are four firms in the widget market. Each of them emits 5 units of…
Q: Monopolistically competitive firms in a market face the following demand and costs, where P is…
A: Given; Demand function; Q=200N-P P=200N-QTotal Cost; TC=8+Q2
Q: Inflation The consumer price index (CPI) of a certain country s given by I(t) = -0.02t³ + 0.4² +126…
A: We have given CPI equation for t=0, 1, 2, 3 and 4
Q: warranty expired after 3 years of ownership. The cost of periodic mainten $800 every 2 years. If the…
A: First we compute Calculate the present worth of the repair and maintenance. Second we compute…
Q: Consider the following game, expressed in dollar terms: L R U $3,$2 $0.$1 D $1,50 $2,$1 (a) Suppose,…
A: Answer;
Q: Assess the validity of the following statement: An increase in government spending, the target…
A: When talking about a change in government spending, it can be said that it is one of the components…
Q: Ca=25+0.75 (Y-7) g=50 Xn=10 G=70
A: Aggregate demand= Aggregate Spending AD= C +I + G + NX At equilibrium Income= Aggregate Spending Y=…
Q: A senator in a certain state proposes to reduce the state's cigarette-tax. His reasoning is that is…
A: Elasticity of demand explains how the change in price will effect the demand of that good or…
Q: 14. Gross Domestic Product equals $1.2 trillion. If consumption equals $660 billion, investment…
A: Given information, GDP (Y): $1.2 trillion Consumption (C): $660 billion Investment (I): $220…
Q: A game in which players do not negotiate and do not work together is a: noncooperative game.…
A: Game theory basically refers to the usual study of how economic actors' interacting actions produce…
Q: 1) With monopoly, we only specify long run cost functions because we are not as interested in the…
A:
Q: Exhibit 18-5 2016 2017 Price Quantity Price Quantity Pineapples 12 100 4 125 Coconuts 5 60 4 75 If…
A: Real GDP: good produced in a given year valued at base year prices.
COMPUTE THE NOMINAL
Step by step
Solved in 2 steps
- Compute the nominal GDP Year: 2021 Value added of agriculture, fishery and forestry sector Value added of industry sector Government Final Consumption Expenditure Household Final Consumption Expenditure Imports Exports Statistical Discrepancy Growth Rate, Gross Domestic Product at current prices Gross National Product at current prices CPI(base year: 2012) GDP Deflator(base 2018) Population, 15years old and over Population, below 15 years old Population, 15 years old and over not included in labor Labor force employed #1,953,076.00 $5,595,046.00 #2,838,033.00 #14,609,470.00 #7,322,830.00 #4,983,040.00 90.00 8.07% #20,103,207.00 128.8 #104.75 75701 27064 27064 93.50%mment exE published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) Consumption (C) 13,321.4 Investment (I) 3,368.0 Exports (X) 2,350.2 2,928.6 Imports (M) Net Exports of Goods and Services 3,374.4 Government Purchases (G) Gross Domestic Product (GDP)Calculate (a) GDP using the expenditure and (b) value added (industrial origin ) approaches. Calculate GNP. Agriculture, Fishery and Forestry 2000 Exports of Goods and Services 12000 Government Consumption Expenditure 1000 Gross Domestic Capital Formation 2000 Industry 3000 Imports of Goods and Services 12000 Net Factor Income from ROW 500 Personal Consumption Expenditures 7500 Services 5000 Statistical Discrepancy -500
- The table below showsa country's potential Gross Domestic Product (GDP) and true GDP. 1970e 19754 1980 GDP 2,500- 3,5004 4,5004 5,500e 6,500e 7,500- 8,500- Year 1985e 1990- 1995e 2000 Potential (billion) KDNK is 3,890- 4,9814 2,8804 3,988e 7,518e 7,983e 7,850t right(billion) i. Sketch a business cycle based on the data provided above ii. Describe the business cycle. eYear 2001 2002 2003 2004 2005 Output Price Nom. GDP Real GDP 50 $23.00 $1,150.00 $1,350.00 52 $ 27.00 $1,404.00 $1,404.00 53 $ 30.00 $1,590.00 $1,431.00 51 $ 34.00 $1,734.00 $1,377.00 56 $31.00 $1,736.00 $1,512.00 Was the economy better off in 2003 or 2004? ExplainCalculate the GDP using Income OR Expenditure Approach (all figures are in billions of dollars) ITEM Amount ($) Government purchase of goods and services 1,721.6 Exports 1,096.3 Receipts of factor income from the restof the world 382.7 Depreciation (consumption of fixed capital) 990.8 Net fixed Investments 688.2 Corporate income taxes 265.2 Consumption expenditures 6,739.4 Indirect business taxes 664.6 Imports 1,475.8 Payments of factor income to the rest of the world 343.7 Inventory change 56.5 Social security contributions 702.7 Undistributed corporate profits (retained earings) 130.3 Government transfer and interest payments 1,366.3 Personal interest payments 286.2 Personal Taxes 1,235.7 Type answer please
- Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021 2560 Use the information in Table to measure the consumer price indexfor 2019, 2020 and 2021 respectively.Show your calculations and round off to two decimal places. Show how gross national product (GNI) can be derived from gross domesticproduct (GDP). Explain, with the aid of an equation, the components of the consumptionfunction.GDP Table Transfer payments Government purchases 32 160 Personal taxes 76 Corporate Income taxes Taxes on production and imports 56 30 Social secunity contributions 16 Undistributed corporate profits Proprietors income 38 50 Compensation of employees Personal consumption expenditures Consumption of fived capital 516 644 Rents 66 Exports 28 Corporate profits 140 nterest 64 Dividends 46 Imports Gross private domestic investment Net foreign factor income eamed Statistical discrepancy 34 126 20 70 Refer to the above data. PI is: Oa. $702. Ob. Sy28. Oe S758. od. Sy26.Dollars (trillions) 25 20 15- 10- 0 -5 11 Expenditure components of nominal GDP 1950 GDP (Y) Consumption (C) Investment (1) Government spending (G) Exports (X) Imports (M) 1960 Figure Data Notes 1970 198 1990 2000 2010 The following will refer to the data table in the chart above, to access the data table for this graph you will need to click on the data button at the bottom of the chart. In Q2 of 2008 which of the following were above 9 trillion dollars (annualized)? Select the two correct answers.
- The table contains price and quantity information for two vehicle models produced by Ford Motor Company, the F-series trucks and Escape SUVs. 2016 2016 2017 2017 price quantity price quantity ford escapes $24,485 307,069 $24,645 308,296 ford trucks $44,400 820,799 $24,645 896,764 a. Calculate the amount contributed by Ford to U.S. GDP (real and nominal) from the sales of the two models in 2016 and 2017. b. Determine the growth rate of nominal GDP (if Ford were the entire economy). c. Determine the growth rate of real GDP (if Ford were the entire economy).The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. Prices and Quantities Year Price of Cereal Quantity of Price of Milk Quantity of Cereal Milk 2008 $4.00 90 $1.50 150 2011 $6.00 150 $3.50 200 In 2011, this country's Select one: real GDP was $900, and the GDP deflator was 177.8 O.b. real GDP was $1065, and the GDP deflator was 150.2 Oc. real GDP was $900, and the GDP deflator was 150.2 O d. real GDP was $1065, and the GDP deflator was 177.8 Next page geConsider an economy that produces and consumes bread and automobiles. In the following table are data for two different years. Year 2000 Year 2010Goods Quantity Price Quantity PriceAutomobiles 100 50000 120 60000Bread 5000 10 4000 20a) Using the year 2000 as the base year, compute the following statistics for each year: nominal GDP, real GDP and the GDP deflator and explain briefly about what these values indicates? (6) *