Macroeconomics

Question 33 Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the questions that follow: Assume that the base year is 2012. What was the real GDP in 2013?

a. What amount of ordinary income and separately stated items are allocated to them for years 1 and 2 based on the information above?

1. Why does inflation make nominal GDP a poor measure of the increase in total production?

the market value of all goods and services produced within a country in a given period of time.

C. Building the Economy The Fight Over the

20. Which of the following statements is TRUE? Economists normally assume that the goal of the

Answer four (4) questions. Maximum of 400 words for each question. These are questions which require short answers to a series of issues relating to economic principles and concepts.

In our team paper, we are going to evaluate, assess, and apply various economic situations from a Keynesian and Classical perspective. As the global markets increase and decrease over time careful modifications of the economy of the United States need to be made. After a comprehensive assessment of the current economic situation team C has agreed, that the Current State of Interest Rates, unemployment, exceptions, and consumer incomes and spending are the distinct factors that have an influence on economic forecasting and growth. The US is still recovering from the financial crisis there is still some skepticism, despite recent signs in

In view of the weak economy of the last several years, explain which of the four components of GDP had, or is having, the greatest positive impact in our economy. Use your results from the second e-Activity to support your response.

7. Which of the following must be true if a firm is experiencing economies of scale?

In 2-3 paragraphs explain GDP: what items are included & excluded and why intermediate goods and services are usually not included directly in GDP.

19. After reading this chapter, what do you believe are the two greatest obstacles preventing poor countries from becoming rich?

Suppose the economy is closed and consumption is 6,500, taxes are 1,500, and government purchases are 2,000. If national saving amounts to 1,000, then what is GDP?

a. Would both types of bonds, par and discount provide debt reduction to the emerging country?

GDP(gross domestic product) at market price = value of output in an economy in the particular year - intermediate consumption