The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of fish Quantity of watches Price of fish Price of watches 120 126 60 75 $10.00 $30.00 $11.50 $33.00 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices $3000 GDP for 2009 in 2010's prices $3360 GDP for 2010 in 2009's prices $ 3510 GDP for 2010 in 2010's prices

The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of fish Quantity of watches Price of fish Price of watches 120 126 60 75 $10.00 $30.00 $11.50 $33.00 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices $3000 GDP for 2009 in 2010's prices $3360 GDP for 2010 in 2009's prices $ 3510 GDP for 2010 in 2010's prices

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 7SCQ: Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at...

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TOTAL REVENUE (Dollars) On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. 1460 1320 1180 1040 900 760 620 480 340 200 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue (? According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $45 per scooter, shown as point B on the initial graph. Because the demand between points A and B is a $15-per-scooter increase in price will lead to in total revenue per week.
Forecast the demand for the rice for a country for the year 2019 on the basis of 7-year data given in table: Year 2012 2013 2014 2015 2016 2017 2018 Population (millions) 10 12 15 20 25 30 40 Rice consumed (million tonnes) 40 50 60 70 80 90 100
I Consider the demand for trading cards listed below. Month Demand Jan. 51,000 48,000 Feb. March 55,000 April May 58,000 66,000 June 69,000 80,000 July Aug. 95,000 Use Excel to prepare a forecast for September, October, and November using linear regression Print out the sheet of results, as well as a sheet containing the formulas that you used ( can be used to toggle between displaying values and displaying formulas or you can click on Formulas>Formula Auditing→Show Formulas.) and for the cars is 16.000
MOER The table below shows how supply and demand Price ($/gal) Demand (million of gal.) 1 1.2 790 700 1.4 640 1.6 580 1.95 497 2.2 450 2.4 430 2.6 420 2.8 390 3 360 Note: there is some randomization in the above data to account for price fluctuations. Make sure to check that you input the correct data in your device. Perform the following work • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain an article to compute trend-lines in Excel): -21.935p² + 207.365p+339.085 Round your answer to 3 decimal places S(p) ● D(p): = 1.53 • Assume that the Demand has a quadratic relationship with the price. Find this relationship (the help button links to an article to compute trend-lines in Excel): 85.561p² - 543.789p + 1236.729 Round your answer to 3 decimal places Video Solve | Sn... of gasoliine vary depending on the price: Supply (million of gal.) 511 550 600 641 660 680 700 720 735 786 605 - • Use the trendlines to find the price…
Calculate the value of output
(The answers are listed in the parentheses please show work on how to get those answers)
The table provides data on the price of an umbrella, the amount of rainfall, and the number of umbrellas bought per day. Price (dollars per umbrella) 20 30 40 2 inches 30 20 15 2) 3 inches. Label the point 2. 3) 4 inches. Label the point 3. Umbrellas (number per day) 3 inches 40 30 25 4 inches 60 45 30 Draw points to show the price when the quantity is 30 umbrellas and the rainfall is 1) 2 inches. Label the point 1. Draw a curve through these points to illustrate the relationship between rainfall and price when the quantity is constant at 30 umbrellas. 40- 30 20- 10- 0 Price (dollars per umbrella) Rainfall (inches per day) >>> Draw only the objects specified in the question.
Travel Time Each Way Price of a Dress Store (Minutes) (Dollars per dress) Local Department Store 15 112 Across Town 30 89 Neighboring City 60 70 Juanita makes $26 an hour at work. She has to take time off work to purchase her dress, so each hour away from work costs her $26 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Dress Total Cost Store (Dollars) (Dollars per dress) (Dollars) Local Department Store 112 Across Town 89 70 Neighboring City Assume that Juanita takes opportunity costs and the price of the dress into consideration when she shops. Juanita will minimize the cost of the dress if she buys it from the
provide quick explanation and graph please! thank you.
2) Below is the Table showing the annual gross electricity demand (TW.h) of Turkey versus gross do product a) Draw gross domestic product versus electricity consumption and find the equation of the line by the graphical method (be careful determining the dependent and the independent variables) b) By using the equation you have found, predict the electricity demand when GDP becomes 2500 billion S. Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 GDP (billion $) 800 928 1024 1120 1094 1250 1433 1532 1691 1861 1966 2040 2186 gross annual electricity consumption (TWh) 161 175 190 198 194 210 230 242 246 257 266 279 295
Calculate e) and f) Thank you.
Question 1 Suppose an economy consists of only two types of products: laptops and automobiles. Sales and price data for these two products for two different years are shown below: 2021 Quantity sold 2015 2019 Quantity sold Products Price Price Quantity sold 200,000 60,000 Price Laptop Automobiles (RM) 2,000 40,000 500,000 80,000 (RM) 3,000 60,000 450,000 90,000 (RM) 3,500 80,000 Calculate: a) Nominal Gross Domestic Product (GDP) in 2019 and 2021. b) Real Gross Domestic Product (GDP) in 2019 and 2021 using 2015 as base year. c) Based on your answers to questions (a) and (b), which one of them accurately measures the growth of GDP and why? d) Higher GDP is indicated higher income per capital, higher economic growth and increases in distribution of income but GDP does not reflect everything going well the economy. Explain FOUR (4) the limitation in GDP measure with examples.