Suppose that Glitter Gulch, a gold mining firm, increased its sales revenues from newly mined gold from $10 million to $20 million between one year and the next. Assuming that the price of gold increased by 100 percent over the same period, by what numerical amount did Glitter Gulch's real output change? If the price of gold had not changed, what would have been the change in Glitter Gulch's real output? million

Time left 0:48: In 2009, Corny Company grows and sells $2 million worth of corn to Tasty Cereal Company, which makes corn flakes. Tasty Cereal Company produces $6 million worth of corn flakes in 2009, with sales to households during the year of $4.5 million. The unsold $1.5 million worth of corn flakes remains in Tasty Cereal Company's inventory at the end of 2009. The transactions just described contribute how much to GDP for 2009? Select one: O a. $6 million Ob. $6.5 million O c. $4.5 million O d.. $8 million Next page

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Suppose that a country has only two commodities, two factors of production, and no savings. The two commodities are wine (W) and cheese (C) and the two factors of production are capital (K) and labour (L). The country collects the following partial factor taxes:   tKC is a tax on capital used in the production of cheese equal to 20%.   tKW is a tax on capital used in the production of wine equal to 25%.   tLC is a tax on labour used in the production of cheese equal to 20%.   tLW is a tax on labour used in the production of wine equal to 15%.   Which of the following would have the same outcome as the above taxes?   A) Replacing tKW and tKC with a 22.5% tax on capital.   B) Replacing tKC and tLC with a 20% tax on cheese.   C) Replacing tKW and tLW with a 20% tax on wine.   D) Replacing tLW and tLC with a 17.5% tax on labour.   E) All of the above.   Please explain

If the price of gold had not changed, what would have been the change in Glitter Gulch’s real output?

Q1 What is "capital"? The salary we pay employees Please give just answer. There is no need to explain. The money we pay to the government O Money invested in a building or machine to help us make products Money we make when customers pay us O None of the above Q2lf a country experiences high GDP and inflation, followed by a lower GDP and deflation, this is an example of O Unemployment Recession the Business Cycle O Supply and Demand None of the above Q3 What causes inflation? O People don't have enough money O People have too much money O People have too much money and many businesses want some of that money O People owe a lot of money O The government causes inflation by rais ing interest rates Q4 The Water and Diamond Paradox explains: O Why supply and demand always meets in the middle of a graph Marginal utility of diamonds O Why water is inexpensive while diamonds are so expensive O Why water is so expensive while diamonds are inexpensive O None of the above Q5 The unemployment…

The basic difference between macroeconomics and microeconomics is: O microeconomics concentrates on the behaviour of individual consumers and firms while macroeconomics focuses on the performance of the entire economy O microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms O microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment

Consider an imaginary price index, the Undergraduate Price Index (UPI), created to represent the annual purchases made by a typical undergradute. The following table contains information on the market basket for the UPI and the price of each good in 2020, 2021, and 2022. The cost of each good in the basket as well as the basket’s total cost are given for 2020. Perform these same calculations for 2021 and 2022, and enter the results in the following table.   Quantity in Basket 2020 2021 2022 Price Cost Price Cost Price Cost (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Streaming services 1 64 64 104   134   Iced coffees 150 2 300 2   2   Textbooks 10 80 800 85   105   Notebooks 8 2 16 2   4   Energy drinks 40 3 120 4   5   Total cost     1,300         Price index     100           Suppose this price index uses 2020 as the base year. In the last row of the table, calculate and…

True or False? What we call “short-run output,” denoted by Ỹ, is measured in dollars. True False

Refer to the figure below. Which of the points in the above graph are possible short-run equilibria? Price level (GDP deflator, 2000 = 100) O A and B O A and C O A and D O A, B, C, and D LRAS SRAS, SRAS₂ AD₂ AD₁ Real GDP (trillions of 2000 dollars)