The following diagram represents an economy in which total factor productivity z increases.PPF2PPF112(0,0)Leisure, /PPF3Is GDP increasing?O Yes, because hours worked increaseO No, because hours worked are constantO Yes, because hours worked are constant, and productivity increasesO Impossible to tell, because hours worked decrease, and productivity increasesConsumption, C

Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

The following diagram represents an economy in which total factor productivity z increases. PPF2 PPF 12 (0,0) Leisure, / PPF Is GDP increasing? O Yes, because hours worked increase No, because hours worked are constant Yes, because hours worked are constant, and productivity increases O Impossible to tell, because hours worked decrease, and productivity increases Consumption, C

The following diagram represents an economy in which total factor productivity z increases. PPF2 PPF 12 (0,0) Leisure, / PPF Is GDP increasing? O Yes, because hours worked increase No, because hours worked are constant Yes, because hours worked are constant, and productivity increases O Impossible to tell, because hours worked decrease, and productivity increases Consumption, C

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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When people living in America spend $10,000 to buy imported goods at the shopping mall, how does this affect U.S. GDP? O GDP decreases because we are buying foreign goods and not American goods. O GDP is not affected because the goods are not produced in America. O GDP increases by $10,000 because the consumers live in America. O GDP increases by an amount equal to the value added by the stores in the shopping mall. W ASUS 8 R
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Which of the following is/are not a factor of production? O a. Enterprise O b. Land О с. Сapital O d. Cheque book
50 45 ↑ases 40 35 30 25 20 15 10 5. 30 20 30 40 50 60 70 80 Refer to Figure 2-4. It is possible for this economy to produce 40 toothbrushes and 20 toasters. O 50 toothbrushes and 30 toasters. O 70 toothbrushes and 40 toasters. O All of the above.
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You Answered Suppose that the economy is made up of a single firm, which pays $300rin interest payments, pays $300 in its labour costs, and pays $2,000 in rental costs for its building. The rest of its revenues are paid out to the owners of this firm. Correct Answer This firm also produces $10,000 of its final product, selling $7,000 to domestic consumers, keeping $2,000 to replenish its inventories, and selling the rest abroad. In this little economy, using the Income Approach, what is the total amount of Business Profits? Note: Round your answers to two decimal places. 8,700 9.400 margin of error +/-0.1
Suppose the information in the table is for a simple economy that produces and consumes only four goods and services: textbooks, hamburgers, shirts and cotton. 2011 2012 2013 Product Quantity Price Quantity Price Quantity Price Textbooks 90 $50 100 $60 100 $65 Hamburgers 75 2 100 2 120 2.25 Shirts 50 30 50 25 65 25 Cotton 100 0.80 800 0.60 120 0.70 Please enter only numbers (no commas, dollar signs etc) in the spaces provided. Calculate the CPI for 2012 (using 1 decimal place). _____ Calculate the CPI for 2013 (using 1 decimal place). _____ Calculate the inflation rate for 2012 using the CPI (using 1 decimal place). ____% Calculate the inflation rate for 2013 using the CPI (using 1 decimal place). ____%
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1. Consider a simple example economy where there are three companies. Gelato Inc. is an Italian company that produces ice cream; it is located in St. Louis but owned by an Italian chemist who sends from time to time secret formulas for new flavors. Milky Way is a milk producer in the St. Louis area. Finally, Sweetyou is a sugar producer, also located in St. Louis. In 2019, Gelato Inc. produced and sold to consumers $500 worth of ice cream, using $50 of sugar and $100 of milk. It also paid $150 in wages and $50 in taxes. Milky Way produced $200 worth of milk. It sold $100 to Gelato Inc. and $100 to the consumers. It paid $100 in wages, $20 in interests on a previous loan, and $30 in taxes. Sweetyou produced $200 worth of sugar, of which $50 was sold to Gelato Inc., $100 was exported to France, and the remaining was unsold. Sweetyou paid wages for $100 and $40 in taxes. The government in this St. Louis based economy provides public services for which it employs labor and basic income for…
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