Monica grows coconuts and catches fish. Last year she harvested 1500 coconuts and 600 fish. She values one fish as having a worth of three coconuts. She gave Rachel 300 coconuts and 100 fish for helping her to harvest coconuts and catch fish, all of which were consumed by Rachel. Monica set aside 200 fish to help with next year's harvest. In terms of fish, consumption would equal 700 fish 900 fish 1100 fish 2700 fish
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Monica grows coconuts and catches fish. Last year she harvested 1500 coconuts and 600 fish. She values one fish as having a worth of three coconuts. She gave Rachel 300 coconuts and 100 fish for helping her to harvest coconuts and catch fish, all of which were consumed by Rachel. Monica set aside 200 fish to help with next year's harvest. In terms of fish, consumption would equal
- 700 fish
- 900 fish
- 1100 fish
- 2700 fish
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- Suppose that the residents of Greenland play golf incessantly. In fact, golf is the only thing that they spend their money on. They buy golf balls, clubs, and tees. In 2010, they bought 2,000 golf balls for $3.00 each, 200 clubs for $80.00 each, and 1,000 tees for $0.10 each. In 2011, they bought 2,100 golf balls for $3.50 each, 250 clubs for $90.00 each, and 1,500 tees for $0.15 each. Using 2010 as the base year, answer the following questions. a. What was the CPI for 2010? b. What was the CPI for 2011? c. What was the inflation rate in 2011? %The Syejumba Economy is a very simple economy producing Vigayo and Gallons of Maize. The information below gives production points of the two commodities in the economy. Vigayo -0......Maize(1000's Gallons/year) - 600 Vigayo -1..... Maize(1000's Gallons/year) - 500 Vigayo - 2..... Maize(1000's Gallons/year) - 300 Vigayo - 3..... Maize(1000's Gallons/year) - 0 a) Graph the production possibility frontier of the Syejumba Economy b) What is the direction and of the slope of the production possibility frontier of the Syejumba Economy? Explain the intuition behind that fact. c) Suppose the Syejumba Economy is currently producing 2,000 Vigayo and 30,000 gallons of Maize. What is the opportunity cost of producing additional 20,000 gallons of Maize?Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150 $170 Number of houses produced 1,000 Number of pairs of shoes 650,000 525,000 (a) What is the Consumer Price Index (CPI)? (b) Calculate the CPI for both years. (c) Calculate the rate of inflation for 2001 using the CPI.
- Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150 $170 Number of houses produced 1,000 Number of pairs of shoes 650,000 525,000 (a) Calculate the GDP deflator for both years. (d) Calculate the rate of inflation for 2001 using the GDP deflator.Consider an economy that produces and consumes shoes and houses. In the table below are data for two different users. 2000 2001 Price of a house $120,000 $145,000 Number of houses produced 1000 1050 Price of a pair of shoe $150 $170 Number of pairs of shoes produced 650,000 525,000 Year 2000 Year 2001 Price of a house $120,000 Price of a pair of shoes $150 $170 Number of houses produced 1,000 Number of pairs of shoes 650,000 525,000 Calculate the rate of inflation for 2001 using the CPI.Calculate the GDP deflator for both years. Calculate the rate of inflation for 2001 using the GDP deflator.不 An economy is based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.30 from agriculture, $0.40 from manufacturing, and $0.30 from energy Find the output for each sector that is needed to satisfy a final demand of $16 billion for agriculture, $47 billion for manufacturing, and $24 billion for energy. The output of the agricultural sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)
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- A country has just one resource - labor - that it can use to produce two goods, books and clothing. At first the country has 10 million workers, and each worker can produce either 2 books or 5 units of clothing per day. Suppose the country wants to produce 8 million books. Suppose the price of a book is $10, and the price of a unit of clothing is $20. Using this information and your answer from the last question, calculate the country's GDP (measured in dollars per day). Enter your answer as a number in the space below. (For example, if your answer is $3.75 million, enter it as 3750000 in the space below.)“Bangladesh Prime Minister Sheikh Hasina on Sunday announced stimulus packages to the tune of Taka 72,750 crore (USD 8,573 million) to counter the adverse effects of coronavirus on the country’s economy.” “The premier said the first of the four packages involves Taka 30,000 crore to be provided to affected industries and service sector organisations as working capital through banks as low-interest loans. She said the commercial banks would provide the amount as loans from their own funds to concerned industries and enterprises on the basis of bank-client relations. The premier said the government would pay half of the interest amounts to banks as subsidies to the affected enterprises, which would pay the rest of the interest. “The interest rate of this lending facility will be 9 per cent and the concerned industries and business organisations will pay 4.50 per cent interest, meaning half of the interest of that loan,” she said.” a) What type of fiscal policy is this? b) Explain your…Suppose that consumers purchase fish and computer chips. In 2010, 1 pound of fish cost $1, a computer chip cost $1, and the typical consumer bought 10 pounds of fish and 10 computer chips. In 2011, 1 pound of fish cost $2, a computer chip cost $0.50, and the typical consumer bought 5 pounds of fish and 20 computer chips. In 2012, 1 pound of fish cost $2.10, a computer chip cost $0.90, and the typical consumer bought 12 pounds of fish and 20 computer chips. Using 2011 as the base year, the inflation rate between 2011 and 2012 is _____ percent.