(21) Carla just started her new job working at the Department of Commerce. In order to see whether Carla “knows her stuff,” her boss asks her to put together a presentation on the current state of the economy. What economic indicators should Carla look at? Select one: a. The unemployment rate, business profits, and auto sales. b. The growth rate of real GDP, employment in the steel industry, and Oil prices. c. The inflation rate, the unemployment rate, and the growth rate of real GDP. d. The inflation rate, the unemployment rate in Georgia, and mortage interest rates in Texas.   (22) Price ceilings typically result in ________. Select one: a. shortages b. price equilibrium c. excess supply

Q: Question 34: thinking locally, we know that today about 24% of economic output in the…

A: As the economy grows, the contribution of the service sector to overall GDP increases whereas the…

Q: 1. China has a greater GDP value than Canada. Their national GDP is currently 2nd in the world. Why…

A: The measure that depicts the final value of goods and services being produced in an economy during a…

Q: dentify the term that describes the category of people, who are retired and not ready to work in an…

A: Labor force = Employed + Unemployed Retired and people not ready to work are not part of labor force…

Q: 5. The consumer price index is designed to measure the degree to which a) Incomes are distributed…

A: # Consumer price index is considered to be as one of the important tool which signifies inflation…

Q: 11. Consider a very simple economy in which there are only 20 people of age 16 or over. Eight are…

A: From the above information,  There are 20 people of age 16 or above. 8 are employed, 2 are…

Q: 10. The table shows the diversification trend till 2015. What has been the trend in diversification…

A: Oman has a GDP of 79.5 billion USD in 2019. Oman largely depends upon oil revenue to finance its…

Q: Gross domestic product (GDP) in the economy is measured by the:     market value of all final goods…

A: Gross domestic product is a measure of national income.

Q: Suppose production and prices of food and clothing (the only two goods produced in this economy) in…

A: I) Nominal GDP is based on current prices while real GDP is based on base year prices Real GDP in…

Q: Suppose production and prices of food and clothing (the only two goods produced in this economy) in…

A: Nominal GDP measures the market value of goods and services measured at current prices whereas real…

Q: 23. Where can a firm find statistical information on the strength and performance of an economy?…

A: A financial marker or indicator is a piece of monetary information, normally of macroeconomic scale,…

Q: 3. Consider the economy of Sandersonia. The population of Sandersonia is 100 people. Of the…

A: Answer -    Labor Force :- It is the no. of people of a population who are working and actively…

Q: 5. Use the knowledge of Economics you have gained so far from this course to explain the role of the…

A: According to the World Bank to analyze whether all opportunities are reaching the people of the…

Q: 2. A Japanese consultancy firm operating in New York hires an American worker. They pay him $30, 000…

A: Net factor income from abroad refers to the difference between the income paid to the domestic…

Q: Suppose that nominal per capita GDP was $40,000 in 2000 and $60,000 in 2007. If the GDP deflator was…

A: Answer: Given, Year Nominal per capita GDP GDP deflator 2000 $40,000 100 (base year) 2007…

Q: Formula for the relationship between the purchasing power of the U.S. dollar and the price level.…

A: The amount of products and services that a unit of cash can buy is known as purchasing power. When…

Q: 22) There are 10 million people in the country of Natural 500,000 are retired . 1,000,000 are…

A: Unemployment refers to the situation when a person is not engaged in any economic activity. If the…

Q: 1. You just heard on the news that GDP is higher this year than it was last year. This means that…

A: Gross domestic product (GDP) is the monetary value of all the finished goods and services produced…

Q: Question 34 If Volkswagen (a German-based firm) produces a car in Tennessee and exports it to…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 28.A puzzle: The share of GDP devoted to investment was similar for the United States and South…

A: The total value associated with all the final goods and services produced in an economy in a year is…

Q: What is a Business cycle? Why Business cycle essential to the economy?

A: A business cycle is also referred to as an economic cycle and can be used to carry out an analysis…

Q: The table below contains data for the country of Batterland, which produces only Local bread and…

A: Nominal GDP in any year is the value of local bread and pancakes calculated at the market price of…

Q: Incorrect Question 1 A country has 100 million people, 80 million of whom are adult…

A: People who are working or have a job are considered employed and people who are looking for a job…

Q: Discuss the global and local problems in the economy on why there us a lot of working students

A: An economy is defined as all activity in a given region that is connected to the production and…

Q: Question 11 Spending in Economy X Spending in 2017 Category $35 million Consumer $40 million…

A: The standard measure of the value added created via the production of goods and services in a…

Q: 46. The Amount of national production that households, firms, and the state are willing to buy at a…

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

Q: Purchase of electricity by a business is (refer to the scenario above):   Select one:   a. Not…

A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…

Q: 2. Personal income and expenditures data There are various categories people spend their personal…

A: Bureau of Labor Statistics published data on Consumer Expenditure Surveys useful for expansion for…

Q: What the strategy adopted by India to calculate the GDP of the country. b) What the strategy adopted…

A: The final value associated with the products and services produced and manufactured in the nation in…

Q: xiv. Suppose that the index of prices received by_farmers_for 2011 was 0.97 and the base year of…

A: This means that relative to the year 2000, the farm price were lower by 3% in 2011.

Q: 1. The table below contains data for the country of Batterland, which produces only waffles and…

A: Gross domestic product is a monetary measure of the market value of all the services and the final…

Q: 9. Economics is the study of

A: To find : What is economics.

Q: b. Suppose that only two goods are produced in an economy. The prices in 2020 and 2021 are given in…

A: The rate at which prices increase over a specific time period is known as inflation. Inflation is…

Q: How free trade zones or special economic zones affect exports.

A: Special economic zone is that area where the different business laws and regulations implied as…

Q: Question 21 A company in the United States produces dog treats and sells them to consumers in…

A: Component of GDP:-                               GDP= C+I+G+NX where; C=ConsumptionI=Investment G=…

Q: Question attached

A: The unemployment rate is the number of unemployed people in the country being divided by the total…

Q: What is the Consumer Price Index of the Philippines?

A: Consumer price index is the change in the price of goods and services during a period of time.

Q: Question 3 Describe what must change for the economy to experience persistent increases in standard…

A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a…

Q: Explain how a severe drought in a country whose main activity is agriculture can affect: The gross…

A: Drought in a country can be explained as the threat to the agricultural sector of the country…