oranges oranges VCRS VCRS YEAR price Quantity price Quantity 1998 $2 5000 $400 1000 1999 $3 400 $300 2000 what is the infaltion in 1999 what is the growth of real GDP in 1999
Q: Give correct answer with explanation?
A: (b) Between 2% and 5%Explanation:Answer image:The rate of return, also known as the weighted average…
Q: Refer to the characteristics of perfect competition and examine the hawker industry in Singapore. Do…
A: The main aim is to examine the market structure of the hawker business in Singapore to establish…
Q: Which of the following statements regarding perfect price discrimination is false? Question 7Answer…
A: The objective of the question is to identify the false statement among the given options related to…
Q: 7.10 Suppose New York wants to build a new facility to replace Madison Square Garden. Assume that…
A: The difference between the present value of cash inflows and outflows over time is called net…
Q: The figure to the right shows the private and social marginal costs as well as the marginal benefit…
A: An externality refers to the unintended impact of an economic activity on a 3rd party that is not…
Q: “Imports destroy jobs; exports create them. The average American is hurt by imports and helped by…
A: By ignoring the larger effects of global commerce, the phrase oversimplifies the relationship…
Q: For each of the regions listed in the following table, use the midpoint method to identify if the…
A: The demand(DD) curve represents the correlation between the price(P) of a service or item and the…
Q: Suppose Cyberdyne Systems creates a Professional version of its machine learning software. By…
A: Pricing Strategy:Pricing strategy refers to the method or approach a company uses to set the prices…
Q: An Engineer earns $200 an hour in her profession. She can hire a Housekeeper for $15 an hour to…
A: The following is a summarized response; however, for a more thorough explanation, refer to the next…
Q: Price $14 $12 $10 $8 $6 $4 $2 100 Question 4 Supply (with tax) ***** 10 LE Supply 200 300 FEE Demand…
A: Total of consumer surplus and producer surplus is known as total surplus. Total surplus = consumer…
Q: 3. Which lottery payout scheme is better? Suppose you win a raffle held at a neighborhood elementary…
A: Here we have to analyse which lottery payout is better given the different interest rates.Present…
Q: If you spent your entire income, you could afford either 3 units of x and 9 units of y or 9 units of…
A: The individual can afford 3 units of good X and 9 units of good Y.It can also consume 9 units of…
Q: 00 a 34 30 22 18 T T T Multiple Choice 9; $30 6; $34 6; $22 m 9; $18 E₂ E₁₁ The graph shown…
A: A tax is a compulsory financial charge or levy imposed by a government on individuals, businesses,…
Q: The following table lists the per gallon prices of gas and milk for the months of April, May, and…
A: So, the inflation rate for May is approximately 67.2%.Explanation:To calculate the inflation rate…
Q: Explain the 4 ways the Federal Reserve would increase the money Supply and explain and graph how…
A: The monetary policy is the set of actions imposed by the central bank of the country to impact the…
Q: Question 2: Consider a model exactly like that in Question 1 - where the person receives income…
A: The objective of this question is to determine the optimal consumption in two periods given a…
Q: In this section, we will combine the Solow and Romer models together and derive a model that will…
A: The objective of the question is to understand the Solow-Romer model, which combines the Solow model…
Q: For the cheap talk game as shown, find two separating equilibria and two babbling equilibria.
A: Signaling games involve players with different traits trying to communicate those traits through…
Q: Suppose the information in the following table is for a simple economy that produces only the…
A: Real GDP is considered as the value that is calculated after adjusting the overall productivity…
Q: Find the final hourly wage if a $10.50 starting wage is increased by 4.5% every 6 months for 9…
A: Here we have to calculate the final wage given the increase ration of 4.5% every 6 months for 9…
Q: Consider the following EOY cash flows for two mutually exclusive alternatives (one must be chosen).…
A: The EOY cash flow of two mutually exclusive alternatives are given as follows Lead AcidLithium…
Q: What is needed in order to keep inflation low over the long run? O Muple Choice Ofecal policy that…
A: Monetary Policy: Monetary policy refers to a system of principles that the central bank uses to…
Q: Focusing on a single rotation model with land sale, describe the impact of each of the following…
A: In environmental economics, a single rotation model with land sale is a framework for determining…
Q: You are asked to estimate the demand curve for Lake Mead recreational area by Las Vegas residents.…
A: “Since you have posted a question with multiple sub-parts, we will provide the solution only to the…
Q: Exhibit: The Aggregate Demand/Aggregate Supply Model 1 Which of the following statements is…
A: The economy failing to produce the desired quantity of a specific amount of resources is termed as…
Q: Sandy can work for a wage of $25 per hour up to a maximum of 480 hours per month. She faces a…
A: Employment income comprises salary, wages, gratuity, other profit, or incidental benefit of any kind…
Q: Consider a supply chain with the manufacturer, the retailer and end-users, using a buy-back…
A: Demand is the desire of an individual ability and willingness to pay for a product. The demand is…
Q: The benefits associated with a nuclear power plant cooling water filtration project located on the…
A: The benefit-cost ratio (B/C ratio) is used to assess the desirability of an investment or project by…
Q: If a manufacturer of electronic devices invests $720,000 in equipment for making compact…
A: Initial investment = $720,000Revenue received = $245,000 per yearnumber of years (n) = 10Salvage…
Q: It is estimated that the annual maintenance cost of a statue erected in front of a public building…
A: The objective of the question is to calculate the capitalized cost for maintaining the statue…
Q: Which of the following statements(s) are correct with regard to factors affecting the elasticity of…
A: The issue requires evaluating statements connected with factors that influence the elasticity of…
Q: A shoe store in a monopolistically competitive market has a demand curve for their shoes given by P…
A: Demand measures the willingness and the ability of the individual to pay for the commodity. The…
Q: 1 17 2 345 5 6 Seed Average Price 3 Marketing Year Index $/short ton 4 127.7 192.4 7 8 B 9 10 11 12…
A: See the answer image in the explanation field.Explanation:Approach to solving the question:The…
Q: In a certain town, 5 people are preparing for dinner. Each person decides for themselves whether…
A: Nash Equilibria in Dinner Preparations:Modeling the Game:Players: The 5 residents in the…
Q: (1-4) Assume that consumers all around the world only consume Big Macs at MacDonald's. An American…
A: The objective of the question is to determine the real exchange rate between China and India based…
Q: National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C)…
A: National saving(S) in a closed economy refers to the total amount of income(Y) that households,…
Q: Consider a bilateral trade model with two-sided asymmetric information. The buyer's value is private…
A: In trade, the Bayes Nash Equilibrium arises when each participant's strategy optimizes their…
Q: Consider the following data for a closed economy: Y $14 trillion C = $9 trillion I= $1 trillion TR=…
A: Private savings refer to the national income remaining after consumption expenditure and tax…
Q: Each month Larry purchases household utilities. His preferences over gallons of heating oil (x) and…
A: A want satisfying power of a commodity or service is known as its utility. Utility is a significant…
Q: Suppose you own a bookstore where you currently sell 23 Harry Potter adventure novels per day at a…
A: Price elasticity of demand measures the responsiveness of change in quantity demand to change in…
Q: A retrofitted space-heating system is being considered for a small office building. The system can…
A: Purchase Cost = $72,000Annual savings of electric power = 210,000 kWh (for 6 year period)Cost of 1…
Q: just a,b and c please! thank you
A: Check explanation. Step by Step explanation is provided.Explanation:
Q: The table to the right gives the employment share of four industries within the three regions of a…
A: Identifying tradable industries based on employment involves considering sectors that have a…
Q: Table 1: Q Given 76 248 492 784 1,100 1,416 1,708 1.952 L Given 1 N34567 2 8 K Given N N N N N N N 2…
A: Average Product of Labor (APL) represents the average level of output produced per unit of labor…
Q: Which of these two graphs shows more elastic demand, assuming the axes are the same?
A: The elasticity of demand:Elasticity is defined as the responsiveness to change in one variable. When…
Q: Exercise 1.4. There are two players. Each player is given an unmarked envelope and asked to put in…
A: The game theory term refers to one of the branches in mathematics (and economics) that…
Q: The graphs illustrate an initial equilibrium for the economy. Suppose that the Federal Reserve…
A: Short-term macroeconomic situations involve immediate responses to fluctuations in demand or supply,…
Q: 3 Using the information in the Table below answer the following questions: Quantry of labour…
A: Real wage rate: This is the inflation/price adjustments wage rate that the laborers enjoy from their…
Q: Please show your work. Where there are explanations, justify your answer. 1. Consider a game with…
A: The scenario describes a two-player game with the following elements:Players: Players 1 and Player…
Q: Suppose that a firm see a decrease in the wage rate. This leads to: a rightward shift in the firms…
A: Markets efficiently distribute resources by matching supply(SS) and demand(DD). This ensures that…
| oranges | oranges | VCRS | VCRS | |
| YEAR | price | Quantity | price | Quantity |
| 1998 | $2 | 5000 | $400 | 1000 |
| 1999 | $3 | 400 | $300 | 2000 |
what is the infaltion in 1999
what is the growth of real
Step by step
Solved in 1 steps
- Given the following income data, please answer the questions below: Real GDPConsumption IgGovernmentExportsImports$ 80000$120000$7000 $18000$6000$11000$160000$180000$7000 $18000$6000$ 11000$240000$240000$7000 $18000$6000$11000$320000$300000$7000 $18000$6000$11000$400000$360000$ 7000 $18000$6000$11000 a. Solve for net exports in each row.b. Solve for aggregate expenditures (AE) in each row.c . State the value for the equilibrium GDP. d. If imports were to increase by $40000 so they are now equal to $51000. solve for net exports again.e. With this new export value, solve for aggregate expenditures in each row.f. State the value for the new equilibrium GDP.g. Solve for the multiplier (you can solve for either the actual or simple multiplier).Assume you have the following data for a hypothetical country for a specific year (in billions of ZAR):Wages and Salaries: R2,500Interest: R300Rent: R200Profits: R1,000Taxes (Indirect Taxes Minus Subsidies): R400Depreciation: R500Given the data above, which of the following methods of calculating Gross Domestic Product (GDP) may beused?A. Expenditure approachB. Income approachC. Product approachD. Trade approachNational Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal Income
- Suppose a closed economy has a national income of $260 milion. $535 midon in private savings, $200 millon worth of tax evenue, and $150 milion in govemment spenting what is the consumprion expenditure in this economy? Os125 milion Os155 milion OS385 mition Ossa5 milion OS645 milionWhat are the main components of measuring GDP with what is demanded?What are the two main difficulties that arise in comparing different comparing GDP?
- What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?Question # 6 Based on the following data for a hypothetical economy Millions Wage and salaries Government Purchases Exports Rental Income Profit Interest Consumption and spending Imports Private investment Spending $6000 $2000 $2650 $450 $1600 $1000 $4800 $2400 $2000 a. Calculate the GDP using expenditure approach: b. Calculate the GDP using income approach: c. Suppose that in the next vear export deerease to 1650 million. Import increase to 3400 million and consumption falls to 2800 million. What will the GDP be in that year?Wha t components of GDP (if any) would each of thefollowing tt"a:nsactions affc,: t? Explain.a. Uncle Henry buys a new refrigerator from adomestic manufactu=.b. Aunt Jane buys a new house from a local builder:c. The Jackson famil}' bU}'S an old Victorian housefrom the Walker fan1ily.d. You pay a hairdresser for a haircut.e. Ford sells a Mustang from its inventory to theMartinez family.f. Ford manufactures a Focus and sells il to Avis, thecar rental company.g. Cal.ilornia hires workers to repave Highway JOI.h. The federal government sends your grandmothera Social Securil y check.i. Your parents buy a bo ttle of French wine.j. Honda expands its factory in Ohio.
- The table below gives some of the items in the U.S. National Income and ProductAccounts in 1995.ItemAmount(trillions ofdollars)Consumption expenditure 4.97Investment 1.14Government expenditures 1.37Net exports 0.08Wages 4.20Interest, rent, and profit 1.68Depreciation 0.89a) Use the expenditure approach to calculate U.S. GDP in 1995.b) Use the income approach to calculate U.S. net domestic product at factor cost inig Y Calibri Y 11 - Personal Taxes Social Security Contributions Rents BIU A A- Taxes on Production & Imports Corporate Income Taxes Interest Proprietor's Income Transfer Payments Dividends Compensation of Employees Net Exports Undistributed Corporate Profits Government Purchases Net Private Domestic Investment Imports Personal Consumption Expenditures Consumption of Fixed Capital (Depreciation) Net Foreign Factor Income Corporate Profits Statistical Discrepancy C $ Bill. 30 15 14 18 20 24 35 12 15 315 11 21 92 33 15 283 31 22 8 56 -35 With the above data, follow Tables 7.3, 7.4, and 7.5 in the textbook for guidelines and acceptable steps to calculate: (a) Gross Domestic Product (GDP) by both the expenditures and the income approaches. (b) National Income (NI) by making the required adjustments to Net Domestic Product (NDP). (c) Personal Income (PI) and Disposable Personal Income (DPI). M B EE ChpQUESTION TWOSuppose that the economy of Mwaliteta Republic has the following data for some economic variables. Assume that Mwaliteta Republic has a population of 500,000 people.Variable Amount in million ZMWExpenditure on Non-durable goods 98Non-residential fixed investment 79Central government expenditure 60Local government expenditure 82Expenditure on durable goods 82Expenditure on services 99Export expenditure 60Inventory Investment 5Depreciation 4Property income from abroad 12Indirect taxes 12Residential fixed investment 42Personal income tax…
