Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 19, Problem 9DQ
To determine
User cost.
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Students have asked these similar questions
2. Suppose that the table below shows an economy's relationship
between real output and the inputs needed to produce that output:
LO4
Input
Quantity
Real
GDP
150.0
$400
112.5
300
75.0
200
a. What is productivity in this economy?
b. What is the per-unit cost of production if the price of each input
unit is $2?
c. Assume that the input price increases from $2 to $3 with no
accompanying change in productivity. What is the new per-unit cost
of production? In what direction would the $1 increase in input price
push the economy's aggregate supply curve? What effect would this
shift of aggregate supply have on the price level and the level of real
output?
d. Suppose that the increase in input price does not occur but,
instead, that productivity increases by 100 percent. What would be
the new per-unit cost of production? What effect would this change
in per-unit production cost have on the economy's aggregate supply
curve? What effect would this shift of aggregate supply have on the
price…
D Question 26
A corporation issues a bond with a par value of $4,800 in one year. Assume that the bond is sold
today for $4,500. What is the interest rate received by the lender?
O 3.33%
O 11.11%
O 6.67%
6.25%
D
Question 27
The U6 unemployment rate includes which individuals that are not included in the U3
unemployment rate?
O government employees
O people who volunteer
O self-employed individuals
O people who are working part-time but want full-time work
O members of the population that are under the age of 16
D Question 14
Suppose for the country of Joshua-land, the annual inflation rate is 7%, the population growth is 5% per year while GDP increases by 2%
per year. How long would it take for the country to double its GDP?
O 7 years
O 14 years
35 years
O Never
Question 15
For the previous question, how long would it take Joshua-land to double its GDP
capita?
per
O 7 years
O 14 years
O 35 years
Never
Question 16
For Joshua land, how long would it take for prices to double?
O 7 years
O 10 years
35 years
O Not enough information
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